What are Current Liabilities? Post category:Accountancy Reading time:1 mins read SOLUTION Current liabilities refer to those liabilities which are to be paid in near future (normally within one year). Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostWhat are Current Assets? Next PostWhat is an ideal current ratio? You Might Also Like Can ‘securities premium reserve’ be distributed as dividend? September 28, 2022 Closing Trade Receivables Rs. 1,20,000, Revenue from Operations Rs. 14,40,000. Provision for Doubtful Debts Rs. 20,000. Calculate Trade Receivables Turnover Ratio. August 16, 2022 List any two items that need adjustments in books of accounts of a firm at the time of admission of a partner: – (i)Adjustment for Goodwill: (ii) Adjustment of Accumulated Profits, Reserves and Losses. A, B, C and D were partners in a firm sharing profits in the ratio of 4: 3: 2: 1. E brought Rs. 10,000 for his share of goodwill premium in cash which was correctly recorded in the books by the accountant. The accountant showed goodwill at Rs. 1,00,000 in the books. Was the accountant correct in doing so? Give reason in support of your answer. September 27, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Closing Trade Receivables Rs. 1,20,000, Revenue from Operations Rs. 14,40,000. Provision for Doubtful Debts Rs. 20,000. Calculate Trade Receivables Turnover Ratio. August 16, 2022
List any two items that need adjustments in books of accounts of a firm at the time of admission of a partner: – (i)Adjustment for Goodwill: (ii) Adjustment of Accumulated Profits, Reserves and Losses. A, B, C and D were partners in a firm sharing profits in the ratio of 4: 3: 2: 1. E brought Rs. 10,000 for his share of goodwill premium in cash which was correctly recorded in the books by the accountant. The accountant showed goodwill at Rs. 1,00,000 in the books. Was the accountant correct in doing so? Give reason in support of your answer. September 27, 2022