Give two examples of Cash Flows from Financing Activities. Post category:Accountancy Reading time:1 mins read SOLUTION (i) Cash receipts from issuing shares and debentures.(ii) Repayment of debentures. 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 is meant by Financing Activities? Next PostName any two Financing activities that result into inflow of cash. You Might Also Like Pass necessary Journal entries to record the following unrecorded assets and liabilities in the books of Paras and Priya: (a) There was an old furniture in the firm which had been written off completely in the books. This was sold for Rs. 3,000. (b) Ashish, an old customer whose account for Rs. 1,000 was written off as bad in the previous year, paid 60%, of the amount. (c) Paras agreed to takeover the firm’s goodwill (not recorded in the books of the firm), at a valuation of Rs. 30,000. (d) There was an old typewriter which had been written off completely from the books. It was estimated to realise Rs. 400. It was taken by Priya at an estimated price less 25%. (e) There were 100 shares of Rs. 10 each in Star Limited acquired at a cost of Rs. 2,000 which had been written-off completely from the books. These shares are valued @ Rs. 6 each and divided among the partners in their profit-sharing ratio. July 25, 2022 State any one difference between Sacrificing Ratio and Gaining Ratio. (C.B.S.E. 2020 C) October 8, 2022 Nitya and Anand are partners in a firm sharing profits and losses in the ratio of 3: 2. With effect from 1st April, 2022, they decided to share future profits equally. On the date of change in the profit-sharing ratio, the Profit and Loss Account showed a credit balance of Rs. 1,50,000. Record the necessary Journal entry for the distribution of the balance in the Profit and Loss Account immediately before the change in the profit-sharing ratio. October 28, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Pass necessary Journal entries to record the following unrecorded assets and liabilities in the books of Paras and Priya: (a) There was an old furniture in the firm which had been written off completely in the books. This was sold for Rs. 3,000. (b) Ashish, an old customer whose account for Rs. 1,000 was written off as bad in the previous year, paid 60%, of the amount. (c) Paras agreed to takeover the firm’s goodwill (not recorded in the books of the firm), at a valuation of Rs. 30,000. (d) There was an old typewriter which had been written off completely from the books. It was estimated to realise Rs. 400. It was taken by Priya at an estimated price less 25%. (e) There were 100 shares of Rs. 10 each in Star Limited acquired at a cost of Rs. 2,000 which had been written-off completely from the books. These shares are valued @ Rs. 6 each and divided among the partners in their profit-sharing ratio. July 25, 2022
State any one difference between Sacrificing Ratio and Gaining Ratio. (C.B.S.E. 2020 C) October 8, 2022
Nitya and Anand are partners in a firm sharing profits and losses in the ratio of 3: 2. With effect from 1st April, 2022, they decided to share future profits equally. On the date of change in the profit-sharing ratio, the Profit and Loss Account showed a credit balance of Rs. 1,50,000. Record the necessary Journal entry for the distribution of the balance in the Profit and Loss Account immediately before the change in the profit-sharing ratio. October 28, 2022