Give any one example of an activity, which is an investing activity for even type of enterprise. (C.B.S.E. 2017, Comptt.) Post category:Accountancy Reading time:1 mins read SOLUTION Following are investing activity for every type of enterprise: Purchase of GoodwillPurchase of Fixed AssetsSale of Fixed Assets. 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 PostState with reason whether ‘Purchase of fixed asset on long term deferred payment’ would result in inflow, outflow or no flow of cash. Next PostGive an example of the activity which remains financing activity for every enterprise. (C.B.S.E. 2020, Mumbai, Chennai) You Might Also Like Mita and Usha are partners in a firm sharing profits in the ratio of 2 : 3. Their Capital Accounts as on 1st April, 2015 showed balances of Rs. 1,40,000 and Rs. 1,20,000 respectively. The drawings of Mita and Usha during the year 2015-16 were Rs. 32,000 and Rs. 24,000 respectively. Both the amounts were withdrawn on 1st January 2016. It was subsequently found that the following items had been omitted while preparing the final accounts for the year ended 31st March, 2016: (a) Interest on Capital @ 6% p.a. (b) Interest on Drawings @ 6% p.a. (c) Mita was entitled to a commission of Rs. 8,000 for the whole year. Showing your working clearly, pass a rectifying entry in the books of the firm. July 22, 2022 Classify the following activities as (i) Operating, (ii) Investing or (iii) Financing in case of a ‘Financial Enterprise’: (a) Proceeds from Sale of Investments; (b) Interest received on Debentures held as Investment October 4, 2022 Amit, Balan and Chander were partners in a firm sharing profits in the proportion of 1/2, 1/3 and 1/6 respectively. Chander retired on 1st April, 2014. The Balance Sheet of the firm on the date of Chander’s retirement was as follows: August 4, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Mita and Usha are partners in a firm sharing profits in the ratio of 2 : 3. Their Capital Accounts as on 1st April, 2015 showed balances of Rs. 1,40,000 and Rs. 1,20,000 respectively. The drawings of Mita and Usha during the year 2015-16 were Rs. 32,000 and Rs. 24,000 respectively. Both the amounts were withdrawn on 1st January 2016. It was subsequently found that the following items had been omitted while preparing the final accounts for the year ended 31st March, 2016: (a) Interest on Capital @ 6% p.a. (b) Interest on Drawings @ 6% p.a. (c) Mita was entitled to a commission of Rs. 8,000 for the whole year. Showing your working clearly, pass a rectifying entry in the books of the firm. July 22, 2022
Classify the following activities as (i) Operating, (ii) Investing or (iii) Financing in case of a ‘Financial Enterprise’: (a) Proceeds from Sale of Investments; (b) Interest received on Debentures held as Investment October 4, 2022
Amit, Balan and Chander were partners in a firm sharing profits in the proportion of 1/2, 1/3 and 1/6 respectively. Chander retired on 1st April, 2014. The Balance Sheet of the firm on the date of Chander’s retirement was as follows: August 4, 2022