If Operating Cycle is 12 months and payment is received in 15 months, how will you classify the asset? Post category:Accountancy Reading time:1 mins read SOLUTION Non-Current Asset. Please Share This Share this content Opens in a new window Twitter Opens in a new window Facebook Opens in a new window Google+ 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 PostIn case Operating Cycle cannot be determined, what is the time period of operating cycle assumed? Next PostDefine Trade Receivables. You Might Also Like M/s Mevo and Sons; a bamboo pens producing company, purchased a machinery For Rs. 9,00,000. It received dividend of Rs. 70,000 on investment in shares. The company also sold an old machine of the book value of Rs. 79,000 at a loss of Rs. 10,000. Compute Cash flow from Investing Activities. (C B S E. Sample Paper 2019) October 6, 2022 What is the number of major heads of the Equity and Liabilities side of a Company’s Balance Sheet? September 30, 2022 Vinod and Mohan are partners. Vinod ‘s Capital is Rs. 1,00,000 and Mohan ‘s Capital is Rs. 60,000. Interest on capital is payable @6% p.a. Mohan is entitled to a salary of Rs. 3,000 per month. Profit for the current year before interest and salary to Mohan is Rs. 80,000.Prepare Profit and Loss Appropriation Account. October 11, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.