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 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 PostIn case Operating Cycle cannot be determined, what is the time period of operating cycle assumed? Next PostDefine Trade Receivables. You Might Also Like From the following information, calculate Proprietary Ratio: August 13, 2022 X and Y are partners in a firm sharing profits and losses in the ratio of 3 : 2. On 1st April, 2019, they admit Z as a partner for 1/5th share in profits. On that date, there was a balance of Rs. 1,50,000 in General Reserve and a debit balance of Rs. 20,000 in the Profit and Loss Account of the firm. Pass necessary Journal entries regarding adjustment of reserve and accumulated profit/loss. August 1, 2022 A and B are partners in a firm sharing profits in the ratio of 4 : 1. They decided to share future profits in the ratio of 3 : 2 w.e.f. 1st April, 2019. On that day, Profit and Loss Account showed a debit balance of Rs. 1,00,000. Pass Journal entry to give effect to the above. July 27, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
X and Y are partners in a firm sharing profits and losses in the ratio of 3 : 2. On 1st April, 2019, they admit Z as a partner for 1/5th share in profits. On that date, there was a balance of Rs. 1,50,000 in General Reserve and a debit balance of Rs. 20,000 in the Profit and Loss Account of the firm. Pass necessary Journal entries regarding adjustment of reserve and accumulated profit/loss. August 1, 2022
A and B are partners in a firm sharing profits in the ratio of 4 : 1. They decided to share future profits in the ratio of 3 : 2 w.e.f. 1st April, 2019. On that day, Profit and Loss Account showed a debit balance of Rs. 1,00,000. Pass Journal entry to give effect to the above. July 27, 2022
