Interest received and paid by a finance company is classified under which Kind of activity while preparing a Cash flow statement? (C.B.S. E. 2018) Post category:Accountancy Reading time:1 mins read SOLUTION Operating Activity. 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 PostHow will you treat ‘Interest on Debentures’ while preparing a Cash Flow Statement? Next PostState whether cash deposited in bank will result in inflow, outflow or no flow of cash? You Might Also Like At what rate interest on Calls-in-Advance may be paid by a Company according to Table F of Schedule I of the Companies Act, 2013? September 28, 2022 Panasonic Ltd. was formed on 1st April, 2010 with an authorised capital of Rs. 2,00,000, divided into 2,000 Equity Shares of Rs. 100 each. 1,000 shares were issued as fully paid to the vendors of building for payment of the purchase consideration. The remaining 1,000 shares were offered or public subscription at a premium of Rs. 5 per share payable as: July 15, 2022 Ali the Bahadur are partners in a firm sharing profits and losses as Ali 70% and Bahadur 30%. Their respective capitals as at 1st April, 2018 stand as Ali Rs. 25,000 and Bahadur Rs. 20,000. The partners are allowed interest on capitals @ 5% p.a. Drawings of the partners during the year ended 31st March, 2019 amounted to Rs. 3,500 and Rs. 2,500 respectively. Profit for the year, before charging interest on capital and annual salary of Bahadur @ Rs. 3,000, amounted to Rs. 40,000, 10% of divisible profit is to be transferred to Reserve. You are asked to show Partners’ Current Account and Capital Accounts recording the above transactions. July 21, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
At what rate interest on Calls-in-Advance may be paid by a Company according to Table F of Schedule I of the Companies Act, 2013? September 28, 2022
Panasonic Ltd. was formed on 1st April, 2010 with an authorised capital of Rs. 2,00,000, divided into 2,000 Equity Shares of Rs. 100 each. 1,000 shares were issued as fully paid to the vendors of building for payment of the purchase consideration. The remaining 1,000 shares were offered or public subscription at a premium of Rs. 5 per share payable as: July 15, 2022
Ali the Bahadur are partners in a firm sharing profits and losses as Ali 70% and Bahadur 30%. Their respective capitals as at 1st April, 2018 stand as Ali Rs. 25,000 and Bahadur Rs. 20,000. The partners are allowed interest on capitals @ 5% p.a. Drawings of the partners during the year ended 31st March, 2019 amounted to Rs. 3,500 and Rs. 2,500 respectively. Profit for the year, before charging interest on capital and annual salary of Bahadur @ Rs. 3,000, amounted to Rs. 40,000, 10% of divisible profit is to be transferred to Reserve. You are asked to show Partners’ Current Account and Capital Accounts recording the above transactions. July 21, 2022