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 A, B and C were partners in a firm having capitals of Rs. 50,000; Rs. 50,000 and Rs. 1,00,000 respectively. Their Current Account balances were A: Rs. 10,000; B: Rs. 5,000 and C: Rs. 2,000 (Dr.). According to the Partnership Deed the partners were entitled to an interest on Capital @ 10% p.a. C being the working partner was also entitled to a salary of Rs. 12,000 p.a. The profits were to be divided as: (a) The first Rs. 20,000 in proportion to their capitals. (b) Next Rs. 30,000 in the ratio of 5: 3: 2. (c) Remaining profits to be shared equally. The firm earned net profit of Rs. 1,72,000 before charging any of the above items. Prepare Profit and Loss Appropriation Account and pass necessary Journal entry for the appropriation of profits. October 11, 2022 Identify the transactions as belonging to: (i) Operating Activities, (ii) Investing Activities, (iii) Financing Activities and (iv) Cash and Cash Equivalents: August 18, 2022 State any two grounds on the basis of which the Court may order for dissolution of a partnership firm. (CBSE 2019) October 8, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
A, B and C were partners in a firm having capitals of Rs. 50,000; Rs. 50,000 and Rs. 1,00,000 respectively. Their Current Account balances were A: Rs. 10,000; B: Rs. 5,000 and C: Rs. 2,000 (Dr.). According to the Partnership Deed the partners were entitled to an interest on Capital @ 10% p.a. C being the working partner was also entitled to a salary of Rs. 12,000 p.a. The profits were to be divided as: (a) The first Rs. 20,000 in proportion to their capitals. (b) Next Rs. 30,000 in the ratio of 5: 3: 2. (c) Remaining profits to be shared equally. The firm earned net profit of Rs. 1,72,000 before charging any of the above items. Prepare Profit and Loss Appropriation Account and pass necessary Journal entry for the appropriation of profits. October 11, 2022
Identify the transactions as belonging to: (i) Operating Activities, (ii) Investing Activities, (iii) Financing Activities and (iv) Cash and Cash Equivalents: August 18, 2022
State any two grounds on the basis of which the Court may order for dissolution of a partnership firm. (CBSE 2019) October 8, 2022