Name any two sub-line items (sub-headings) under which “Non-Current Liabilities” shall be classified in a Company’s Balance Sheet. Post category:Accountancy Reading time:1 mins read SOLUTION (i) Long-term Borrowings; (ii) Long-term Provisions. 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 PostName any two sub-line items (sub-headings) under which “Shareholder’s Funds” shall be classified in a Company’s Balance Sheet. Next PostName any two sub-line items (sub-headings) under which “Current Liabilities” shall be classified in a Company’s Balance Sheet. You Might Also Like Ajay, Binay and Chetan were partners sharing profits in the ratio of 3 : 3 : 2. The Partnership Deed provided for the following: (i) Salary of Rs. 2,000 per quarter to Ajay and Binay. (ii) Chetan was entitled to a commission of Rs. 8,000 (iii) Binay was guaranteed a profit of Rs. 50,000 p.a. The profit of the firm for the year ended 31st March, 2015 was Rs. 1,50,000 which was distributed among Ajay, Binay and Chetan in the ratio of 2 : 2 : 1, without taking into consideration the provisions of Partnership Deed. Pass necessary rectifying entry for the above adjustments in the books of the firm. Show your workings clearly. July 22, 2022 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 Blue chip Ltd. was registered on 1st January 2011 with a capital of Rs. 10,00,000 divided into 1,00,000 shares of Rs. 10 each. The company issued 42,000 shares of which 40,000 shares were taken up by the public and Rs. 1 per share was received with application. On 1st February, these shares were allotted and Rs. 2 per share was duly received on 28th February as allotment money. A first call of Rs. 3 per share was made on 1st March and the call money on all shares with the exception of 100 shares was received. The final call of Rs. 4 per share was made on 1st June and the amount due, with the exception of 400 shares, was received by 30th June. Pass necessary journal and Cash Book entries and prepare the Balance Sheet as at 30th June, 2011. July 14, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Ajay, Binay and Chetan were partners sharing profits in the ratio of 3 : 3 : 2. The Partnership Deed provided for the following: (i) Salary of Rs. 2,000 per quarter to Ajay and Binay. (ii) Chetan was entitled to a commission of Rs. 8,000 (iii) Binay was guaranteed a profit of Rs. 50,000 p.a. The profit of the firm for the year ended 31st March, 2015 was Rs. 1,50,000 which was distributed among Ajay, Binay and Chetan in the ratio of 2 : 2 : 1, without taking into consideration the provisions of Partnership Deed. Pass necessary rectifying entry for the above adjustments in the books of the firm. Show your workings clearly. July 22, 2022
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
Blue chip Ltd. was registered on 1st January 2011 with a capital of Rs. 10,00,000 divided into 1,00,000 shares of Rs. 10 each. The company issued 42,000 shares of which 40,000 shares were taken up by the public and Rs. 1 per share was received with application. On 1st February, these shares were allotted and Rs. 2 per share was duly received on 28th February as allotment money. A first call of Rs. 3 per share was made on 1st March and the call money on all shares with the exception of 100 shares was received. The final call of Rs. 4 per share was made on 1st June and the amount due, with the exception of 400 shares, was received by 30th June. Pass necessary journal and Cash Book entries and prepare the Balance Sheet as at 30th June, 2011. July 14, 2022