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 What can be the minimum number of partners in a firm? September 23, 2022 Pass necessary Journal entries on the dissolution of a firm in the following cases: (a) Dharam, a partner, was appointed to look after the process of dissolution at a remuneration of Rs. 12,000 and he had to bear the dissolution expenses. Dissolution expenses Rs. 11,000 were paid by Dharam. (b) Jay, a partner, was appointed to look after the process of dissolution and was allowed a remuneration of Rs. 15,000. Jay agreed to bear dissolution expenses. Actual dissolution expenses Rs. 16,000 were paid by Vijay, another partner on behalf of Jay. (c) Deepa, a partner, was to look after the process of dissolution and for this work she was allowed a remuneration of Rs. 7,000. Deepa agreed to bear dissolution expenses. Actual dissolution expenses Rs. 6,000 were paid from the firm’s bank account. (d) Dev, a partner, agreed to do the work of dissolution for Rs. 7,500. He took away stock of the same amount as his commission. The stock had already been transferred to Realisation Account. (e) Jay’s, a partner, agreed to do the work of dissolution for which he was allowed a commission of Rs. 10,000. He agreed to bear the dissolution expenses. Actual dissolution expenses paid by Jay’s were Rs. 12,000. These expenses were paid by Jay’s by drawing cash from the firm. (f) A debtor of Rs. 8,000 already transferred to Realisation Account agreed to pay the realisation expenses of Rs. 7,800 in full settlement of his account. July 25, 2022 Differentiate between ‘Issued Share Capital’ and ‘Subscribed Share Capital’. (C.B.S.E. 2016 Comptt. All India) September 28, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Pass necessary Journal entries on the dissolution of a firm in the following cases: (a) Dharam, a partner, was appointed to look after the process of dissolution at a remuneration of Rs. 12,000 and he had to bear the dissolution expenses. Dissolution expenses Rs. 11,000 were paid by Dharam. (b) Jay, a partner, was appointed to look after the process of dissolution and was allowed a remuneration of Rs. 15,000. Jay agreed to bear dissolution expenses. Actual dissolution expenses Rs. 16,000 were paid by Vijay, another partner on behalf of Jay. (c) Deepa, a partner, was to look after the process of dissolution and for this work she was allowed a remuneration of Rs. 7,000. Deepa agreed to bear dissolution expenses. Actual dissolution expenses Rs. 6,000 were paid from the firm’s bank account. (d) Dev, a partner, agreed to do the work of dissolution for Rs. 7,500. He took away stock of the same amount as his commission. The stock had already been transferred to Realisation Account. (e) Jay’s, a partner, agreed to do the work of dissolution for which he was allowed a commission of Rs. 10,000. He agreed to bear the dissolution expenses. Actual dissolution expenses paid by Jay’s were Rs. 12,000. These expenses were paid by Jay’s by drawing cash from the firm. (f) A debtor of Rs. 8,000 already transferred to Realisation Account agreed to pay the realisation expenses of Rs. 7,800 in full settlement of his account. July 25, 2022
Differentiate between ‘Issued Share Capital’ and ‘Subscribed Share Capital’. (C.B.S.E. 2016 Comptt. All India) September 28, 2022