State one transaction which results in a decrease in ‘Debt-Equity Ratio’ and no change in ‘Current Ratio’. Post category:Accountancy Reading time:1 mins read SOLUTION Conversion of Debentures into Shares. 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 PostWhat does a low proprietary ratio indicate? Next PostState with reason whether repayment of long-term loan will result in increase, decrease or no change of debt-equity ratio. You Might Also Like Would a ‘charitable dispensary’ run by 8 members be deemed a partnership firm? Give reason in support of your answer. September 26, 2022 Mohan, Vijay and Anil are partners, the balances of their Capital Accounts being Rs. 30,000, Rs. 25,000 and Rs. 20,000 respectively. In arriving at these amounts profit for the year ended 31st March, 2019, Rs. 24,000 had already been credited to partners in the proportion in which they shared profits. Their drawings were Rs. 5,000 (Mohan), Rs. 4,000 (Vijay) and Rs. 3,000 (Anil) during the year. Subsequently, the following omissions were noticed and it was decided to rectify the errors: (a) Interest on capital @ 10% p.a. (b) Interest on drawings: Mohan Rs. 250, Vijay Rs. 200 and Anil Rs. 150. Make necessary corrections through a Journal entry and show your workings clearly. July 22, 2022 Mohit and Sobhit are partners sharing profits in the ratio of 3: 2. Rohit was admitted for 1 / 6th share of profit with a minimum guaranteed amount of Rs. 10,000. At the close of the first financial year the firm earned a profit of Rs. 54,000. Find out the share of profit which Mohit, Sobhit and Rohit will get. October 11, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Would a ‘charitable dispensary’ run by 8 members be deemed a partnership firm? Give reason in support of your answer. September 26, 2022
Mohan, Vijay and Anil are partners, the balances of their Capital Accounts being Rs. 30,000, Rs. 25,000 and Rs. 20,000 respectively. In arriving at these amounts profit for the year ended 31st March, 2019, Rs. 24,000 had already been credited to partners in the proportion in which they shared profits. Their drawings were Rs. 5,000 (Mohan), Rs. 4,000 (Vijay) and Rs. 3,000 (Anil) during the year. Subsequently, the following omissions were noticed and it was decided to rectify the errors: (a) Interest on capital @ 10% p.a. (b) Interest on drawings: Mohan Rs. 250, Vijay Rs. 200 and Anil Rs. 150. Make necessary corrections through a Journal entry and show your workings clearly. July 22, 2022
Mohit and Sobhit are partners sharing profits in the ratio of 3: 2. Rohit was admitted for 1 / 6th share of profit with a minimum guaranteed amount of Rs. 10,000. At the close of the first financial year the firm earned a profit of Rs. 54,000. Find out the share of profit which Mohit, Sobhit and Rohit will get. October 11, 2022