State with reason whether ‘Discount received on making payment to suppliers’ would result into inflow, outflow or no flow of cash. Post category:Accountancy Reading time:1 mins read SOLUTION No flow. It does not involve cash. Please Share This Share this content Opens in a new window Twitter Opens in a new window Facebook Opens in a new window Google+ 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 PostState with reason whether ‘Old furniture written off would result into inflow / outflow or no flow of cash. Next PostWhy is separate disclosure of cash flow from investing activities important while preparing Cash Flow Statement? (C.B.S.E. 2016) You Might Also Like P, Q and R are partners sharing profits and losses in the ratio of 3: 3: 2 respectively. Their respective capitals are in their profit-sharing proportions. On 1st April, 2018, the total capital of the firm and the balance of General Reserve are Rs. 80,000 and Rs. 20,000 respectively. During the year 2018-19, the firm made a profit of Rs. 28,000 before charging interest on capital @ 5%. The drawings of the partners are P — Rs. 8,000; Q — Rs. 7,000; and R — Rs. 5,000. On 31st March, 2019, their liabilities were Rs. 18,000. On this date, they decided to dissolve the firm. The assets realised Rs. 1,08,600 and realisation expenses amounted to Rs. 1,800. Prepare necessary Ledger Accounts to close the books of the firm. October 8, 2022 Ashmit, Abbas and Karman are partners sharing profits in the ratio of 3: 2: 1. Abbas is guaranteed minimum profit of Rs. 1,50,000 per annum. The firm incurred loss for the year ended 31st March, 2022 of Rs. 30,000. Prepare Profit & Loss Appropriation Account for the year. October 18, 2022 A and B were partners sharing profits and losses in the ratio of 3: 2. Their Balance Sheet as at 31st March, 2018, was as follows: November 4, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.