Under which type of activity will you classify ‘Proceeds from sale of investment’ while preparing Cash Flow Statement? Post category:Accountancy Reading time:1 mins read SOLUTION Investing 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 PostClassify the following activities as (i) Operating, (ii) Investing or (iii) Financing in case of a ‘Financial Enterprise’: (a) Proceeds from Sale of Investments; (b) Interest received on Debentures held as Investment Next PostUnder which type of activity will you classify ‘Proceeds from sale of patents’ while preparing Cash Flow Statement? You Might Also Like Global Ltd. issued 10,000, 8% Debentures of Rs. 100 each redeemable in four equal instalments by draw of lots from the end of 3 years at a premium of Rs. 9. Pass the Journal entries for writing off the Loss on Issue of Debentures. Also prepare Loss on issue of Debentures Account. July 18, 2022 On 31st March, 2014, the balances in the Capital Accounts of Saroj, Mahinder and Umar after making adjustments for profits and drawings, etc; were Rs. 80,000, Rs. 60,000, Rs. 40,000 respectively. Subsequently, it was discovered that the interest on capital and drawings has been omitted. (a) The profit for the year ended 31st March, 2014 was Rs. 80,000. (b) During the year Saroj and Mahinder each withdrew a sum of Rs. 24,000 in equal instalments in the end of each month and Umar withdrew Rs. 36,000. (c) The interest on drawings was to be charged @ 5% p.a. and interest on capital was to be allowed @ 10% p.a. (d) The profit-sharing ratio among partners was 4 : 3 : 1. Showing your workings clearly, pass the necessary rectifying entry. July 22, 2022 C’s Capital Account has a credit balance of Rs. 2,00,000; Cs Loan Account is showing a debit balance of Rs. 40,000. Bank Balance is Rs. 3,00,000. Show the treatment of C’s Loan A/c. September 27, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Global Ltd. issued 10,000, 8% Debentures of Rs. 100 each redeemable in four equal instalments by draw of lots from the end of 3 years at a premium of Rs. 9. Pass the Journal entries for writing off the Loss on Issue of Debentures. Also prepare Loss on issue of Debentures Account. July 18, 2022
On 31st March, 2014, the balances in the Capital Accounts of Saroj, Mahinder and Umar after making adjustments for profits and drawings, etc; were Rs. 80,000, Rs. 60,000, Rs. 40,000 respectively. Subsequently, it was discovered that the interest on capital and drawings has been omitted. (a) The profit for the year ended 31st March, 2014 was Rs. 80,000. (b) During the year Saroj and Mahinder each withdrew a sum of Rs. 24,000 in equal instalments in the end of each month and Umar withdrew Rs. 36,000. (c) The interest on drawings was to be charged @ 5% p.a. and interest on capital was to be allowed @ 10% p.a. (d) The profit-sharing ratio among partners was 4 : 3 : 1. Showing your workings clearly, pass the necessary rectifying entry. July 22, 2022
C’s Capital Account has a credit balance of Rs. 2,00,000; Cs Loan Account is showing a debit balance of Rs. 40,000. Bank Balance is Rs. 3,00,000. Show the treatment of C’s Loan A/c. September 27, 2022
