Under which type of activity will you classify ‘Refund of Income Tax received’ while preparing the Cash Flow Statement? Post category:Accountancy Reading time:1 mins read SOLUTION Operating Activity. 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 PostHow will you treat payment of tax and payment of dividend in a Cash How statement? Next PostUnder which type of activity will you classify ‘Commission and Royalty Received’ while preparing Cash Flow Statement? You Might Also Like Aman commenced business with a capital of Rs. 2,50,000 on 1st April, 2013. During the five years ended 31st March, 2018, the following profits and losses were made: 31st March, 2014−Loss Rs. 5,000 31st March, 2015−Profit Rs. 13,000 31st March, 2016−Profit Rs. 17,000 31st March, 2017−Profit Rs. 20,000 31st March, 2018−Profit Rs. 25,000 During this period he had drawn Rs. 40,000 for his personal use. On 1st April, 2018, he admitted Boman into partnership on the following terms: Boman to bring for his half share in the business, capital equal to A’s Capital on 31st March, 2018 and to pay for the one-half share of goodwill of the business, on the basis of three times the average profit of the last five years. Prepare the statement showing what amount Boman should invest to become a partner and pass entries to record the transactions relating to admission. August 1, 2022 Atul and Mithun are partners sharing profit in ratio 3:2, Balances as on 1st April 2021 were as follows: Capital account (fixed) – Atul – 7500000 and Mithun – 2600000, Loan accounts – Atul – 300000(Cr) and Mithun – 200000(Dr). It was agreed to allow and charge interest @ 8% per annum. Partnership deed provided to allow interest on capital @ 10% per annum interest on drawing was changed 75000 each. Profit before giving effect to above was Rs. 2,28,000 for year ended 31st March 2022. Prepare profit and loss appropriation account. July 20, 2022 Following information is given about a company: August 17, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.