What is meant by Financing Activities? Post category:Accountancy Reading time:1 mins read SOLUTION Financing activities are the activities that result in change in Capital and borrowings of the enterprise. 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 PostList any two investing activities which result into outflow’ of cash. Next PostGive two examples of Cash Flows from Financing Activities. You Might Also Like Show how the following will be recorded in the Capital Accounts of the Partners Sohan and Mohan when their capitals are fluctuating: July 21, 2022 A and B are partners in a firm sharing profits and losses in the ratio 3 : 1. They admit C for 1/4th share on 31st March, 2014 when their Balance Sheet was as follows: August 2, 2022 A, B and C are partners in a firm. Net profit of the firm for the year ended 31st March, 2019 is Rs. 30,000, which has been duly distributed among the partners, in their agreed ratio of 3 : 1 : 1. It is noticed on 10th April, 2019 that the undermentioned transactions were not passed through the books of account of the firm for the year ended 31st March, 2019. (a) Interest on Capital @ 6% per annum, the capital of A, B and C being Rs. 50,000; Rs. 40,000 and Rs. 30,000 respectively. (b) Interest on drawings: A Rs. 350; B Rs. 250; C Rs. 150. (c) Partners’ Salaries: A Rs. 5,000; B Rs. 7,500. (d) Commission due to A (for some special transaction) Rs. 3,000. You are required to pass a Journal entry, which will not affect Profit and Loss Account of the firm and rectify the position of partners inter se. July 22, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Show how the following will be recorded in the Capital Accounts of the Partners Sohan and Mohan when their capitals are fluctuating: July 21, 2022
A and B are partners in a firm sharing profits and losses in the ratio 3 : 1. They admit C for 1/4th share on 31st March, 2014 when their Balance Sheet was as follows: August 2, 2022
A, B and C are partners in a firm. Net profit of the firm for the year ended 31st March, 2019 is Rs. 30,000, which has been duly distributed among the partners, in their agreed ratio of 3 : 1 : 1. It is noticed on 10th April, 2019 that the undermentioned transactions were not passed through the books of account of the firm for the year ended 31st March, 2019. (a) Interest on Capital @ 6% per annum, the capital of A, B and C being Rs. 50,000; Rs. 40,000 and Rs. 30,000 respectively. (b) Interest on drawings: A Rs. 350; B Rs. 250; C Rs. 150. (c) Partners’ Salaries: A Rs. 5,000; B Rs. 7,500. (d) Commission due to A (for some special transaction) Rs. 3,000. You are required to pass a Journal entry, which will not affect Profit and Loss Account of the firm and rectify the position of partners inter se. July 22, 2022