Why prepaid expenses are considered as Current assets? Post category:Accountancy Reading time:1 mins read SOLUTION They are treated as Current assets because if the expenditure for such expenses had not been incurred, cash would have to be spent in the near future. 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 PostWhy inventory is excluded from liquid assets? Next PostWhy prepaid expenses are not considered as liquid assets? You Might Also Like A and B are in partnership sharing profits and losses in die ratio of 3: 2. They admit C into partnership with l / 5th share which he acquires equally from A and B. Accountant has calculated new profit-sharing ratio as 5: 3: 2. Is accountant correct? (C.B.SE Sample Paper 2020) September 27, 2022 A and B were partners in a firm sharing profits and losses in the ratio of 3 : 2. They admitted C as a new partner for 3/7th share in the profit and the new profit-sharing ratio will be 2 : 2 : 3. C brought Rs. 2,00,000 as his capital and Rs. 1,50,000 as premium for goodwill. Half of their share of premium was withdrawn by A and B from the firm. Calculate sacrificing ratio and pass necessary Journal entries for the above transactions in the books of the firm. August 1, 2022 What is the number of major heads of the Equity and Liabilities side of a Company’s Balance Sheet? September 30, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
A and B are in partnership sharing profits and losses in die ratio of 3: 2. They admit C into partnership with l / 5th share which he acquires equally from A and B. Accountant has calculated new profit-sharing ratio as 5: 3: 2. Is accountant correct? (C.B.SE Sample Paper 2020) September 27, 2022
A and B were partners in a firm sharing profits and losses in the ratio of 3 : 2. They admitted C as a new partner for 3/7th share in the profit and the new profit-sharing ratio will be 2 : 2 : 3. C brought Rs. 2,00,000 as his capital and Rs. 1,50,000 as premium for goodwill. Half of their share of premium was withdrawn by A and B from the firm. Calculate sacrificing ratio and pass necessary Journal entries for the above transactions in the books of the firm. August 1, 2022
What is the number of major heads of the Equity and Liabilities side of a Company’s Balance Sheet? September 30, 2022