Internal manipulation of accounting records is much easier in computerized accounting than in manual accounting. How?

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Raunak Adlakha

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P P Limited is Share Broker Company. G G Limited is engaged in manufacturing of packaged food. P P Limited purchased 5,000 equity shares of Rs. 100 each of Savita Limited. G G Limited also purchased 10,000 equity shares of Rs. 100 each of Savita Limited. For the purpose of preparing their respective Cash Flow Statements, under which category of activities the purchase of shares will be classified by P P Limited and G G Limited?
For GG limited it is an investment so it come in Investing Activity but as PP Ltd business is of selling shares so it will be part of Operating Activity :)
Balakrishna
Why should a new partner contribute towards goodwill on his admission?
Due to admission of a new partner, old partners have to share their part in their value of goodwill created till date. Hence they (old) partners wants contribution from new partner for their compromise...
Chittaranjan
Where will you show purchase of computer in cash flow statement?
This is an outflow of cash, and computer is a fixed nature asset so it is shown as an outflow in investing activity
Vijaya
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There is no agreement regarding sharing of profits (or) partnerships salary. Rose is a whole-time partner whereas Lilly does not attend business regularly. Rose claims Rs 3,000 salary a month and 60% of balance profits Rs 24,600 Lilly advanced Rs 10,000 as loan and now she claims 10% interest. State how you will settle the accounts.
No salary to any partner. Profits will be shared equally. Interest on loan will be paid at 6% p.a.
Shubham
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Give two examples of â??Significant non cash transactionsâ??.
Goodwill written off during the year and depreciation charged on fixed assets
Vidyarajeev
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