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Answered on 17 May CBSE/Class 12/Commerce/Accountancy Tuition/Class XI-XII Tuition (PUC)

Savita

This is an outflow of cash, and computer is a fixed nature asset so it is shown as an outflow in investing activity
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Answered on 01 May CBSE/Class 12/Commerce/Accountancy Tuition/Class XI-XII Tuition (PUC)

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The given rate of current asset(CA) to current liabilities (CL) is 1.5:1. And CA are given Rs 9,00,000. In such a situation if Accountant of the firm wants to maintain ratio of CA:CL at 2:1 then he can do this by paying CL for smoamo Rs 3,00,000 which will reduce CL as Rs 6,00,000 - Rs 3,00,000 = Rs... read more

The given rate of current asset(CA) to current liabilities (CL) is 1.5:1. And CA are given Rs 9,00,000. In such a situation if Accountant of the firm wants to maintain ratio of CA:CL at 2:1 then he can do this by paying CL for smoamo Rs 3,00,000 which will reduce CL as Rs 6,00,000 - Rs 3,00,000 = Rs 3,00,000.

At the same time, to pay CL we need to reduce Cash/Bank, then CA will be 

Rs 9,00,000 - Rs 3,00,000 =  Rs 6,00,000.

This now we have CA:CL

Rs 6,00,000 :Rs 3,00,000  i.e   2:1

 

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Answered on 12 Mar CBSE/Class 12/Commerce/Accountancy Tuition/Class XI-XII Tuition (PUC)

Apex Academy

The two methods for calculating cash flow from operating activities are as follows: 1) Direct Method: This method considers all major heads of cash payment and receipts for arriving at net cash position from operating,investing and financing activities. 2) Indirect Method: This method considers the net... read more

The two methods for calculating cash flow from operating activities are as follows:

1) Direct Method: This method considers all major heads of cash payment and receipts for arriving at net cash position from operating,investing and financing activities.

2) Indirect Method: This method considers the net income as reporteed in the income statement of the company as base and makes adjustments for cash and non-cash items to arrive at cash position.

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Answered on 12 Mar CBSE/Class 12/Commerce/Accountancy Tuition/Class XI-XII Tuition (PUC)

Ankita G.

Tutor

Current assets/current liability = 1.5/1 Expected current ratio=2:1 So to get this Ratio by paying off some of the liabilities we need to know If current asset 600000 is equal to ratio 2 then current liability should be 2/2=1 i.e. 600000/2=300000 So liabilities to be paid off = 400000-300000=100000 read more

Current assets/current liability = 1.5/1

Expected current ratio=2:1

So to get this Ratio by paying off some of the liabilities we need to know 

If current asset 600000 is equal to ratio 2 then current liability should be 2/2=1 i.e. 600000/2=300000

So liabilities to be paid off = 400000-300000=100000

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Answered on 10 Mar CBSE/Class 12/Commerce/Accountancy Tuition/Class XI-XII Tuition (PUC)

Arijit Bhattacharya

Trainer

Operating activities are the main revenue genarating activitues of an enterprise: 1. Brokerage or Commission earned by a share trading firm, fees received by a consulting firm. 2. Receipts from royalties ( publishing house), rent receipt( for those firm who owns godown or cold storage infrastructure... read more

Operating activities are the main revenue genarating activitues of an enterprise:

1. Brokerage or Commission earned by a share trading firm, fees received by a consulting firm. 

2. Receipts from royalties ( publishing house), rent receipt( for those firm who owns godown or cold storage infrastructure).

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Answered on 29 Apr CBSE/Class 12/Commerce/Accountancy Tuition/Class XI-XII Tuition (PUC)

A business has current Ratio of 4:1 & a Quick Ratio of 1.2:1. If working capital is Rs. 180000. Calculate... read more
A business has current Ratio of 4:1 & a Quick Ratio of 1.2:1. If working capital is Rs. 180000. Calculate total current Assets and Stock. read less

Deepika Agrawal

Interested to teach to class 1 to 5, 6 to 8

Current Assets/ current liabilities =4 :1 Let CL is x so, CA is 4x so, working capital = CA-CL 180000= 4x -x 180000= 3x 180000/3 = 60000 current Assets = 4* 60000=240000. Quick Assets = quick assets /current liabilites = 1.2/1 since current liabilites is x Quick assets is 1.2x quick assts is 1.2*60000... read more

Current Assets/ current liabilities =4 :1

Let CL is x

so, CA is 4x

so, working capital = CA-CL

180000= 4x -x 

180000= 3x

180000/3 = 60000

current Assets = 4* 60000=240000.

Quick Assets = quick assets /current liabilites = 1.2/1

since current liabilites is x

Quick assets is 1.2x

quick assts is 1.2*60000 = 72000

stock = CA- QA

         = 240000- 72000 = 168000

 

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Answered on 01 May CBSE/Class 12/Commerce/Accountancy Tuition/Class XI-XII Tuition (PUC)

Pink, Black and White are partners sharing 5:3:2 White is guaranteed a minimum amount of Rs 10,000 as... read more
Pink, Black and White are partners sharing 5:3:2 White is guaranteed a minimum amount of Rs 10,000 as share of profit every year. Any deficiency shall be met by Black. The profit for the year ending 31st March 2005 where Rs 60,000. Prepare profit & loss appropriation account. read less

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The partners Pink, Black & White are sharing profits in the ratio 5:3:2. Given profits for the year ending 31st March 2005 are Rs 60,000. As there is no loss so no deficiency will be met by Black. And White enjoys a minimum guarantee of Rs 10,000. If we distribute the profits to the partners it will... read more

The partners Pink, Black & White are sharing profits in the ratio 5:3:2. Given profits for the year ending 31st March 2005 are Rs 60,000. As there is no loss so no deficiency will be met by Black. And White enjoys a minimum guarantee of Rs 10,000. If we distribute the profits to the partners it will be like this.

Pink     60,000/10*5= 30,000

Black   60,000/10*3= 18,000

White  60,000/10*2=. 12,000

The clause of minimum guarantee won't be exercised because as per PSR White is Rs 12,000.

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Answered on 14 Mar CBSE/Class 12/Commerce/Accountancy Tuition/Class XI-XII Tuition (PUC)

A and B are partners sharing profits on capital ratio. Their capitals were Rs 5,00,000 and Rs 7,00,000... read more
A and B are partners sharing profits on capital ratio. Their capitals were Rs 5,00,000 and Rs 7,00,000 respectively. They withdraw Rs 50,000 and 70,000 for the year ending 31st March 2006. Interest on drawings was provided at 8% p.a . Journalise. read less

CA Sahil Goyal

Tutor

A's cap .....dr.2000 B's cap .....dr.2800 To Interest on Drawings 4800 (on average basis i.e 6/12 if withdrwan during the year).
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Answered on 02 May CBSE/Class 12/Commerce/Accountancy Tuition/Class XI-XII Tuition (PUC)

Calculate the interest on drawings of Ramesh at 10%p.a for the year ended 31st Dec 2002 in each of the... read more
Calculate the interest on drawings of Ramesh at 10%p.a for the year ended 31st Dec 2002 in each of the following alternative cases: (i) If he withdraw Rs 6,000 in the beginning of each quarter. (ii) If he withdraw Rs 6,000 at the end of each quarter. (iii) If he withdraw Rs 6,000 during the middle of each quarter. (iv) If he withdraw Rs. 6,000 per quarter. read less

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Calculations of the interest on drawings made by Ramesh for the year ended on 31st Dec, 2002 will be as follows - 1. When withdrawal is done at the beginning of the quarter- 6,000*4*10%*7.5/12= Rs 1,500 2. When withdrawal is done at the end of the quarter- 6,000*4*10%*4.5/12=... read more

Calculations of the interest on drawings made by Ramesh for the year ended on 31st  Dec, 2002 will be as follows -

1. When withdrawal is done at the beginning of the quarter-

            6,000*4*10%*7.5/12= Rs 1,500

2. When withdrawal is done at the end of the quarter-

            6,000*4*10%*4.5/12= Rs 900

3. When withdrawal is done during the middle of the quarter-

           6,000*4*10%*6/12 = Rs 1,200

4. When it's on average basis then the treatment will be same as in 3rd case.

i.e. Rs 1,200

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