If debentures are issued to a vendor for assets purchased and the vendor's account is credited by Rs 1,10,000, what is the journal entry if the debentures are issued at a premium of 10 %?
Match List I with List II:Choose the correct answer from the options given below:
Which of the following is correct regarding difference between sacrificing and gaining ratio? (A) Gaining Ratio is a more suitable parameter to measure new profit sharing ratio than Sacrificing Ratio. (B) Sacrificing Ratio is calculated at the time of the admission of the partner while Gaining Ratio is calculated at the time of retirement or death of the partner. (C) New partner's share of goodwill is divided between the old partners in gaining ratio while Goodwill paid to retiring partner is paid by the remaining partners in their Sacrificing ratio. (D) Sacrificing Ratio = Old Ratio - New Ratio and Gaining Ratio = New Ratio - Old Ratio. Choose the correct answer from the following options:
Arrange the following in the context of Cash Flow Statement: (A) Calculation of cash flow from Operating Activities (B) Calculation of cash flow from Financing Activities (C) Calculation of net increase/decrease in cash and cash equivalent during the year (D) Calculation of cash flow from Investing Activities (E) Calculation of net profit before tax and extraordinary item Choose the correct answer from the options given below:
Arrange the following in a sequence in which amount realised from Assets will be utilized to pay: A. Partner's Loan B. Partner's Capital C. Secured debts of the firm D. Unsecured debts of the firm E. Residue to partners Choose the correct answer from the options given below:
Arrange the following in correct sequence according to the form and content of statement of Profit and Loss: (A) Employee Benefit Expenses (B) Tax provided (C) Revenue from operations (D) Purchase of stock in Trade (E) Dividend Income Choose the correct answer from the options given below:
