State two essential features of a Public Company. Post category:Accountancy Reading time:1 mins read SOLUTION (i) there is no restriction on the transfer of its shares; (ii) Minimum number of its members is 7 and there is no restriction on maximum number. 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 PostState two essential features of a Private Company. Next PostWhat is a share? You Might Also Like At what rate interest on Calls-in-Advance may be paid by a Company according to Table F of Schedule I of the Companies Act, 2013? September 28, 2022 A, B and C were partners. Their fixed capitals were Rs 60,000, Rs. 40,000 and Rs. 20,000 respectively. Their profit-sharing ratio was 2 : 2 : 1. According to the Partnership Deed, they were entitled to interest on capital @ 5% p.a. In addition, B was also entitled to draw a salary of Rs. 1,500 per month. C was entitled to a commission of 5% on the profits after charging the interest on capital, but before charging the salary payable to B. The net profits for the year, Rs. 80,000, were distributed in the ratio of their capitals without providing for any of the above adjustments. Showing your workings clearly, pass the necessary adjustment entry. July 22, 2022 From the following information, calculate Opening and Closing Trade Receivables, if Trade Receivables Turnover Ratio is 3 Times: (i) Cash Revenue from Operations is 1/3rd of Credit Revenue from Operations. (ii) Cost of Revenue from Operations is Rs. 3,00,000. (iii) Gross Profit is 25% of the Revenue from Operations. (iv) Trade Receivables at the end are 3 Times more than that of in the beginning. August 16, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
At what rate interest on Calls-in-Advance may be paid by a Company according to Table F of Schedule I of the Companies Act, 2013? September 28, 2022
A, B and C were partners. Their fixed capitals were Rs 60,000, Rs. 40,000 and Rs. 20,000 respectively. Their profit-sharing ratio was 2 : 2 : 1. According to the Partnership Deed, they were entitled to interest on capital @ 5% p.a. In addition, B was also entitled to draw a salary of Rs. 1,500 per month. C was entitled to a commission of 5% on the profits after charging the interest on capital, but before charging the salary payable to B. The net profits for the year, Rs. 80,000, were distributed in the ratio of their capitals without providing for any of the above adjustments. Showing your workings clearly, pass the necessary adjustment entry. July 22, 2022
From the following information, calculate Opening and Closing Trade Receivables, if Trade Receivables Turnover Ratio is 3 Times: (i) Cash Revenue from Operations is 1/3rd of Credit Revenue from Operations. (ii) Cost of Revenue from Operations is Rs. 3,00,000. (iii) Gross Profit is 25% of the Revenue from Operations. (iv) Trade Receivables at the end are 3 Times more than that of in the beginning. August 16, 2022