What are the two types of shares which a Company can issue? Post category:Accountancy Reading time:1 mins read SOLUTION (i) Preference Shares, and (ii) Equity Shares. 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 PostWhat is a share? Next PostWhat are preference Shares? You Might Also Like Cash Sales Rs. 2,20,000; Credit Sales Rs. 3,00,000; Sales Return Rs. 20,000; Gross Profit Rs. 1,00,000; Operating Expenses Rs. 25,000; Non-operating incomes Rs. 30,000; Non-operating Expenses Rs. 5,000. Calculate Net Profit Ratio. August 17, 2022 Ajay, Binay and Chetan were partners sharing profits in the ratio of 3 : 3 : 2. The Partnership Deed provided for the following: (i) Salary of Rs. 2,000 per quarter to Ajay and Binay. (ii) Chetan was entitled to a commission of Rs. 8,000 (iii) Binay was guaranteed a profit of Rs. 50,000 p.a. The profit of the firm for the year ended 31st March, 2015 was Rs. 1,50,000 which was distributed among Ajay, Binay and Chetan in the ratio of 2 : 2 : 1, without taking into consideration the provisions of Partnership Deed. Pass necessary rectifying entry for the above adjustments in the books of the firm. Show your workings clearly. July 22, 2022 State the ratio in which the old partners share the amount of cash brought in by the new partner as premium for goodwill. September 26, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Cash Sales Rs. 2,20,000; Credit Sales Rs. 3,00,000; Sales Return Rs. 20,000; Gross Profit Rs. 1,00,000; Operating Expenses Rs. 25,000; Non-operating incomes Rs. 30,000; Non-operating Expenses Rs. 5,000. Calculate Net Profit Ratio. August 17, 2022
Ajay, Binay and Chetan were partners sharing profits in the ratio of 3 : 3 : 2. The Partnership Deed provided for the following: (i) Salary of Rs. 2,000 per quarter to Ajay and Binay. (ii) Chetan was entitled to a commission of Rs. 8,000 (iii) Binay was guaranteed a profit of Rs. 50,000 p.a. The profit of the firm for the year ended 31st March, 2015 was Rs. 1,50,000 which was distributed among Ajay, Binay and Chetan in the ratio of 2 : 2 : 1, without taking into consideration the provisions of Partnership Deed. Pass necessary rectifying entry for the above adjustments in the books of the firm. Show your workings clearly. July 22, 2022
State the ratio in which the old partners share the amount of cash brought in by the new partner as premium for goodwill. September 26, 2022
