Distinguish between average profits and super profits. Post category:Accountancy Reading time:1 mins read SOLUTION Average profit is the average of the profits of past few years whereas superprofit is the excess of average profits over normal profits. 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 PostHow does the market situation affect the value of goodwill of a firm? Next PostWhen there is change in the profit-sharing ratio amongst existing partners, does it require adjustment for goodwill? You Might Also Like Star Ltd. is registered with capital of Rs. 50,00,000 divided into 50,000 equity shares of Rs. 100 each, The Company issued 25,000 equity shares for subscription. Subscription was received for 23,750 shares and all the due amount was duly received, except the first and final call of Rs. 20 per share on 600 shares. Show the ‘Share Capital’ in the Balance Sheet of the company July 9, 2022 Pass entries in firm’s Journal for the following on admission of a partner: (i) Unrecorded Investments worth Rs. 20,000 are to be accounted. (ii) Unrecorded liability towards suppliers for Rs. 5,000 is to be accounted. (iii) An item of Rs. 1,600 included in Sundry Creditors is not likely to be claimed and hence should be written back. August 1, 2022 Raja Ltd. invited applications for issuing 50,000 Equity Shares of Rs. 10 each. The amount was payable as follows: July 15, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Star Ltd. is registered with capital of Rs. 50,00,000 divided into 50,000 equity shares of Rs. 100 each, The Company issued 25,000 equity shares for subscription. Subscription was received for 23,750 shares and all the due amount was duly received, except the first and final call of Rs. 20 per share on 600 shares. Show the ‘Share Capital’ in the Balance Sheet of the company July 9, 2022
Pass entries in firm’s Journal for the following on admission of a partner: (i) Unrecorded Investments worth Rs. 20,000 are to be accounted. (ii) Unrecorded liability towards suppliers for Rs. 5,000 is to be accounted. (iii) An item of Rs. 1,600 included in Sundry Creditors is not likely to be claimed and hence should be written back. August 1, 2022
Raja Ltd. invited applications for issuing 50,000 Equity Shares of Rs. 10 each. The amount was payable as follows: July 15, 2022