State two essential features of a company. Post category:Accountancy Reading time:1 mins read SOLUTION (i) It is an artificial person created by law; (ii) It has a separate legal entity. 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 PostName an item which is transferred to credit side of Realisation Account at the time of dissolution of partnership firm, but does not involve cash payment. (C.B S.E. 2020, Mumbai Chennai) Next PostState two essential features of a Private Company. You Might Also Like Sure Ltd. purchased a running business from M/s. Rai Brothers for a sum of Rs. 15,00,000 payable Rs. 12,00,000 in fully paid shares of Rs. 10 each and balance through cheque. July 14, 2022 Mahesh, Ramesh and Suresh are partners in a firm. They do not have a Partnership Deed. At the end of the first year of the business. they faced the following problems: (a) Mahesh wants that interest on capital should be allowed to the partners but Ramesh and Suresh do not agree. (b) Ramesh wants that the partners should be allowed to draw salary but Mahesh and Suresh do not agree. (c) Mahesh and Ramesh want that Suresh should pay interest on loan given to him by the firm but Suresh does not agree. (d) Mahesh and Ramesh having contributed larger amounts of capital, desire that the profits should be distributed in the ratio of their capital contribution but Suresh does not agree. State how you will settle this dispute if the partner approach you for the purpose. September 16, 2022 Asha, Naveen and Shalini were partners in a firm sharing profits in the ratio of 5 : 3 : 2. Goodwill appeared in their books at a value of Rs. 80,000 and General Reserve at Rs. 40,000. Naveen decided to retire from the firm. On the date of his retirement, goodwill of the firm was valued at Rs. 1,20,000. The new profit-sharing ratio decided among Asha and Shalini is 2 : 3. Record necessary Journal entries on Naveen’s retirement. August 3, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Sure Ltd. purchased a running business from M/s. Rai Brothers for a sum of Rs. 15,00,000 payable Rs. 12,00,000 in fully paid shares of Rs. 10 each and balance through cheque. July 14, 2022
Mahesh, Ramesh and Suresh are partners in a firm. They do not have a Partnership Deed. At the end of the first year of the business. they faced the following problems: (a) Mahesh wants that interest on capital should be allowed to the partners but Ramesh and Suresh do not agree. (b) Ramesh wants that the partners should be allowed to draw salary but Mahesh and Suresh do not agree. (c) Mahesh and Ramesh want that Suresh should pay interest on loan given to him by the firm but Suresh does not agree. (d) Mahesh and Ramesh having contributed larger amounts of capital, desire that the profits should be distributed in the ratio of their capital contribution but Suresh does not agree. State how you will settle this dispute if the partner approach you for the purpose. September 16, 2022
Asha, Naveen and Shalini were partners in a firm sharing profits in the ratio of 5 : 3 : 2. Goodwill appeared in their books at a value of Rs. 80,000 and General Reserve at Rs. 40,000. Naveen decided to retire from the firm. On the date of his retirement, goodwill of the firm was valued at Rs. 1,20,000. The new profit-sharing ratio decided among Asha and Shalini is 2 : 3. Record necessary Journal entries on Naveen’s retirement. August 3, 2022