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 Twitter Opens in a new window Facebook Opens in a new window Google+ 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 Akhil and Bimal are partners sharing profits in the ratio of 3: 2. Akhil gave loan to the firm of Rs. 1,00,000 on 1st October, 2021. On the same date, the firm gave loan to Bimal of Rs. 1,00 000. They do not have an agreement as to interest. Akhil had also given his personal property for firm’s godown at a monthly rent of Rs. 5,000. Firm earns profit of Rs. 1,03,000 (before above adjustments) for the year ended 31st March, 2022. Show the distribution of profit for the year. September 16, 2022 From the following information, calculate Inventory Turnover Ratio: August 13, 2022 Madan and Gopal are partners sharing profits in the ratio of 3 : 2. They admit Sooraj for 1/3rd share in profits on 1st April, 2019. They also decide to share future profits equally. Goodwill of the firm was valued at Rs. 5,50,000. Goodwill existed in the books of account at Rs. 1,00,000, which the partners decide to carry forward. Sooraj is unable to bring his share of goodwill. Pass the necessary Journal entries on admission of Sooraj, if: (a) Goodwill is not to be raised and written off; and (b) Goodwill is to be raised and written off. August 1, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Akhil and Bimal are partners sharing profits in the ratio of 3: 2. Akhil gave loan to the firm of Rs. 1,00,000 on 1st October, 2021. On the same date, the firm gave loan to Bimal of Rs. 1,00 000. They do not have an agreement as to interest. Akhil had also given his personal property for firm’s godown at a monthly rent of Rs. 5,000. Firm earns profit of Rs. 1,03,000 (before above adjustments) for the year ended 31st March, 2022. Show the distribution of profit for the year. September 16, 2022
Madan and Gopal are partners sharing profits in the ratio of 3 : 2. They admit Sooraj for 1/3rd share in profits on 1st April, 2019. They also decide to share future profits equally. Goodwill of the firm was valued at Rs. 5,50,000. Goodwill existed in the books of account at Rs. 1,00,000, which the partners decide to carry forward. Sooraj is unable to bring his share of goodwill. Pass the necessary Journal entries on admission of Sooraj, if: (a) Goodwill is not to be raised and written off; and (b) Goodwill is to be raised and written off. August 1, 2022