What is meant by issue of shares for consideration other than cash? Post category:Accountancy Reading time:1 mins read SOLUTION A Company may issue fully paid shares for consideration other than cash, in the following circumstances: (1) Issue of Shares to Promoters; (2) Issue of Shares for Purchase of Assets. 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 PostAt 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? Next PostWhat is meant by forfeiture of shares? You Might Also Like Partnership Deed of C and D, who are equal partners, has a clause that any partner may retire from the firm on the following terms by giving a six-month notice in writing: The retiring partner shall be paid − (a) the amount standing to the credit of his Capital Account and Current Account. (b) his share of profit to the date of retirement, calculated on the basis of the average profit of the three preceding completed years. (c) half the amount of the goodwill of the firm calculated at 11/2 times the average profit of the three preceding completed years. C gave a notice on 31st March, 2017 to retire on 30th September, 2017, when the balance of his Capital Account was Rs. 6,000 and his Current Account (Dr.) Rs. 500. Profits for the three preceding completed years ended 31st March, were: 2015 − Rs. 2,800; 2016 − Rs. 2,200 and 2017 − Rs. 1,600. What amount is due to C as per the partnership agreement? August 3, 2022 Diya, Riya and Tiya were partners sharing profits and losses in the ratio of 2: 3: 5. Tiya died on 28th November, 2019. Her share of profit was taken equally by Diya and Riya. Diya’s share of profit in the new firm will be__. (C.B.S.E. 2020) October 8, 2022 Ratio of Current Assets (Rs. 8,75,000) to Current Liabilities (Rs. 3,50,000) is 2.5: 1. The firm wants to maintain Current Ratio of 2: 1 by purchasing goods on credit. Compute amount of goods that should be purchased on credit. August 12, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Partnership Deed of C and D, who are equal partners, has a clause that any partner may retire from the firm on the following terms by giving a six-month notice in writing: The retiring partner shall be paid − (a) the amount standing to the credit of his Capital Account and Current Account. (b) his share of profit to the date of retirement, calculated on the basis of the average profit of the three preceding completed years. (c) half the amount of the goodwill of the firm calculated at 11/2 times the average profit of the three preceding completed years. C gave a notice on 31st March, 2017 to retire on 30th September, 2017, when the balance of his Capital Account was Rs. 6,000 and his Current Account (Dr.) Rs. 500. Profits for the three preceding completed years ended 31st March, were: 2015 − Rs. 2,800; 2016 − Rs. 2,200 and 2017 − Rs. 1,600. What amount is due to C as per the partnership agreement? August 3, 2022
Diya, Riya and Tiya were partners sharing profits and losses in the ratio of 2: 3: 5. Tiya died on 28th November, 2019. Her share of profit was taken equally by Diya and Riya. Diya’s share of profit in the new firm will be__. (C.B.S.E. 2020) October 8, 2022
Ratio of Current Assets (Rs. 8,75,000) to Current Liabilities (Rs. 3,50,000) is 2.5: 1. The firm wants to maintain Current Ratio of 2: 1 by purchasing goods on credit. Compute amount of goods that should be purchased on credit. August 12, 2022