What is meant by unsecured debenture? Post category:Accountancy Reading time:1 mins read SOLUTION These debentures are those which are not given any security. The holders of such debentures are treated as unsecured creditors at the time of liquidation of the Company. 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 PostWhat is meant by ‘Secured or Mortgage Debenture’? Next PostWhat is meant by registered debenture? You Might Also Like What is meant by ‘Private Placement of Shares’? (C.B.S.E. 2019) September 28, 2022 Three Chartered Accountants A, B and C form a partnership, profits being shared in the ratio of 3 : 2 : 1 subject to the following: (a) C’s share of profit guaranteed to be not less than Rs. 15,000 p.a. (b) B gives a guarantee to the effect that gross fee earned by him for the firm shall be equal to his average gross fee of the preceding five years when he was carrying on profession alone, which on an average works out at Rs. 25,000. The profit for the first year of the partnership are Rs. 75,000. The gross fee earned by B for the firm is Rs. 16,000. You are required to show Profit and Loss Appropriation Account after giving effect to the above. July 22, 2022 What is meant by ‘Hidden Goodwill’? (AI 2017 C) October 8, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Three Chartered Accountants A, B and C form a partnership, profits being shared in the ratio of 3 : 2 : 1 subject to the following: (a) C’s share of profit guaranteed to be not less than Rs. 15,000 p.a. (b) B gives a guarantee to the effect that gross fee earned by him for the firm shall be equal to his average gross fee of the preceding five years when he was carrying on profession alone, which on an average works out at Rs. 25,000. The profit for the first year of the partnership are Rs. 75,000. The gross fee earned by B for the firm is Rs. 16,000. You are required to show Profit and Loss Appropriation Account after giving effect to the above. July 22, 2022