Question
On dissolution, A’s capital = ₹50,000, B’s capital
= ₹30,000. Cash realised = ₹60,000. Creditors = ₹20,000. Loss on realisation is shared equally. How much will A receive finally?Solution
Cash = 60,000 – Creditors 20,000 = 40,000. Total capital = 80,000 → Loss = 40,000. Share of loss = 20,000 each. Final capitals: A = 30,000, B = 10,000. Hence A receives 30,000 but cash available = 40,000 distributed = A gets 25,000, B gets 15,000.
A business availed ITC of ₹2 lakh on inputs used partly for personal purposes. What should it do?
Unclaimed dividend is shown in the balance sheet under the head
For which of the following goods, the manufacturer is not allowed to opt for composition scheme:
_______ Ratio is the indicator of firm’s financial leverage.
As per the revised National Pension System (NPS) rules, up to what maximum age can a subscriber continue in the scheme?
Deduction in respect of royalty income of authors under Chapter VI is allowed under Section:
Calculate the Current ratio based on above information?
Which person is not entitled for bonus under The Payment of Bonus Act, 1965?
A retailer holds seasonal fashion inventory purchased at ₹20 lakh. At year-end, expected selling price is ₹25 lakh, but estimated selling costs are ...
It is the duty of the company to inform the Registrar of Companies within ________ days of the decision in case the Board of Directors decides to mainta...
