Question
In preparing financial statements as per Schedule III of
the Companies Act, ABC Ltd. classifies ‘Share Application Money Pending Allotment’ under current liabilities. The amount is intended for equity shares and complies with conditions of allotment. Is this classification correct?Solution
If the conditions of allotment are met, such application money is part of equity and not a liability.
More Presentation of Company Financial Statements Questions
The monthly savings of three individuals 'P', 'Q', and 'R' are such that the average savings of 'P' and 'Q', 'Q' and 'R', and 'R' and 'P' are Rs. 2,000,...
1120.04 – 450.18 + 319.98 ÷ 8.06 = ?
2√574 + 19.956% of 1449.978 = ?% of 628.08
You are provided with three sequences below. Determine the values of P, Q, and R, and then identify the relationship among them.<...
(0.89 3 + 1.64 3 +2.76 3 ) ÷ 5.89 = ?
What approximate value will replace the question mark (?) in the following?
? –...
33.33% of 809.891 + 66.66% of 212.91 = ?
(91.004)2 - (40.003)2 - (52.9)2 = ?
(9.013 – 15.04) = ? + 9.98% of 5399.98
