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प्रश्न
List the categories of individuals other than the minors who cannot become the members of a partnership firm
उत्तर
The individuals other than minors who cannot be admitted by a partnership firm are:
(a) Persons of unsound mind
(b) Persons disqualified by any law
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संबंधित प्रश्न
'India Auto Ltd.' is registered with an authorised capital of Rs 7,00,00,000 divided into 7,00,000 shares Rs 100 each. The company issued 50,000 shares to the vendor for building purchased and 2,00,000 shares were issued to the public. The amount was payable as follows :
On application and allotment — Rs 20 per share
On the first call — Rs 50 per share
On second and final call — The balance
All calls were made and were duly received except on 100 shares held by Rajani, who failed to pay the second and final call. Her shares were forfeited.
Present the 'Share Capital' in the Balance Sheet of the company as per Schedule VI Part I of the
Companies Act, 1956. Also, prepare 'Notes to Accounts'.
On 1st April 2012, Mayank Ltd. was formed with an authorised capital of Rs 25,00,000 divided into 50,000 equity shares of Rs 50 each. The company issued a prospectus inviting applications for 45,000 shares. The issue price was payable as under :
On Application: Rs 15
On Allotment: Rs 20
On Call: Balance amount
The issue was fully subscribed and the company allotted shares to all the applicants. The company did not make the call during the year. Show the following:
(a) Share capital in the Balance Sheet of the company as per revised Schedule-VI, Part-I of the Companies Act, 1956.
(b) Also, prepare 'Notes to Accounts' for the same.
Y Ltd. forteited 100 equity shares of Rs 10 each for the non-payment of first call of Rs 2 per share. The final call of Rs 2 per share was yet to be made.
Y Ltd. invited applications for issuing 2000, 9% debentures of Rs 100 each at a discount of 10%. The whole amount was payable at the time of application. Applications for 2400 debentures were received and pro-rata allotment was made to all the applicants.
Pass necessary journal entries for the issue of debentures.
C India Ltd. purchased machinery from B India Ltd. Payment to B India Ltd. was made as follows:
(i) By issuing 10,000 equity shares of Rs 10 each at a premium of 20%.
(ii) By issuing 1000, 9% debentures of Rs 100 each at a discount of 5%.
(iii) Balance by giving a bank draft of Rs 37,000.
Pass necessary journal entries in the books of C India Ltd. for the purchase of machinery and payment to B India Ltd.
The Share Capital which a company is authorised to issue by its Memorandum of Association is __________.
Give one word/term/phrase for the following statement.
The capital which is subscribed by the public.
State whether you agree or disagree with following statement:
Public limited company can issue its share without issuing its prospectus.
10000 equity shares of ₹ 10 each issued at 10% premium. Calculate the total amount of share premium.
Company sends Regret letter for 100 shares and Allotment letter to 25000 shareholders. Application money was ₹ 20 per share. Calculate the amount of application money which company is refunding.
Which of the following statement is/are true?
- Authorized Capital < Issued Capital
- Authorized Capital ≥ Issued Capital
- Subscribed Capital ≤ Issued Capital
- Subscribed Capital > Issued Capital
Krishan Ltd has Issued Capital of 20, 00,000 Equity shares of ₹10 each. Till Date ₹8 per share have been called up and the entire amount received except calls of ₹4 per share on 800 shares and ₹3 per share from another holder who held 500 shares. What will be amount appearing as ‘Subscribed but not fully paid capital’ in the balance sheet of the company?
Radhey Ltd. took over assets of ₹ 14,00,000 and liabilities of ₹ 6,00,000 of Krishna Ltd. Radhey Ltd. paid the purchase consideration by issuing 10,000, 8% Debentures of 100 each at a premium of 10%.
Pass necessary journal entries in the books of Radhey Ltd.
1000 shares issued @10% Premium considering face value for ₹ 10/- Calculate Premium.
Ganesh draws a bill for ₹ 40,000 on 15th January, 2020 for 2 months. He discounted the bill with Bank of India @ 15% p.a. on the same day. Calculate the amount of discount.
Mukund Ltd. invited applications for issuing 50,000 equity shares of ₹ 10 each at 10% premium. The amount per share was payable as follows: ₹ 3 on application, ₹ 3 (including premium) on allotment and balance amount on first and final call. Applications were received for 1,20,000 shares and shares were allotted on pro-rata basis to all the applicants. The excess money received on application was adjusted towards sums due on allotment only. Application money in excess to sums due on allotment was refunded. A shareholder who had applied for 6,000 shares, could not pay the call money and his shares were forfeited.
Pass necessary Journal entries for the above transactions in the books of Mukund Ltd.
The liability of shareholder of public limited company is ______.
Parth Company Limited was registered with an authorised capital of ₹ 30,00,000 divided into 3,00,000 equity shares of ₹ 10 each. Company issued 2,00,000 equity shares of ₹ 10 each at a premium of ₹ 2 per share. Company received applications for 1,60,000 equity shares and were allotted the shares.
Company received application money ₹ 3 per share, allotment money ₹ 4 per share (including premium) and first call money ₹ 3 per share.
The Directors have not made final call of ₹ 2 per share. All money were received except one shareholder holding 1,000 shares did not pay the first call.
Show Authorised capital, Issued capital, Subscribed capital, Called-up capital, Paid-up capital, Calls-in-Arrears and Share Premium amount in company Balance Sheet.
