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प्रश्न
What is meant by 'Subscribed Capital'?
उत्तर
As per Section 2(86) of Companies Act, 2013, “subscribed capital” means such part of the capital which is for the time being subscribed by the members of a company. It is that part of Issued Capital that is actually subscribed by the general public.
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संबंधित प्रश्न
List the items which may be debited or credited in the capital accounts of the partners when:
(i) Capitals are fixed
(ii) Capitals are fluctuating
Give two circumstances under which the fixed capitals of partners may change.
List the items which may be debited or credited in the capital accounts of the partners when:
(i) Capitals are fixed
(ii) Capitals are fluctuating
Puneet and Akshara were partners in a firm sharing profits and losses in the ratio of 2: 3. The following was the balance sheet of the firm as on 31st March 2019.
Balance sheet of Puneet and Akshara as on 31st March 2019
| Liabilities |
Amount(₹) |
Assets |
Amount(₹) |
| Capitals: |
|
Sundry Assets |
2,00,000 |
|
Puneet - 90,000 |
|
|
|
|
Akshara - 1,10,000 |
2,00,000 |
|
|
|
|
2,00,000 |
2,00,000 |
The profits 40,000 for the year ended 31st March 2019 were divided between the partners without allowing interest on capital @ 5% p.a. and commission to Akshara @ ₹ 1,000 per quarter.
The drawings of the partners during the year were :
Puneet ₹ 2,500 per month.
Akshara ₹ 10,000 per quarter.
Showing your workings clearly, pass necessary adjustment entry in the books of the firm.
What is meant by 'Issued Capital'?
Giriija, Yatin, and Zubin were partners sharing profits in the ratio 5 : 3: 2. Zubin died on 1st August 2015. Amount due to Zubin's executor after all adjustments were ₹ 90,300. The executor was paid ₹ 10,300 in cash immediately and the balance in two equal annual installments with interest @ 6% p.a. starting from 31st March 2017. Accounts are closed on 31st March each year. Prepare Zubin's Executors Account until he is finally paid.
Which of the following is true regarding Salary to a partner when the firm maintains fluctuating capital accounts?
Name the methods by which the capital accounts of partners can be maintained?
Under the fluctuating capital method, which of the following account is maintained for each partner.
Anurag and Abhishek are partners sharing profits and losses in the ratio of 3:2. Their capital accounts showed balances of Rs. 1,50,000 and Rs. 2,00,000 respectively on Jan 01, 2003. Show the treatment of interest on capital for the year ending December 31, 2019, in the following statement.
"If the partnership deed is silent as to the payment of interest on capital and the profit for the year is Rs. 50,000".
Anurag and Abhishek are partners sharing profits and losses in the ratio of 3:2. Their capital accounts showed balances of Rs. 50,000 and Rs. 2,00,000 respectively on Jan 01, 2003. Show the treatment of interest on capital for the year ending December 31, 2019, in the following statement.
"If partnership deed provides for interest on capital @8% p.a. and the firm incurred a loss of Rs. 10, 000 during the year".
What would be the journal entry for charging interest on drawings to the partner's capital accounts?
Partner's Current Accounts are opened when their Capital Accounts are:
When only Partner's Capital Account is maintained all the adjustments are made in ______.
In Fluctuating Capital Method, the capital of a partner ______.
