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प्रश्न
Write the word/term/phrase which can substitute the following statement:
The amount that a fixed asset is expected to realise on its disposal.
उत्तर
The amount that a fixed asset is expected to realise on its disposal. - Scrap value
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संबंधित प्रश्न
Short Answer Question
What is meant by Calls-in-Advance?
Long Answer Question
Describe the purposes for which a company can use ‘Securities Premium Account’
Long Answer Question
Explain the terms ‘Over-subscription’ and ‘Under-subscription’. How are they dealt with in accounting records?
Sugandh Ltd. issued 60,000 shares of ₹ 10 each at a premium of ₹ 2 per share payable as ₹ 3 on application, ₹ 5(including premium) on allotment and the balance on first and final call. Applications were received for 92,000 shares. The Directors resolved to allot as
| (i) | Applicants of 40,000 shares | 30,000 shares, |
| (ii) | Applicants of 50,000 shares | 30,000 shares, |
| (iii) | Applicants of 2,000 shares | Nil. |
Mohan, who had applied for 800 shares in Category
(i) and Sohan, who was allotted 600 shares in Category
(ii) failed to pay the allotment money. Calculate amount received on allotment.
Answer in One Sentence only:
Where is the profit or loss on sale of asset is transferred?
Write the word/term/phrase which can substitute the following statement:
The expenditure incurred for purchase, installation charges, etc. of an asset.
State whether the following statement is True or False with reasons:
Balance of depreciation account is transferred to Profit & Loss A/c.
On Jan 01, 2016 Rao sold goods ₹ 10,000 to Reddy. Half of the payment was made immediately and for the remaining half Rao drew a bill of exchange upon Reddy payable after 30 days. Reddy accepted the bill and returned it to Rao. On the due date Rao presented the bill to Reddy and received the payment. Journalise the above transactions in the books Rao and prepare of Rao’s account in the books of Reddy.
What should be deducted from subscribed share capital while preparing notes to account in the balance sheet.
Ambrish Ltd offered 2,00,000 Equity Shares of ₹10 each, of these 1,98,000 shares were subscribed. The amount was payable as ₹3 on application, ₹4 an allotment and balance on first call. If a shareholder holding 3,000 shares has defaulted on first call, what is the amount of money received on first call?
What will be the journal entry for the money received on application for shares?
When any shareholder fails to pay the amount due on allotment or on any of the calls, such amount is known as ______
Some shareholders pay a part or the whole of the amount of the calls not yet made. The amount so received from the shareholders is known as ______?
In case of "over subscription" the director of the company has the power to deal the situation in which of the following manner?
What the director can do in the case of pro-rata allotment for the excess amount received is more than the amount due on allotment of shares?
Where number of shares applied for Subscription is less thah the number for which applications have been invited for subscription this situation is called?
Subscription of shares should not be less than ______% of the issued shares.
Right shares are the shares, which:
Share Allotment Account is a/an ______.
Under which of the following headings/sub-headings, Calls-in-advance will be presented in the Balance Sheet of a Company as per Schedule III Part I of the Companies Act, 2013?
Which statement is issued before the issue of shares?
When a company issues shares at a premium, amount of premium may be received by the company ______.
A company issued 1,000, 12% Debentures of ₹ 100 each at 10% premium. 12% stands for ______.
Premium on issue of shares can be used for:
Based on below information you are required to answer the following question:
Sangita Limited invited applications for issuing 60,000 shares of ₹ 10 each at par. The amount was payable as follows:
On Application ₹ 2 per share
On Allotment ₹ 3 per share
On First and Final Call ₹ 5 per share
Applications were received for 92,000 shares. Allotment was made on the following basis:
- To applicants for 40,000 shares - Full
- To applicants for 50,000 shares - 40%
- To applicants for 2,000 shares - Nil
₹ 1,08,000 was realised on account of allotment (excluding the amount carried from application money) and ₹ 2,50,000 on account of call.
The directors decided to forfeit shares of those applicants to whom full allotment was made and on which allotment money was overdue.
What amount is received at the time of first and final call?
The maximum capital beyond which a company is not allowed to raise funds, by the issue of shares is called ______.
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Rudra, Dev and Shiv were partners in a firm sharing profits in the ratio of 5 : 3 : 2. Their fixed capitals were ₹ 6,00,000, ₹ 4,00,000 and ₹ 2,00,000 respectively. Besides his capital Shiv had given a loan of ₹ 75,000 to the firm. Their partnership deed provided for the following:
During the year Rudra withdrew ₹ 50,000 at the end of each quarter; Dev withdrew ₹ 50,000 in the beginning of each half year and Shiv withdrew ₹ 70,000 at the end of each half year. The profit of the firm for the year ended 31-3-2022 before allowing interest on Shiv's loan was ₹ 7,06,750. |
What will the amount of interest on drawings of the partners?
