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Admission of a ...

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  • Question 1
    1 / -0

    If the incoming partner is to bring in premium for goodwill in cash and also balance exist, in the goodwill Account, then this Goodwill Account is written off among the old partners in _________ .

  • Question 2
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    'Samta Limited invited applications for issuing $$6,750$$ equity shares of $$Rs 10$$ each. The amount was payable as follows :  On application - $$Rs 3$$ per share 
    On allotment - $$Rs 5$$ per share
    On first and final call - $$Rs 2$$ per share 
    The issue was fully subscribed. Subhash applied for $$250$$ shares and paid his entire share money with application. Moti applied for $$175$$ shares and paid allotment money also with application. The amount received with applications was :

  • Question 3
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    Partnership comes into existence through _______________.

  • Question 4
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    When the amount of goodwill is paid privately, the following entries are to be passed for this purpose:

  • Question 5
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    Which method is useful when the actual profit is less than normal profit?

  • Question 6
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    The formula of super profit is ____________.

  • Question 7
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    The excess of purchase consideration over net assets of the transferor company acquired by the transferee company should be recognized as ________ in purchase method.

  • Question 8
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    Which of the following are true or false?
    a) A retiring partner will be held liable for the debts incurred by the firm after his retirement.
    b) He must give public notice to that effect

  • Question 9
    1 / -0

    Goodwill means ___________.

  • Question 10
    1 / -0

    Liquidation expenses paid by the transferee company is debited to _________.

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