All Matches

Solution Library

Expert Answer

Textbooks

Search Textbook questions, tutors and Books

Oops, something went wrong!

Change your search query and then try again

Result Not Found

Books FREE
Tutors
Study Help
Hire a Tutor
AI Study Help New

Search
Sign In
Register

study help
business
corporate accounting

Questions and Answers of Corporate Accounting

At the time of consolidation, profit on revaluation of fixed assets of the subsidiary company is treated asA. Revenue profit;B. Capital profitC. None of the above.
How do you evaluate ‘minority interest’ ? Is it a liability of the group ?
Dividend paid by the subsidiary company out of post-acquisition profit is credited toA. Investment account of the holding company;B. Profit and loss account of the holding companyC. Capital reserve
H Ltd. acquired 80% of both classes of shares of S Ltd. on 1.1.2015 at a total cost cost of ₹ 1,00,000. The Balance Sheets of the two companies as on 31.12.2015 are given below: Balance Sheets of H
P Ltd. acquired 6,000 Equity Shares of ₹ 10 each in S Ltd. on December 31, 2015. The summarised Balance Sheets of P Ltd. and S Ltd. as on that date were: I. EQUITY AND LIABILITIES (1) Shareholders'
In a winding up which commenced on 15th September, 2016 certain creditors could not receive payments out of the realisation of assets and out of contribution from ‘A’ list of contributories.
Bad Luck Limited went into voluntary liquidation and the proceedings commenced on 2 July, 2016. Certain creditors could not receive payment out of the realisation of assets and out of the
When is winding up deemed to commence in the case of voluntary winding up and compulsory winding up?
What do you mean by preferential creditors ? Outline the order of preferential payments when a company is under liquidation?
State the conditions for payment of underwriting commission as per the Companies (Prospectus and Allotment of Securities) Rules, 2014.
What do you mean by Members’ voluntary winding up? How does it differ from Creditors’ voluntary winding up?
What do you understand by Liquidator’s Statement of Account? When it is prepared and how?
A.G. Ltd. went into liquidation with the following liabilities :(a) Secured creditors ₹ 20,000 (securities realised ₹ 25,000).(b) Preferential creditors ₹ 600.(c) Unrealised creditors ₹
The Breakfast Foods Ltd. went into voluntary liquidation on 31st December, 2016. The balances in its books on that date were: Liabilities Share Capital: Authorised and Subscribed : 5,000, 6%
The capital of Data Company Limited was as follows :(1) 4,000 equity shares of ₹ 100 each fully paid;(2) 3,000 equity shares of ₹ 100 each, ₹ 80 per share paid-up;(3) 1,000 preference shares of
Employee Stock Option can be offered by passing :A. A special resolution in the general meetingB. An ordinary resolution in the general meetingC. A resolution in the board meetingD. No resolution in
Value of option is equal to :A. Number of option exercised × (market price -- exercise price)B. Number of option exercised × (market price -- fair price)C. Number of option granted × (market price
‘Employee Stock Options Outstanding’ will appear in theA. Balance Sheet as a negative item as a part of networth or shareholders’ equityB. Balance Sheet as part of Reserve and SurplusC. Profit
An employee who is a promoter or belongs to a promoter group shallA. Be eligible to participate in the ‘Employee Stock Purchase Scheme’.B. Not be eligible to participate in the ‘Employee Stock
The buy back of equity shares in any financial year should not exceedA. 20% of the total paid-up equity share capital in that financial yearB. 25% of the total paid-up equity share capital in that
The special resolution will not be required when the buy back is not exceedingA. 20% of total equity share capital plus free reserve of the companyB. 15% of total equity share capital plus free
Post buy back debt-equity ratio should not exceedA. 1 : 1B. 1 : 2C. 2 : 1D. 3 : 2
Every buy back shall be completed within a period ofA. 6 months from the date of passing of the special resolutionB. 3 months from the date of passing of the special resolutionC. 1 year from the date
Shares bought back shall be extinguished and physically destroyed withinA. 10 days from the last date of completion of buy backB. 5 days from the last date of completion of buy backC. 15 days from
The offer for buy back shall remain open for a period ofA. Not less than 10 days and not exceeding 20 days from the date of despatch of the letter of offerB. Not less than 15 days and not exceeding
SEBI (Buy back of Securities) Regulation, 1998 is applicable toA. Private limited companies onlyB. Unlisted public limited companies onlyC. Both private limited and public limited companiesD. Only
Rule 17 of the Companies (Share Capital and Debentures) Rules, 2014 is applicable toA. Only private limited companiesB. Only unlisted public limited companiesC. Only listed companiesD. All companies
Where a company purchases its own shares out of free reserve or securities premium, a sum should be transferred to Capital Redemption Reserve which should beA. Equal to the amount paid to the
A company after the completion of a buy back of its sharesA. Can not issue same kind of shares within one yearB. Can not issue same kind of shares within 6 monthsC. Can issue same kind of shares
On 1st January, 2013, A Ltd. acquired 8,000 shares of ₹ 10 each of B Ltd. at ₹ 90,000. The respective Balance Sheets as on 31st December, 2015 are given below: I. EQUITY AND LIABILITIES (1)
The payment of commission to underwriter(s) is to be authorised byA. The board of directorsB. The articles of associationC. The memorandum of associationD. Ministry of Corporate Affairs
What do you understand by underwriting?
A merchant banker can act as a underwriter provided he holds a certificate granted byA. Government of IndiaB. Company Law BoardC. SEBID. Registrar of Companies
State the restrictions and conditions placed under Companies Act, 2013 for appointment of underwriters.
In respect of every underwritten issue, the merchant banker(s) shall undertake a minimum obligation ofA. 5% of the total underwriting commitment or ₹ 35 lacs whichever is lessB. 10% of the total
Write a short note on: Firm Underwriting and Partial Underwriting along with Firm Underwriting.
As per the provision of the Companies Act, 2013, in case of shares, the commission paid or agreed to be paid does not exceedA. 2% of the issue priceB. 2.5% of face valueC. 5% of face valueD. 5% of
What do you understand by "firm" underwriting ? Pass the accounting entries relating to firm underwriting in thebooks:(i) The company;(ii) The underwriter.
As per the provision of the Companies Act, 2013, in case of debentures, the commission paid or agreed to be paid does not exceedA. 2% of the face valueB. 2.5% of the issue priceC. 5% of the issue
Explain the different methods of computing profit prior to incorporation.
Profit prior to incorporation isA. Debited to Goodwill AccountB. Credited to General Reserve AccountC. Credited to Capital Reserve Account
State the accounting treatment of pre-incorporation profit / loss.
Profit earned before incorporation is a/anA. Extra ordinary profitB. Revenue profitC. Capital profit
Pawan Ltd was incorporated on 1st March, 2017 and received its certificate of commencement of business on 1st April, 2017. The company bought the business of Pramod Ltd with effect from 1st November,
State the accounting treatment of post-incorporation profit / loss.
A company was incorporated on 1st May, 2016 to take over a business from the preceding 1st January. The accounts were made upto 31st December, 2016 as usual and the Trading and Profit and Loss
Profit earned after incorporation but before obtaining certificate of commencement of business is generally treated as :A. Revenue profitB. Capital profitC. Extraordinary profit
Write short notes on:(a) Profit prior to incorporation;(b) Loss prior to incorporation;(c) Certificate of incorporation;(d) Certificate of commencement of business.
Loss prior to incorporation isA. Credited to Capital Reserve AccountB. Debited to Goodwill AccountC. Credited to Goodwill Account
After-sales service cost is allocatedA. On the basis of timeB. On the basis of salesC. On actual basis
X and Y who were working as partners formed a limited company in the name of XY(P) Ltd, on 1st June, 2016 to take over their existing business, with the consideration being a sum of ₹ 4,80,000 and
Green Ltd. was established on 1st August, 2013 and received the Certificate of Commencement of business on 1st November, 2013. The company bought the business of Purple & Co. with effect from 1st
What is Goodwill ? What are the distinguishing features of Goodwill?
Goodwill is the outcome of an impression created in the mind of eachA. CustomerB. CreditorC. None of these
The net profit of a business, after providing for taxation, for the past five years are : ₹80,000; ₹85,000; ₹92,000; ₹1,05,000 and ₹1,18,000. The capital employed in the business is
What are the important features of ‘purchased’ and ‘non-purchased’ Goodwill?
Dog goodwill isA. ValuableB. less valuableC. None of these
State the important factors to be taken into consideration in valuing Goodwill?
Price paid for goodwill depends upon the purchaer’s expectation of futureA. GrowthB. ProfitsC. None of these
State the methods of accounting for Goodwill.
The figure computed as goodwillA. Is an exact oneB. Cannot be an exact oneC. None of these.
What is super profit ? What are the steps to be followed for calculating super profit for the valuation of Goodwill?
The net profit of a company after providing for taxation for the past five years are :₹20,000; ₹25,000; ~ 15,000; ₹35,000 and ₹40,000. The net tangible assets in the business is ₹2,00,000
Goodwill may be valued on the basis ofA. Actual profitsB. Super profitsC. None of these
What is the distinction between "Capitalisation of Super Profit Method" and "Annuity Method" for valuing Goodwill?
What are the important points to be taken into consideration in determining the profits upon the basis of which Goodwill is to be valued?
What is the need for valuation of shares ? State the factors affecting valuation of shares.
State the two widely applied methods for the valuation of shares.
The Balance Sheet of Star Co. Ltd. is as follows:You are asked to value the goodwill of the company on the basis of 5 years’ purchase of super profits, for which purpose, the following information
What is the difference between "Asset Backing Method" and "Yield Valuation Method" for valuing the shares.
Below is given the Balance Sheet of B Co Ltd. as on 1.4.2016 : I. EQUITY AND LIABILITIES (1) Shareholders' Funds: (a) Share Capital -30,000 Equity Shares of * 10 each fully paid (b) Reserves and
The abstract of the Balance Sheet of the AXE Ltd as at 31st March, 2016 are as follows : Liasbilities Equity share capital (100 each). 12% Preference share capital (* 100 each) 13%
For calculating purchase consideration as per AS----14,A. Only payment to equity shareholders are to be taken into considerationB. Only payment to shareholders are to be taken into considerationC.
How purchase consideration is calculated according to AS----14 ?
Under pooling of interests method, all costs associated with the amalgamation areA. CapitalisedB. Expended as incurredC. None of the above.
Distinguish between pooling of interests method and purchase method.
What are the limitations of pooling of interests method ?
The following is the Balance Sheet of B Company Ltd. as on 31st March, 2016:All the assets were independently valued at ₹13,80,000.The company earned net profits for the last five years as follows
The following is the summarised Balance Sheet of Electronics Products Ltd. as on 31st December, 2015:Net profit (before taxation) for the last three years were ₹1,38,000; ₹1,83,000; and
The following is the Balance Sheet of X Co. Ltd. as on 31.12.2015: I. EQUITY AND LIABILITIES (1) Shareholders' Funds: (a) Share Capital (b) Reserves and Surplus -- General Reserve Profit and Loss
A Ltd. is absorbed by B Ltd., the consideration being the takeover of liabilities, the payment of cost of absorption as part of purchase consideration not exceeding ₹10,000; the payment of the
Amalgamation Adjustment Account is used for recordingA. Capital reserve in the books of the transferee companyB. General reserve in the books of the transferee companyC. Statutory reserve in the
What do you mean by amalgamation ? What are the different types of amalgamation ?
Investment Allowance Reserve is aA. Capital reserveB. Statutory reserveC. None of A or B.
What are the different conditions which must be satisfied for treating an amalgamation in the nature of merger?
What is convertible debenture ? What are the advantages of issuing convertible debentures ?
On 1st January 2016, Debenture Account showed a balance of ₹1,50,000 in the books of X Ltd. A sinking fund has been created to redeem the debentures which the trustees are empowered to utilise in
X Ltd. had 1,000, 12% Debentures of ₹100 each outstanding on 1.1.2016. There is a Sinking Fund amounting to ₹40,000 represented by 9% Bombay Port Trust Bonds, of the face value of ₹50,000.
Modern Investors Ltd. issued on January 1, 2015, 20,000 5% debentures of ₹100 each redeemable at the option of the company after the second year at ₹104 upon given two months notice to the
Prospectus Ltd. issued ₹10,00,000, 6% Debentures stock at par on 1.1.2007. Interest was payable on June 30 and December 31, in each year. Under the terms of the Debenture Trust the owned stock is
A Ltd. has issued 2,000, 6% debentures of ₹100 each on 1st January, 2007. Interest was payable half-yearly on 30th June and 31st December each year. They are repayable at par on 31st December, 2014
X Limited had 4,800, 12% Convertible Debentures of ₹100 each. On 1.4.2016 the company accounting to the power of articles, made a notice for getting one of the following options to the
Calculate the managerial remuneration from the following particulars of Zen Ltd. the company has only one Managing Director. Net Profit Net Profit is calculated after considering the
The total managerial remuneration payable by a public company to its directors and manager in respect of any financial year shall not exceedA. 10%B. 11%C. 9%.
What are the legal requirements regarding the preparation of Company Final Accounts?
The following particulars are extracted from the Statement of Profit and Loss of S.S. Ltd. for the year ended 31st March, 2016: S.No. (i) (ii) (vii) (viii) Gross Profit Profit on Sale of Machinery
Corporate Dividend Tax is payable if the dividend paid out of:A. Current profit onlyB. Accumulated profit onlyC. Current profit or accumulated profit.
Explain how the net profits of company are calculated for the purpose of computing remuneration to directors, managers, etc.
Corporate Dividend Tax will be treated as:A. A charge against profitB. An appropriation of profitC. None of the above.
Following is the Profit and Loss Account of Azad Ltd. for the year ended 31st March, 2017:Additional information :Original cost of the Machinery sold was ~ 40,000. Depreciation on fixed assets as per

Showing 1300 - 1400 of 1509

First
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16

Services

Sitemap
Fun
Definitions
Become Tutor
Study Help Categories
Recent Questions
Expert Questions

Company Info

Security
Copyrights
Privacy Policy
Terms & Conditions
SolutionInn Fee
Scholarship

Get In Touch

About Us
Contact Us
Career
Jobs
FAQ
Campus Ambassador

Secure Payment

Download Our App

© 2024 SolutionInn. All Rights Reserved