Any profit or loss arising on account of realising book debts and discharging creditors will be borne

Question:

Any profit or loss arising on account of realising book debts and discharging creditors will be borne by:

(a). The purchasing company

(b). The vendor

(c). (a) and (b)

(d). None of these

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Corporate Accounting

ISBN: 9789353160739

1st Edition

Authors: Anita Raman, P. Radhika

See More Books

Question Posted: Aug 31, 2023 12:11 PM

See More Questions

Questions: 1. Calculate the average customer lifetime value for DishNetworks new customers. 2. Calculate the average customer lifetime value forDirecTVs new customers. 3. Which company generates more...
Which criteria apply when you are looking for material costs that merit special attention as part of your preliminary review of the proposal? Select the two alternatives that apply. Subassembly...
Angle between two planes is defined to be the angle between their normals which 0 0 < (see the satisfies figure). Consider two planes with equations 2y + z = 14 and 2x + z = 2. For these planes...
ECB Co. has 1.2 million shares outstanding selling at $24 per share. It plans to repurchase 97,000 shares at the market price. What will be its market capitalization after the repurchase? What will...
Wilbur owns a 25% interest in the Talking Horse Corporation, which is organized as an S corporation. His basis in the property is $15,000. For the year, Talking Horse reports an operating loss of...
A Question of EthicsPredatory Lending. Peter Suttons home was subject to two mortgages with payments of more than $1,400 per month, but his only source of income was $1,080 monthly from Social...
Length of pregnancies. The length of human pregnancies from conception to birth varies according to a distribution that is approximately Normal with mean 266 days and standard deviation 16 days. Use...
Ellis issues 6.5%, five-year bonds dated January 1, 2015, with a $250,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $255,333. The annual market rate is...
Calculating COGS and Inventory under LIFO and FIFO INCREASE ONE PURCHASE QUANTITY AND DECREASE ONE SALES UNIT QUANTITY AND WORK THIS PROBLEM AGAIN. You should clearly indicate what you increased and...
True and False. The purchasing company has to bear any profit or loss that arises in collecting debts and paying creditors.
AK Ltd. purchased the business of Anish Kanth & Brothers and decided to continue the same set of books. The company decided to make the following revaluations: (a). Buildings to be appreciated by...
For the following exercises, graph the given conic section. If it is a parabola, label the vertex, focus, and directrix. If it is an ellipse, label the vertices and foci. If it is a hyperbola, label...
Revenue and cash receipts journals; accounts receivable subsidiary and general ledgers Transactions related to revenue and cash receipts completed by Crowne Business Services Co. during the period...
Panguitch Company had sales for the year of $100,000. Expenses (except for income taxes) for the year totaled $80,000. Of this $80,000 in expenses, $10,000 is bad debt expense. The tax rules...
Assume that the composition of federal outlays and receipts shown in the figure remained the same in 2019. In the figure, the categories "Defense and homeland security" and "Non-defense...
1) A car's age is a _ variable. Quantitative O Categorical 2) A car's maker is a variable O Quantitative Categorical 3) A house's square footage is a _________variable O Quantitative O Categorical 4)...
The following table shows the distribution of clients by age limits. Use the grouped data formulas to calculate the variance and standard deviation of the ages. Rango de edad Cantidad de clientes...
Georgia Braxton, a widow, has a take-home pay of $600 a week. Her disability insurance coverage replaces 70 percent of her earnings after a four week waiting period. What amount would she receive in...
From 1970 to 1990, Sri Lanka's population grew by approximately 2.2 million persons every five years. The population in 1970 was 12.2 million people.What is the best formula for P, Sri Lanka's...
(a) What do you mean by liquidation of a company? (b) What are the different ways in which a company may be wound up?
Adarsh Udyog Ltd incorporated on 1st May, 2016, received the certificate to commence business on 31st May, 2016. It had acquired a running business from Gupta and Co with effect from 1st January,...
Rowlock Ltd. was incorporated on 1st October, 2016 to acquire Rowlocks mail order business, with effect from 1st June, 2016. The purchase consideration was agreed at ~ 35,000 to be satisfied by the...
Sociology
I am unsure how to answer question e as there are two variable changes. In each of the following, you are given two options with selected parameters. In each case, assume the risk-free rate is 6% and...
On January 1, Interworks paid a contractor to construct a new cell tower at a cost of $850,000. The tower had an estimated useful life of ten years and a salvage value of $100,000. Interworks...

Any profit or loss arising on account of realising book debts and discharging creditors will be borne

Question:

Step by Step Answer:

b ...View the full answer

Corporate Accounting

Students also viewed these Business questions