Write short notes on: (a) Profit prior to incorporation; (b) Loss prior to incorporation; (c) Certificate of
Question:
Write short notes on:
(a) Profit prior to incorporation;
(b) Loss prior to incorporation;
(c) Certificate of incorporation;
(d) Certificate of commencement of business.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 60% (5 reviews)
a Profit prior to incorporation is the profit earned by a business before it is incorporated This pr...View the full answer
Answered By
Chandrasekhar Karri
I have tutored students in accounting at the high school and college levels. I have developed strong teaching methods, which allow me to effectively explain complex accounting concepts to students. Additionally, I am committed to helping students reach their academic goals and providing them with the necessary tools to succeed.
0.00
0 Reviews
10+ Question Solved
Related Book For
Corporate Accounting As Per The Companies Act 2013 Including Rules 2014 And 2015
ISBN: 9789352605569
2nd Edition
Authors: M Hanif, A Mukherjee
Question Posted:
Students also viewed these Business questions
-
Carol Harris, Ph.D, CPA, is a single taxpayer and she lives at 674 Yankee Street, Durham, NC 27409. Her Social Security number is 793-52-4335. Carol is an Associate Professor of Accounting at a local...
-
Emily Jackson (Social Security number 765-12-4326) and James Stewart (Social Security number 466-74-9932) are partners in a partnership that owns and operates a barber shop. The partnership's first...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
For each of the following tests, identify two different samples of people who would have the expertise to serve as subject matter experts (SMEs) for providing judgments regarding the content validity...
-
ABC has two financing alternatives. It can issue 20-year public debt at par with a 7% coupon in the domestic market. It can also issue 6% Eurobonds. There are NO issuance costs. Calculate APY for...
-
Why do you believe that auditors must assess the risk of an organization being able to continue as a going concern, given that auditors perform no other procedures regarding future performance of an...
-
2 What competencies best describe (a) your college or university and (b) your favorite restaurant?
-
Absorption costing and production volume variance -- alternative capacity bases Earths Best Light (EBL), a producer of energy-efficient light bulbs, expects that demand will increase markedly over...
-
Palm Works Inc. has a beginning balance in the Work in Process Inventory account of $20,000. Current manufacturing costs for the period are $325,000. The ending balance in the Work in Process...
-
Loss prior to incorporation is A. Credited to Capital Reserve Account B. Debited to Goodwill Account C. Credited to Goodwill Account
-
Profit earned after incorporation but before obtaining certificate of commencement of business is generally treated as : A. Revenue profit B. Capital profit C. Extraordinary profit
-
Is Starbucks unique in being able to provide a high level of benefits to its employees? 585
-
The current rate of interest on S-T Treasury Bills = 10%, intermediate term Gov. Bonds = 11%, Lt- Gov. Bonds = 12%, AA rate Corp. Bonds = 13.5% and the rate of inflation is 5%. Holding-period returns...
-
Prepare Income Statement(absorption costing) for the second, third and fourth month. SALES (SP X unit sold) INCOME STATEMENT FORMAT (ABSORPTION COSTING) XXX Less: Cost of Goodsold VARIABLE COST (VC...
-
The following shows the distribution of final exam scores in a large introductory psychology class. The proportion under the curve is given for two segments (short answers-no calculations required)....
-
How much overhead was included in the cost of Job #461 at the beginning of January? * (1 Point). BREAD Co. uses a job order costing system. At the beginning of January, the company had 2 jobs in...
-
3. (3pt.) A state of a physical system is just a description of the system at an instant in time in terms of its properties. In classical mechanics, states are represented by points (in phase space)....
-
A standard baseball has a circumference of approximately 23 cm. If a baseball had the same mass per unit volume (see Tables in Section 1-5) as a neutron or a proton, about what would its mass be?
-
Let (X. A. p) be a measure space. Show that for any A,B A, we have the equality: (AUB)+(An B) = (A) + (B).
-
True and False. The proportion of liabilities and the capital affects the value of shares.
-
Goodwill is equal to ____________ net tangible assets.
-
The profits of Swami Vivekananda Ltd. for the last five years are as follows: Compute the value of goodwill of Swami Vivekananda Ltd. on the basis of 4 years of purchase of weighted average profit...
-
Minden Company introduced a new product last year for which it is trying to find an optimal selling price. Marketing studies suggest that the company can increase sales by 5,000 units for each $2...
-
Prepare the adjusting journal entries and Post the adjusting journal entries to the T-accounts and adjust the trial balance. Dresser paid the interest due on the Bonds Payable on January 1. Dresser...
-
Venneman Company produces a product that requires 7 standard pounds per unit. The standard price is $11.50 per pound. If 3,900 units required 28,400 pounds, which were purchased at $10.92 per pound,...
Study smarter with the SolutionInn App