How do you treat Interest on Purchase Consideration and Salary Paid to Partners, while ascertaining Profit Prior
Question:
How do you treat Interest on Purchase Consideration and Salary Paid to Partners, while ascertaining Profit Prior to Incorporation?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (1 review)
When ascertaining Profit Prior to Incorporation which is the profit earned by a business before it i...View the full answer
Answered By
Krishnavendra Y
I am a self motivated financial professional knowledgeable in; preparation of financial reports, reconciling and managing accounts, maintaining cash flows, budgets, among other financial reports. I possess strong analytical skills with high attention to detail and accuracy. I am able to act quickly and effectively when dealing with challenging situations. I have the ability to form positive relationships with colleagues and I believe that team work is great key to performance. I always deliver quality, detailed, original (0% plagiarism), well-researched and critically analyzed papers.
5.00+
4+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
1. Hannah is applying for a life policy on her girlfriend Sarahs life. The policy is $500,000 and carries a large premium. Hannah is the main earner, so she is concerned about not being able to pay...
-
In Section 36.6 we saw that muons can reach the ground because of time dilation. But how do things appear in the muons reference frame, where the muons half-life is only 1.5 s? How can a muon travel...
-
When does a taxpayer realize a loss on a worthless security? What is the amount of realized loss? What rules govern the recognition of a loss on a worthless security? Explain.
-
The press release Luxury or Necessity? The Public Makes a U-Turn (Pew Research Center, April 23, 2009) summarizes results from a survey of a nationally representative sample of n = 1003 adult...
-
Suppose college students are given two options. With option A, the price a student pays for a class is always the equilibrium price. For example, if the equilibrium price to take Economics 101 is...
-
Suppose Sonics Inc. just started business this period. The firm purchased 400 units during the period at various prices as follows: The firm sold 250 units at $ 30 each on the following dates:...
-
We have defined a PyTorch network class DAN for you. You need to implement the forward pass for your deep averaging network. To start, first implement average that averages the words in a review and...
-
Z Ltd. was formed on 1 st May 2000 and it obtained the certificate of commencement of business on 1 st June 2000. It acquired a running business, with effect from 1 st January 2000. Books were closed...
-
CMS Ltd. was incorporated on 1 st July 1999 to take over the running business of Selvam, with effect from 1 st April 1999. The profit and loss account was prepared on 31 st March 2000. Bad debts...
-
Working individually or in groups, contact the HR manager of a local bank. Ask the HR manager how he or she is working as a strategic partner to manage human resources, given the banks strategic...
-
What is the justification for contribution?
-
True Or False Defendants benefit from Mary Carter and Gallagher agreements because they can recover some or even all of what they have agreed to pay the plaintiff and they can reduce the cost of...
-
Joint and several liability has been abolished in some states out of a concern that it is unfair to hold ____________ ____________ defendants fully liable when they were only marginally responsible...
-
True Or False (new) Contribution is often denied for intentional tortfeasors.
-
True Or False The contracting defendant to a Mary Carter agreement does not participate at trial and is no longer considered a party to the case.
-
Use @RISK to draw a binomial distribution that results from 50 trials with probability of success 0.3 on each trial, and use it to answer the following questions. a. What are the mean and standard...
-
Calculate Total Contribution Margin for the same items. Total Revenue Total Variable Costs Total Contribution Margin $50.00 a. $116.00 $329.70 b. $275.00 $14,796.00 $7,440.00 c. $40,931.25 d....
-
At the time of liquidation, debentureholders are paid off A. After the shareholders B. Before the preferential creditors C. Before the shareholders D. After the preferential creditors and shareholders
-
Debenture A. Can be forfeited for non-payment of calls money B. Cannot be forfeited for non-payment of calls money as per the provision of Section 71(12) of the Companies Act, 2013 C. Can be...
-
Debentureholders are: A. The owners of the company B. The creditors of the company C. The customers of the company D. The vendors of the company
-
1. List three common measures of central tendency or "center" and briefly explain each. 2. List two common measures of variation or "spread" and briefly explain each.
-
a) The Internet has given digital firms the opportunity to create new business models or reshape their current models through unique features of e-commerce. Analyse TWO (2) reasons why e-commerce is...
-
Assume the following is the Budget Equation for a consumer: 99 Vodka + 26 Rum = 6422 What would be the intercept of the budget line in the Rum axis ?
Study smarter with the SolutionInn App