When the purchasing company maintains the same set of books, then the amount realised from the proceeds

Question:

When the purchasing company maintains the same set of books, then the amount realised from the proceeds of assets taken over by the partners will be distributed in the ratio of:

(a). Profit-sharing

(b). Capitals

(c). 1:1

(d). Final claim

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

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...
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...
Ali, Broc and Cheema have been in partnership trading as Abche They share profits and losses in the ratio 3:2:1. Gavin and Hanuko have been in partnership trading as Gavu. They share profits and...
You are in the market for a new car and have narrowed your search down to two types: Car X costs $36,300, will last for four years, and will be worth $3,630 at the end of its useful life. It will...
Evita sells 2 pieces of land during the current year. She had used the first piece as a parking lot for her pet store. (She owns the store as a sole proprietor.) The land cost Evita $45,000, and she...
a. If Maximus Company has excess machine capacity and can add more labour as needed (i.e. neither machine capacity nor labour is a constraint), which product is the most attractive to produce?...
A wire $0.70 \mathrm{~m}$ long carries a current of $1.4 \mathrm{~A}$. The wire is at an angle of $53^{\circ}$ to a uniform external magnetic field. If the magnitude of the force the field...
The following information is available for Lock- Safe Company, which produces special- order security products and uses a job order cost accounting system. Compute the following amounts for the month...
QUESTION ONE a) Distinguish between sale and agreement to sell b) Explain the rights of unpaid seller against the goods c) Explain the nature of the contract of hire purchase QUESTION TWO (5 marks)...
Swami Ltd. was formed with an authorised capital of 20,00,000, divided into equity shares of 10 each, to acquired the business of P&M, whose balance sheet on the date of acquisition was as follows:...
When the same set of books is continued, a separate account for debtors should be opened under the ____________ A/c.
What factors can shift the supply of loanable funds curve?
Enhance the ButtonViewer program in Section 10.7.1 so that it prints a message Iwasclicked n times! whenever the button is clicked. The value n should be incremented with each click.
Consider a method: Describe the side effects of the read method. Which of them are not recommended, according to Section 8.2.4? Which redesign eliminates the unwanted side effect? What is the effect...
Which of these conditions returns true? Check the Java documentation for the inheritance patterns. Recall that System.out is an object of the PrintStream class. a. System.out instanceof PrintStream...
In Worked Example 10.1, add a default method: that yields an array of the first n values of the sequence. Data from worked example 10.1. default int[] values(int n)
Write a program that draws two solid squares: one in pink and one in purple. Use a standard color for one of them and a custom color for the other. Provide a class TwoSquareViewer and a class...
What document is necessary to form a corporation?
San Carlos Bank and Trust Company uses a credit-scoring system to evaluate most consumer loans that amount to more than $2,500. The key factors used in its scoring system are found at the conclusion...
Shares bought back shall be extinguished and physically destroyed within A. 10 days from the last date of completion of buy back B. 5 days from the last date of completion of buy back C. 15 days from...
Every buy back shall be completed within a period of A. 6 months from the date of passing of the special resolution B. 3 months from the date of passing of the special resolution C. 1 year from the...
Post buy back debt-equity ratio should not exceed A. 1 : 1 B. 1 : 2 C. 2 : 1 D. 3 : 2
Rocky is considering a new job that pays $12 per hour for a company subject to the Fair Labor Standards Act. How much can he expect to make for the year if he were to work an average of 42 hours per...
Aspen is a salaried nonexempt employee who earns $47,500 per year. During a biweekly pay period, Aspen worked 78 hours. The company's standard workweek is 35 hours. What is Aspen's gross pay for the...
Smith Enterprises sells a product for $25. Unit variable cost is $10 and unit fixed cost is $5. Net income increases by how much if one more unit is sold?

When the purchasing company maintains the same set of books, then the amount realised from the proceeds

Question:

Step by Step Answer:

Corporate Accounting

Students also viewed these Business questions