True or False. Workmens compensation fund can be transferred to capital redemption reserve A/c at the time

Question:

True or False. Workmen’s compensation fund can be transferred to capital redemption reserve A/c at the time of redemption of preference shares, if there is no liability for workmen for compensation.

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 04:47 AM

See More Questions

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
Amount can be transferred to capital redemption reserve from: (a). Capital reserve (b). Dividend equalization fund (c). Development rebate reserve (d). Securities premium A/c
You, CA, have been working for Plener and Partners, Chartered Accountants (P&P), a mid-size CA firm, for three years. You have been assigned a new project for a long-term client of your firm, Oxford...
machine element is made of an alloy with Yield strength of 200 Mpa and fracture strain is 0.08. A machine element is characterized by the normal stress components as shown in the figure. The Answer...
Gloria sells land that she held as an investment for $2,000 to the Lacy for Senate Campaign Committee. Gloria purchased the land twenty years ago for $2,000. The chairman of the Lacy for Senate...
In the past, 44% of those taking a public accounting qualifying exam have passed the exam on their first try. Lately, the availability of exam preparation books and tutoring sessions may have...
S. Hudson uses subsidiary ledgers and special journals in his accounting system. The accounts in the accounts payable subsidiary ledger for the most recent month are shown below: Required (a) Prepare...
Lewis Manufacturing Company produces a single product. The following data apply to the standard cost of materials and labor associated with making the product. Materials quantity per unit ...... 1...
why is there an OSI and TCP / IP model?
Y Ltd. wishes to redeem its redeemable preference shares of 2,00,000 at a premium of 20%. For this purpose, it has decided to make a fresh issue of 100 shares at 10% premium and utilize the profits...
Amount cannot be transferred to capital redemption reserve A/c from: (a). Profit & Loss A/c (b). Debenture Redemption Fund (c). Workmens Accident Fund (d). Capital portion of Profit on sale of fixed...
What is kaizen costing, and how does it differ from target costing?
The manager repeated again his warning that we must use strong passwords. Your Task . Revise the following sentences to avoid redundancies.
Zakat is payable only on growing capital. Growing capital is a. a fixed asset that can be expanded. b. the realised gains on fixed assets. c. the realised and unrealised gains on fixed assets. d. the...
Orange Furniture Inc. (Orange) imports pine furniture from factories around the world for sale to retailers in Canada. On October 31, 2004, Orange bought a bedroom furniture set from a supplier in...
What proportion of Canadian employment is in non-profit organizations?
Christopher Sanchez is Regional Manager at Digital Depot in New Orleans, Louisiana. He received an e-mail from Thomas Heffernan, a frustrated customer who is demanding a steep price match for all his...
A parent company paid $500,000 for a 100% interest in a subsidiary. At the end of the first year, the subsidiary reported net income of $40,000 and paid $5,000 in dividends. The price paid reflected...
The Smiths buy a house. They borrow 80 percent of the purchase price from the local ABC Savings and Loan. Before they make their first payment, ABC transfers the right to receive mortgage payments to...
The useful life of an asset is: A. Its service life B. Its physical life C. None of the above
Residual value is specifically A. Scrap value B. The estimated value of a fixed asset at the end of its economic life C. The estimated value of a fixed asset at the end of its physical life
Depreciable assets are assets which A. Have unlimited useful life, e.g., land B. Have a limited useful life, e.g., furniture C. Are expected to be used not for more than one year
DCDS company currently has earnings per share of $36. Based on a careful analysis of their capital investment projects, you conclude that the NPV of these projects in total is $75 per share. If the...
Discuss risks and financial factors associated with exchange and interest rates to assess how they inform Pfizer's financial management approaches. Provide resources to support your response.
2. Managing companies or the divisions, departments, and units within them must, of course, focus on good strategy execution and operational excellence. Our young and ambitious colleague, Rachel...

True or False. Workmens compensation fund can be transferred to capital redemption reserve A/c at the time

Question:

Step by Step Answer:

Corporate Accounting

Students also viewed these Business questions