Profit prior to incorporation mcq
WebPrepare a statement showing Profit Prior to Incorporation Answer: Net Profit: Pre-incorporation Rs 7,800; Post incorporation Rs, 3. A Ltd. was incorporated on 1st May 2001 to take over the business of Y Ltd. as a going concern with effect from 1st January 2005. The total sales for the year ending 31.12 amounted to Rs,00,000 out of which Rs, WebFeb 24, 2024 · Balance of profits & loss account 2. Capital Reserve 3. Dividend Equalization Fund 4. Development Rebate Reserve 5. Profit Prior to Incorporation Select the correct answer from the options given below (A) 1, 3, and 5 only (B) 2 and 4 only (C) 1 and 3 only (D) 1, 2, 3, and 5 only Answer: (C) 1 and 3 only Question 12. Bonus issue can be made on
Profit prior to incorporation mcq
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WebMar 9, 2024 · Gross profit prior to incorporation = 120,000 x 11/48 = $27,500 Gross profit after incorporation = 120,000 x 37/48 = $92,500 Question 2 A company was incorporated … WebMCQ on Profit Prior Incorporation You are signed in to this test from another device. If possible, you should exit the test on the other device before continuing. If you believe this …
WebAnswer: Net profit: Prior-Incorporation Rs,22,000; Post-Incorporation Rs,95, 11. REFERENCE BOOKS 1. Gupta R. and Radhaswamy M., Corporate Accounting, Sultan Chand & Sons, … WebIn accounting, profit prior to incorporation is treated as . Question In accounting, profit prior to incorporation is treated as _________. A Revenue Reserve B Secret Reserve C Capital Reserve D General Reserve Medium Solution Verified by Toppr Correct option is C)
WebJul 22, 2024 · Free PDF Download of CBSE Accountancy Multiple Choice Questions for Class 12 with Answers Chapter 7 Issue of Shares. Accountancy MCQs for Class 12 Chapter Wise with Answers PDF Download was Prepared Based on Latest Exam Pattern. Students can solve NCERT Class 12 Accountancy Issue of Shares MCQs Pdf with Answers to know … WebThe profit earned prior to incorporation i.e., 1.1.2004 to 31.3.2004 is known as PRE-INCORPORATION PROFIT, which cannot be taken as revenue profit, but is CAPITAL PROFIT. Such profit is to be transferred to CAPITAL RESERVE or may be used in writing down capital loss. When, there arises a loss in the pre-incorporation period, the loss should be ...
WebSuch profits are known as profits prior to incorporation. It should be remembered that a public company cannot commence business till it receives the certificate of …
WebApr 18, 2024 · MCQ's of Profit Prior to Incorporation Sem IV Mumbai University - YouTube 0:00 / 11:03 MCQ's of Profit Prior to Incorporation Sem IV Mumbai University 1,528 views Apr 18, … goodna median house priceWebProfit prior to incorporation treated as what? Solution (By Examveda Team) It is a Capital Profit and it can not be available for distribution of dividend Join The Discussion * Related User Ask Questions Which of the following is not a primary function of a Bank? A. Granting Loans B. Collecting Cheques/Drafts customers chester bar and grillWebMar 11, 2024 · Corporate Accounting (S.Y. B. Com) PROFIT PRIOR TO INCORPORATION (M.C.Q.) Dr. Kishor Jagtap Academic Excellence 22K views 2 years ago Valuation of shares by Yield Basis Method on Dividend... good name for a badgerWebAug 6, 2013 · What Is Profit Prior To Incorporation • "Profit prior to incorporation" is the profit earned or loss suffered during the period before incorporation. It is a capital profit and is … good name calling insultsgood name brand pursesWebMar 5, 2024 · profit / loss prior to incorporation 1) ABC ltd was incorporated on 1st march, 2024 and received its certificate of commencement of business on 1st April, 2024. the … chester bar antrim roadWebThe company earns a net profit of 24,000 with a capital of1,20,000. The NRR is 10%. Under capitalisation of super profit, goodwill will be _____. If amalgamation is in the ....., the General Reserve or Profit and Loss A/c balance will not be shown in the balance sheet. Loss Prior to incorporation is treated as ..... chester barbecue groton ct