On amalgamation, if the dissolution expenses are paid as well as borne by the purchasing company

Related MCQs

• On amalgamation, Share issue Expenses A/c appearing on Assets side of the balance sheet of the vendor company
• From the following details calculate the net profit for the year ending 31.03.2013 Opening Stock ` 1,50,000; Purchase ` 2,50,000; Manufacturing Expenses ` 80,000; Selling Expenses ` 20,000; Administration Expenses ` 10,000; Financial Charges ` 5,000; Slaes ` 5,55,000 which includes damaged goods sold for ` 5,000 against the cost price of ` 12,000. Gross profit margin on normal sales is 20% on the sales
• When a complete set of books are maintained for the joint venture and in case where an amount is spent on account of expenses or for purchasing goods for the venture, the entry would be
• On Amalgamation, Profit & Loss A/c (Dr.) balance of the vendor company is closed by___________
• On Amalgamation, Profit & Loss A/c (Dr.) balance of the vendor company is closed by___________
• Amalgamation adjustment reserve is opened in the books of transferee company to incorporate
• Loss or profit on realisation a/c is transferred by the transferor company, under amalgamation to
• Expenses of the following nature are treated as a Revenue expenses except —
• X Ltd., purchased goods for ` 5 lakh and sold 9/10th of the value of goods for ` 6 lakh. Net expenses during the year were ` 25, 000. The company reported its net profit as ` 75,000. Which of the following concept is violated by the company?
• Expenses which have become due during the accounting period for which the final accounts have been prepared but have not yet been paid is called