. …….of profit is transferred to statutory reserves.

Related MCQs

• A B C are three partners sharing profit and loss in the ration of 2:2:1, B recently obtained MBA degree from Oxford University, accordingly the partner decided to give him a guaranteed profit of ` 60,000. Find the share of profit of B if the firm made a net profit of ` 1,25,000 during 2012-13
• If Average Profit of a certain firm for last five years is Rs5,00,000 , Normal profit is Rs 3,50,000/-. What would be the Value of Goodwill at 3years purchase of super profit
• P and Q are partners sharing profit and loss in the proportion 2:1 in the Joint Venture. P keeps accounts of joint venture. Q gave Rs. 5,000 to P for joint venture business. P prepared accounts and showed profit of Rs. 2,250. P settled Q’s account. In the books of Q, Rs. _______ profit is credited.
• Equity Shareholders giving up their claim to the reserves & accumulated profit amounts to______________
• When the proposed dividend exceeds 20% of the paid up capital, percentage of profit to be transferred to reserve is
• The profit on reissue of forfeited shares is transferred to ………
• When own debentures are cancelled, any profit on cancellation is transferred to ……..
• The profit on reissue of forfeited shares is transferred to
• Net profit / loss is transferred to the ______ account
• Profit and loss on Depreciation Investment Fund A/c is transferred to —