It is that part of a personal income that is left over after the payment of direct taxes. In the above case, ₹ 45,000 forms part of Mr. Shah’s Personal Disposable Income, as it is leftover income after payment of his tax.
Correct Answer - Entry in all Cases: Dr Sundry Assets A/c- ₹ 6,60,000 and Goodwill A/c - ₹ 20,000;
Cr . Sundry Liabilities A/c - ₹ 80,000 and star Ltd....
Correct Answer - (i) Dr. Sundry Assets A/c by ₹ 40,00,000, Cr. Sundry Liabilities A/c by ₹ 7,00,000; Strong Ltd .by ₹ 32,40,000 and Capital Reserve A/c by ₹ 60,000;...
Correct Answer - (i) Dr. Sundry Assets A/c by ₹ 9,80,000, Cr. Sundry Liabilities A/c by ₹ 40,000; HDR Ltd by ₹ 9,00,000 and Capital Reserve A/c by ₹ 40,000....
