When current ratio is 2 : 5 and the amount of current liability is Rs. 25,000, what is the amount of current assets ?
(A) 62,500
(B) 12,500
(C) 10,000
(D) None of these
1 Answers
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i. _______ clause contains the details of liability of the members. (a) Name (b) Liability (c) Object
i. (b) Liability ii. (c) Capital iii. (a) Articles of Association iv. (a) members v. (b) Prospectus vi. (b) Shelf vii. (a) Red Herring Prospectus
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Net Working Capital = Current Assets Minus - (A) Current Liabilities (B) Net Liabilities (C) Current Assets (D) Assets
Correct option is: (A) Current Liabilities
2 Answers 1 views
If debentures of Rs. 4,50,000 are issued to the sellers for the consideration of net assets of Rs. 5,00,000 balance Rs. 50,000
Correct option is: (A) Profit & Loss statement
2 Answers 1 views
Bright Ltd. Took over the assets of ₹ 6,60,000 and liabilities of ₹ 80,000 of star Ltd. For an agreed purchase consideration of ₹ 6,00,000 payab
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....
2 Answers 1 views
Star Ltd. Took over the assets of ₹ 6,60,000 and liabilities of ₹ 80,000 of Moon Ltd. For ₹ 6,00,000 . Give necessary Journal entries in the boo
Correct Answer - Entry in both Cases: De. Sundry Assets A/c - ₹ 6,60,000 and Goodwill A/c - ₹ 20,000; Cr. Sundry Liabilities A/c ₹ 80,000 and Moon Ltd. -...
2 Answers 1 views
Exe Ltd. Purchased assets of the books value ₹ 4,00,000 and took over the liabilities of ₹ 50,000 from Mohan Bros. It was agreed thet the purchaas
Correct Answer - Goodwill ₹ 30,000; Case (a) 3,800 Debentures of ₹ 100 each; Cash (b) 4,222 Debentures of ₹ 100 each and paid cash ₹ 20; Case (c) 3,454...
2 Answers 1 views
Green Ltd. Purchased the assets of Strong Ltd. For ₹ 40,00,000 and took over liabilities of ₹ 7,00,000 at an agreed value of ₹ 32,40,000. Paymen
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;...
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Wellbeing Ltd. Took over assets of ₹ 9,80,000 and liabilities of ₹ 40,000 of HDR Ltd. At an agreed value of ₹ 9,00,000. Wellbeing Ltd. Paid to H
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....
2 Answers 1 views
Rajan Ltd. purchased assets from Geeta & Co. for Rs. 5,00,000 . A sum of Rs. 1,00,000 was paid by means of a bank draft and for the balance due Rajan
Correct Answer - 32,000 Equity Shares to be issued.
2 Answers 1 views
A ____________ liability is an uncertain liability. (a) Long term (b) Contingent (c) Current (d) Fixed
Correct option is (b) Contingent
2 Answers 1 views