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INDIAN PARTNERSHIP ACT,1932
Corporate & Other Laws
answered on 16-May-25 19:47
TRANSFER OF PARTNERSHIP INTEREST WHEN SHARE OF PARTNERSHIP IS KEPT AS SECURITY WITH BANK 1.WILL BANK RECEIVE PROFIT IN THAT CASE ???? 2.DURING DISSOLUTION WILL BANK RECEIVE ASSET AND WILL THAT ASSET AMOUNT GET DEDUCTED FROM LOAN AMOUNT?? 3.AND WHEN BANK RECEIVES SHARE OF PROFIT WILL IT BE REDUCED FROM LOAN AMOUNT??
latest answer
1. Profit Entitlement: The bank does not receive profits directly unless there’s a specific agreement; profits remain with the partner. 2. On Dissolution: The bank can claim from the partner’s share in net assets, and that amount can be adjusted against the loan if the partner defaults. 3. Loan Adjustment: If the bank receives any profit or asset share, it can be used to reduce the outstanding loan.
Prathmesh Kharul
US CMA All
★ 6K+
2
508
RETIREMENT OF PARTNER
Accountancy
answered on 11-Dec-23 14:00
IS P&L ADJUSTMENT A/C AND REVALUATION A/C SAME??
latest answer
Use revaluation account for exams.
Prathmesh Kharul
US CMA All
★ 6K+
1
393
RETIREMENT OF PARTNER
Accountancy
answered on 11-Dec-23 14:01
B and C agreed, as between themselves, to continue the business, sharing profits in the ratio of 3:2 and decided to retain the fixtures on the books at the revised value, and to increase the provision for doubtful debts to 6%. PARTNER CAPITAL A/C------DR TO B CAPTIAL A/C TO C CAPITAL A/C IS THIS THE CORRECT ENTRY FOR THE ABOVE ADJUSTMENT??
latest answer
You need to route this through revaluation account.
Prathmesh Kharul
US CMA All
★ 6K+
1
405
Foreign company
Corporate & Other Laws
answered on 10-Dec-23 13:09
Is the 2nd and 3rd para are important to write ? As in book also it's not written in the main content .
latest answer
It carries less marks but if you can remember, then, please reproduce to score max.
Mehak K
CA Final
★ 3K+
3
340
TDS Payment
Direct Taxation
answered on 11-Dec-23 14:11
What to do with excess payment of TDS. For Example In Nov 23 TDS payable Rs. 10,000 but paid Rs. 15,000. Can I use the excess amount of Rs. 5,000 for Dec 23...?
latest answer
Yes. We can use the unconsumed challan.
Ravikumar Pandi
CA Inter
★ 2K+
4
355
Solve pls
Maths & Stats
answered on 09-Dec-23 09:45
. A stock pays annually an amount of Rs. 10 from 6th year onwards . What is the present value of perpetuity, if the rate of return is 20% (a) 20.1 (b) 19.1 (c) 21.1 (d) 22.1
latest answer
First Present value i.e. A÷i÷N= 10÷0.20 equal to 50 (pv) after that Put the formula A= p(1+i÷N)^t We have to find p Here A =50 ,i=0.20,t=5y Time is Five years because We have to find on the end of five year and starting of sixth year . Hope it will help you.
Vamsi Krishna Vk
CA Inter
★ 4K+
1
2K+
Rent free accommodation
Direct Taxation
answered on 08-Dec-23 14:00
In the lectures it’s as per census 2001, but in the study material provided by 1Fin it’s stated that with effect from 1st September 2023 - there is change in % mentioned. Will amendment video uploaded in this topic? Video Details Course: P3A - Income Tax (New) Module: Chp 4.1 - Salaries Section: Taxability of RFA for Non-Goverment Employee
latest answer
Yes
Soon to be CA
CA Inter
★ 4K+
3
392
Industrial training
Others
answered on 11-Dec-23 12:49
Can I join industrial training after finishing my 3years articleship? And also is it mandatory to complete both the group to do industrial training?
latest answer
Better work as employee in good firms.
Revathy N
CA Final
★ 9K+
3
326
Cash flow
Accountancy
answered on 11-Dec-23 14:21
Please help to find out cash flow from operating activities
latest answer
Got the answer Sir 😊. Thank you for your response.
Sumayya S B
CA Final
★ 7K+
2
346
Dec mtp
Accountancy
answered on 09-Dec-23 08:26
In this question how they calculated purchase
latest answer
3,20,000-5,150-7,000-1,650=3,06,200
Devi sri K
CA Foundation
★ 7K+
1
387