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what is difference between company and firm
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Both are formed by association / group of persons.. But in
case of firm, registration of not necessary whereas company
must be registered / incorporated under Companies Act.
Firm has so many advantages than company in the following
clauses - Capital Clause, Filing forms, Auditing,
directorships.
| Is This Answer Correct ? | 7 Yes | 2 No |
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rents part of its building for a monthly fee of $1,250. The rent for the month just past has not been received.
journal entry for goodwill and capital bought by a new partner?
Can pls tell me difference between simple cash book & accrued cash book?
What is the order of priority of the following. 1.Trial Balance,2.Sales Ledger,3.Journal Entry,4.General Ledger,5.Balance Sheet,6.Profit and Loss Account,7.Cash Flow and fund flows.
Why discount on issue of debenture is shown as ficitious assest in Balance sheet ..? same why preliminary expenses ia also shown as ficitious assets in Balance sheet :?
3 Answers Accenture, Cap Gemini,
How calculate holding company account?
If A Company pays amount thru bank for a supplier deducting tds on behalf of B company. Accounting entries to be made in company A and B
what is a grn in terms of accounting ? what is a grnthroughpo in terms of purchase order? what is a direct grn?
what is share slipt and its typea?
2 Answers Bank Of America, Capital IQ,
DHPL is a small sized firm manufacturing hand tools. It manufacturing plan is situated in haryana. The company's sales in the year ending on 31st march 2007 were Rs.1000 million(Rs.100 crore) on an asset base of Rs.650 million. The net profit of the company was Rs.76 million. The management of the company wants to improve profitability further. The required rate of the company is 14 percent.The company is currently considering an investment proposal. One is to expand its manufacturing capacity. The estimated cost of the new equipment is Rs.250 million. It is expected to have an economic life of 10 years. The accountant forecasts that net cash inflows would be Rs.45 million per annum for the first three years, Rs.68 million per annum from year four to year eight and for the remaining two years Rs.30 million per annum. The plant can be sold for Rs.200 million: (a) The company can borrow funds from a nationalized bank at the interest rate of 14 percent for 10 years. It will be required to pay equal annum installment of interest and repayment of principal. (b) A financial institution has offered to lend money to DHPL at 13.5 per annum but it needs to pay equated quarterly installment of interest and repayment of principal. Questions: (1) Should the company expand its capacity? show the computation of NPV. (2) What is the annual installment of bank loan? (3) calculate the quarterly installment of the financial institution loan. (4) should the company borrow from the bank of from the financial institution?
How can you define departmental accounting?
Audit 
