anuj jain (no) (161 Points)
11 September 2011
Tanash Chakraborty
(KPMG)
(292 Points)
Replied 11 September 2011
Rahul
(Chartered Accountnat CS)
(1580 Points)
Replied 11 September 2011
Ans 1 Nature- NOMINAL ACCOUNTS as they are income and expense they represent nominal nature
Since they are taken to P & L A/c they are revenue in nature
Rahul
(Chartered Accountnat CS)
(1580 Points)
Replied 11 September 2011
Ans 2 Allotment clarifies the persons to whoom the shares to be alloted. Hence interest is calculated after that date. Consider a situation where there is over subscripttion of shares and you pay it from application date
Rahul
(Chartered Accountnat CS)
(1580 Points)
Replied 11 September 2011
Ans 3 They are surely deffered in nature. AS they are to be set off from capital profits. They are showed under Miscellaneous expenditure head of Balance Sheet. They are very huge in amount and cannot be showed as revenue
Rahul
(Chartered Accountnat CS)
(1580 Points)
Replied 11 September 2011
Ans 4 It is merely a method of presentation given by companies act
Rahul
(Chartered Accountnat CS)
(1580 Points)
Replied 11 September 2011
Ans 5 I dont think it is given in class 12. which book u r refering to?