Archive about 'Limited Companies'

In Accounting, What Do We Mean By Retained Profits

The profits of a company after tax are distributed or appropriated as decided by its directors. Not all the profits after tax will be distributed. The profits that are not distributed or appropriated are known as “retained profits”.

Explain What Is Meant By An Annual General Meeting, Annual Report And Accounts and Annual Return

Earlier article describe the difference between the Articles Of Association and Memorandum Of Articles. Below briefly describe in some commonly used-terms in both private and public limited company namely:-company’s annual general meeting, annual report and accounts and annual return: Annual General Meeting ( abbreviation AGM) Held only by limited company ( not in sole proprietorship [...]

What is Distributable Profits Of A Company?

What do we mean by Distributable Profits of a Company? Suggested Answer: Distributable profits are the profits of a LIMITED company that are available for distribution to the shareholders as dividends. These are revenue reserves including the profit and loss account and the general reserves.

What Is The Meaning Of Treasury Stock And How Is It Represented/Classified In The Balance Sheet?

Can you tell me (a) what is the meaning of treasury stock and (b) how is it classified in the Balance Sheet? Answer to (a): When a company buys its own stock in the open market, the stock re-purchased is called Treasury Stock. Where there is a difference between the number of shares issued and [...]

Listing Of Articles Under Heading Limited Companies

Append below a summary of articles on Limited Companies   ISSUANCE OF SHARES,ETC Terms Used in Relation To Share Capital Issuance of shares and debentures Revision Notes On Limited companies On Issue Of Shares On Installments & Method Of Raising Share Capital Oversubscription of Share Issued Subscription Of Shares By Installment-Calls In Arrears   PROFIT [...]

Answer To Accounting Test Question No. Ltd 2 On Limited Companies-Profit & Loss Appropriation Account

The question on this limited company asked for a simple preparation of the Profit & Loss Appropriations where the dividends are considered. Answer Paper to Accounting Test Question No.Ltd 2 on Limited Companies Jim Ltd Profit & Loss Appropriation for the year ended 31 December 2007 $ $ Net Profit 900,000 Add: Retained profit b/d [...]

Accounting Test Question No Ltd 2 On Limited Companies

Below is a straight forward question on Profit & Loss Appropriation Account. Question: Jim Ltd made a net profit of $900,000 for the financial year ended 31 December 2007. Retained brought forward is $50,000. (a)    The company issued out 100,000 10% preference shares of $1 each and 200,000 ordinary shares of $2 each (b)     Interim [...]

Answer To Accounting Test Question No. Ltd 1 On Limited Companies-Profit & Loss Appropriation Account

The question on this limited company asked for a simple preparation of the Profit & Loss Appropriations where the dividends are considered. Answer Paper to Accounting Test Question No.Ltd 1 on Limited Companies Jim Ltd Profit & Loss Appropriation for the year ended 31 December Year 8 $ $ Net Profit 41,500 Add: Retained profit [...]

Accounting Test Question No Ltd 1 On Limited Companies-Profit & Loss Appropriation Account

Below question is testing the reader on the preparation of the Profit & Loss Appropriation Account. {Hint: So from the masses of data, just pick up the net profit for the year ended and worked on the dividends whether paid or payable and for the different types of dividend re: preferential & ordinary share.] Question: [...]

Limited Companies:Subscription of Shares By Installment: Call In Arrears

This article deals with a limited company which has issued shares by installment and whereby the shares are called up and the shares applicants are informed to settle their installments on shares but the company has not being able to collect payment on the due date. The accounting entries are shown and an illustration being [...]