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Querist : Anonymous

Querist : Anonymous (Querist)

18 July 2011 please explain above problem, a company had purchased a business on 1-01-09.The company received its certificate of incorporation on 1-06-09.The average monthly sales for the period before incorporation was 25% more than the average monthly sales for the period after incorporation .The total sales during the year was Rs. 1325000. find out pre -incorporation and post-incorporation Sales.

U S Sharma

U S Sharma (Expert)
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18 July 2011 mention the year as there are two accounting years .........1-1-09 to 31-03-09 (08-09) and from 01-04-09 to year end.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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19 July 2011 What was the constitution of the business prior to incorporation? How your company is concerned with it. Your company came into existence only on 1.06.2009 and only after that you can show profit in the hands of the company otherwise in the status of pre-incorporation.

Have you issued the cheque from the bank account of the company?

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