Hello everyone...
I would like to know about the future prospects of CPA (ICFAI, Tripura) with CA

Here is the question:

A, B, C & D were in partnership sharing p/l in the ratio of 4:3:2:1 respewctively. they decided to dissolve the firm on 31 Dec. 2006, when their B/s was as follows

Liabilities Amt Assets Amt.
Capital
A 7000 Cash 1000
B 4000 Debtors 25000
C 8000 Stock 12000
D 3000 B/R 7000
Bank Loan 10000 Loss 15000
Loan from B 4000
Creditor 24000
....... .......
60000 60000
....... ........

The Assets were realised as follows
a. Debtors Rs. 25,000
b. B/R Rs. 6,000
c. Stock Rs. 9,000
d. B & D were both become insolvent
Give Necessary a/cs in the books of the firm acc. to the Indian practice.


Now my question is

a. what should be the treatment of loss which is given in the question ? In how many of the partners will it be distributed?

b. Is it right to use Garner Vs Murray to solve the problem if not then what is the actual difference b/w Garner vs Murray and Indian Practice.

hi,
im a b.com graduate with 76%,
hav cleared cpt(feb 2008) with 129 mks, plz anyone can suggest me which firm i should join in mumbai(central line) it will be gr8 if anyone can provide me list of ca firms in mumbai(central line)& which classes is best for pcc do reply.. my email id is khanhuma_786@yahoo.co.in

Dear all

please tell me that the FBT is applicable of those expenses which are incurred for the export of article or thing. A company engaged in export of computer softwares in this case weaher can we include the expenses incurred for regarding the sale or export(Income in FBT.

please tell me ASAE.

Dear Sir,

One of my client have the claim over the company for Rs 45,00,000/- . The amount is receivable from the company for 6 years , can they enforce their right to claim amount withut application of Sec 500 for Winding up by Sundry creditors.

We have to dedect Tds on Hotel Bill.so sir please tell me It comes under what section sir it is not an Regular Basis.our company take conference hall in hotel once a year

We have to dedect Tds on Hotel Bill.so sir please tell me It comes under what section

I have purchased MAFA reference book written by Khan and Jain. But some of my friends are saying this book is not good as one by Pattabhiraman and S.D. Bala. Can I continue with Khan and Jain's text book. I am confused. Please answer.

Bonus is Taxable in the hands of Employees on Receipt basis or Accrual Basis

Can a Practicing C. A. become a Farmer without surrendering C.O.P.Whether any permission is to be taken for this from ICAI.