Ratio in case of conversion of partnership firm into cos
This query is : Resolved
CA ROHIT KUMAR SAMAR
(Querist)
23 October 2008
My client is converted from parternship firm to company as on 15th april 2007 and its partner capital was converted into share capital of the company.
For the purpose of calculating average working capital turnover ratio,as on 31st march 2008,should i take WC of partnership firm as on 2007.
For the purpose of calculating average working capital turnover ratio,as on 31st march 2008,should i take WC of partnership firm as on 2007.
S.Srinivasaraghavan
(Expert)
23 October 2008
What is the purpose of calculating this ratio, that is where do you want to declare this?
Lalit Maheshwari
(Expert)
13 August 2010
I think you are confusing between working capital & Partners Capital
Working capital is cirrent assets Minus Liabilities , for purpose of ratio take this number as on march 31,2008
further whre u require to sumbit this ratio
Working capital is cirrent assets Minus Liabilities , for purpose of ratio take this number as on march 31,2008
further whre u require to sumbit this ratio
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