X Ltd. forfeited 30 shares of Rs. 10 each fully called up for non payment of allotment money of Rs. 3 per share and call money of Rs. 4 per share. These share were re-issued for Rs. 8 per share fully paid. What is the amount to be transferred to Capital Reserve A/c:

As per the decision in the Garner vs Murray case, when the partner's capital accounts are fixed, any loss arising due to the capital deficiency in the insolvent partner's capital account is to be borne by solvent partners in the ratio of . . . . . . . .

Consolidated financial statements are prepared on the principle

The assumption that "Anticipate no profit and provide for all losses" is based on

Trade discount is allowed for:

Security premium reserve cannot be used for