05-28-2006, 02:15 AM
1. In the absence of any agreement, shares given as Purchase consideration are distributed among partners in
Capital sharing ratio OR profit and loss sharing ratioâ¦
2. Where partnership is converted to Ltd company and cash and bank is not taken over by the new company, is it necessary that the cash A/C shall show a nil balance at the end after appropriate distribution to partners. Can there be a case where the cash A/C doesnât show a nil balance???
