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Grounds for compulsory winding up A company may be wound up by the court under s.219 if: 1) The company so resolves by special resolution, 2) Default is made in delivering th
what are assets?
In the current year, Company A is formed with $630,000 in capital from the sale of 21,000 shares of stock at $30 a share. Company A, which has no other operations, immediately acqu
Case laws related to accounting for investment
Illustration of Bankruptcy Njuguna Mwandawiro, carrying on a business as a trader in Likoni, Mombasa, finds himself insolvent, and on 15 August 1997 files his petition in bankr
Winding up under supervision Virtually obsolete, in consequence of s.303 and the power to invoke the court's assistance under s.301. If a supervision order is made, the effect
Are revenue and expense accounts permanent accounts and should not be closed at the end of the accounting period?
Kevin Murtuagh, manager of an national reservation service for a nationwide chain of luxury hotels, is concerned about productivity of his operation. Analysis of recent historical
Nature of a Deeds of Arrangement To avoid the expense and delay involved in a bankruptcy, a debtor in trouble may make a private arrangement with the creditors to accept paymen
Value of accounting information When assessing value of accounting information we are confronted with similar problems. Provision of accounting information can be very expensiv
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