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Question - Thelma Corporation received authorization to issue 100,000 shares of 25 par value ordinary share capital. It completed the following selected transactions during the year.
Received subscription from Sioson for 20,000 shares at 30 per share, receiving 40% of the subscription price as down payment.
On due date, Sioson failed to pay the balance of the subscription price. The shares were declared delinquent and were advertised for sale at a public auction, Thelma paying 5,000 advertising costs.
Required - How much was the receivable from the highest bidder?
Financial Statement Analysis and Preparation
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This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
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T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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