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The three certainties A trust will be valid only if the three certainties are present i.e. certainty of words, certainty of subject, and certainty of objects. 1. Certainty
Defunct Companies A company may be dissolved under s.338 without winding up if the registrar has reasonable cause to believe it is defunct: The procedure is: a. Registrar writ
Q. Define Constant working capital? The supposition of constant working capital should be investigated. Net working capital is probable to increase in line with sales and so ad
On January 1, a company issued and sold a $400,000, 7%, 10-year bong payable, and recieved proceeds of $396,000. Interest is payable each June 30 and December 31. The company uses
Q. Show the Capitalized Cost? Capitalized Cost - Expenditure identified with services or goods acquired and measured by theamount of cash paid or market value of other property
Valuing Callable Bonds: Bowdeen Manufacturing intends to issue callable, perpetual bonds with annual coupon payments. The bonds are callable at $1,350. One-year interest rates
1. What accounting firm performed the audit of Zetar's financial statement? 2. What is the address of the company's corporate headquarters? 3. What is the company's reporting
The principle that (1) requires revenue to be recognized at the time it is earned, (2) allows the inflow of assets associated with revenue to be in a form other than cash and (3
Q. Evaluate Break-Even Production units? R.S. Manufacturing Ltd. Budgets production of 3,00,000 units at cost of Rs.10 each. The Fixed costs are Rs.20, 00,000. The selling pric
A company that uses the perpetual inventory system purchased $8,500 worth of inventory on September 25. Terms of the purchase were 2/10, n/30. The invoice was paid in full on Octob
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