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Dividends out of the capital profits
Dividends out of the capital profits are apportioned on the same basis as dividends out of income (Re. Doughty).
(a) Variation of securities:It would seem logical to carry out a strict apportionment between income and capital every time investments are bought or sold. If this were done, it would be necessary to divide the purchase price or sale proceeds between the pure capital element and the adjustment of income rights.
(b) Equitable apportionments:There are five leading cases where the courts have laid down rules to meet specific situations in which there is a conflict of interest between life tenant and remainderman. Equitable apportionments may be (and frequently are) barred by the will.
Received 10,000 contribution from bill london in exchange for common stock What 2 accounts are used
Uniform Accountancy Act (UAA) - UAA is the proposal for a new regulatory framework for the public accounting profession that was developed jointly by the American Institute of Cer
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Evaluate 1-1/3(5/6 - 1/2) ---------------- 2/5 / 2/5(5/6-2/3)
business is started with the objective of making profits but the conservatism concept says not to anticipate profit.... why so??
Didde Co. had 300,000 shares of common stock issued and outstanding at December 31, 2010. No common stock was issued during 2011. On January 1, 2011, Didde issued 200,000 shares of
For a capital lease the lessee records the lease payments as rent expense, but for an operating lease the lessee reports the lease payments as depreciation expense For an operating
Preference share capital in subsidiary (irredeemable) Investment in preference shares does not lead to ownership and therefore, if the holding company owns part of the preference
A____ is a loss to the business and a gain to the debtor
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