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Powers of trustee
(A) Of his own initiative, he may:1. Sell and transfer any part of the bankrupt's property;2. Gives receipts for money received;3. Take all necessary steps to recover debts due to the bankrupt;4. Exercise any powers vested in him under the bankruptcy act (cap.53)5. Bar an entail; and6. Do all necessary or expedient acts in his official name.(B) With permission of the committee of inspection or the court, he may:1. Carry on the business of the bankrupt;2. Bring and defend legal proceedings relating to the bankrupt's property;3. Employ a solicitor or other agent;4. Sell property in consideration of a future payment;5. Mortgage or pledge any part of the property;6. Refer disputes to arbitration and compromise claims;7. Distribute property in specie among creditors;8. Appoint the bankrupt to manage his property or carry on his trade for the benefit of the creditors; and9. Pay such allowances as he thinks fit to the bankrupt for the support of himself and of his family.
The company pays its employees at the end of the day Friday for work done during that five-day work-week. Total wages for a week are $16,000. In the current year, December 31 occur
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Number of Periods of a one Payment a) If you deposit money today in an account that pays 7.5% yearly interest, how long will it take to double your money? b) What's the future
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PC Bank has $100,000 in fixed rate loans paying an annual interest rate of 10 percent, payable semiannually. PC Bank also has $100,000 in certificates of deposit. Their depositor
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How do I treat with Expenses Outstanding, for example, Marketing Expenses outstanding at year end is $1250. How do I adjust?. It is a note under the trial balance.
Wider-range Investments (Requiring advice in writing from a properly qualified person) Quoted shares of a company with a paid-up capital of not less than Shs10m and has
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