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Preferential debts
These are almost the same as in bankruptcy; with the addition that any person who has advanced money for the payment of wages has the same priority as the person receiving payment out of the advance would otherwise have had s.311. The "relevant date" for calculating these debts is the date of the resolution to wind up, or the date of the winding-up order or of the appointment of a provisional liquidator. There are no pre-preferential debts in liquidation, and the only deferred debt is interest in excess of 6 per cent per annum.The preferential debts in bankruptcy include the following:
You are preparing and income statement and analysis of retained earnings for Pacioli Wholesale Corporation for the years ended June 30, 2011 and 2012 based on the following informa
Explain:- Q.1 Explain the ways in which the needs of internal and external users of accounting information are the same and different. Q.2 Why is it important for financial sta
On December 31, 2014, Santana Company has $7,194,600 of short-term debt in the form of notes payable to Golden State Bank due in 2015. On January 28, 2015, Santana enters into a re
Holding company with more than one subsidiary company Under this type of structure, the holding company controls more than one company. For example H ltd may Own 80% of S1, 75%
inventory ratio of 4 compared to 7.1
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a) Company X is expected to maintain a constant 7% growth rate in their dividends, indefinitely. If the company has a dividend yield of 4%, what is the required return on their sha
Q. Lack of assets available to offer as collateral or security? If SMEs wish to access bank finance for instance, then banks will wish to address the information problem referr
Dividends During the year, the company paid a dividend of Sh.2 per share on the ordinary share s outstanding and Sh.1 on the preference shares outstanding. The company is now pr
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