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Udoh Investment Limited has a registered capital ofN1,000,000 ordinary shares of N1each issued and fully paid. The directors raised 4% debentureof N100 each for public subscription on 1st July1990 payable by instalments as follows:
N40 per Debenture on ApplicationN60 per Debenture on Allotment
All the debentures were fully subscribed and allotted. Application and Allotment money were received on 8th and 12th July1990 respectively. You are required to make entries in thebooks of the company.
The seller paid transportation costs of $1,000 and issued a credit memorandum for $2,000 prior to payment. What is the amount of cash received by the seller if the invoice is paid within the discount period?
the company is large, she is only requisitioning a small amount of material compared to total company operations and she does have documentation of the cost.
Gilbert expects to receive 70% of his revenues in cash during the month of sale and 30% in the following month. Gilbert receives his dolls on consignment, with the purchase price being due at the time of the sale. Thus, Gilbert's cash outflow for ..
What is the balance in the patent account on the consolidated balance sheet at December 31 2005.
Jones accounts for its treasury stock transaction using the cost method. What amount would Jones report as Common Stock in the equity section of its December 31 balance sheet?
Keshena Co. borrows $170,000 cash on November 1, 2009, by signing a 120-day, 7% note with a face value of $170,000. How much interest expense results from this note in 2009?
In 2013, it is determined that the total estimated life should be 10 years with a salvage value of $5,490 at the end of that time. Assume straight-line depreciation.
What is the future value of a 7%, 5-year ordinary annuity that pays $300 each year? If this were an annuity due, what would its future value be?
Solar Company has 600,000 shares of $75 par common stock outstanding. On February 13, Solar declared a 3% stock dividend to be issued April 30 to stockholders of record on March 14. The market price of the stock was $90 per share on February 13..
Shelly offers to sell Jane goods both parties know are stolen. Jane accepts the offer, and agrees to pay for the goods. Later, Jane refuses to accept or pay for the goods. If Shelly sues Jane for breach of contract, what is the probable result?
50 percent debt and 50 percent equity. If it makes this change, its resulting market value would be $820,000. What would be its new stock price per share?
A Clarke Corporation subsidiary buys marketable equity securities and inventory on April 1, 2009, for 100,000 pesos each. It pays for both items on June 1, 2009
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