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Question -
1. Discuss the importance of Ethics in companies and identify potential ethical issues a company can face. Relate your discussion with relevant examples.
2. "Many businesses start life as sole traders or partnerships and convert to limited companies later". Discuss the above statement and explain at least two factors prompting such conversion in future.
3. Dolphin Co Ltd was registered on 1 June 2019 with a capital of 200 000 $1 shares. On 2 June 2017 the directors decided to issue 150 000 shares to the public on the following terms:
$0.25 on application
$0.50 on allotment
$0.25 on call
Application had been received for 170 000 shares and refund were made to remaining unsuccessful applicants. Allotment money due was received by 1 August 2019, at which date the call was made.
Required - Using the above information,
A. Prepare the necessary journal entries.
B. Prepare Shareholders Equity section of the statement of financial position as at 1 August 2019.
Using the relations among accounting categories demonstrated in the tables and identities in the text, use the information on values in the chart on the next.
What are Cutter Corporation's tax consequences (amount of deduction and tax savings from deduction) on the grant date, the exercise date
Which basis of accounting do most companies use, cash or accrual? Why? Which method is approved by GAAP? Why?
lion corporation manufactures several types of accessories. for the year the gloves and mittens line had sales of
The following list of accounts and their balances represents the unadjusted trial balance of Alt Company at December 31, 2014: Record the necessary correcting and adjusting entries. Indicate which of the adjusting entries may be reversed at the begin..
Prepare a list of questions you would like to ask to obtain the additional information you would need to make a more thorough analysis.
What is treasury stock, and where is it positioned on a balance sheet. Do gains and losses arise on treasury stock transactions. Why. Can retained earnings be increased or decreased as a result of treasury stock transactions.
PC, Inc. is a parent company of two subsidiaries, BMS, Inc. (BMS) and CYT, Inc. (CYT). Calculate the flexible budget variance for sales revenue
sawaya co. ltd. of japan is a manufacturing company whose total factory overhead costs fluctuate considerably from year
Identify the key steps in the closing process that provide the most opportunity to make mistakes in processing account transactions. Make at least two recommendations for improving the accuracy and reliability of the information in the gaps that y..
the expected average rate of return for a proposed investment of 800000 in a fixed asset with a useful life of four
An unrealized loss of $80,000 on available-for-sale securities. Prepare a statement of comprehensive income, beginning with income from continuing operations
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