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Question - Pheonix Limited made an offer to the public via a prospectus of 1,000,000 shares with an issue price of $1.00 per share. The shares were payable as $0.50 on application and a further $0.20 on allotment and $0.30 on call. Applications closed on 1 March 2020 and 1,500,000 applications were received (an oversubscription of 500,000 shares). Allotment was made on 20 March 2020. The company allotted 1,000,000 shares and the excess application monies were retained against allotment and call amounts. The call money was due on 1 October 2020. All monies to be paid have been received on time except 100,000 shareholders who could not pay the call money. These 100,000 shares were forfeited by the management on 20 November 2020. Prepare the journal entries to record the above.
fletcher inc. produces hair brushes. the selling price is 20 per unit and the variable costs are 8 per brush. fixed
Assuming the maximum period allowable is used for patent amortization, what is Moose's patent amortization expense for 2015?
Prepare entries to record the sale of the copiers and the related warranty costs, assuming that the accrual method is used. Actual warranty costs incurred in 2010 were $17,000.
What is a URL, and how is it used?
Which of the following statements concerning the Ultramares Corp. v. Touche case is not true?
Determining Cash Balance The controller for Weinstein Co. is attempting to determine the amount of cash and cash equivalents to be reported on its December 31, 2010, balance sheet. The following information is provided.
Rejoice held undistributed income of $270,400 at the end of its 2017 tax year. Calculate the initial tax on undistributed taxable income
Question - Preparing and posting journal entries; preparing a trial balance. The company completed client services for $10,200 on credit
starfleet corporation has one temporary difference at the end of 2012 that will reverse and cause taxable amounts of
Limited Partnerships do not need to file anything with the state to establish their legal existence because a partnership
BigCorp amortizes patents over 15 years. What is the amortization of the goodwill over the first full year after the acquisition
Explain and describe how employees are set up in QuickBooks payroll, What payroll reports can be generated from QuickBooks
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