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Question - SuperStar Ltd issues a prospectus inviting the public to subscribe for 30 million ordinary shares of $4.00 each. The terms of the issue are that $2.00 is to be paid on application and the remaining $2.00 within one month of allotment. Applications are received for 36 million shares. The directors allot 30 million shares. All applicants receive shares on a pro rata basis. The holders of 6 million shares have failed to pay the amounts due on allotment by the due date. The directors forfeited those shares. The forfeited shares were resold as fully paid. An amount of $3.40 per share is received. Keeping the shortfall amount, the directors returned the remaining money to the shareholders whose shares were forfeited. Provide the journal entries necessary to account for the above transactions and events.
Net income is not the same as net cash provided by operating activities. The differences are illustrated by the following results from recent annual reports (all data are in millions of dollars).
How apply the three step approach to solve an ethical problem you are experiencing at work or have experienced at work in a current or former workplace.
What the cumulative average time per task, rounded to the nearest minute is? An 80% learning curve was in effect for a certain industry.
Feinan Sports, Inc., manufactures sporting equipment, including weight-lifting gloves. A national sporting goods chain recently submitted a special order
What is the overhead efficiency variance? Standard quantity of machine hours 3 hours per unit. Budgeted fixed overhead P777,600 per year
Had cash flow statement been prepared using the direct method, Evaluate the amounts for? Cash received from Customers.
Byrnes Company accumulates the following data concerning a mixed cost, using units produced as the activity level.
Will Joe and Lauren have enough money to retire when they're 65 years old? You should use the 4% Rule to determine how much money
Calculate the unit cost if the rejection is attributable to exacting specifications and calculate the unit cost if the rejection is characteristic of the production process
Economic theory argues that the higher the price of a good, the lower will be the quantity demanded. When we call demand is perfectly elastic?
Compute for the building and Grounds Maintenance Department total amount to be allocated to the Storeroom Service Department and both producing departments.
What is a service? Explain how services differ from tangible products.3. Identify the three cost elements that determine the cost of making a product (forexternal reporting).
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