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Jossy Company Plc has a nominal capital of N70,000,000 dividedinto 6% preference sharess of 40,000,000 at N1.00 each. Thecompany issued all the ordinary shares fully paid. 15,000,0006% prefernce shares of N1.00 each at N0.95K were offered for publicsubscription on 5th May 1985 payable as follows:
50K per share on Application 30K per share on Allotment 15K per share (discount of 5K) on first andfinal call a month after allotment.
The balance at bank was N20,000,000 on 5th May 1985. All the shares were subscribed and allotted. Application and Allotment money were received on 10th and 20th May1985. Show the necessary entreis in the books of Jossy Company Plc.
The County Commission of Brook County adopted its General Fund budget for the year ending June 30, comprising estimated revenues of $3,200,000 and appropriations of $2,900,000. Brook County utilizes the budgetary accounts required by GASB stan..
Using the information above, what will be the approximate value of these exports in 1 year in U.S. dollars given that the firm executes a money market hedge?
The average daily demand is 150 customers. The convenience store currently operates 6 hours a day. Each order takes approximately 2 minutes. a. What is the average customer waiting time, in minutes?
Can Microsoft Access serve as a corporate database solution, or is it strictly a personal database solution? What might be the difference between a personal and corporate database solution?
A company has a process that results in 15,000 pounds of Product A that can be sold for $8 per pound. An alternative would be to process Product A further at a cost of $100,000 and then sell it for $14 per pound. Should management sell Product A n..
Is there a difference between financial statement fraud and other types of fraud? How does the definitions differ (if they do)? Should there be a distinction between the two or not?
Under a perpetual inventory system, record all of the journal entries required for the above transactions
Compute the average markup percentage for setting prices as a percentage of the full cost of the product. Compute the average markup percentage for setting prices as a percentage of the variable cost of the product
Casso limited has an option to purchase new car for the use froma bank on loan for Rs. 100,000 with 16% interest payable. Find which option is more suitable for the company.
Does it appear that the new controller has been effective in managing cash?
In its December 31, 2009 financial statements, E-Z Prices estimated that losses on its current receivables would be $10.2 million.
Speculate about which specific types of corporate deductions are most likely to result in an IRS audit and what precautions should be taken to minimize the risk of audit. Provide a rationale for your response.
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