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Retirement of a partner When one of the partners retires ante the others will continue trading, the n it is important that he gets a share of the goodwill that he helped create i
Q. What do you eman by Lease? Lease - Conveyance of buildings orland, equipment or other ASSETS from one person (LESSOR) to another (LESSEE) for a specific period of time for m
SECRET TRUSTS The initial basis of the doctrine of secret trusts was the refusal of equity to permit a statute to be used as an engine of fraud (e.g. Bannister v Bannister). Cer
Temporary or Timing differences Temporary/timing differences relate to those items that are adjusted in the current period and are again adjusted in subsequent financial period
The appropriate treatment of Cash flow in respect of the following items as per US GAAP & FASB - (230-10) 1. Receipt of Insurance settlement proceeds of $2 mill. From an intern
Process to increase the financial health of company Financial affairs of a limited company enter public domain. With exception of small companies, there is also a requirement f
In June 2004, Feltex Carpets Limited raised NZ $254 million in an initial public offering. Twenty seven months later the company was in receivership, its share price having collaps
Beginning balance 24,000 cash Sales 250,000 Gross profit 45% of sales Accounts receivable increase by 24,000 Accounts payable increased by 51,000 Inventory increased by 98,000 Sell
APPOINTMENT OF TRUSTEES Capacity : Any person with legal capacity to hold property may be a trustee, except an infant. But the court will not appoint, and may remove:Persons u
1.Assume that Abel business corporation is purchasing new equipment, for 350,000$ at the beginning of 2014. Assume that Abel business corporation is in the 30% corporate tax bracke
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