Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Conversion of members' to creditors' winding up
If the liquidator in a members' winding up forms the opinion that the company will not be able to pay its debts in full within the period stated in the declaration of solvency, he must forthwith summon a meeting of creditors and lay before it a statement of the company's assets and liabilities, and thereafter the winding up proceeds as if it were a creditors' winding up ss.281, 284.
A creditor or contributory may petition for a compulsory winding up, notwithstanding that the company is being wound up voluntarily s.303. An application by a contributory will only be upheld if the court is satisfied that the rights of contributories will be prejudiced by the voluntary winding up. In the absence of special circumstances a creditor's application will fail if the other creditors wish the voluntary winding up to continue.
The matching rule is applied a. because it is required by the Internal revenue Code b. by expensing certain items immediately and in their entirety c. to help make the bookkeeper's
does closing balance of cash flow statement equals to cash in balance sheet
Legal Aspects There is no law relating to branch accounts but examination problems under this heading are frequently linked to either partnership or company account problems. Ans
By classifying by function Under this format, the expenses of the company are classified into 5 major categories i.e. Cost of sales [(opening stock + purchases – closing st
Instructions: The case should be done in your assigned groups. Hand in a brief write-up not exceeding two pages explaining what was done. In April 198
1-Dec $92,000.00 of 5% bonds are purchased with check. Interest is paid once a year and will mature in 5 years. The market yield for these bonds is 4%.
Dissolutions situations There are two situations that need to be considered under dissolutions. These are:- 1) Where the assets are sold at once (one single transaction) 2) As
I have tried to answer this assignment with no luck. Balance brought forward : Cash in Hand : $5000 Cash at Bank : $ 90,000 March 2 Received Cash loan of $25 ,0
The opening entries 1. Assets of the estate or trust In both cases the various assets of the estate or trust are debited to appropriate accounts and credited to the Estate Ca
Q. Define about SME FINANCE? SMEs contribute in a significant way to many economies in the world. Moreover generating income, in often large proportions in relation to GNP acro
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd