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Disclaimer of leases
In principle where the bankrupt is a lessee the lease cannot be disclaimed without leave of the court; but such leave is not required in the following cases.1. If the property is not sublet or mortgaged and
2. If the property is sublet or mortgaged and the trustee serves all parties with notice of his intent to disclaim and no party within 14 days requires the matter to be brought to court.
QUESTION 1: P A RT A You are given with the following information relating to Rooney PLC . The accountant is currently developing the budget for the next three mo
CONVERSION INTO A COMPANY The partners may convert their business and trade in form of a company. This may be due to some of the advantages a company has over a partnership. E.g.
You have been provided with the following information on a fixed-fixed USD-GBP currency swap, the spot exchange rate between USD and GBP, and the USD and GBP yield curves: Fi
How other income is different from revenue from normal operations under the vertical format
Thomas Crown expects to earn the following stream of annual income for the next four years:- $41,000; $45,000; $38,000 and $50,000. Although he has adopted the ‘Pay Yourself Firs
RIGHTS AND DUTIES OF TRUSTEE The rights and duties of trustee are as follows: Powers of trustee: Sell and transfer any part of the bankrupt's property;Carry on the busines
1. Complete a horizontal analysis using the dollar and percent change in the following items from the preceding year to the current year: (one typed page: use a table format with f
Q. If a corporation declares a 10% stock dividend on its common stock, the account to be debited on the date of declaration is a. Common Stock Dividends Distributable. b. Common St
Explain:- Q.1 Explain the ways in which the needs of internal and external users of accounting information are the same and different. Q.2 Why is it important for financial sta
On January 7, 2016, Captec Company purchased $4,175 of supplies on account . In Captec Company’s chart of accounts , the Supplies account is No. 15, and the Accounts Payable accoun
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