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!
Variation of securities
It would seem logical to carry out a strict apportionment between income and capital every time investments are bought or sold. If this were done, it would be necessary to divide the purchase price or sale proceeds between the pure capital element and the adjustment of income rights.
In practice, this is not done, following the rules of convenience, on the grounds that it unnecessarily complicates the accounts. The situation is, therefore, as follows:1. Purchase of investment cum. div. The life tenant is entitled to the whole income when received, except where the investment is purchased cum. div. after the dividend has been declared, when the whole dividend goes to capital (Re. Peel's Settled Estates).
2. Disposal of investment cum. div. The life tenant is not entitled to any of the sale proceeds (Scholefield v. Redfern).
3. Disposal of investment ex. div. The whole dividend received after disposal belongs to the life tenant. Any organized course of action to the detriment of the life tenant or the remainderman would be actionable by that party as a breach of trust.
Short-term Creditors: Bankers and another short-term creditor have an interest same to those of the debenture holders and equity shareholders who are interested in the profitabil
On July 1, 2010, Spear Co. issued 1,000 of its 10%, $1,000 bonds at 99 plus accrued interest. The bonds are dated April 1, 2010 and mature on April 1, 2020. Interest is payable sem
Illustration of double entry The balances on the current accounts of a head office and branch were Ksh 698,000, before the transactions listed below: Normal 0
Illustration of Bankruptcy Njuguna Mwandawiro, carrying on a business as a trader in Likoni, Mombasa, finds himself insolvent, and on 15 August 1997 files his petition in bankr
Which of the following is not a measurement issue in accouting a. when to record a business transaction b. how to classify the items of a businesss transaction c. when to classify
Deferred taxation is caused by timing differences that arise when a transaction is recognized differently for accounting and tax purposes; for i.e, capital expenditure, that invol
Below is information about the spot and forward rates for three currencies against the US dollar (USD): Currency (exchange rate) Spot Rate Six-month forward rate Euro (EUR)
For several firms trade payables - suppliers of goods and services - represent the major component of current liabilities the amounts owed by the company which have to be repaid wi
Straight-Line Depreciation - ACCOUNTING method which reflects an equal amount of wear and tear during every period of an ASSET'S useful life. For example annual STRAIGHT-LINE DEPRE
Types of temporary differences There are two main types of temporary differences; 1) Taxable temporary difference : If the carrying amount is more than the tax base then
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