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max2010maxim [7]
3 years ago
14

What is the maximum limit for discount on issue of debentures?

Business
1 answer:
Dmitry [639]3 years ago
6 0

Answer:

A company may issue shares at a discount i.e at a value below its par value. The following conditions must be satisfied in connection with the issue of shares at a discount :

The shares must be of a class already issued

Issue of the shares at discount must be authorised by resolution passed in the general meeting of company and sanctioned by the company law board.

The resolution must also specify the maximum rate of discount at which the shares are to be issued

Not less than one year has elapsed from the date on which the company was entitled to commence the business.

The shares to be issued at discount must issued within 2 months after the date on which issue is sanctioned by the company law board or within extended as may be allowed by the Company Law Board.

The discount must not exceed 10 percent unless the Company Law Board is of the opinion that the higher percentage of discount may be allowed in special circumstances of case.

Hope this helps

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Answer:

1.23

Explanation:

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Cost of Sales=Opening Inventory+Purchases-Closing Inventory

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Average Inventory= Opening + Closing/2

                              = 5,500+3,800/2= 4,650

Inventory Turnover Ratio= <u>Cost of Sales</u>

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                                          = 5,700/4,650=1.23

8 0
3 years ago
Riverboat Adventures pays $310,000 plus $15,000 in closing costs to buy out a competitor. The real estate consists of land appra
netineya [11]

Answer:

Land 32,500

Explanation:

\left[\begin{array}{cccc}&fair \: value&percent&accounting\\land&35,000&0.1&32,500\\bulding&105,000&0.3&97,500\\paddleboats&210,000&0.6&195,000\\&350000&&325000\\\\\end{array}\right]

We will first calcualte the percent of each component of the real state.

Then we multiply by the total cost paid, which is 325,000

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On January 1, 2020 (the date of grant), Ayayai Corporation issues 1,900 shares of restricted stock to its executives. The fair v
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Answer and Explanation:

The journal entries are shown below:

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Compensation expense Dr.  $15,000 ($45,000 ÷ 3 years)

         To unearned compensation $15,000

(Being one year compensation became due is recorded)  

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When working on a major project which is not a good step for keeping the overall scope in mind
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Bob and Lisa are both married, working adults. They both plan for retirement and consider the $2,000 annual contribution a must.
ikadub [295]

Answer

The answer and procedures of the exercise are attached in a microsoft excel document.  

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Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

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