Discuss what are the various rules regarding the declaration and payment of dividend ?
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Discuss what are the various rules regarding the declaration and payment of dividend ?
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- Steven, an accountant, returning from his office, calls into a pub for a relaxing drink. He bumps into Paul, an old school friend, whom he has not seen for many years. During the course of the conversation over a number of pints, it emerges that Paul has recently inherited a substantial sum of money and is interested in investing in local businesses. Steven mentions that one of his clients, Precarious Ltd, is seeking financial backing and would make an attractive investment. By chance, he has a copy of the company’s accounts in his briefcase which he gives to Paul. Relying on these accounts, Paul invests £10,000 in Precarious Ltd, but loses everything when Precarious goes into liquidation six months later. In fact, the accounts had been prepared negligently and did not reflect the parlous state of the company’s affairs. Advise Paul.Michelle took out a $900,000, 30-year mortgage. After 30 years, Michelle paid a total of $1,330,000 to the lender. How much did Michelle pay in interest over the life of the loan? $430,000 $530,0 $490,000 $455,000According to the Public Trustees Act 1978, All unclaimed trust monies must be lodged annually into the unclaimed money's fund - To be lodged into this account, what requirements must be met to be considered 'unclaimed monies'?
- What are the problems non-compete clauses causes to the employee. And write what solutions can be provided to this problemwhat does it means to be a “remainderman” of a life estate interest. Can this interest be sold?How does the concept of constructive bailment arise and what are its implications in legal cases?
- What are the two exceptions to the general rule that an entity should allocate the transaction price based on the relative standalone selling price? Are the percentage-of completion and the completed contract methods both viable alternatives for a given contract Explain Does aggregating the five components of pension cost always result in a reduction in income? Do corporations report the projected benefit obligation and the plan assets as individual accounts on the sponsor corporation’s balance sheet?Skip and Jack are the shareholders of the Blue Fish Event Corporation. Skip and Jack regularly put on classy events on or near the beach, so they have a special insurance policy to protect their assets. Business has been slow as fewer large beach weddings are taking place, so Skip and Jack use a large fan to blow down and damage most of their décor assets, some of which were personal assets of Skip and Jack, to collect the insurance benefits. (a) Assuming their acts are proven, will a court allow Skip and Jack to recover the insurance money? (b) Is this a situation where the corporate veil may be pierced? Why or why not? (c) What would it mean for Skip and Jack if the corporate veil is pierced in this situation?What are the duties and responsibilities of an agent in an agency relationship?