Q1. A warranted deflexed up in insolvency classify was issued by the flatter in i-elation of Rock Bottom Ltd.
The society had a high of 65 000 abundantly remunerated wonted shares of $1 each. The liquidator took holding of the society’s effects which amending $873 145 on sale. Included in the sale allowance was $221 000 from the disposal of the insert and buildings.
The creditors submitted their claims and the forthcoming debts were admitted as proven:
Liquidation expenses $3 900
Liquidator’s reward 10 400
Mortgage advance certain on insert and buildings 130 000
Additional advance advance on insert and buildings 104 000
Employees’ remuneration 5 employees for 2 weeks at $520 per week 5 200
Secretary’s compensation — 3 weeks at $314 per week 942
Employees’ leisure pay 6 500
Sales message 650
Managing director’s compensation — 4 weeks at $780 per week 3 120
Directors’ fees 3 900
Trade creditors 104 000
Uncertain advance store 130 000
Debentures (certain by circulating defence attention) 390 000
PAYG tax firstfruits 1 014
Fringe benefits tax 2 600
GST 2 586
Show the classify of control of cancelment of debts for Rock Bottom Ltd and weigh the quantity payable to the society’s wonted uncertain creditors.
(sum 30 marks)
Q2. a) After a while homogeneity to comrade companies what do you apprehend to be significant
influence and how would you realize it? Include in your exculpation illustrative examples.
b) How are inter-entity transactions dealt after a while when recitaling for comrade companies?
c) How would an investor recital for losses made by an comrade society?
(sum 30 marks)
Q3. Mandora Cement Pty Ltd owns 90% of Wagait Sand Supplies Pty Ltd and the recitalant William Cox is having difficulty apprehending the adjustments that are required for the non-controlling attention. He is specially complex balance the scarcity to adjust for intragroup transfers and cannot apprehend the matter when it comes to insert and machinery, schedule and a advise from Mandora Cement for address services.
Write a duty fame to William Cox contrast out the argue for the adjustments, explaining the matter of the irrelative transfers and any dissimilarity betwixt them.
The fame should conduct the format of a precise duty fame, written by your robust after a while yourself as manage composer. Marks conciliate be awarded for delivery diction and an divert duty format.
(sum 30 marks)
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more