OBLICON: EXTINGUISHMENT OF OBLIGATIONs Payment or Performance 1. Montecillo vs. Reynes FACTS: Respondents Ignacia Reynes and Spouses Abucay filed on June 20‚ 1984 a complaint for Declaration of Nullity and Quieting of Title against petitioner Rido Montecillo. Reynes asserted that she is the owner of a lot situated in Mabolo‚ Cebu City containing an area of 448 square meters. In 1981‚ Reynes sold 185 square meters of the Mabolo Lot to the Abucay Spouses who built a residential house on the lot they
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MODULE-2 WORKING CAPITAL MANAGEMENT Concept of Working Capital Working capital refers to short-term funds‚ need to meet operating expenses. It refers to the funds; to finance its day-to-day operations. It is concerned with current assets and current liabilities. If a firm can’t maintain a satisfactory level of working capital‚ it may become insolvent or bankrupt. Broadly there are 2 concepts of working capital‚ such as: 1. Gross Working Capital (Quantitative Concept) 2. Net working
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Law Of Purchase And Sale Definition-: A sale is a contract in which one party delivers a thing to another who on his part promises to pay a certain price i.e. exchange of property for a price which is exchange of a merx for a pretium. A contract by which one party delivers‚ transfers or promises/ agrees to deliver or transfer a thing to another who in turn promises to pay a certain price in money consideration. Essentials Agreement-Animus-Intention Animus venendi – agreement
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CERTIFICATE This is to certify that the Financial Report based on the Annual Reports of COLGATE PALMOLIVE (INDIA) LTD. is submitted by Ms. Ankita. M. Dalwani to N.R. Institute of Business Administration‚ affiliated to Gujarat University‚ in the partial fulfillment of the requirements for the completion of “Practical Studies” in the area of Financial Management at the Second Year of the B.B.A. Program for the year 2009-2010. ___________________ _________________ ____________________
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1.0 Executive Summary This report provides an analysis and compare of the current profitability‚ efficiency and financial stability of Premier Investments Ltd and David Jones Ltd over last 2 years. Methods of analysis include trend‚ horizontal and vertical analyses as well as ratios such as Gross Net profit margin‚ Inventory turnover and Current ratios. All calculations can be found in the appendices. Results of data analysed show that David Jones Ltd have better performance and is more stability
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only thing she would gain would be something she already had in the first place‚ her job. Second case: Mr. Creditor loaned Ms. Debtor a large amount of money‚ to be paid off in a year. Ms. Debtor is sexually attracted to Mr. Creditor‚ but he doesn’t share her interest. When the end of the year comes‚ Ms. Debtor says she will only pay if he consents to sex. This is a threat because if Mr. Creditor doesn’t consent to sex‚ then he will not get the payment owed to him‚ so he could only get what was rightfully
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concerned asset in the Balance Sheet. 7. To write off bad debts Bad Debts A/c Dr. To Debtors A/c a. Debit side of P & L A/c. b. Deduct from debtors on the assets side of B/S. 8. Provision for bad and doubtful debts P & L A/c Dr. To Provision for Bad Debts A/c a. Debit side of P & L A/c. b. Deduct from debtors on the assets side of B/S 9. Provision for discount on debtors P & L A/c Dr. To Provision for
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Cr. Purchases 21‚750 Discount allowed 1‚300 Wages 6‚500 Sales 30‚000 Salaries 2‚000 Travelling Expenses 400 Commission 425 Carriage inwards 275 Administration expenses 105 Printing exp. 600 Interest 250 Building 5‚000 Furniture 200 Debtors 4‚250 Capital 13‚000 Creditors 2‚100 Cash 2‚045 45‚100 45‚100 Stock on 31-03-2004 was Rs‚ 60‚00‚000. (a) Discuss the WDV and SLM methods of depreciation. Also mention the 07 major provisions of the Income Tax Act regarding depreciation. (b) “As per the revised Accounting
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Theme 5 Measuring Periodic Income Part A Balance Day Adjustments Learning Objectives a) state the meaning‚ types and purposes of balance day or date b) explain the meaning and purpose of balance day adjustments c) describe the relationships between going concern‚ accounting period and matching concept d) adjust and record prepaid expenses‚ expenses due‚ income accrued and income received in advance on balance day e) adjust and record bad debts‚ bad debts
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