balance sheet of one of their clients M/s Vinod Enterprise. Liabilities Amount Assets Amount Equity Share Capital 50000 Fixed assets 87500 8% Pref Share Capital 10000 Investments 25000 Reserve Fund 40000 Stock 30000 6% Debentures 20000 Sundry Debtors 13500 Sundry Creditors 30000 Bank Balance 7000 P & L account Year 2000 - 1000 2001 - 20000 21000 Preliminary expenses 8000 Total 171000 Total 171000 The director intent to transfer a sum of Rs.5000 out of the current year’s profit to provision
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P5 – Profit & Loss and Balance Sheet Profit and Loss Sheet: | |£ |£ | |Sales: | |80‚000 | | | | | |Less Cost of Sales: | | | |Opening stock |32‚000 | | |Purchases |6‚000 | | |Less Closing stock
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Frozen Accounts/Garnished Wages If a debt collector has sued you for the repayment of a bad debt‚ your current wages may be garnished. In certain states‚ these lawsuits may allow the debtors to freeze your bank account or garnish your wages. Freezing a bank account or garnishing your wages will require the debtors to get a court order‚ but it is a realistic and frightening
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a) Advise on the relationship between a bank and its customer. Explain the duties and rights each has towards each other. b) Name and discuss any three types of negotiable instruments AUTHOR: KATALILO JOY INTRODUCTION This paper is aimed at discussing the relationship between a bank and its customer and the duties and rights each has towards each other. In discussing the relationship a scenario will be considered. The paper will further discuss
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existing credit prior to the contract to be rescinded b. fraud on the part of the debtor c. creditor cannot recover his credit in any other manner 4. Contracts which refer to things under litigation 5. All other contracts specially declared by law to be subject to rescission Article 1382 ▪ Payments made in a state of insolvency ***Payments made in state of insolvency for obligations to whose fulfilment the debtor could not be compelled at the time of they were effected‚ are also rescissible.***
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existing obligation with a new obligation or replaces an original party with a new party.” In Wharton’s Law Lexicon‚ 15th Edition‚ 2009 at p.1174‚ the meaning of the term ‘Novation’ is stated as “the substitution‚ with the creditor’s consent‚ of a new debtor for an old one.” In Nolo’s Plain-English Law Dictionary: “The voluntary substitution of a new contract for an old one‚ usually to change the parties‚ duties‚ or payment terms.” In P.S. Atiyah’s An Introduction to the Law of Contract‚ 3rd
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Application Of Funds Gross Block 13.98 13.98 13.97 13.97 Less: Accum. Depreciation 9.96 9.41 8.86 8.31 Net Block 4.02 4.57 5.11 5.66 Capital Work in Progress 0.13 0.13 0.13 0.13 Investments 0 0 0 0 Inventories 0.44 0.06 0.12 0.24 Sundry Debtors 0.04 0.03 0.26 0.56 Cash and Bank Balance 0.13 0.06 0.15 0.37 Total Current Assets 0.61 0.15 0.53 1.17 Loans and Advances 0.43 0.43 0.4 0.37 Fixed Deposits 0 0 0 0 Total CA‚ Loans & Advances 1.04 0.58 0.93 1.54 Deferred Credit 0 0 0 0
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The Civil Code of the Philippines AN ACT TO ORDAIN AND INSTITUTE THE CIVIL CODE OF THE PHILIPPINES The Civil Code of the Philippines - At a Glance Preliminary Title Articles 1-36 Book One Articles 37-413 Book Two Articles 414-711 Book Three Articles 712-1155 Book Four Articles 1156-2270 \REPUBLIC ACT NO. 386 AN ACT TO ORDAIN AND INSTITUTE THE CIVIL CODE OF THE PHILIPPINES PRELIMINARY TITLE CHAPTER I EFFECT AND APPLICATION OF
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Competitive Attribute Program ¡V Iridium Mobile Satellite System Project The ability to capture values along the Technology Adoption Lifecycle determines not just how successful a firm will be‚ but whether it will create competitive advantage through technology. Businesses with large fixed costs‚ capital-intensive business plans‚ and specialized asset bases will face the challenge to maintain its strategic continuity because it is generally prohibitively expensive to change direction to response
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ACKNOWLEDGEMENT Completion of the project is not a one handed affair. It needs timely guidance‚ co‐operation from the working members and the freedom to work. I am earnestly grateful to Mr. Kamal Manik‚ Dy. General Manager (Finance)‚ JK Tyre & industries limited‚ New Delhi for providing me with an opportunity to undertake a project work in their esteemed organization. I would also like to thank Mr. Sanjay Arora and Ms. Namita Gulati for her constant guidance. Finally‚ I am deeply indebted to all
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