Assume that the total assets, liabilities, and equity of the company is OMR 75000, OMR 30000 and OMR 45000 respectively. The company purchased OMR 6000 raw materials and paid OMR 3500 immediately. As per the agreement, remaining amount to be paid on 30th day from the date of purchase. Identify the effects of above transaction on different components of balance sheet. a. Assets of the company increase by OMR 3500 and liabilities of the company increase by OMR 2500 b. Assets of the company decrease by OMR 3500 and liabilities of the company increase by OMR 2500 c. Assets of the company increase by OMR 2500 and liabilities of the company increase by OMR 2500 d. Assets of the company increase by OMR 6000 and liabilities of the company increase by OMR 2500

what does it means to be a “remainderman” of a life estate interest. Can this interest be sold?

John owns a small rental cottage in St Augustine and his mother Brenda lives nearby in a rented apartment. He is concerned about her having a secure home to live in after her retirement so he decides to convey the cottage to her for the rest of her life, after which, ownership will revert to him. What would John's attorney probably have advised him to do to achieve these goals? Establish a Trust with his mother as one of the trustees Convey a tenancy at sufferance to Brenda. Convey a tenancy by the entireties to Brenda, pur autre vie. О Convey a life estate to Brenda with the right of reversion to John.

Fiona, Celine and Donna have recently commenced a business together making custard pies using the name 'FCD's Custard Pies' as their trading name. They also sell coffee and soft drinks. Only Donna has put capital into the business, and no formal agreement exists between them. However, on many occasions Fiona has purchased stock for the business from their various suppliers by using her own money, and she has also set up an account with the suppliers in the name of 'FCD's Custard Pies'. Celine also has often placed orders on behalf of the business with their various suppliers for stock. 00:0 At their next meeting Fiona suggests selling alcoholic beverages. Donna likes the idea, but Celine does not. Celine says that such a change would require renovation of the shop, and also obtaining a licence to sell alcohol. This requires an application to the relevant government authority, which may reject the application. After giving it lots of thought, Donna decides to leave the business in two…

To acquire a 400,000 square foot industrial park in Boca Raton, Florida at a purchase price of $40 million, an investor put down 40% and borrowed $24 million with a 30-year fully amortizing fixed rate mortgage loan at an annual contract interest rate of 5% payable monthly. The borrower was charged two points by the lender that was deducted from the loan amount at closing. If the monthly payments on the loan were paid on time each month and if the loan was fully repaid at the end of 10 years with no prepayment penalty, what was the effective annual yield on the loan to the payoff date? a.5.28% b.5.38% c.5.18% d.5.08%

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?

Mr. Mermiad gets paid on commission. He sold a car for $56,000 and gets 8% commission. How much did Mr Mermaid make on this sale?

subject; accouting

On May 14, a prospect completes an application for insurance. The producer collects the initial proman and a conditional recept. The manos company determines that the prospect is insurable and issues a standard policy on May 26. If the producer delivers the policy to the insured on June 1, the effective date of coverage A May 14 May 24 May 26 June 1 OB ●C. OD.

What is the nature and extent of Surety ' s of liability ?