assets $980 000 Non-current assets 4 220 000 5 200 000 Liabilities 500 000 $4 700 000 Consideration transferred: Shares: 100 000 x 10 x $10 $10 000 000 Patent 1 000 000 Cash: 100 000 x $5.20 520 000 $11 520 000 Goodwill = $11 520 000 - $4 700 000 = $6 820 000 B. Journal entries: Gabo Ltd Patent Dr 650 000 Gain Cr 650 000 (Remeasurement as part of consideration transferred in a business combination) Current assets Dr 980 000 Non-current assets Dr
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Introduction 1a. Different Types of Business Agreements A business agreement is a formally drawn written document or oral promise between two or more parties that details a particular business venture. A typical business agreement specifies details such as cost of goods sold‚ the product or service required‚ milestones‚ insurance‚ and work completion deadlines. Unilateral Agreement A unilateral agreement or contract is a legal binding one in which one party undertakes a promise without securing
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Contract • 3 Types of Contracts • 4 Offer • 5 Acceptance • 6 Lawful Consideration • 7 Competent To Contract • 8 Free Consent • 9 Revocation of Offer • 10 Agency • 11 Notes • 12 References • 13 External links [edit] Definition Section 2(h) of the Act defines the term contract as "an agreement enforceable by law". Section 2(e) defines agreement as "every promise and every set of promises‚ forming the consideration for each other." Again Section 2(b) defines promise in these words: "when
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mother suffers from this disorder as well‚ since they had frequent arguments throughout her childhood and adolescence about her excessive eating and weight gain. When assessing this client‚ it is important to take all of this background into consideration when looking for and discussing different types of treatment options. Although Andrea has tried many types of “fixes” to her disorder‚ none of them have had a long-lasting effect. This is where the therapist has to look outside the box to find
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obligations without an understanding of the fundamental and commons of the ethical basis of justice and also a thorough understanding of individual and organizational concerns and motivations A person’s individual privacy is one that is of utmost consideration within society and the workplace‚ many would consider it a high priority as a level of importance for one to be endowed upon
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– Harris v Nickerson Passenger who boards transport – Wilkie v London Mere statement of price IF they DECIDED to sell not an offer – Harvey v Facey Automatic vending machines and car parks are offers – Thornton v Shoe Lane Parking Options: Consideration must be provided to keep the offer open and offer cannot be withdrawn in period - Gilbert McCaul v Pitt Club Was the offer communicated? To be valid offer
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transferred to these accounts? LIQUIDATION ACCOUNT Assets taken over Contra assets Liabilities arising during the Liabilities assumed liquidation process Reserves Liquidation expenses Consideration received Balance to Shareholders Distribution SHAREHOLDERS’ EQUITY ACCOUNT Consideration paid to shareholders Share capital Balance Liquidation Account Exercises Exercise 14.21 ACQUISITION OF TWO BUSINESSES Required 1. Prepare the acquisition analysis for the acquisition transactions
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Second Exam Review Guide Chapter 8 – Negligence (5 extra credit questions) Know the definitions of negligence and negligence per se * Negligence – conduct that falls below the standard established by law for the protection of others against unreasonably risk of harm; not intentional and usually by accident * Negligence Per Se – violation of a statute that prohibits or requires a behavior in order to prevent harm to others; both duty of care and breach Know and be able to apply the
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another …unless the assumption be adhered to‚ would operate to that other’s detriment. Contrast between object of estoppel & consideration. Consideration – mark off promises as breaches and use remedies. Estoppel aims to prevent unjust departures from justified assumption‚ substitute for consideration. * Protection of reliance: promises supported by consideration enforced by contracts. Estoppel goes one step further- promise and reliance! Thompson v Palmer Dixon J: departure considered unjust
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[Type the document title] [Type the document subtitle] [Pick the date] [Type the company name] Khan QUESTION On 1 October‚ Buyer saw a courier van with a FOR SALE sign that included a telephone number and a price of "$25‚000 cash." That night‚ Buyer called Seller. Buyer explained that he would have to borrow the money but could get it next week. Seller provided his address to Buyer and told Buyer‚ "If you want the van‚ mail me a cheque for $5000. Pay the balance by1 November." Later
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