Practice Activity 13.6 Probability that an entity will collect the consideration from the customer in a contract The facts are the same...

Practice Activity 13.5 Meeting the criteria for accounting for a contract with a customer based on IFRS 15 Steady Limited is an...

Practice Activity 13.4 Probability that a reporting entity will collect the consideration from a customer The facts are the same as...

Solid Structures Limited develops real estate in Lekki, Lagos. The entity enters into a contract with a customer. The entity will sell a...

A customer approached Firm Constructs Limited for the construction of a standard 5-bedroom duplex, a security house and a fence wall with...

A client approached Build with Care Limited for the construction of a Luxury 5-Bedroom Duplex for ₦68,000 on the client’s land. The...

Practice Activity 12.4 Allocation of shares to the shareholders in a newly converted partnership business Peter, Stephen and Chukwuka...

Practice Activity 12.3 Preparation of accounts and the statement of financial position of a Limited Liability Company immediately after...

Beautiful, Udo and Joseph are in partnership, trading as Blessing, Udo, Joseph & Co. In the partnership, profits or losses are shared in...

Practice Activity 12.2 Closing the accounts of a partnership business and opening the accounts in the books of a Limited Liability...

Ebubechukwu, Biakenechukwu and Kenechukwu have been partners for over two decades. They share profits or losses in the ratio 5:4:1. The...

Practice Activity 11.16 Presenting the statement of financial position after the absorption of a partnership has taken place The facts...

Ebubechukwu, Biakenechukwu and Kenechukwu have been partners for over two decades. They share profits or losses in the ratio 5:4:1. The...

Practice Activity 11.14 Presenting the statement of financial position after the amalgamation of a partnership and a sole proprietorship...

Practice Activity 11.12 Capital contribution of partners in a partnership’s statement of financial position Akanchawa, Biakenechukwu and...

Practice Activity 11.8 Other deductions (for example, performance bonus) before sharing profits or losses in a partnership business...

The facts are the same as practice activity 10.9. Required: i. Calculate five shareholder ratios; ii. Discuss the implications of the...

Ajabundu Limited was incorporated in Lagos, Nigeria, in January 2016. The following information was extracted from the company’s...

Practice Activity 10.6 Using the industry average to make comparisons between two or more business entities in the same industry The...