top of page
Adaeze Nwobu
Apr 13, 20231 min read
Practice Activity 13.6 Probability that an entity will collect the consideration from the customer i
Practice Activity 13.6 Probability that an entity will collect the consideration from the customer in a contract The facts are the same...
1 view0 comments
Adaeze Nwobu
Apr 13, 20231 min read
Practice Activity 13.5 Meeting the criteria for accounting for a contract with a customer based on I
Practice Activity 13.5 Meeting the criteria for accounting for a contract with a customer based on IFRS 15 Steady Limited is an...
6 views0 comments
Adaeze Nwobu
Apr 13, 20231 min read
Practice Activity 13.4 Probability that a reporting entity will collect the consideration from a cu
Practice Activity 13.4 Probability that a reporting entity will collect the consideration from a customer The facts are the same as...
2 views0 comments
Adaeze Nwobu
Apr 13, 20231 min read
Practice Activity 13.3 IFRS 15 criteria when accounting for a contract with a customer
Solid Structures Limited develops real estate in Lekki, Lagos. The entity enters into a contract with a customer. The entity will sell a...
22 views0 comments
Adaeze Nwobu
Apr 13, 20233 min read
Practice Activity 13.2 Model for revenue recognition
A customer approached Firm Constructs Limited for the construction of a standard 5-bedroom duplex, a security house and a fence wall with...
25 views0 comments
Adaeze Nwobu
Apr 13, 20231 min read
Practice Activity 13.1 Rights and obligations arising from a contract agreement
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...
20 views0 comments
Adaeze Nwobu
Apr 13, 20232 min read
Practice Activity 12.4 Allocation of shares to the shareholders in a newly converted partnership bu
Practice Activity 12.4 Allocation of shares to the shareholders in a newly converted partnership business Peter, Stephen and Chukwuka...
1 view0 comments
Adaeze Nwobu
Apr 13, 20231 min read
Practice Activity 12.3 Preparation of accounts and the statement of financial position of a Limited
Practice Activity 12.3 Preparation of accounts and the statement of financial position of a Limited Liability Company immediately after...
0 views0 comments
Adaeze Nwobu
Apr 13, 20231 min read
Practice Activity 12.1 Conversion of a partnership business to a Limited Liability Company
Beautiful, Udo and Joseph are in partnership, trading as Blessing, Udo, Joseph & Co. In the partnership, profits or losses are shared in...
0 views0 comments
Adaeze Nwobu
Apr 13, 20231 min read
Practice Activity 12.2 Closing the accounts of a partnership business and opening the accounts in t
Practice Activity 12.2 Closing the accounts of a partnership business and opening the accounts in the books of a Limited Liability...
1 view0 comments
Adaeze Nwobu
Apr 12, 20231 min read
Practice Activity 11.18 Piecemeal realisation of assets using the assumed loss method
Ebubechukwu, Biakenechukwu and Kenechukwu have been partners for over two decades. They share profits or losses in the ratio 5:4:1. The...
2 views0 comments
Adaeze Nwobu
Apr 12, 20231 min read
Practice Activity 11.16 Presenting the statement of financial position after the absorption of a par
Practice Activity 11.16 Presenting the statement of financial position after the absorption of a partnership has taken place The facts...
1 view0 comments
Adaeze Nwobu
Apr 12, 20231 min read
Practice Activity 11.18 Piecemeal realisation of assets using the assumed loss method
Ebubechukwu, Biakenechukwu and Kenechukwu have been partners for over two decades. They share profits or losses in the ratio 5:4:1. The...
0 views0 comments
Adaeze Nwobu
Apr 12, 20232 min read
Practice Activity 11.14 Presenting the statement of financial position after the amalgamation of a
Practice Activity 11.14 Presenting the statement of financial position after the amalgamation of a partnership and a sole proprietorship...
1 view0 comments
Adaeze Nwobu
Apr 12, 20231 min read
Practice Activity 11.12 Capital contribution of partners in a partnership’s statement of financial p
Practice Activity 11.12 Capital contribution of partners in a partnership’s statement of financial position Akanchawa, Biakenechukwu and...
0 views0 comments
Adaeze Nwobu
Apr 12, 20230 min read
0 views0 comments
Adaeze Nwobu
Apr 12, 20231 min read
Practice Activity 11.8 Other deductions (for example, performance bonus) be-fore sharing profits or
Practice Activity 11.8 Other deductions (for example, performance bonus) before sharing profits or losses in a partnership business...
0 views0 comments
Adaeze Nwobu
Apr 12, 20232 min read
Practice Activity 10.10 Computation of shareholder ratios
The facts are the same as practice activity 10.9. Required: i. Calculate five shareholder ratios; ii. Discuss the implications of the...
0 views0 comments
Adaeze Nwobu
Apr 12, 20231 min read
Practice Activity 10.8 Working capital cycle
Ajabundu Limited was incorporated in Lagos, Nigeria, in January 2016. The following information was extracted from the company’s...
0 views0 comments
Adaeze Nwobu
Apr 12, 20233 min read
Practice Activity 10.6 Using the industry average to make comparisons between two or more business e
Practice Activity 10.6 Using the industry average to make comparisons between two or more business entities in the same industry The...
0 views0 comments
bottom of page