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Answer the following questions. Question 1 (CLO 3) Ida and Muaz formed a company to run a furniture business. The company was known as Idaman
Answer the following questions. Question 1 (CLO 3) Ida and Muaz formed a company to run a furniture business. The company was known as Idaman Furniture Sdn Bhd Ida and Muaz were the sole shareholders of the company and they held equal shares of 50% each. In order to raise capital for the company, they borrowed a money from Sila Bayar Bank for the sum of RM200,000 When their business growth. Muaz meet Mira and she became his second wife Muaz then gives 25% of his shares to Mira. When Ida found out, she set up another company called Ida's Sdn Bhd and she intended to acquire Mira's shares in Idaman Furniture Sdn Bhd. However, since her company is still new, she does not have enough fund for the said purchased. She then signed a resolution for Idaman Furniture to give a financial assistance to Ida's Sdn Bhd to enable it to acquire Mira's shares Muaz on the other hand, sell his own apartment to Yusuf to raise money to enable him to incorporate another company. After Yusuf paid the deposit of RM500,000. Muaz realized that the apartment is having a sentimental value and he then transferred the apartment to Idaman Furniture Sdn Bhd Advise the liabilities of Idaman Furniture Sdn Bhd together with Ida and Muaz for all the debts and actions taken on the above situations. (25 marks)
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