1. Minimax construction company buys a delivery van for $600,000 on 1^st January 2019. Its estimated useful life in the business is 5 years, after which it will be sold for an estimated residual value of $50,000.

Required:

Prepares tables showing the carrying amounts brought down and carried down and the depreciation expense for each of the 5 years of useful life using:

a. Straight line method of depreciation

2. Reducing balance depreciation

2. In 2002 the financial scandals have shaken the world and pressures on the urgency of structured and strong system which should control and keep a balance between the relationship of stakeholders and minimize the agency problem.

1. Explain the meaning of corporate governance?

2. What are the primary objectives of implementing corporate governance mechanism? Support your answer with example.

3. Explain and discuss with examples errors that are not revealed by unadjusted trial balance.