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Solve the questions please Angela Peters practiced law with a partnership for 10 years. Recently she opened her own law office, which she operates as

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Solve the questions please

Angela Peters practiced law with a partnership for 10 years. Recently she opened her own law office, which she operates as a proprietorship. The name of the new entity is Angela Peters, Attorney. Peters experienced the following events during the organizing phase of the new business and its first month of operation. Some of the events were personal and did not affect the law practice. Others were business transactions and should be accounted for by the business.

Mar 1 Sold personal investment in eBay stock, which she had owned for several years, receiving $31,000 cash.

2 Deposited the $31,000 cash from sales of the eBay stock in her personal bank account

3 Received $139,000 cash from former law partners

5 Deposited $89,000 cash in new business bank account titled Angela Peters, Attorney. The business gave capital to Peters.

7 Paid $400 cash for ink cartridges for the printers

9 Purchased computer for the law office, agreeing to pay the amount $9,300, within three months.

23 Finished court hearings on behalf of client and submitted a bill for legal services, $13,500, on account.

30 Paid utilities, $1,200

31 Peter withdrew cash of $2,000.

Analyze the effects of the preceding events on the accounting equation of the proprietorship of Angela Peters, Attorney.

At March 31, compute the business

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QUESTION 1 A. "I write now to accept the offer without revocation. I would plead, however, that you do consider a serious reduction in the price quoted. I believe, as between friends, this is possible..." - Deegbe v. Nsiah [1984-86) 1 GLR 545. With the aid of decided cases, discuss the legal issues involved. (5 marks)Question 5 {25 marks} (a)Winter Ltd is in the process of winding up and Don is appointed the liquidator. He has established the following: {i} The company acquired a property in Kowloon for $31) million and it is the subject of a charge to Kowloon Bank for $21] million. The current market price of the property is $l million (ii) The company has other unencumbered noncurrent assets of $4 million (iii) The company has a bank balance of$l .04 million at Water Bank (iv) The company has not paid its tax bill of $200,013} (V) The company still owes its suppliers $4 million (w) Liquidator's fees of $E, is owed to Don (Vii) The company owes its non-executive directors a total of $2 million directors' fees (viii) The company owes each of its 4'!) employees wages of $6633\") and severance payment of $l,DD Required: Advise Don on how the assets of the company should be distributed. (please ignore the operation of the Protection of Wages Insolyllcy Ordinance} (15 marks} QUESTION 9 What areas of the legal environment of business are covered by treaties? O Product safety O Intellectual property rights O Human rights and global security Competition law QUESTION 10 Businesses tend to see law in a negative light because: The law creates obligations for society as a whole The law levels the playing field between companies The law constrains business activities The law allows businesses to be eligible for public funding

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