5:30 PM ← +91 94972 95529 Today, 2:25 pm * lll88 ILLUSTRATION During the year ended 31st December 2011, Ivory Investments Ltd. purchased and sold investments as per details below: 31st March-Purchased 10,000, 5 per cent Debentures of 100 each of Asbestos Ltd. at 97, brokerage and stamp duty amounting to 25,600. Interest is payable on the debentures on 1st July and 1st January. 1st May-Purchased 10,000, 6 per cent Cumulative Preference Shares of 100 each of Andhra Cements Ltd. at 95, brokerage and stamp duty being 24,200. Dividends are payable on 30th June and 31st December. 1st July-Sold * 6,00,000 Debentures of Asbestos Ltd. at 99 per hundred, less brokerage, etc. 3,600. 1st October-Purchased a further 4,000, 6 per cent, Cumulative Preference Shares of 100 of Andhra Cements Ltd. at 90, brokerage and stamp duty being 8,600. Write up the Ledger Accounts of the two investments for the year 2011. J Reply

On October 1, Year 1 Hernandez Company loaned $60,000 cash to Acosta Company. The one-year note carried a 6% rate of interest. Which of the following shows how the December 31, Year 1 recognition of accrued interest will affect Hernandez's financial statements? Assets A. 900 B. 900 C. 2,700 D. 2,700 Balance Sheet Liabilities + ΝΑ ΝΑ ΝΑ ΝΑ Multiple Choice Option A Option C Option D Option B Stockholders' Equity 900 900 2,700 2,700 Income Statement Revenue Expense = 900 ΝΑ 900 2,700 ΝΑ ΝΑ 2,700 ΝΑ Net Income 900 900 2,700 2,700 Statement of Cash Flows 900 IA ΝΑ 2,700 IA ΝΑ

Horizons plc had the following bank loans outstanding during the whole of 20X8 which form the company's general borrowings for the year: 10% loan repayable 20X9 8% loan repayable 20Y2 Select one: O a. £850,000 O b. £892,500 O c. £305,625 d. £500,000 e. £541,875 O f. £425,000 £m 25 75 Horizons plc began construction of a qualifying asset on 1 May 20X8 and withdrew funds of £4.5 million on that date to fund construction. On 1 September 20X8 an additional £6 million was withdrawn for the same purpose. Calculate the borrowing costs which can be capitalised in respect of this project for the year ended 31 December 20X8.

The following investment account was taken from the general ledger of One Dream Investment Company:   Debt Investments - Fulfilled Dream 6% bonds (2,000,000 face value, due December 31, 2027)  Date  PR  Debit  Credit  Balance January2, 2022 VR VR P1,812,300    P1,812,300 June 30, 2022 CRJ    60,000  1,752,300 Dec.  31,  2022 CRJ    60,000  1,692,300 Dec.  31, 2022     195,000  1,497,300   In the course of your examination, you obtained the following information:  Interest checks were received on June 30 and December 31 and were credited to the investment account.  One dream sold P200,000 of its investment on December 31, 2022 for P195,000. Effective interest rate on this investment, as computed by your audit staff, is 8%. (4% - semi annual) One Dream included this investment in a portfolio that is held to collect and for sale.  The fair value at December 31, 2022 and 2023 is 97.5 and 105, respectively.    How much is the gain or…

10 A dealer in securities has the following for the year 2018:  Sale of securities held for sale in the ordinary course        P4,000,000     Cost of securities held for sale in the ordinary course         2,500,000     Supplies expense, net of VAT                                                     300,000               Rent expense, net of VAT                                                          500,000  The OUTPUT VAT shall be:

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Horizons plc had the following bank loans outstanding during the whole of 20X8 which form the company’s general borrowings for the year:     £m 10% loan repayable 20X9 250  8% loan repayable 20Y2 750   Horizons plc began construction of a qualifying asset on 1 May 20X8 and withdrew funds of £45 million on that date to fund construction. On 1 September 20X8 an additional £60 million was withdrawn for the same purpose. Calculate the borrowing costs which can be capitalised in respect of this project for the year ended 31 December 20X8. Select one: a. £5,000,000 b. £4,250,000 c. £5,418,750 d. £850,000 e. £8,925,000 f. £3,056,250

On July 1, 20X4, ABC Corp sold goods and receive a 12% P400,000 note due on July 1, 20X7. What was the amount of interest income should be included in the 20X4 financial statement? 20,000 24,000 48,000 0

Horizons plc had the following bank loans outstanding during the whole of 20X8 which form the company’s general borrowings for the year:     £m 10% loan repayable 20X9 25  8% loan repayable 20Y2 75   Horizons plc began construction of a qualifying asset on 1 May 20X8 and withdrew funds of £4.5 million on that date to fund construction. On 1 September 20X8 an additional £6 million was withdrawn for the same purpose. Calculate the borrowing costs which can be capitalised in respect of this project for the year ended 31 December 20X8. a. £850,000 b. £425,000 c. £305,625 d. £892,500 e. £541,875 f. £500,000

K Dirk Ward borrowed $13,000 00 for investment purposes on May 16 on a demand note providing for a variable rate of interest and payment of any accrued interest on December 31. He paid $1000 on June 10, $200 on September 21, and $800 on November 16. How much is the accrued interest on December 31 if the rate of interest was 7% on May 16, 7.5% effective August 1, and 7.8% effective November 12 The accrued interest on December 31 is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed)