(a) A company issued Rs. 500,000 6% debenture at par redeemable at par. (b) A company issued Rs. 500,000 6% debenture at 10% discount redeemable at par. (c) A company issued Rs. 500,000 6% debenture at 5% premium redeemable at par. (d) A company issued Rs. 500,000 6% debenture at par redeemable at 10% premium. (e) A company issued Rs. 500,000 6% debenture at 10% discount redeemable at 5% premium.
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Q.No.2
What
(a) A company issued Rs. 500,000 6% debenture at par redeemable at par.
(b) A company issued Rs. 500,000 6% debenture at 10% discount redeemable at par.
(c) A company issued Rs. 500,000 6% debenture at 5% premium redeemable at par.
(d) A company issued Rs. 500,000 6% debenture at par redeemable at 10% premium.
(e) A company issued Rs. 500,000 6% debenture at 10% discount redeemable at 5% premium.
Note: My last four digits of arid no is 4221
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- 14 - Entity A sold its registered $ 1000 at a rate of 4.60 TL at a rate of 4.65 TL. Which of the following accounts is correct in the journal entry to be made?A) 100 02 DOLLAR CASH ACCOUNT RECEIVABLE 4600 TLB) NoneC) 656 EXCHANGE LOSS ACCOUNT DEBTED 150 TLD) 100 01 TL CASH ACCOUNT RECEIVABLE 4.650 TL E) BORROWED 646 EXCHANGE PROFIT ACCOUNT 50 TLQuestion No.3 Al-Rehm an Company Limited is register ed with an author ized capital of Rs.2,000,000 divided into 200,000 ar dinary shar e of Rs.10 cach. The following balances ea tracted from the books of the com pany on December 31, 2019: Debit Credit Title of Account Rs. Rs. Cash at Bank Accounts Receivable Allowance for Bad Debts Merchandise Inventar y (Beg) Machiner y Accum ulated Depreciation (Machinery) Accounts Payable Martgage Notes Payable Share Capital Retained Ear ning Sales Pur chases Salaries Expense Transportation-in Rent Expense Auditar's Fee 20,000 55,000 4,500 11,250 1,250,000 150,000 45,000 300,000 750,000 217,750 375,000 375,000 37,500 45,000 41,000 7,500 1,842,250 1,842,250 Total Data for Adjustment: I. Provide Depreciation on Machiner y for the year Rs.50,000 II. Prepaid Salaries Rs750 III.Salaries Payable Rs.500 IV.Mer chandise Inventar y Rs 180,000 V. Appropriate Rs20,000 for Building Extension and Rs45,000 far Contingencies Prepaid Salar ies 750 Dr Salaries Exp…On March 30, 20XX, the company issued ordinary share capital worth of P 500,000, payment received and deposited on its GBP Bank Account 1 Dr. GBP Bank Account 1P 500,000 Cr. Ordinary Share CapitalP 500,000 On April 15 , 20XX, the company recorded a Salary Expense worth of P 250,000, paid for through the company’s GBP Bank Account 1. Dr. Salaries and WagesP 250,000 Cr. GBP Bank Account 1P 250,000 On April 10,20XX, the company will pay a total of P 15,000 from the Petty Cash fund for transportation related expenses. This transaction is still subject to supervisor’s approval. Dr. Travel Costs – OtherP 15,000 Cr. Petty Cash FundP 15,000 1. GENERATE THE GENERAL LEDGER AS OF THE DATE OF THE LATEST TRANSACTION . 2. GENERATE THE BALANCE SHEET AS OF THE END OF THE YEAR 3. GENERATE THE INCOME STATEMENT AS OF THE END OF THE YEAR 4. PERFORM PERIOD END CLOSING FOR THE YEAR 20XX
- Question No.2 Wahid Company Limited is registered with an authorized capital of 2,000,000 divided into ordinary share of Rs.10 each. The company books showed the following balances on December 31, 2019 are as follows: Debit Credit Title of Account Rs. Rs. Cash at Bank Accounts Rec eivable Allowance for Bad Debts Prepaid Rent Merchandise Inventory (Beg) Machinery Accumulated Depreciation |(Machinery) Accounts Payable Accrued Rent Mortgage Notes Payable Share Capital Retained Earning 8,000 26,000 2,000 400 5,200 560,000 68,000 28,000 1,000 133,400 380,000 48,700 180,000 Sales Purchases Salaries Expense Transportation-in Rent Expense Auditor's Fee 180,000 22,000 18,000 17,000 4,500 841,100 841,100 Total Data for Adjustment: I. Rent Payable Rs.100 II. Merchandise Inventory Rs.88,000 III.Depreciation Expense for the year Rs.16,000 IV.Appropriate Rs, 8,000 for Plant Extension and Rs. 18,000 for Contingencies Required: A. Prepare Income Statement B. Prepare Statement of Retained Earning C.…6. Record the following transactions in Tally Prime Date Amount (in RO) 2021 Jan 1 Cash A/C 42,000 50,000 Building A/C Machinery A/C Orix trading LLC A/C Loan from Bank A/C Capital A/C 25,000 15,000 (Dr) 12,000 ? Deposited into Bank Purchased goods and paid by cheque Purchased goods from Musandam Trading Co. and got 5% Feb 2 20,000 7,500 6,000 Mar 1 Mar 2 trade discount Brought additional capital into business Received from Orix Trading LLC in full settlement by cheque Goods distributed as free samples Cash purchases Mar 31 25,000 Apr 1 Apr 2 Мay 1 May 2 14,000 2,000 3,500 9,000 Sold goods to Oman International Trading LLC and offered 7% trade discount May 31 Goods returned to Musandam Trading Co. Goods taken by proprietor for personal use 1,000 June 1 2,000 Paid Insurance premium Purchased Furniture from Taghleef Industrial Company Sold goods to Tomoor Oman and offered 10% cash June 2 250 July 1 July 2 20,000 10,000 discount July 31 Cash Sales 6,000 2,500 1,200 3,000 4,000 Aug 1 Aug 2…Exercise No. (7): From the following ledger balances of Nizwa Bank as on 31st Dec.2016, prepare income statement and Balance Sheet OMR OMR ('000) 3,250 | Share Capital 17,750 Statutory Reserves 38,750 Profit (previous year) ('000) Fixed Deposit Savings Deposit 2,500 1,500 Current Accounts 100 Money at call and short notice 2,400 | Bills Payable 15,500 Sundry Creditors 1,000 | General reserve 4,000 Investments 250 Interest accrued 700 General Expenses 50 Borrowed from other banks 4,800 Dividend 250 Non-Banking assets 1,200 Cash in hand 750 Interest and Discount 3,250 6,500 | Unclaimed Dividends 7,050 | Loans, Overdrafts 5,200 Payment to Employees Premises 50 Cash at Central Bank 35,000 Cash at Other Banks 400 Bills Discounted and Deposits from other banks 1.000 | Purchased 2,500 Rent, taxes 100 Additional Information: Rebate on bills discounted to OMR 25 а. b. Allow 5% depreciation on Premises on cost. c. Provide OMR 250 for provision for doubtful debts с.
- 4 Assume an oill well cost Ş SOOL000 an is estimated to hold 50,000 barrels of oil There is no residual value. 2000 barrels are extracted during the year. Genena Joumd Du Account Tiees and Explatten Debit Credie 5. Com pay A has excess cash to invest and pays $ S0.000 to buy $ 80,000 tace value, 5 teve year Com pany B bonds on February 10, 2021 Com painy A plans to hold the bords until matrity. Genena Jaum Credit Account Tieex and EeolanionPOLKADOT Company y disclosed the following information on December 31, 2021: Accrued rent expense 54,000 Share dividends payable 750,000 Accounts receivable, after deducting credit balances of customers’ accounts amounting to ₱42, 500 179,300 Estimated premium liability 65,800 Cash in bank, net of bank overdraft of ₱22,650 481,900 Deferred tax liability 215,500 Accounts payable, net of debit balances in suppliers’ accounts amounting to ₱8,310 95,420 Unearned interest income 225,000 Mortgage payable, issued on March 1, 2012, maturing after 10 years 1,500,000 Notes payable due to bank, 12% interest bearing note payable yearly, issued on August 31, 2021, maturing on August 31, 2022 1,000,000 Cash dividends payable 520,000 SSS payable 57,100 Serial bonds payable in 5 yearly installment of ₱250,000 payable every October 31 1,250,000 Estimated damages because of a supposed unsatisfactory performance on a contract, a possible obligation 75,000 Income tax payable…Complete journal entries to record the following transactions: Mar 8 Received a $33,000, 5%, 60-day note on the account of A Company 31 Received an $80,000, 7%, 90-day note on the account of B Company May 7 Received payment of $33,275 on the note for A Company 16 Received a $72,000, 7%, 90-day note on account of C Company Jun 11 Received a $36,000, 6%, 45-day note on account of D Company 29 Received payment of $81,400 on the note for B Company Jul 26 Received payment of $36,720 on the note for D Company Aug 4 Received a $48,000, 9 %, 120-day note on account of E Company 14 Received payment of $73,260 on the note for C Company Dec 2 Received payment of $49,440 on note for E Company You can type your answers in a Word document to upload, you can use an Excel Spreadsheet and then upload, or you can type in the answers as a text submission below.
- 1. PGold Company provided the following trial balance on December 2020: Total credits amounting to P3,000,000 as follows; Bank overdraft P100,000, Accounts Payable P200,000, Accrued expenses P150,000, Ordinary share capital P1,500,000, Share premium P250,000, Retained earnings P800,000. Total debits of P3,000,000 composed the following; Accounts receivable P350,000, Inventory P600,000, Prepaid expenses P100,000, Land held for sale P1,000,000, Property, plant & equipment P950,000. Additional information: Checks amounting to 300,000 were written to vendors and recorded on December 29, 2020 resulting in a cash overdraft of P100,000. The checks were mailed on January 15, 2021. Land held for resale was sold for cash on January 31, 2021. The entity issued the financial statements on March 31, 2021. What total amount should be reported as as current assets?The accounts below were taken from the unadjusted trial balance of a company as at December 31, 2021:Accounts receivable 200,000Sinking fund assets 20,000Allowance for doubtful accounts 50,000Cash in bank 894,000Investment in shares, at cost 56,000Interest payable 15,000Notes receivable 100,000Mortgage payable 1,200,000Investment in associate 35,000 Merchandise inventory 123,000Accounts payable 110,000Notes payable 400,000Employee’s withholding taxes payable 15,000Bonds payable 500,000Sales commissions payable 10,000Share dividends payable 18,000 Additional information:a. Included in the accounts receivable is P60,000 due from a customer with special terms requiring the customer to pay in an equal semi-annual installment of P10,000 every end of June and December. In addition, accounts receivable was net of customers’ deposit of P5,000.b. Cash in bank includes P10,000 compensating balance legally restricted for short-term borrowing. In addition, a bank overdraft of P15,000…1. PGold Company provided the following trial balance on December 2020: Total credits amounting to P3,000,000 as follows; Bank overdraft P100,000, Accounts Payable P200,000, Accrued expenses P150,000, Ordinary share capital P1,500,000, Share premium P250,000, Retained earnings P800,000. Total debits of P3,000,000 composed the following; Accounts receivable P350,000, Inventory P600,000, Prepaid expenses P100,000, Land held for sale P1,000,000, Property, plant & equipment P950,000. Additional information: Checks amounting to 300,000 were written to vendors and recorded on December 29, 2020 resulting in a cash overdraft of P100,000. The checks were mailed on January 15, 2021. Land held for resale was sold for cash on January 31, 2021. The entity issued the financial statements on March 31, 2021. What is the total shareholders equity?