capital accounts at the beginning of each year and after char salaries at the rate of RO 8,000; RO 6,400; RO 5,600 per annun They employ a sales manager who is paid a salary of RO 4,800 pe one percent commission on total sales. The following Balances wa 31 December 2020. Capital Accounts S 23,200 K 13,600 P 12,800 | 6,440 300,000 13,600 9,240 25,200 38,000 2,400 12,800 6,400 Cash at Bank Purchase of Raw Material Discount Dr. Rent and Insurance Sundry Creditors Factory Expenses Office Expenses Sundry Debtors Furniture Telephone Sales Opening stock of Raw Material Carriage inwards Salaries (Including sales manager 14,400 salary) Repairs to Buildings Bad debts Carriage Outwards Vehicle Drawings 600 520,000 23,600 96,000 800 3,200 3,600 5,200 9,600 8,800 8,400 4,800 |4,400 5,600 7,320 19,200 K P Commission Received Vehicle running expenses Travelling expenses Advertising Expenses Plant and Machinery

Berlin AG started business one year ago and reported the following account balances sheet on 31 December 2019 as followed.     Cash                            100,000 PPE                              500,000 Note payable              120,000 Equity                          480,000     Berlin sold €100,000, five-year, 9% bonds on January 1, 2020, for €103,992.71. Interest is payable each January 1. The Note Payable is due on June 30, 2020, with a 10% interest rate.  Show the financial statement impact and prepare the journal entry on December 31, 2020, if bond Discount is amortized using the straigh-line amortization (show your calculation). Prepare the liability and equity section of the Berlin AG on December 31, 2020, based on this information (Show your calculation).

Calculating Accrued Interest Likert Company received a 90 day, six percent note receivable for $20,000 on November 1. How much interest income should be accrued on December 31? O$100 O$200 $300 O$400

On June 5 Glover Co. issued a $60,000, 6%, 120-day note payable to Jones Co. How much will Glover Co. have to pay at maturity? a. $63,600. b. $58,800. c. $60,000. d. $61,200.

Vikarmbhai

A $90,000 loan at 7.7% compounded semiannually requires monthly payments of $1,600. Calculate the final payment. O $1289.61 O $1291.47 O $1137.28 O $1165.92 O $1144.46

Beta's trial balance at 31-Dec-2020 is shown below £-Dr Cost of Sales/Sales 75,000 £-Cr 190,000 Office Rent 25,000 Plant Cost/Depreciation 200,000 120,000 Staff wages Cash at Bank Inventory £1NV Shares Retained earnings Receivables/Payables Totals 20,000 67,000 46,000 100,000 60,000 63,000 26,000 496,000 496,000 Notes 1) Wages of £4,000 were still owing at the year end. 2) Office rent of £5,000 had been prepaid. 3) 1:4 Rights Issue at £3.00 per share occurred at the year end. 4) Plant was revalued to £140,000 in Jan-20. The life was unchanged. 5) Non-current asset depreciation is 10% p.a. (straight line basis). 6) Company tax rates were 25%. Required: For Y/e Dec-20, prepare the following financial statements a) Financial Position Statement b) Income Statement c) Change in equity Statement

Loans Scotiabank approved a $230.000.00 line of credit for Buhler Industries at prime + 1%. It requires only the repayment of accrued interest on the 24th of each month which is automatically deducted from the checking account of Buhler Industries. Buhler took out an advance on December 6 for $160,000.00 and made a payment of $130,000.00 on January 16 The prime rate was 5.25% initially and increased to 6.5% on January 7. Complete the repayment schedule below by filling in the payment and principal amounts. Payment Date Balance Annual before Interest Transaction Rate Number of Days Interest Accrued Charged Interest (+) or Principal Balance after Advance Amount Transaction (-) Dec 6 $160,000.00 Dec 24 $160.000,00 $160,000.00 Jan 7 Jan 16 $160,000.00 $30,000.00 Jan 24 6.25% 18/365 7.5% 8/365 6.25% 14/365 $383.56 7.5% 9/365 $295.89 $679.45 $49.32 $728.77 $493.15 $493.15 $383.56 $160,000.00 $160,000.00 $30,000.00 $30,000.00 Notes You con can partial credit on this problem

On December 1, 2024 Modern Deing Products borrowed $97,000 on a 0% 10-year note with annual installment payments of $9 700 plus interest due on December 1 of each succeeding year On December 1. the principal was recorded as a What amount of the nole will be shown as portion of 20247 (Round your answer to nearest whole number) Nole Payable on OA $19,400 OB $15.500 OC. $9,700 OD $5,820

On January 1, a company agrees to pay $15,000 in six years. If the annual interest rate is 3% , determine how much cash the company can borrow with this agreement. (PV of $1. FV of $1. PVA of $1, and EVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.) Future Value 15,000 Table Factor 4 Amount Borrowed