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Q NO.1:- From the following you are required to comment a upon the long term as well as short term solvency of the company:
Liabilities
Rs.
Assets
Share Capital
5,00,000
Fixed Assets
6,00,000
Long term liabilities
2,50,000
Liquid Assets
3,00000
Current liabilities
2,500,000
Stock In Trade
1,00,000
Total
10,00,000
Calculate debt-equity ratio, fixed assets to total assets ratio,current ratio and Assets ratio.
Q NO.2: Tariq and Co. signed an operating leasecontract effective for five year from January 1, 2008. He is to payRs.18000 at the start of the lease plus Rs.4000 monthly rentalthrough out the lease term. During January 2008, He spend Rs.10000for renovating the leased asset and also made additionalconstruction in the building with leaser's consent at a costof Rs.50000 , the estimated life of the additional construction is10 years, and its residual value is zero. The lease contract doesnot contain renewal option and may be terminated by the lessee with3 months notice.
You are required to give general entries inthe books of Tariq & Co. to reflect the renovation expenses,and rental payments for lease period.
HD determined that it was more likely than not that 30% of the deferred tax asset ultimately would not be realized. HD made no estimated tax payments during 2011. What amount should HD report as income tax expense in its 2011 income statement?
Compare the advantages and disadvantages of absorption or traditional costing and activity based costing
on may 1 2011 newby corp. issued 600000 9 5-year bonds at face value. the bonds were dated may 1 2011 and pay interest
Sierra and Jenson formed a partnership. Sierra contributed $25,000 cash and accounts receivable worth $11,000. Jenson's investment included cash $5,000; inventory, $18,000; and supplies, $1,000.
the following are summary cash flow statements for three roughly equal sized companies millionsnet cash flows from
Pardee Company plans to sell 12,000 units during the month of August. If the company has 2,500 units on hand at the start of the month, and plans to have 2,000 units on hand at the end of the month, how many units must be produced during the month..
Lease or buy: I can lease a building for $10,000 or buy for $800,000. The weighted average cost of capital is 12%. Which is cheaper buy or lease?
Discuss the nature of preventive controls that may be designed into an AIS. Give an example and explain how it may prevent fraud or abuse of the system.
Assume the following adjustment data. 1. Advertising supplies on hand at 31 October total $1 000. 2. Expired insurance for the month is $100. 3. Depreciation for the month is $50.
There were no sales from Pot to Skillet.Intra-entity sales had the same markup as sales to outsiders. Pot still had40% of the intra-entity sales as inventory at the end of 2011. What areconsolidated sales and cost of goods sold for 2011?
Assuming no changes are expected for the other food items, the differential operating profit for 2006 is:
a. Organize the information in accounts under an accounting equation. b. Prepare an income statement, balance sheet, and statement of cash flows for 2010. c. Write a memo discussing the advantages to a business of arranging a line of credit.
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