Reference no: EM132558222
Question a. If a company issues 10,000 shares for $12,000 having face value of $1 per share, how will this information be shown in owners' equity part of balance sheet?
Question b. The Trial Balance of Zaheer Limited does not agree for the year ended December 31, 2019. The company puts the difference in Suspense Account. After mentioning what type of error has been committed, rectify the following errors and prepare the Suspense Account to ascertain the original difference in the Trial Balance.
i. Amount paid for the installation of machinery Rs 10,000 was posted to the Repairs and Maintenance Account.
ii. Total of the Purchases Book, Rs 50,000, was not posted to the ledger.
iii. Goods returned to Sahil, Rs 3,000, were recorded in Sales Book.
iv. Salary paid to Zaheer, Rs 60,000, was debited to his personal account.
v. Depreciation expense of furniture, Rs 500, was not posted to the ledger.
|
Which could cause operating profit to be more than cash flow
: Which could cause operating profit to be more than cash flow from operations? An increase in the balance of accounts receivable over the period.
|
|
Determine the quantity variance
: Actual costs 2,750 lbs. @ $8.10. Determine the (a) quantity variance, (b) price variance, and (c) total direct materials cost variance
|
|
What is financial statements analysis
: What is financial statements analysis? Why the financial statements of the companies cannot be directly compared? Explain horizontal analysis
|
|
Big data analytics project
: Your team will select a big data analytics project that is introduced to an organization of your choice. What is the value of the project?
|
|
How will information be shown in owners equity
: If a company issues 10,000 shares for $12,000 having face value of $1 per share, how will this information be shown in owners' equity part of balance sheet?
|
|
What is daily balance sheet amount in accounts receivable
: If the company sells 2,280 each month at a price of $3, 380 each what is daily balance sheet amount in accounts receivable?
|
|
Think about the products-cell phone-automobile-clothing
: Think about the following products: cell phone, automobile, clothing, and social media site. Which aspects, technical or social, have the most weight?
|
|
How to prepare journal entries to record two transactions
: Prepare journal entries to record the two transactions, assuming that STAR-TRACK uses a periodic inventory system.Jan. 3. Sold a tracking system to Mystery.
|
|
What rate of interest will you receive on investment
: You are offered the opportunity to buy a note for $10,000. The note is certain to pay $2000 at the end of each of the next 15 years
|