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Give journal entries to record the following transactions.
Issued on par 250, 8% preference shares of Rs.100 each.
Issued 500 ordinary shares of Rs.100 each at Rs. 120 all amountreceived in cash.
Purchased building costing Rs.165000 andissued 1000 8% preference shared of Rs.100 each for fullconsideration.
Issued 5000 ordinary shares of Rs.10 each to promoters asremuneration for their services.
On this date the banks prime rate was 11%. The first payment for interst and principle was made on September 1 2011. At december 31 2001, Herman should record accured insterst payable.
An organization's budgets will often be prepared to cover
John Brown is a PA, but not a partner, with three years of professional experience with lyle and lyle, public accountants, a one-office public accountanting firm. he owns 25 shares of stock in an audit client of the firm,but he does not take part ..
on january 1, 2011, Sesame revised these estimates to a total useful life of 4 years and a salvage value of $10,000. Prepare Sesame's enty to record 2011 depreciation expense.
Prepare journal entries that should be recorded as a result of each of the above contingencies. If no journal entry is needed, briefly explain why.
On 1 July 2010, Cherry Ltd acquired an item of plant for $31 864. On the same date, Cherry Ltd entered into a lease agreement with Hazel Ltd in relation to the assets. According to the lease agreement, Hazel Ltd agreed to pay $ 12 000 immediately,..
How much taxable income, in total, must the shareholders of the corporation report on their 2010 tax returns?
Journalize the entries to record the liquidation out lined below, using Assets as the account title for the noncash assets and Liabilities as the account title for all creditors' claims.
The following information is available for completed Job No. 402: Direct materials, $25,000 direct labor, $35,000 manufacturing overhead applied, $20,000 units produced, 8,000 units units sold, 6,000 units. The cost of the finished goods on hand f..
A golfer's tee shot follows a path given by y = 64t - 16t^2, where y is the height of the ball (in feet) after t seconds of flight. Halfway through its flight, the golf ball reaches the highest point of its trajectory. How high is that?
Determine the equivalent units in process for direct materials and conversion costs, assuming there was no beginning inventory.
a prepare income statements segmented by products. Include a column for the entire firm in the statement. b. if ellie manufactureing eliminates product B, what would be the impact on company profits? c. ellie is considering the purchase of automated ..
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