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How will the following transactions affect the balance sheet equation? Also write the journal entriesfor them.
Issued capital of Rs.1 lakh
hired building worth Rs.2 lakhs on Lease..
Bought good worth 10 lakhs from Mr.X oncredit.
Sold 50% of the goods for cash at a profit of 30% on salesprice.
Took over B ltd. By issuing shares of Rs.100 atRs.120
Purchased machinery worth Rs.50000,life 5years.
Sold rest of the goods at 20% of cost price to Mr.Y oncredit.
Created a provision for bad debt account of2%.
Availed a loan of Rs.20000 from SBI to purchase newmachinery.
Bob owns a rental property that he bought several years ago for $260,000. He has taken depreciation on the house of $37,000 since buying it. e sells it in 2011 for $290,000. His selling expenses were $12,000 for the year. What was Bob's realized g..
What lump-sum will Henry have to invest now at 12% per year in order to have $2,000 at the end of each of the next two years?
What is her net capital gain or loss for 2010 and, if there is a net capital loss, how much of the loss and what type of loss carries over to 2011?
Examine how the SOX framework can prevent business model fraud in financial accounting and managerial accounting.
In 2010, Jonas built 10 miles of roads at a cost of $8,400 per mile. After the roads were completed, Jonas logged and sold 3,500 trees containing 880,000 board feet. (a) Determine the cost of timber sold related to depletion for 2010.
Trepid Manufacturing Company prepared a static budget of 40,000 direct labor hours, with estimated overhead costs of $200,000 for variable overhead and $60,000 for fixed overhead. Trepid then prepared a flexible budget at 38,000 labor hours. How m..
Tonga Industries reported the following: Net Sales $450,000 Cost of goods sold $360,000 Operating expenses $60,000 Tax Rate 40% The net income is:
What is the difference between collecting taxes and paying taxes?
Use information from the latest financial statement to compute operating leverage, ROI, EVA and another performance measure of Textron,
Amata paid $100 per share for her Kingbird Corporation's stock five (5) years ago. As a result of this transaction, which of the following is correct?
How is an auditors examination affected when a client has engaged in significant related party transactions? What measures should an auditor take to determine that such transactions have been properly recorded by the client?
What is inventory shrinkage? Please give an example or 2 and include how to minimumize shrinkage for that example.
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