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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.
a machine is purchased on july 1 2009 for 181500. it has an expected useful life of 11 years and no salvage value.
It is estimated that 80% of the coupons will be presented for redemption. Sales for the first period were $700,000, and the coupons redeemed totaled 340,000.
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The price at which a stock can be sold depends upon a number of factors. Which statement below is not one of those factors?
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Straight-line depreciation for the same holding period would have been $300,000. What is the maximum unrecaptured § 1250 gain from this disposition after considering depreciation recapture?
Penny, Miesha, and Sabrina transfer property to Owl Corporation for 75% of its stock. Nancy, their attorney, receives 25% of the stock in Owl for legal services rendered in incorporating the business. What are the tax consequences of these transac..
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The company expects to incur $56,400 of total inspecting costs this year. How much of the inspecting costs should be allocated to the Beginner model using ABC costing?
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