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Problem a) A company purchased a salt mine on Jan 1 2019 for Rs 880,000,000. The estimated capacity of the mine is 4,500,000 tons of salt and the estimated salvage value is zero. The company incurred additional Rs 20,000,000 on development of mine for extraction purposes. They had extracted 500,000 tons of salt from the mine up to Jan 31, 2019 and sold all but 100,000 tons of the salt extracted from the mine, with in Jan 2019. Calculate the depletion expense on the mine for the month ending Jan 31, 2019 and0 prepare necessary General journal and adjusting entries.
Problem b) What is the difference between Revenue and capital expenditure?
Problem c) Classify the following as Capital or revenue expenditure
i) Whitewash a house at the time of construction ii) Changing head light of a vehicle iii) Overhauling engine of a vehicle due to which life of vehicle increased.
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
Prepare the journal entry to record the acquisition of the assets.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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