Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
L&T is a company specialized in selling Phones. Its first month of operation is January 2016 in which the following transactions were undertaken
Jan1: issue capital stock of £330,000in cashJan2: Borrowed £230,000 from the bank at an annual interest rate of 5.5%Jan3: Purchased 100 Phones at £500 per PhoneJan4: Purchased Building at £60,000. The company paid £25,000 and agreed to pay the rest on a note payableJan8: Paid rent for the month of January at £1650Jan15: Received investment of £160,000 from the ownersJan20: Sold 47 phones at £1150 eachJan24: Purchased Furniture at £27,000. The company paid £12000 and agreed to pay the rest on accountJan27: Paid salaries at £5000Jan29: Paid one month of interestJan 30: Paid dividends of £900Jan 31: Paid income taxes at 11.3%
Required:
Problem 1: Preparation of a proper Income Statement and Balance sheet for L&T
The following information was extracted from the accounts of Sheridan Company at December, What would be the balance of retained earnings at December 31, 2020?
Byers was paid $100,000 cash to service the pencils. Complete the journal entry for the sale and the inventory.
The carrying amount of Accounts Receivable, Assuming the allowance method is used," What is the carrying amount of the Accounts Receivable after the write off?
FIN700–Financial Management - Calculate the net present value (NPV), that is, the net benefit or net loss in present value terms of the proposed purchase costs
Make the journal entry on the maturity date of the note. Note: L. Tron honoured the note. Record your answers on the Excel assignment sheet.
Discuss the importance of standard costing and understanding variances. If a supplier were to offer you cheaper goods (price and quality), what additional information would you need before making a decision to use the cheaper materials?
2 years and 3 months at an interest rate of 6% simple interest. How much will the person have in principal and interest at the end of the period?
You have been hired to evaluate for appraisal a parking garage with 196 spaces.Each space rents for $85 per month or $5 per day (both values are for weekday parking only). There are eight holidays (assume they are weekdays) per year that parking is e..
Public companies are required to publish annual financial statements. Suggest the major benefits of companies making financial statement information available to employees. Briefly explain generally accepted accounting principles (GAAP), and describe..
If Cosmo Ltd wants to pay $250 per month how many years will it take the company to pay back the loan? (Show answer correct to two decimal places.)
Discuss the pros and cons of these methods of financial statement analysis: ratio analysis, vertical analysis, and horizontal analysis
What is the equilibrium price? What is the equilibrium quantity? Using Excel and prices in the range of $1 to $10, generate the demand and supply schedules for the initial equations.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd