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!
You are working in Moon Ltd. The company issued on January 1, 2016, 2,00,000, 8% debentures of Rs. 100 each repayable at the end of 4 years at par. It was decided to create sinking fund for the redemption of debentures. The investments are expected to earn interest at 5% p.a. Reference to the sinking find table shows that Re. 0.23012 invested at 5% p.a. amounts to Re. 1 at the end of four years. On December 31, 2019, the investments were sold at Rs. 14500000 and the debentures were redeemed. Entries relating to interest and TDS on debentures may be ignored.
Question 1: Prepare the 8% Debentures Account; Sinking Fund Account; and Sinking Fund Investment Account in the books of Moon Limited for all the four years.
Question 2: The Moon Limited also took a loan of Rs. 40,00,000 from State Bank of India Limited on December 1, 2019 and deposited 4,00,000; 7% debentures of Rs. 10 each as collateral security. Give the accounting treatment for issue of 7% debentures as collateral security. Explain briefly
What percentage growth in current liabilities is required to support the growth in sales under the percent-of-sales forecasting method?
Amy Monroe wants to create a fund today that will enable her to withdraw $25,780 per year for 8 years, with the first withdrawal to take place 4 years from today. If the fund earns 10% interest, how much must Amy invest today?
Shaw's property, plant and equipment exceeded its carrying amount by $400,000. In its November 30, year 1 consolidated balance sheet, what amount?
What are some of the differences between the models for law systems throughout the world? What are some of the benefits of each? What are some of the disadvantages of each?
Assuming that all of Fibre Technologies' internal production costs are avoidable if the company purchases rather than makes the latch, what would be the net annual cost advantage to purchasing the latches?
During 2011, Becky loans her brother Ken 5000, which he intends to use to establish a small business. Because Ken has no other assets and needs the cash to expand the business, the agreement provides that Ken will repay the debt if (and when) suffici..
Create an interpretative write up of your financial analysis, explaining trends and items of concern for the directors of FedEx. For each ratio, you should describe ratio, inform the directors about
Computation of machine hours for product mix and evaluate how the 3,600 hours of machine time should be allocated to the three products to provide the most profitable product mix.
As we move forward, and computer technology improves, we will have the ability to utilize programs to look for "red flags" or anomalies within a companies books.
Write a one-page action plan, in memorandum format, discussing how you would obtain an understanding of key business processes of a company that hires you to provide financial services. The memorandum should specify an industry, a product, and one se..
Management has offered to allow the prevention changes if all changes take place as anticipated and the amounts netted are less than the cost of the equipment. What is net impact of all the changes created by the preventive changes?
You are the newly hired accountant for The Gift Shop. The owner has just received the December 31, 2008 bank statement and has asked you to prepare the monthly bank reconciliation.
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