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FORMAT FOR BALANCE SHEET
The non current assets, current assets and current liabilities sections remain identical to those of a sole proprietorship. However, the “capital section will change to reflect the capital contribution by each partner..Example of a balance sheet where there are 3 partners A, B and C.
Cost (Shs)
Depreciation (Shs)
NBV (Shs)
Land & Buildings
X
Fixtures & Fittings
Plant & Machinery
Motor Vehicles
XX
Investments, goodwill etc
Inventory
Receivables
Less provision for bad and doubtful debts
(X)
Prepayments
Bank
Cash
Payables
Accruals
Working capital (C.A – C.L)
Financed by:
Capitals: A
B
C
Current A/Cs: A
Long term loans
Q. Show example on Ratio calculations? The current gearing of Springbank plc = 100 × (3·5m/4m) = 87·5% Total debt after issuing $3·4m of debt = 3·5m + 3·4m = $6·9m New le
Q. Calculate infant mortality rate? Mid year population 440000 Late fatal death 29 No. of live birth 5200 No. of infant death 423 No. of mate
On May 1, 2010, Ziek Corp. declared and issued a 10% common stock dividend. Prior to this dividend, Ziek had 100,000 shares of $1 par value common stock issued and outstanding. The
Q. Cost related issue of debt? Debt is cheaper in comparison of equity because debt is less risky from an investor point of view. This is for the reason that it is often secure
Long-term Debt 10% notes payable $1,000,000 7% convertible bonds payable 5,000,000 Discount
A company that uses the perpetual inventory system purchased $8,500 worth of inventory on September 25. Terms of the purchase were 2/10, n/30. The invoice was paid in full on Octob
Dividends During the year, the company paid a dividend of Sh.2 per share on the ordinary share s outstanding and Sh.1 on the preference shares outstanding. The company is now pr
5 accounting techniques
Q. What is Backup Withholding? Backup Withholding -Payers of interest, dividends and other reportable payments shouldwithhold income tax equal at a rate equal to the fourth low
1. According to the notes to the financial statements, what method or methods does the company use to depreciate "plant and equipment?" What rate does it use to depreciate plant an
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