5:30 PM←+91 94972 95529Today, 2:25 pm*lll88ILLUSTRATIONDuring the year ended 31st December 2011, Ivory Investments Ltd.purchased and sold investments as per details below:31st March-Purchased 10,000, 5 per cent Debentures of 100 each of Asbestos Ltd. at 97,brokerage and stamp duty amounting to 25,600. Interest is payable on the debentures on 1st Julyand 1st January.1st May-Purchased 10,000, 6 per cent Cumulative Preference Shares of 100 each of AndhraCements Ltd. at 95, brokerage and stamp duty being 24,200. Dividends are payable on 30thJune and 31st December.1st July-Sold * 6,00,000 Debentures of Asbestos Ltd. at 99 per hundred, less brokerage, etc.3,600.1st October-Purchased a further 4,000, 6 per cent, Cumulative Preference Shares of 100 ofAndhra Cements Ltd. at 90, brokerage and stamp duty being 8,600.Write up the Ledger Accounts of the two investments for the year 2011.JReply

To prepare the ledger accounts for the investments of Ivory Investments Ltd. during the year ending…

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Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter7: Receivables And Investments

Section: Chapter Questions

Problem 7.10E

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Need typing answer A Ltd. purchased a building worth CU 9.900.000 and issued 12% Debentures of CU 100 each at a premium of 10%. What will be the amount of premium?
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a7
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A-5
A company purchased machinery on December 31, 2026, paying P80,000 down and agreeing to pay the balance in 4 equal installments of P60,000 payable each December 31. Implicit in the purchase price is an assume interest of 12%. What is the carrying amount of the note at December 31, 2027?(PVF 5 decimal)
The following information pertains to a sale of real estate by South Co. to Nord. Co. on December 31, 2009: Carrying amount 4,000,000 Sales price: Cash 600,000 Purchase money mortgage 5,400,000 The mortgage is payable in nine annual installments of P600,000 beginning December 31, 2010, plus interest of 10%. The December 31, 2010 installment was paid as scheduled, together with interest of P540,000. South uses the cost recovery method to account for the sale. What amount of income should South recognize in 2010 from the real estate sale and its financing?
QUESTION 8 ABC Corporation invests $60,000 in a Certificate of Deposit (CD) paying annual interest of 2.5 percent. The company's Sept. 30 balance sheet shows an Interest Receivable asset of $625 related to this CD. How many months earlier did the company purchase (invest in) the CD? O a. 6 months O b.3 months O c. 4 months O d. 5 months
How do you solve 15-4 letter B. What steps are taken?
Epsilon Ltd had in issue R400 000 6% Debentures as at 31st March 2010 and on 31st Dec. 2010 redeemed R300 000 of these debentures at 10% premium. Interest on debentures were paid annually in arrears on 31st December. No debentures were issued newly. Calculate the interest expense in the year to 31st March 2011: R6 000 or R32 500 or R19 500 or R24 000

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