Compute the net monetary result of A Ltd. As on 31.12.1998. The relevant data are given below: 1.1.98 31.12.98 $. $. Cash 20,000 20,000 Book Debts 31,000 35,000 Creditors 40,000 45,000 Loan 20,000 25,000 Retail price index numbers are: January 1, 1998: Average for the year : 31-Dec-98 300 250 400

Compute the net monetary result of A Ltd. As on 31.12.1998. The relevant data are given below: 1.1.98 31.12.98 $. $. Cash 20,000 20,000 Book Debts 31,000 35,000 Creditors 40,000 45,000 Loan 20,000 25,000 Retail price index numbers are: January 1, 1998: Average for the year : 31-Dec-98 300 250 400

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Memphis Co. reported the following information for 2021: Sales revenue: $780,000 Interest revenue on note receivable: $4,500 Cost of goods sold: $525,000 Operating expenses: $82,500 Gain on sale of equipment: $105,000 On a multiple-step income statement, Memphis would report other income of: Question 14 options: $109,500 $277,500 $4,500 $105,000 Super Ltd. reported the following select account balances in its trial balance as at December 31, 2020: Accounts receivable $ 150,000 Accounts payable 65,000 Accumulated depreciation 125,000 Cash 30,000 Equipment 250,000 Income tax payable 5,000 Inventory 95,000 Mortgage payable (in 5 years) 175,000 Common shares 200,000 What is Super Ltd.'s current ratio on December 31? Question 15 options: 3.93 1.63 4.23 1.46
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