Ignore currency symbols. Ignore workings. Show ALL amounts as positive whole numbers. Failure to follow these instructions may result in lost marks. ABC Ltd ("ABC") is a company which sells widgets to the general public. ABC's financial year- end is 30 June. The following additional information was provided to you: 1. The number of issued shares at 1 July 2020 amounted to 13702 and was issued at an average price of 25 per share. 2. The opening balance of Retained Earnings amounted to 850667 3. On 1 September 2020, ABC issued 9225 number of shares to the public at 67 per share. 4. Share issue costs amounted to 8709 5. On 1 December 2020, ABC declared an interim dividend of 12747. The payment was made on 15 January 2021. 6. On 30 June 2021, a final dividend of 39506 was declared. 7. Profit before tax amounted to 1919349 and taxable income was 95% of profit before tax. You are required to calculate the following balances as at 30 June 2021: 1. Share Capital closing 2. Total dividend for the year 3. Retained Earnings closing balance

Ignore currency symbols. Ignore workings. Show ALL amounts as positive whole numbers. Failure to follow these instructions may result in lost marks. ABC Ltd ("ABC") is a company which sells widgets to the general public. ABC's financial year- end is 30 June. The following additional information was provided to you: 1. The number of issued shares at 1 July 2020 amounted to 13702 and was issued at an average price of 25 per share. 2. The opening balance of Retained Earnings amounted to 850667 3. On 1 September 2020, ABC issued 9225 number of shares to the public at 67 per share. 4. Share issue costs amounted to 8709 5. On 1 December 2020, ABC declared an interim dividend of 12747. The payment was made on 15 January 2021. 6. On 30 June 2021, a final dividend of 39506 was declared. 7. Profit before tax amounted to 1919349 and taxable income was 95% of profit before tax. You are required to calculate the following balances as at 30 June 2021: 1. Share Capital closing 2. Total dividend for the year 3. Retained Earnings closing balance

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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Using the the following trial balance, with a closing stock of $1,000, prepare a Balance Sheet as at the month end date.
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Hello, I am having a hard time with the balance sheet and the current ratio & debt to assets ratio
Q1. From the following Trial Balance prepare Trading and Profit and Loss Account for the year ended 31" December, 2020 and Balance Sheet as on that date: Dr. (Rs.) Cr. (Rs.) Drawings 10,000 46,000 1,50,200 3,400 22,660 38,600 840 Stock on 01/01/2019 Purchases and Purchases Returns Cash in Hand 600 Bank Balance Freehold Premises Trade Expenses Printing, stationery and Advertising 1,640 280 Professional Charges Commission Received Investments as on I" Jan. @ 10% 3,300 4,000 Interest on above 200 Sundry Debtors and Creditors Wages Salaries 36,000 25,000 14,000 29,000 Capital Income Tax 1,14,000 1,600 6,300 Discount allowed and received 4,600 Sales Returns and Sales Bills Receivable /Bills Payable Office furniture Rent, Rates and Insurance Bad Debts Provisions Total Adjustments: 550 3,200 3,050 4,000 2,08,950 10,000 670 3,71,320 3,71,320 (a) Provide for wages Rs. 5,000. (b) Write Off 5% depreciation on frechold premises and 10% on office furmiture. (e) Insurance to the extent of Rs. 200…
6 Metlock, Inc. had the following transactions during the current period. Mar. 2 June 121 July 11 Nov. 28 Journalize the transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Date Mar 2 # Issued 4,200 shares of $5 par value common stock to attorneys in payment of a bill for $25,400 for services performed in helping the company to incorporate Issued 59,200 shares of $5 par value common stock for cash of $373,700. Issued 2,125 shares of $100 par value preferred stock for cash at $130 per share. Purchased 1,930 shares of treasury stock for $79,000 June 12: Debit Credit SUPPORT
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Now let us study an example that involves an opening Balance Sheet. opening ledgerrecording of transactions made defined period and balancing the ledgerperiod.accounts at the end of period: Majid Maingal had the following assets and liabilities on March 2005:Cash Hand Rs. 2.345: Cash at Bank Rs. 19,815; Stock RS. 46, 780;Debtors: Nasim Jamali RS. 21,730; Omar Baluchi Rs. 24,670; Furniture RS. 24,500;Creditors: Quetta Traders. Rs. 39.840; Loan from IDBP. Rs. 25,000 Draw up his opening balance sheet and calculate his capital. Open suitable ledger account post his opening Balance Sheet. Then record the following transaction in his ledger: 1. Bought goods on credit from Quetta Traders Rs. 13,5002. Paid carriage expenses in cash, Rs. 9503. Sold goods on credit to Nasim Jamali, Rs. 16,1004. Goods returned by Nasim Jamali Rs. 2,1005. Sold goods against cheque. Rs. 7,2506. Returned goods to Quetta Traders, Rs. 2,5007. Paid wages by cheque, Rs.1,7608. Sold goods against cash."Rs. 2,3909. Issued…
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Your assistant has gone to lunch before completing his task, which was to calculate the P/E ratio for Bollymonster Toys Inc. All he has left you is the following financial information. What is Bollymonster's P/E? (Round to one decimal place.) Bollymonster Toys Inc.Selected Financial Information Debt $2000 Cash $200 #Shares Outstanding 200 Stock Price $13.00 EV-to-EBITDA 7 Depreciation Expense $70 Interest Expense $110 Income Taxes $100