Q-1) Ovais corp. purchased finished goods from Mozyesil. Market value of the finished goods are 10.000...

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Q-1) Ovais corp. purchased finished goods from Mozyesil. Market value of the finished goods are 10.000 TL + VAT (%18) but mozyesil applied special discount to Ovais and he sold all goods for 8.000 TL + VAT (%18). Payment done in advance by Ovais. Please make required journalising according to GAAP and IFRS? Q-2) Following information are given about products A and B respectively in table below. Please make required recording? ITEMS Cost Amounts Estimated Selling Price Estimated Selling Ex (-) A B 100.000 100.000 108.000 118.000 15.000 15.000 Q-3) In January 2008, the machine was purchased for 400,000 TL in advance. The useful life of the machine has been determined as 10 years. If the sale price of the same machine at the end of 2013 is 700.000 TL, what is the replacement value and how is it accounted? Q-4) Ovais firm makes a forward contract with Yapıkredi Bank. He will buy 10 mn USD for 120 days later. Spot USD / TRL is currently traded at 18,5 and annual interest rate while annual TRL interest rate is %25. Please calculate estimated forward rate for price negotation. Q-1) Ovais corp. purchased finished goods from Mozyesil. Market value of the finished goods are 10.000 TL + VAT (%18) but mozyesil applied special discount to Ovais and he sold all goods for 8.000 TL + VAT (%18). Payment done in advance by Ovais. Please make required journalising according to GAAP and IFRS? Q-2) Following information are given about products A and B respectively in table below. Please make required recording? ITEMS Cost Amounts Estimated Selling Price Estimated Selling Ex (-) A B 100.000 100.000 108.000 118.000 15.000 15.000 Q-3) In January 2008, the machine was purchased for 400,000 TL in advance. The useful life of the machine has been determined as 10 years. If the sale price of the same machine at the end of 2013 is 700.000 TL, what is the replacement value and how is it accounted? Q-4) Ovais firm makes a forward contract with Yapıkredi Bank. He will buy 10 mn USD for 120 days later. Spot USD / TRL is currently traded at 18,5 and annual interest rate while annual TRL interest rate is %25. Please calculate estimated forward rate for price negotation.

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Q 1 O va is Corp Journal Entry Deb it Accounts Pay able 10 000 x 1 18 11 800 Credit Cash ... View the full answer