Subject : Advanced Accounting

ASSIGNMENT 2 PROBLEMSS Semen Altersand Defence Account LOD The Child December W Phoe Gund 225.000 Ale Acord Wall Bank N Paule More Clack Radio The SOOS SASES Alle cale with the coffee 500 expected to be. The wewe pledged security on the banker paye 2 or the late 55.000 is expected to the collected. There where we pledged security on the bushe 1. Finished and can be done con Selling spomes will be prime 155 of selling price Wodi proces is to become a dost of $10.000 which 519.000 represents the cost of the expecting price of the work in pecessarcomm 105 hinges of 19 fling price Las can be Prepaid expenses are fully covere The investment in each com of 100 es MINI Comp with current market value of $19.000 & Land is app 2000 and plotis 30.000. The land and plant andere con the web Accade coded interest theme payable $1.000 Required 1. Prepare a set of all, including a deficiency Compute the estimated dividend to be paid acred Statement of Allains and Deficiency Account LOD Preme Company has filas bankruptcy petition. To set bulance December 31, 2008), pre here 2500 0.000 7.000 Cash No Receive Acous Receivable (net) Inventures Finished Goods Work in Process Raw Materials Prepaid Expenses Investment in Stock Land Property and Equipment (net) Goodwill Total KO SLR 4. 12.000 100.000 10.000 SS.S00 Accounts Payable sau 000 Accrued Wages (all with priority 25.000 Bank Notes Payable 225.000 Mortgage Paule 150.000 Camo Stock INICO Retained Earnings deficis 26.500 Total S855500 The following additional informam silable. 1. All notes receivable with the exception of one for $2.500 are expected to the collected. The notes receivable are pledged as security in the bank notes payable. 2. Of the total accounts receivak, 555.000 as expected to be collected. The accounts recen able are also pledged security on the hunk motus payable 1 Finished goods can be sold at 30% above cost. Selling expenses will be approximately 155 of selling price Work in process is to be completed as an additional cont of $30.000, which $19.000 represents the cast of raw materials. The expected selling price of the work in process after completiomis 10% above cost with selling expenses of selling price Umund raw materials can be sold for SIK DOO 4. Prepud expenses are fully recoverable. 5. The nestment in ck consists of 100 shares of MRI may with value $19.000 & Landisappeared at $200,000, and plant and equipment apprend S. The land ad plamens collateral on the Meru corded intence the payable amounts to 10 Required A Prepare a statement of an including a deficiency 2. Compute themed dividend to be paid ASSIGNMENT 2 PROBLEMSS Semen Altersand Defence Account LOD The Child December W Phoe Gund 225.000 Ale Acord Wall Bank N Paule More Clack Radio The SOOS SASES Alle cale with the coffee 500 expected to be. The wewe pledged security on the banker paye 2 or the late 55.000 is expected to the collected. There where we pledged security on the bushe 1. Finished and can be done con Selling spomes will be prime 155 of selling price Wodi proces is to become a dost of $10.000 which 519.000 represents the cost of the expecting price of the work in pecessarcomm 105 hinges of 19 fling price Las can be Prepaid expenses are fully covere The investment in each com of 100 es MINI Comp with current market value of $19.000 & Land is app 2000 and plotis 30.000. The land and plant andere con the web Accade coded interest theme payable $1.000 Required 1. Prepare a set of all, including a deficiency Compute the estimated dividend to be paid acred Statement of Allains and Deficiency Account LOD Preme Company has filas bankruptcy petition. To set bulance December 31, 2008), pre here 2500 0.000 7.000 Cash No Receive Acous Receivable (net) Inventures Finished Goods Work in Process Raw Materials Prepaid Expenses Investment in Stock Land Property and Equipment (net) Goodwill Total KO SLR 4. 12.000 100.000 10.000 SS.S00 Accounts Payable sau 000 Accrued Wages (all with priority 25.000 Bank Notes Payable 225.000 Mortgage Paule 150.000 Camo Stock INICO Retained Earnings deficis 26.500 Total S855500 The following additional informam silable. 1. All notes receivable with the exception of one for $2.500 are expected to the collected. The notes receivable are pledged as security in the bank notes payable. 2. Of the total accounts receivak, 555.000 as expected to be collected. The accounts recen able are also pledged security on the hunk motus payable 1 Finished goods can be sold at 30% above cost. Selling expenses will be approximately 155 of selling price Work in process is to be completed as an additional cont of $30.000, which $19.000 represents the cast of raw materials. The expected selling price of the work in process after completiomis 10% above cost with selling expenses of selling price Umund raw materials can be sold for SIK DOO 4. Prepud expenses are fully recoverable. 5. The nestment in ck consists of 100 shares of MRI may with value $19.000 & Landisappeared at $200,000, and plant and equipment apprend S. The land ad plamens collateral on the Meru corded intence the payable amounts to 10 Required A Prepare a statement of an including a deficiency 2. Compute themed dividend to be paid