Question: This is a previous exam that I'm not able to solve. Your help would be much appreciated! The following information to prepare the financial balance

This is a previous exam that I'm not able to solve.

Your help would be much appreciated! The following information to prepare the

This is a previous exam that I'm not able to solve. Your help would be much appreciated!

The following information to prepare the financial balance sheet for the company as at 31/12/2012: 1- The value of " goodwill " account: increased by a rate of 25% as a result of company development activities. 2- "Research and development expenses" account: include a charge of LBP 8,000,000 for a project not suitable for sale any more. 3- "Lands" account: value decreases by a rate of 10% due to temporary work beside the company building. 4- The real value of "Industrial equipment and tools" account: must be less than 20% of its net book value due to extra usage. 5- "Transport equipment" account: there is an equipment purchased on 1/9/2010 amounted to LBP 20,000,000 and depreciated at a rate of 25% but the rate that reflect the economic situation is 12%. 6- " Advance payment-tangible fixed assets" account : that shown in the balance sheet related to a fixed assets purchased; the company received and register the invoice without reconciling the advance payment account. 7- The " Stock and in progress" account: include 25% strategic stock. 8- " Advance paid to personnel" account: include an amount of LBP 4,000,000 given to one of the employees to purchase a house and this amount will be settled in 2015. 9- "Debtors non-operating" account: include an amount of LBP 2,000,000 to one of the clients. 10 -" Security placement " account: are shares bought from one of anonymous company who's heavily trading in the stock market. 11 - " Charges recorded in advance" account: include LBP 4,000,000 interest on loan obtained by the company. 12- " Loan from financial institution" account: include an amount of LBP 4,000,000 due on march 2013. 13- " Revenue recorded in advance " account: considered operating. Required

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Can you please help me with the attachment file for my final exam? Thank you! Complete the following exam by answering the questions and compiling your answers into a word-processing document. When...

1)Which of the following characteristics are essential to a proper accounting system? a)Integrity b)Independence c)Objectivity d)A & B e)B & C f)A, B & C 2)Which financial statement measures...

Hi I need help on what is the answer on this activity. Below are the questions and answers with explanation is optional. I hope that you can help me and surely I will give you full positive feedbacks...

Would someone be able to help me with my accounting final part 2. I'm having trouble starting the paper and its due tomorrow. here are the documents related to the assignment. plus not to make...

Credit 49,000 The unadjusted trial balance of the general ledger of Mosaic Stone Co. at 12/31/18 is! Unadjusted Trial Balance December 31, 2018 Account Debit Cash 1,775,000 Accounts Receivable...

I need help with doing this assignment. I am having a hard time solving this problem? The following critical elements must be addressed when performing the Budget Variance Analysis using the Budget...

The Info for the question is the first 3 Pics. The last 4 pics are spread sheets that need to be filled out. Of the four the 2nd and 3rd one are filled out but have a few wrong answers. The 1st and...

Please help me with question 4.31 in wiley for fin3400 help explain how to get answer. Problem 4.30 Blackwell Automotive's balance sheet at the end of its most recent fiscal year shows the following...

Ive tried to do this on scratch paper and Its throwin me through a loop. Help would be much appreciated Required information [The following information applies to the questions displayed below.)...

An Introduction to Financial Statement Information Prodigy Systems Led ( PSL ) was created by Jesse Gemmel, a third - year undergraduate business student. Unable to find work in a business setting....

You are given the task of forecasting demand for the swim outfit collection of Sunny Wear Inc. As anticipated, you observe that demand is highly seasonal. The following table gives the quarterly...

A saturated soil used to determine the shrinkage limit has initial volume Vi = 20.2 cm3, final volume Vf = 14.3 cm3, mass of wet soil M1 = 34 g, and mass of dry soil M2 = 24 g. Determine the...

When evaluating the cash flows from an investment, a reduction in cash outflows is treated as the same as an increase in cash inflows. Question content area bottom Part 1 True False

last two options for the multiple choice are : performance management development A construction equipment manufacturer, Roswell Corporation, is focusing on becoming a leader in sustainability in...

Spotlight Rsums is a complete rsum-writing service that assists in preparing rsums, applications to graduate schools, and cover letters. Scott Regis, the owner of Spotlight Rsums, has hired you to...

Write a letter asking them to refund your $1,500 down payment.

Technology. You are currently employed by the City of Silver Springs in the accounting department. One of your colleagues, Paul Armstrong, was recently diagnosed with a brain tumor and underwent...