The summarized trial balance of ABN Associates (Partnership Business) as at 31st March 2018 is given below. ABN Associates Trial Balance as at 31st March 2018 Rs. Dr Cr Partners' Capital Accounts Amal 500000 Bimal 400000 Nimal 400000 Partners' Current Accounts Amal 225000 Bimal 125000 Nimal 85000 Partners' loan Account - Nimal 200000 Property, Plant & Equipment 900000 Drawings Amal 275000 Bimal 175000 Sales 3800000 Inventory 585000 Cost of sales 1900000 Trade Recievables / Trade Payables 280000 150000 Cash at bank 500000 Operational Expenses 850000 5675000 5675000 Adjustments need to be made for the following 01.   Depreciation for the year was Rs. 180,000. 02.   The profit sharing ratio of Amal, Bimal and Nimal is 4 : 3 : 3 respectively. 03.   Interest is payable on Fixed Capital Accounts balances 10% per annum. 04.   No entries have been made for Inventory costing Rs. 120,000 taken by Amal. 05.   Interest on the partners loan is 20% per annum. 06.   Amal took away the other equipment for his own use on 31st March 2018 at a valuation of Rs. 100,000. The book value of the equipment is Rs. 50,000. Requirement Prepare the financial statements for a partnership including appropriation accounts

On August 1, AA and BB pooled their assets to form a partnership, with the firm to take over their business assets and assume the liabilities.  Partners capitals are to be based on net assets transferred after the following adjustment. Profit and loss are allocated equally.BB’s inventory is to be increased by P4,000; an allowance for doubtful accounts of P1,000 and P1,500 are to be set up in the books of AA and BB, respectively; and accounts payable of P4,000 is to be recognized in AA’s books.  The individual trial balances on August 1, before adjustments follows:AA BBAssets P75,000 P113,000Liabilities 5,000 34.500What is the capital of AA after the above adjustments?

15) The following is the trial balance of a trader as on 31st Chaitra, 2075: [4+6+5=15]Particulars Debit (Rs) Particulars Credit (Rs)Opening stock 1,40,000 Sales 3,00,000Salaries 51,000 Capital 4,00,000Drawing 50,000 12% Loan 50,000Building 2,00,000 Commission 3,000Furniture 30,000 Creditors 50,00010% Investment 50,000 Bills payable 134,000Purchases 2,50,000 Provision for bad debt 2,500Interest on loan 3,000    Wages 20,000    Insurance 5,000    Debtors 1,00,000    Cash balance 10,500    Bills receivable 30,000      9,39,500   9,39,500Additional information:a) Closing stock Rs. 1,50,000.b) Outstanding expenses: Wages Rs. 2,000, Salaries Rs. 9,000.c) Write off bad debts Rs. 10,000.d) Create provision for bad debts @ 5% on debtors.e) Insurance prepaid Rs. 2,500.f) Depreciate furniture by 10%.Required:Trading accountBalance sheetProfit and loss account

Using EDGAR (Electronic Data Gathering, Analysis, and Retrieval system), find the annual report (10-K) for Abercrombie & Fitch Company for the year ended February 1, 2020. Locate the “Consolidated Statements of Operations and Comprehensive Income” (income statement) and “Consolidated Balance Sheets.” You may also find the annual report at the company’s website.Required:1. From the equity section of the balance sheet, determine the par value of the company’s common stock. (Round your answer to 2 decimal places.)2. How many shares of common stock have been issued?3. What is the reported amount of common stock and additional paid-in capital (listed as “paid-in capital”)?4. Using your answers in requirements 2 and 3, determine the average issue price of common stock. (Round your answer to 2 decimal places.)5. How many shares of treasury stock is the company holding by the end of the most recent year?6. Using the balance of treasury stock and your answer in requirement 5, determine the average cost per share of treasury stock. (Round your answer to 2 decimal places.)7. If the company were to sell all of its treasury stock for $2,000,000 (in thousands), by how much would net income increase/decrease?

The trial balance extracted from the books ofTim on 31/12/2020 is as follows.Dr. Cr.Kshs. Kshs.Capital 217,500Land and building 150,000Equipment at cost 37,500Depreciation provision for equipment 15,000Fitting at cost 37,500Depreciation provision fittings 17,250Stock 21,375Salaries and wages 57,750Purchases 225,000Administrative expenses 30,000Cash in bank 37,500Cash at hand 7,500Debtors 37,500Creditors 21,375CUEA/ACAD/EXAMINATIONS/DIRECTORATE OF EXAMINATIONS & TIMETABLING Page 3ISO 9001:2015 Certified by the Kenya Bureau of Standards.Sales 375,000Carriage out ward 1,500Carriage inward 750Return inward 1,125Return out ward 1,400Discount allowed 2,250Discount received 1,225Bad debts written 1,500Total 648,750 848,750Additional informationi) Closing stock was valued at kshs30,000ii) Wages paid in advance shs2000iii) Administrative expenses outstanding shs 1500iv) Depreciation to be charged 10% on cost of equipment and 5% on cost of fittings.v) 5% provision for doubtful debts .Required;i) Trading profit and loss account for the period ending 31/12/20 (13 Marks)ii) Balance sheet as at 31/12/20

The following balances were obtained from the accounting records of SA Attorneys on 1 February 2022: ClientTrust creditorsaccountRClients account RA South2 000 Cr4 000 DrS Africa7 000 Cr3 000 Dr 9 000 Cr7 000 Dr The following transactions took place and were accounted for on 28 February 2022:  Client Trust receipts bankRFees charged at the end of the dayRA South5 0003 800S Africa04 600 5 0008 400 A pro-forma invoice was issued on 15 February 2022 to A South for R5 000. A South immediately paid the amount into the account of SA Attorneys.What will be the amount that must be transferred to the business bank account from the trust bank account from S Africa after all obligations to S Africa were met in full on 28 February 2022?Select one:a.R7 000b.R0 because an amount of R2 400 should be transferred to the clients account of S Africac.R3 000d.R3 800