9. Prepare Income and Expenditure Account and Balance Sheet from the lowing Balance Sheet and Receipts and Payments Account. Assets Liabilities Rs. Rs. Capital fund Subscription received in advance Outstanding expenses Loan eg0 33,620 Building Outstanding subscriptions 600 Outstanding lockers rent 1,400 Cash 5,000 40,620 30,000 380 240 10,000 Jes40,620 Receipts and Payments Account For 2020 Receipts Balance 1-1-2020 Subscriptions 2019 2021 Rs. Payments Rs. 10,000 Expenses : 2019 200 2,100 Land 100 Interest 800 Misc, expenses 700 Balance 31-12-2020 4,000 17.900 1,200 2,000 4,000 400 2020 2022 Entrance fees Lockers rent 2,000 8,300 Mise, income

9. Prepare Income and Expenditure Account and Balance Sheet from the lowing Balance Sheet and Receipts and Payments Account. Assets Liabilities Rs. Rs. Capital fund Subscription received in advance Outstanding expenses Loan eg0 33,620 Building Outstanding subscriptions 600 Outstanding lockers rent 1,400 Cash 5,000 40,620 30,000 380 240 10,000 Jes40,620 Receipts and Payments Account For 2020 Receipts Balance 1-1-2020 Subscriptions 2019 2021 Rs. Payments Rs. 10,000 Expenses : 2019 200 2,100 Land 100 Interest 800 Misc, expenses 700 Balance 31-12-2020 4,000 17.900 1,200 2,000 4,000 400 2020 2022 Entrance fees Lockers rent 2,000 8,300 Mise, income

Financial Reporting, Financial Statement Analysis and Valuation

8th Edition

ISBN:9781285190907

Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Chapter12: Valuation: Cash-flow Based Approaches

Section: Chapter Questions

Problem 2BIC

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UTV Corp. have the following account balances for the year ended December 31, 2020:DEBIT BALANCESAmountCash and cash equivalents400,000Accounts receivable900,000Raw materials560,000Goods in process600,000Finished goods1,400,000Financial assets at FVOCI2,500,000Sinking fund200,000Land1,000,000Building6,000,000Plant and equipment2,400,000Patent800,000Goodwill1,400,000Unrealized loss – FVOCI100,000Prepaid benefit cost20,000Treasury shares at cost250,000TOTAL18,530,000 CREDIT BALANCESAmountBank overdraft100,000Due from an officer50,000Allowance for bad debts40,000Accumulated depreciation – building1,600,000Accumulated depreciation – plant and equipment400,000Notes payable, due June 30, 20211,300,000Notes payable, due June 30, 20222,100,000Accounts payable1,000,000Provision180,000Warranty liabilities80,000Income tax payable120,000Finance lease liability180,000Deferred tax liability280,000Actuarial gain300,000Revaluation surplus360,000Share capital6,000,000Share premium2,000,000Retained…
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