SAMPLE PAPER- 4 (solved) ACCOUNTANCY Class – XII Time allowed: 3 hours General Instructions: 1. This question paper contains Two parts A& B. 2. Both the parts are compulsory for all. 3. All parts of questions should be attempted at one place. 4. Marks are given at the end of each question. Question Paper Designed by : Dr. Vinod Kumar Book recommended by author : ULTIMATE BOOK OF ACCOUNTANCY Publisher : Vishwas Publications (09216629576, 09256657505) Dr. Vinod Kumar is Author of Ultimate Book of
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University of San Jose – Recoletos Junior Philippine Institute of Accountants Quizbowlers’ Society 2014-2015 TUTORIALS IN ACCOUNTING 2 PARTNERSHIP DISSOLUTION 1. Once and Twice are partners with a capital balances of P250,000 and P200,000, sharing profits and losses 70:30. The partners are admitting Thrice as a new partner with a 25% interest for his investment of P180,000. Before admission, Once and Twice will revalue the partnership’s assets. If the net increase in the partnership’s assets
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results. Stacy-Ann Kelly owns and operates Kelly’s Furniture Emporium, Inc. The balance sheet totals for assets, liabilities, and stockholders’ equity at August 1, 2013, are as indicated. Described here are several transaction entered into by the company throughout the month of August. Required: a. Indicate the amount and effect (+ or -) of each transaction on total assets, total liabilities, and total stockholder’s equity, and then compute the new totals for each category. The first transaction is
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As many of you heard that, the Chief Financial Officer (CFO) for XYZ Construction Inc. has been promoted to the newly created position of Vice President of Overseas Operation. The CFO’s absence leaves a void in the knowledge base of the owners group regarding several key financial and accounting principles. There will be all hands training meeting on May 25 @ 1100 local time, expected to last until 1300 and will be held at the Denver Embassy Suites conference room. The hotel will provide the video
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Running head: Business Plan Part I- Business Vision Business Plan Part I- Business Vision Business Vision and Values As a new hire for a new startup company I have been tasked with recognizing and exploring a new business opportunity of creating a new product or service for my company. This new business opportunity will ultimately be presented to an executive team in a venture capital group for possible funding and execution. In exploring new opportunities, I believe
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accounts receivable, inventories and equipment. 3. It’s important you get independent advice to help you find the best way to deal with your debts. TRUE 4. If assets equal 100,000 and liabilities equal 25,000, then owner's equity is 125,000. Wrong Since assets (100,000) must equal liabilities (25,000) plus owner’s equity, owner’s equity is 75,000 5. Credits increase asset and expense accounts. Wrong It’s debits that increase assets and expense accounts. 6. Priority debts are
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Final Research Assignment Investment Opportunity/Kinder Morgan Company Strayer University: FIN 534 Professor: Stevens 1, December 2014 The Investment company that I am recommending is Kinder Morgan. The company is known worldwide for their many different sub companies they have around the world. Kinder Morgan is the largest energy infrastructure company in North America. We own an interest in or operate approximately 80,000 miles of pipelines and 180 terminals. Our pipelines transport natural
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margins are both shrinking over this time period 8. Are the firm’s operating expenses increasing or decreasing? The operating expenses are increasing over the period 9. Is the firm heavily in debt? The percentage of total assets to total liabilities lies within a 2 percent range for the period, from 54.53% - 56.16%, and the ratio of long term debt to total assets is fairly steady in the range of 6.66 – 6.70, so the company couldn’t be said to be heavily in debt 10. Does it have assets to
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and $6000 from owners. The company immediately purchased land that cost $9000. Required a. Record the events under an accounting equation. Assets = Liabilities + Capital | Assets |= | Liabilities |+ | Capital | |Cash |Land | | Creditors | |
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Motors. I will try to do my best to compare them to one another and point out the highlights of both companies. First off, Ford. Ford had only 9.15% of its liabilities paid out to stockholders in 2012, which was similar to its 2011 percentage of liabilities to stockholders in 2011 with a rating of 9.2%. In 2010, only .41% of its liabilities were stockholders shares of stock. Common stock in the years 2010 to 2012 were all about the same. The balance sheet shows that anywhere from 38,000 to 40
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