Question

Accounting

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5. The firm purchased2.000 share certificates with nominal value of TL 4 for short term investment. It paid TL 7 for each. The commission which is 2% of total amount waspaid to the bank
6. The firm couldn’t collect note receivable TL 5.000 at the maturity date due to insolvency of debtor. Therefore, the firm decided to transfer it to the court for judgement after protesting in the notary(5 points).
7. The firm bought motor vehicle TL 36.000+VAT by endorsing check for half of it and open account for other half.
8. The firm received back one of promissory note TL 35.000 due to inability to pay, and signed new one TL 36.000 in order to pay at a later date
9. The firm sold 1.000 share certificates purchased before for short term investment. The selling price of each was TL 6, also the firm paid commission as much as 2% of total amount in the bank.
10. The firm acquired share certificates of T.Corp which has TL150.000 capitalthrough bank in order to be a partner.The amount of share certificate was TL 40.000
11. The firm decided to increase its capital TL 80.000 by issuing share certificate with nominal value TL 4. These share certificates were sold at a unit price of TL 10 through bank
12. The firm decided to acquire additional shares of T Corp at TL 40.000 via bank
13. The general assembly of firm decided to distribute last years’(preceding) profit at TL 14.000 in the following manner;
 TL 3.000 of last years’ losswas closed
 TL 4.000 of legal reserve fund was assigned
 TL 2.000 of reserve fund was assigned with the decision of general assembly
 TL 3.000 will be paid to the share holders
 TL 2.000 will be paid to the personnel
14. TL 4.000+VAT of merchandises sold before were returned to the firm due to their defect. Total cost of returned merchandises was TL 2.500. It is deducted from customer’s account
15. The firm’s motor vehicle which is registered value TL 20.000 was unserviceable due to accident. Its accumulated depreciation was TL 3.000. Insurance company informed that TL 15.000 will be paid as insurance benefit.
16. The firm sold the machine in cash TL 70.000+VAT for renewable purpose.The purchase(cost) price of machine was TL 45.000 and accumulated depreciation of it was TL 25.000.
17. The firm decided to record note receivable as a loss stated in (6) due to statutory limitation period in the court judgement.

Answer 1

Accounting archive containing a full list of accounting questions and ... Q: What is the present value of $9,430 to be received at the end of each ... 1. Issued $170,000 of common stock for cash. 2. Provided $92,000 of services on account. ... If you had a choice in a company where you are a manager, would ...

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