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(Doc) Corporate Accounting - Assignment

   

Added on  2020-01-21

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Corporate Accounting
(Doc) Corporate Accounting - Assignment_1
TABLE OF CONTENTSIntroduction......................................................................................................................................3Problem-1.........................................................................................................................................3(A)Profit & Loss Account............................................................................................................3(B) Balance Sheet as on 30th June 2018......................................................................................3(c) Statement Of Changes in Equity............................................................................................4Problem-2.........................................................................................................................................4(A) Current Tax Worksheet.........................................................................................................4(B) Deferred Tax Worksheet ......................................................................................................5( C ) Tax Journal Entries..............................................................................................................6Conclusion.......................................................................................................................................6References........................................................................................................................................72
(Doc) Corporate Accounting - Assignment_2
INTRODUCTIONCorporate accounting is used to keep the financial position of the business updated. Themain aim lies behind this to determine the value of the firm at a particular point of time. Toanalyze the financial position various tools have been provided such as Profit & Loss statements,Balance Sheet, Statements of Changes in Equity. These statements have been drawn for theproblems mentioned in the assignment. PROBLEM-1(A)Profit & Loss AccountParticularsAmount ($)ParticularsAmount ($)To Cost Of Sales675000Sales Revenue1237500To Administrative Expenses397500Other Income9000To Other Expenses15000To Income Tax Expense75600To provision for employee benefits51300To Dividends paid & Declared45000To Surplus3840012465001246500Analyzing the above P&L Account it can be concluded that the company made a surplus of$38400 which is almost 3% of the sales revenue(Konchitchki and Patatoukas, 2016).(B) Balance Sheet as on 30th June 2018Liabilities(In $)Share Capital450000General reserves37500Retained Earnings155100Revaluation Surplus210000Surplus From P&L38400Mortgage Loans375000Bank Overdraft1038007% Debentures120000Interest Payable4200Accounts Payable104250Dividend Payable15000Current Tax Liability78150Provision For Employee Benefits513003
(Doc) Corporate Accounting - Assignment_3

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