4 (A) How Amalgamation Is Different From Liquidation Of Companies? 4 (B) With The Help Of Cash Account And Schedule Of Fixed Assets Given In Table 4, 5 And 6, Prepare CFS By Using Indirect Method: I. Tax Charge For The Year = $400,000 Ii. Opening Balance On Tax Liability = 100,000 Iii. Other Expenses (Insurance, Paid In Advance) On 30 June. Iv. Insurance

4 (a) How Amalgamation is different from Liquidation of companies?

4 (b) With the help of Cash Account and Schedule of Fixed Assets given in Table 4, 5 and 6, prepare CFS by using Indirect Method:

i. Tax charge for the year = $400,000

ii. Opening balance on Tax Liability = 100,000

iii. Other Expenses (Insurance, Paid in Advance) on 30 June.

iv. Insurance paid 300,000 in 2018, and for 2019 it is 400,000

 

 

q40:

           

What is a nation's cash inflow (outflow) on its current account and its capital account given the following information? Was there a net currency inflow or outflow?

1. QHC buys $60 worth of toys from a Chinese manufacturer 2. Delcina sent $10 from Canada to her niece in Eleuthera for her birthday 3. UK investors purchase $200 worth of Cable Bahamas shares 4. Jamal purchased a super computer from Tokyo for $30 5. Leno Corp. invested $230 in Tik Tok shares for their investment portfolio 6. Bahamian tourist buys a meal in Dubai for $20 using his VISA card 7. FYP sold $140 worth of lumber to Swedish manufacturers

 

 

Table No. 4: Summarized Cash A/c Opening Balance Cash from Cash Sales Cash from Credit Sales $500 Wages $1,350 3,500 Other Expenses 600 5,750 Cash paid to Suppliers of Firm 4,320 Cash from Issuance of Shares 1,200 Paid Taxes 100 Cash from Sales of Office Building 970 Cash paid on Financial Lease 700 $11,920 Dividends 2018 100 Interim Dividends 2019 50 Closing Balance 4,700 $11,920 Table No. 5: Schedule of Fixed Assets Heads Cost at 01-01-2019 Plant $10,000 Building $15,000 Total $25,000 Acquisition 4,730 000 4,730 Disposal 000 (5,000) (5,000) Cost at 31-12-2019 $14,730 $10,000 $24,730 Accumulated Depreciation 01-01- 3,500 6,000 9,500 2019 Charge for Year 650 1,500 2,150 Disposal 000 (4,500) (4,500) Accumulated Depreciation 31-12- $4,150 $3.000 $7.150 2019