A. From the following Trial Balance of Deyah, Duaa and Shahad, you are required to prepare the following after taking into account the additional information: a) Adjusting Entries (2.5 marks) b) Income Statement for the year ended March 31, 2019 (2.5) c) Profit and Loss Appropriation Account (3.0) d) Partners Current Accounts (2.5) c) Balance Sheet (2.5) Trial Balance as on 31st March, 2019 Malar HOCA 29 Large TEM Adjustments: Stock on hand on 31st March, 2019 was valued at OMR 80,000 Accrued expenses: Salaries OMR 3,000, Wages OMR 2,400 Depreciate Machinery at 10% pa. Land and Building at 5% p.a. Provision for Bad and doubtful debts at 5% on Sundry Debtors. Legal charges paid in advance paid in advance OMR 1,200, The following were agreed upon a) Deyah is entitled to a salary of OMR 1,000 per month. b) Interest on capital is 5% pa. c) Commission of 4% pa.on profit before interest on capital and salaries. B. Admission of a New Partner (2 marks) 1. Explain the treatment of goodwill at the time of the admission of a new partner. 2. Why and how new partner is admitted in partnership business? c) Profit and Loss Appropriation Account (3.0) d) Partners" Current Accounts (2.5) e) Balance Sheet (2.5) Trial Balance as on 31st March, 2019 E B CH Cemete-Dayah 2. A 15.000 Ko Sandy Salanes om Cachar Legal charges Machi Land and he Bahis Sundy D Trap Elity Adjustments: Stock on hand on 31st March, 2019 was valued at OMR 80,000 Accrued expenses: Salaries OMR 3,000, Wages OMR 2,400. Depreciate Machinery at 10% pa. Land and Building at 5% p.a. Provision for Bad and doubtful debts at 5% on Sundry Debtors. Legal charges paid in advance paid in advance OMR 1,200. . The following were agreed upon: a) Deyah is entitled to a salary of OMR 1,000 per month. b) Interest on capital is 5% p.a. c) Commission of 4% p.a.on profit before interest on capital and salaries. B. Admission of a New Partner (2 marks) 1. Explain the treatment of goodwill at the time of the admission of a new partner. 2. Why and how new partner is admitted in partnership business? Academic Year 2020-2021 Semester - 11 BAAC2202 - Corporate Accounting 1 Assignment A. From the following Trial Balance of Deyah, Duaa and Shahad, you are required to prepare the following after taking into account the additional information: a) Adjusting Entries (2.5 marks) b) Income Statement for the year ended March 31, 2019 (2.5) c) Profit and Loss Appropriation Account (3.0) d) Partners' Current Accounts (2.5) e) Balance Sheet (2.5) Trial Balance as on 31st March, 2019 Dubita C Malar Death en Are they 4.000 Capitale NO . arch Du 21.00 15,000 Camle 3.100 Sundy Credit 2.600 000 2.500 303,00 . office mancha Lepal care Sandy and Bolig tes Export duty Badehes Sundry Doo Travelling po Electricity charger 130.000 7,600 600 200 2100 37.000 liq 116.000 Adjustments: Stock on hand on 31st March, 2019 was valued at OMR 80,000 Accrued expenses: Salaries OMR 3,000, Wages OMR 2,400. Depreciate Machinery at 10% p.a. Land and Building at 5% p.a. . Provision for Bad and doubtrul debts at S% on Sundry Amt. 80,000 80,000 80,000 2,500 2,500 103,000 60,0001 308,000 Debit Balance Amt. Credit Balance Current A/c - Deyah 4,000 Capital Alc- Deyah Opening stock 88,000 Duaa Purchases 1,76,000 Shahad Wages 23,500 Current Alc Shahad Salaries 15,000 Current A/c- Duaa Office expenses 8,000 Sundry Creditors Bank charges 2,600 Bank overdraft Legal charges 3,000 Sales Machinery 90,000 Land and Building 130,000 Interest 3,600 Export duty 3,800 Bad debts 4,000 Sundry Debtors 82,000 Travelling Expenses 3,200 Electricity charges 2,300 Furniture 37,000 Equipment 40,000 716,000 Adiustments. 716,000 A. From the following Trial Balance of Deyah, Duaa and Shahad, you are required to prepare the following after taking into account the additional information: a) Adjusting Entries (2.5 marks) b) Income Statement for the year ended March 31, 2019 (2.5) c) Profit and Loss Appropriation Account (3.0) d) Partners Current Accounts (2.5) c) Balance Sheet (2.5) Trial Balance as on 31st March, 2019 Malar HOCA 29 Large TEM Adjustments: Stock on hand on 31st March, 2019 was valued at OMR 80,000 Accrued expenses: Salaries OMR 3,000, Wages OMR 2,400 Depreciate Machinery at 10% pa. Land and Building at 5% p.a. Provision for Bad and doubtful debts at 5% on Sundry Debtors. Legal charges paid in advance paid in advance OMR 1,200, The following were agreed upon a) Deyah is entitled to a salary of OMR 1,000 per month. b) Interest on capital is 5% pa. c) Commission of 4% pa.on profit before interest on capital and salaries. B. Admission of a New Partner (2 marks) 1. Explain the treatment of goodwill at the time of the admission of a new partner. 2. Why and how new partner is admitted in partnership business? c) Profit and Loss Appropriation Account (3.0) d) Partners" Current Accounts (2.5) e) Balance Sheet (2.5) Trial Balance as on 31st March, 2019 E B CH Cemete-Dayah 2. A 15.000 Ko Sandy Salanes om Cachar Legal charges Machi Land and he Bahis Sundy D Trap Elity Adjustments: Stock on hand on 31st March, 2019 was valued at OMR 80,000 Accrued expenses: Salaries OMR 3,000, Wages OMR 2,400. Depreciate Machinery at 10% pa. Land and Building at 5% p.a. Provision for Bad and doubtful debts at 5% on Sundry Debtors. Legal charges paid in advance paid in advance OMR 1,200. . The following were agreed upon: a) Deyah is entitled to a salary of OMR 1,000 per month. b) Interest on capital is 5% p.a. c) Commission of 4% p.a.on profit before interest on capital and salaries. B. Admission of a New Partner (2 marks) 1. Explain the treatment of goodwill at the time of the admission of a new partner. 2. Why and how new partner is admitted in partnership business? Academic Year 2020-2021 Semester - 11 BAAC2202 - Corporate Accounting 1 Assignment A. From the following Trial Balance of Deyah, Duaa and Shahad, you are required to prepare the following after taking into account the additional information: a) Adjusting Entries (2.5 marks) b) Income Statement for the year ended March 31, 2019 (2.5) c) Profit and Loss Appropriation Account (3.0) d) Partners' Current Accounts (2.5) e) Balance Sheet (2.5) Trial Balance as on 31st March, 2019 Dubita C Malar Death en Are they 4.000 Capitale NO . arch Du 21.00 15,000 Camle 3.100 Sundy Credit 2.600 000 2.500 303,00 . office mancha Lepal care Sandy and Bolig tes Export duty Badehes Sundry Doo Travelling po Electricity charger 130.000 7,600 600 200 2100 37.000 liq 116.000 Adjustments: Stock on hand on 31st March, 2019 was valued at OMR 80,000 Accrued expenses: Salaries OMR 3,000, Wages OMR 2,400. Depreciate Machinery at 10% p.a. Land and Building at 5% p.a. . Provision for Bad and doubtrul debts at S% on Sundry Amt. 80,000 80,000 80,000 2,500 2,500 103,000 60,0001 308,000 Debit Balance Amt. Credit Balance Current A/c - Deyah 4,000 Capital Alc- Deyah Opening stock 88,000 Duaa Purchases 1,76,000 Shahad Wages 23,500 Current Alc Shahad Salaries 15,000 Current A/c- Duaa Office expenses 8,000 Sundry Creditors Bank charges 2,600 Bank overdraft Legal charges 3,000 Sales Machinery 90,000 Land and Building 130,000 Interest 3,600 Export duty 3,800 Bad debts 4,000 Sundry Debtors 82,000 Travelling Expenses 3,200 Electricity charges 2,300 Furniture 37,000 Equipment 40,000 716,000 Adiustments. 716,000