The following four questions are for the purpose of determining your basic bookkeeping skills. Please provide the double-entry transactions (debits and credits) and the date of the transaction. You may use any names you want for the general ledger accounts as long as they make sense but please indicate if they are balance sheet or profit & loss accounts. Please use trade date accounting where applicable.

1. As at October 31, 2020, we accrued $1,000 for legal expenses. We received the actual invoice for these expenses on November 15, 2020. The invoice was for $1,500. We paid the invoice on November 30, 2020. Provide all entries for October and November 2020 if applicable.

2. Adam has committed an amount of $200,000 in ABCD Fund Ltd(“Fund”) on 01/01/2021. The Fund made a first capital call of 10% of commitment on 02/05/2021 and a second capital call of 20% of commitment on 03/20/2021. Adam sent an amount of $20,000 on 02/19/2021 and $50,000 on 04/04/2021 respectively. Please provide all the accounting entries for the treatment of the capital calls and payments on both dates including any entries for under/overpayment if applicable.

3. (i) ABCD Fund Ltd(“Fund”) has signed an agreement with Lottotech (“Company”) on 02/15/2021 to invest an amount of up to USD$5,000,000 over a period of time. The Fund reporting currency is in CAD$ and the reporting date is 12/31/2021. On 06/02/21 the Fund sent an amount of CAD$1,300,000 and a further amount of CAD$2,500,000 on 12/20/2021 to the Company. Assuming the FX rate for CAD/USD was 1.350on 02/15/2021, 1.300 on 06/02/2021 and 1.250 on 12/20/2021, please provide all the accounting entries for the investments made during 2021 at the Fund level and mention the USD$ amount left for investment in the Company. (You can use a calculator or excel)

(ii) As at the reporting date the CAD/USD FX Rate is 1.450 and this is the only change in FV applicable for Lottotech at this date, please provide the journal entries for the change in FV of investment as at the reporting date.

4. ABCD Fund Ltd(“Fund”) was launched on 09/01/2020 and has two types of investors in the Fund, Class 2020 investors who pay management fees at 2% of commitment per annum and the new class 2021 where investors will be paying 3% of commitment per annum. For the year ended 12/31/2021, the capital commitment for class 2020 was $15m and $25m for class2021. Assuming the class 2021 investors came into the Fund on the 3/1/2021 and the class 2020 investors joined on launch at 9/1/2020, please calculate the total amount of management fees tobe charged by to the fund for the year ended 2020 and 2021. Please note no catch-up of management fees is required and no sales tax need be applied. (You can use a calculator or excel)