The following selected transactios and events of Ashmore Ltd. Were completed during the accounting year just ended, 31 December 20X5. Interest rates reflect
market rates unless indicated.
a.	On 1 June, the company borrowed $54,000 in cash from the bank on a demand basis. The interest rate was 5% to be paid on the anniversary date of the loan.
b.	Merchandise was purchased on account; a $20,000, one year 6% interest-bearing note, dated 1 April 20X5, was given to the supplier. Interest is paid when the
	amount is due on 1 April 20X6.
c.	Merchandise was purchased on account; a two year, $18,000, 2% note dated 1 February 20X5 was given to the supplier. Interest is due annually on 1 February.
	The going interest rate for this term and risk was 8%. Use the gross method to record the note payable.
d.	A supplier delivered goods on account costing US$22,000. The exchange rate was US$1 = Cnd$0.96 at that time.
e.	Ashmore has been sued by a customer for $450,000. The legal team confidently believes that there is an 85% chance that Ashmore will successfully defend itself.
f.	New legislative requirements came into force at the beginning of this year regarding environmental remediation. Ashmore believes it will have to pay $90,000
	in nine years time when the company vacates leased premises. The going interest rate for this term and risk was 8%.
g.	Payroll records showed that the following amounts are unpaid: Gross wages $130,000; Income tax $33,000; EI $6,100; CPP $5,500; Union Dues $3,500.
h.	The employer portion of EI and CPP are recorded.
i.	Remittances were income tax, $31,350; EI $10,250; CPP $9,720; union dues $1,450.
j.	Cash dividends declared but not yet paid were $23,500.
k.	Accrue appropriate interest at 31 December, and adjust the foreign-denominated payable to the year end rate, US$1=Cnd$0.94.
Give the entry or entries for each of the above transactions and events, if needed. (if not needed, explain why)
Prepare a list (title and amount) of the liabilities of Ashmore at 31 December 20X5

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X Ietes - 24 0 H The following selected transition and events of Ashmorete Were completed during the counting your jended, all December 20X Interest rate elect marunte indicated 10 On tune the company borrowed 364.000 in cash from the hanc on demand both the interest rate was to be paid on the anniversary date of the loan Merchandiwot parched on count $20.000, one year 016 Intervention dated April 20xt, we given to the supplier Interest in pnd when the Outuson 1 April 20x1. Merchand was purchased on account two year, 31.000 2% ned Prunty Box wwxven to the supplier intero in due annually on t'obrusy The pond interest rate for this and risk was. Use the method to record the nate payable Applier delivered goodson count con0822.000 The exhaust wis US$ Ondod at that time Ashmore has been wed by otome for $450,000. The teamconfidently believes that there in any chance that more WILGOClydosende New introqulranta came into force at the tonearreding environmental remediation Ashmore believe will have to pay 800,000 Innie years time when the company actioned prem. The pointererate for this term and risk % Parall records showed that the following amounts are uspeld: drones $300,000 Income tax 83,000 10,100,OPPS5.500 Union Duca $3.600 The employer portion of and OPP recorded Romances were income tax, 31350/R1810,50 PP Sunion duen 161 Cath dividends declared but not yet paid were $23.500 Norcon propriate intercatat in Deoomber and adjust the foreign denominated payable to the year and it U881 Cnd10.94 Give the entry or entries for each of the above tractions and events, if needed, if not needed, explain why) 1 21 Prepare a little and amount of the labis of Asimorest December 20X5 On1 June, the company borrowed $54,000 in cash from the bank on a demand basis. The interest rate was 5% to be paid on the anniversary date of the loan Merchandise was purchased on account: a $20,000, one year 1% interest bearing note, dated 1 April 20x5, was given to the supplier Interest is paid when the amount is due on 1 April 20x6. Merchandise was purchased on account; a two year, $18,000,2% nouelated 1 February 20X5 was given to the supplier. Interest is due annually on 1 February The going interest rate for this term and risk was 8%. Use the gross method to record the note payable A supplier delivered goods on account costing US$22,000. The exchange rate was US$1 - Cnd$0.96 at that time. Ashmore has been sued by a customer for $450,000. The legal team confidently believes that there is an 85% chance that Anh more will successfully defend itself New legislative requirements came into force at the beginning of this year regarding environmental remediation. Ashmore believes it will have to pay $90,000 in nine years time when the company vacates and premises. The going interest rate for this term and risk was 8% Payroll records showed that the following amounts are unpaid. Gross wages $130,000; Income tax $33,000; EI $0,100, CPP $5.500; Union Dues $3,500 The employer portion of El and CPP are recorded, Remittances were income tax $31,350; EI $10,250, CPP $9,720; union dues $1.450. Cash dividende declared but not yet paid were $23,500. Aocrue appropriate interest at 31 December, and adjust the foreign-denominated payable to the year end rate, USSI Ond$0.94 entry or entries for each of the above transactions and events, if needed. (if not needed, explain why) a list (title and amount of the liabilities of Ashmore at 31 December 20X5 X Ietes - 24 0 H The following selected transition and events of Ashmorete Were completed during the counting your jended, all December 20X Interest rate elect marunte indicated 10 On tune the company borrowed 364.000 in cash from the hanc on demand both the interest rate was to be paid on the anniversary date of the loan Merchandiwot parched on count $20.000, one year 016 Intervention dated April 20xt, we given to the supplier Interest in pnd when the Outuson 1 April 20x1. Merchand was purchased on account two year, 31.000 2% ned Prunty Box wwxven to the supplier intero in due annually on t'obrusy The pond interest rate for this and risk was. Use the method to record the nate payable Applier delivered goodson count con0822.000 The exhaust wis US$ Ondod at that time Ashmore has been wed by otome for $450,000. The teamconfidently believes that there in any chance that more WILGOClydosende New introqulranta came into force at the tonearreding environmental remediation Ashmore believe will have to pay 800,000 Innie years time when the company actioned prem. The pointererate for this term and risk % Parall records showed that the following amounts are uspeld: drones $300,000 Income tax 83,000 10,100,OPPS5.500 Union Duca $3.600 The employer portion of and OPP recorded Romances were income tax, 31350/R1810,50 PP Sunion duen 161 Cath dividends declared but not yet paid were $23.500 Norcon propriate intercatat in Deoomber and adjust the foreign denominated payable to the year and it U881 Cnd10.94 Give the entry or entries for each of the above tractions and events, if needed, if not needed, explain why) 1 21 Prepare a little and amount of the labis of Asimorest December 20X5 On1 June, the company borrowed $54,000 in cash from the bank on a demand basis. The interest rate was 5% to be paid on the anniversary date of the loan Merchandise was purchased on account: a $20,000, one year 1% interest bearing note, dated 1 April 20x5, was given to the supplier Interest is paid when the amount is due on 1 April 20x6. Merchandise was purchased on account; a two year, $18,000,2% nouelated 1 February 20X5 was given to the supplier. Interest is due annually on 1 February The going interest rate for this term and risk was 8%. Use the gross method to record the note payable A supplier delivered goods on account costing US$22,000. The exchange rate was US$1 - Cnd$0.96 at that time. Ashmore has been sued by a customer for $450,000. The legal team confidently believes that there is an 85% chance that Anh more will successfully defend itself New legislative requirements came into force at the beginning of this year regarding environmental remediation. Ashmore believes it will have to pay $90,000 in nine years time when the company vacates and premises. The going interest rate for this term and risk was 8% Payroll records showed that the following amounts are unpaid. Gross wages $130,000; Income tax $33,000; EI $0,100, CPP $5.500; Union Dues $3,500 The employer portion of El and CPP are recorded, Remittances were income tax $31,350; EI $10,250, CPP $9,720; union dues $1.450. Cash dividende declared but not yet paid were $23,500. Aocrue appropriate interest at 31 December, and adjust the foreign-denominated payable to the year end rate, USSI Ond$0.94 entry or entries for each of the above transactions and events, if needed. (if not needed, explain why) a list (title and amount of the liabilities of Ashmore at 31 December 20X5