{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-26T02:08:04-04:00", "answer_date": "2024-05-26 02:08:04", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1719474", "url": "\/study-help\/questions\/toplink-whose-line-of-business-is-general-merchandising-makes-up-1719474", "question_creation_date_js": "2024-05-26T02:08:04-04:00", "question_creation_date": "May 26, 2024 02:08 AM", "meta_title": "[Solved] Toplink whose line of business is general | SolutionInn", "meta_description": "Answer of - Toplink whose line of business is general merchandising makes up account to 31st March every year. Its final balances | SolutionInn", "meta_keywords": "toplink,line,business,general,merchandising,makes,account,31st,march,year,final,balances", "question_title_h1": " Toplink whose line of business is general merchandising makes up account to 31st March every year. Its final balances as at 31\/3\/2018 are as", "question_title": " Toplink whose line of business is general merchandising makes up account", "question_title_for_js_snippet": "Toplink whose line of business is general merchandising makes up account to 31st March every year Its final balances as at 31 3 2018 are as shown below Dr CR N'000 N'000 Goodwill 1,000 Land Building 9,500 Plant Machinery 6,500 Fixtures Fittings 5,000 Provisions for Dep Land Building 600 Plant Machinery 3,300 Fixtures Fittings 2,500 Long term Investment 10,300 Sales 53,840 Purchases 28,500 Salaries Wages Distribution 900 Administration 1,890 Creditors due within 1 year Trade Creditors 4,236 Other Creditors 1,800 Bank Overdraft 480 Trade Debtors 5,150 Bank Cash 3,086 Stock 1 4 97 5,600 Share Capital 9,600 Share Premium 300 P L 1,271 General Reserve 210 Provision for Staff 390 Pension Interest on Short term 30 30 Bank Overdraft Uninsured fire loss 176 Income Tax 85 Interim dividend paid 250 Income tax 1 4 97 1,800 Other selling and 2,600 distribution exp Other Administration 890 exp Commission received 300 Auditors remuneration 370 Motor Vehicle 1,800 Provision for 900 Depreciation Creditors due after 1 year 5 unsecured loan 1,500 stock 2019 2020 Bank Loan 160 Other creditors 440 83,627 83,627 The following information is also provided 1 Proceed sale of investment amounted to N600,000 2 Fixtures and fittings with an original cost of N 7M and a net book value of N900,000 were sold for N640,000 during the year 3 Tangible assets comprise of Cost 31 12 2017 31 12 2018 N14 4m N11 9m N5 8m Accumulated Depreciation N6 8m 4 1m ordinary shares of N1 were issued during the year at a premium of 20k per share 5 The short term investment represents investment in CBN Treasury Bills maturing in a months' time 6 Movement in patent Trademarks represent payment made for a new product licence Required to prepare a cashflow statement of Nayi Ltd for the year ended 31 12 2018 ", "question_description": "\"image\"image", "transcribed_text": "Toplink whose line of business is general merchandising makes up account to 31st March every year. Its final balances as at 31\/3\/2018 are as shown below; Dr CR N'000 N'000 Goodwill 1,000 Land & Building 9,500 Plant & Machinery 6,500 Fixtures & Fittings 5,000 Provisions for Dep: Land & Building 600 Plant & Machinery 3,300 Fixtures & Fittings 2,500 Long term Investment 10,300 Sales 53,840 Purchases 28,500 Salaries & Wages: Distribution 900 Administration 1,890 Creditors due within 1 year: Trade Creditors 4,236 Other Creditors 1,800 Bank Overdraft 480 Trade Debtors 5,150 Bank & Cash 3,086 Stock 1\/4\/97 5,600 Share Capital 9,600 Share Premium 300 P&L 1,271 General Reserve 210 Provision for Staff 390 Pension Interest on Short-term 30 30 Bank Overdraft Uninsured fire loss 176 Income Tax 85 Interim dividend paid 250 Income tax 1\/4\/97 1,800 Other selling and 2,600 distribution exp Other Administration 890 exp Commission received 300 Auditors remuneration 370 Motor Vehicle 1,800 Provision for 900 Depreciation Creditors due after 1 year: 5% unsecured loan 1,500 stock 2019\/2020 Bank Loan 160 Other creditors 440 83,627 83,627 The following information is also provided; 1. Proceed sale of investment amounted to N600,000 2. Fixtures and fittings with an original cost of N.7M and a net book value of N900,000 were sold for N640,000 during the year. 3. Tangible assets comprise of; Cost 31\/12\/2017 31\/12\/2018 N14.4m N11.9m N5.8m Accumulated Depreciation N6.8m 4. 1m ordinary shares of N1 were issued during the year at a premium of 20k per share 5. The short-term investment represents investment in CBN Treasury Bills maturing in a months' time 6. Movement in patent & Trademarks represent payment made for a new product licence. Required to prepare a cashflow statement of Nayi Ltd for the year ended 31\/12\/2018.", "related_book": { "title": "Cost Accounting A Managerial Emphasis", "isbn": "978-0132960649, 132960648, 132109174, 978-0132109178", "edition": "14th Edition", "authors": "Charles T. Horngren, Srikant M.Dater, George Foster, Madhav", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/58.jpg", "uri": "\/textbooks\/cost-accounting-a-managerial-emphasis-14th-edition-58", "see_more_uri": "" }, "free_related_book": { "isbn": "8171412653", "uri": "\/textbooks\/methods-for-bioremediation-of-water-and-wastewater-pollution-environmental-chemistry-for-a-sustainable-world-51-1st-edition-9783030489847", "name": "Chemistry Of Air And Air Pollution", "edition": "1st Edition" }, "question_posted": "2024-05-26 02:08:04", "see_more_questions_link": "\/study-help\/questions\/business-banking-2021-September-12", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/questions\/1-consider-a-household-that-has-300-to-spend-on-701764", "description": "1. Consider a household that has $300 to spend on back-to- school shoes. 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