Question
You are given the Balance Sheet of XYZ LLC as on 31 st December,2020. ASSETS: 01-01-2020 31-12-2020 Machinery 150,00 127,500 Furniture 20,000 18,000 Stock (FIFO)
You are given the Balance Sheet of XYZ LLC as on 31st December,2020.
| ASSETS: | 01-01-2020 | 31-12-2020 |
| Machinery | 150,00 | 127,500 |
| Furniture | 20,000 | 18,000 |
| Stock (FIFO) | 30,000 | 35,000 |
| Debtors | 25,000 | 25,000 |
| Cash | 50,000 | 113,000 |
| TOTAL | 275,000 | 318,500 |
| LIABILITIES: |
|
|
| Share Capital | 175,000 | 175,000 |
| 12% Debentures | 50,000 | 50,000 |
| Current Liabilities | 50,000 | 50,000 |
| Retained Earnings | ----- | 43,500 |
| TOTAL | 275,000 | 318,5 00 |
| General Price Index | 300 | 360 |
a. What is the amount of Retained Earnings as per CPP Method?
a-OMR 20,391
b-OMR 43,500
c-OMR 40,782
d-OMR 81,564
What is the Balance Sheet Total as per CPP Method?
a-OMR 701,564
b-OMR 350,782
c-OMR 620,000
d-OMR 40,782
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Accounting For Managers Financial Accounting
Authors: Morusu Sivasankar
1st Edition
6200624909, 978-6200624901
