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Esplanade Ltd has non-cumulative non-redeemable preference shares with a par value of R2.00 and a dividend rate of 10%. The markets required rate of return on the preference share is 12%. The preference dividend has been suspended for the past two years and it is expected that dividend payments will resume two years from today.

The value of an Esplanade preference share is:​



Statement of David's Co showed a credit balance of $ 14,400 as of 30 Sept 1990, whilst the cash book balance shows a debit of $ 8,535 on the same date. A further examination reaveled. A) cheque of $ 10,200 which was dated 28 Sept 1990 was presented for payment on 6th Oct 1990. B)Shortbankings amounted to $ 525 while overbanking amounted to $300 C) Loan repayment by way of a standing order for $ 3,600 paid by the bank on 30 September had not been entered in the cash book.D)Debit side cash book had been overcast by $ 600.E)On 29 Sept 1990, cheques & cash totalling $1,620 banked but the amount not recorded by the bank until 2 Oct 1990.F)Dishonoured cheques totalling $ 8,850 recorded on the bank statement on 26 Sept 1990, but not advised to David Co until Oct 1990.G) Banking of $ 12,000 entered as $1,200 in the cash book.H) Bank charged a commission of $ 240 but failed to advise David Co.

1) Show the corrected cash book balance.

2)Reconcile the bank statement balance to the correct cash book balance.


1. Millicent is planning to travel to the United States of America in 3 years time. She 

estimated that her vacation would cost $1,236,000. Given the existing interest rate of 6%, 

how much money should she invest now?

A. $999,769.43

B. $1,027,869.53

C. $1,037,769.43

D. $1,250,869.53


The engineering team just signed a lease contract for equipment for a period of 5 years and the equipment has a useful life of 6 years. The monthly lease payment is $100 each month, the value of the equipment is $7,000 new with $0 salvage value. At the end of the first month, what journal entries should be recorded to account for this under ASPE?


Explain in a paragraph the economic meaning of the HR business cycle based on the give-to-get economic duality?

Explain in a paragraph that many organizations use HR data analytics to hire potential employees to avoid hiring unqualified employees. What is your opinion that HR data analytics is an excellent approach to improve hiring efficiency in a paragraph?

Using the reconciliation of the hatch total to avoid payroll errors. Would you explain in a paragraph what is hatch total and how this approach works?


What kinds of potential threats can impact the implementation of the ERP system in the manufacturing process. How to avoid these risks with necessary internal controls and business actions.

That Activity-Based-Costing system can act as an important function to improve the usefulness and accuracy of the costing information system. Write a paragraph to explain why?


Dai Hing Bookshop Ltd. has a beginning cash balance of $44,000 on November 1. The firm has projected sales of $61,000 in October, $68,000 in November, and $74,000 in December.

The cost of goods sold is equal to 60 percent of sales.

Goods are purchased one month prior to the month of sale and there is no ending inventory requirement.

The accounts payable period is 30 days and the accounts receivable period is 15 days.

The firm has monthly cash expenses of $16,000.

What is the projected ending cash balance at the end of November and December? Assume every month has 30 days.


5) Define Mudarabah and explain its contribution to the Islamic financing and to the Islamic deposits.


Record the following transactions using the accounting equation and T accounts.

1.     Owner contributed $50,000 in cash for company stock.

2.     Purchased building for $120,000, making a $20,000 down payment and signing a promissory note for the balance.

3.     Sold products to customers for $15,000 cash.

4.     Paid utilities expense of $2,000.

5.     Reduced note payable with an $8,000 cash payment (ignore interest costs).

6.     Incurred expense of $3,000, to be paid in the future (accounts payable).

Collected $4,000 on an outstanding account receivable


Following information has been extracted from costing record of Abdul Engineering works in respect of Job No. 101.


Material Rs.5,800


Wages:


Department A 100 hours @ Rs. 5 per hour


Department B 200 hours @ Rs. 3 per hour



Overhead for the two department are estimated as follows:


Variable Overhead


Department A Rs.10,000 for 5,000 direct labour hours


Department B Rs.30,000 for 10,000 direct labour hours



Fixed Overheads: Estimated at Rs.50,000 for 50,000 normal working hours.



Required:


Calculate the cost of Job No. 101 and calculate the price to be charged so as to given a profit of 20% on selling price.

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