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Answer all the 3 questions below. Explain your calculations
It assesses the following learning outcomes:
• Outcome 1: Critically understand the different elements of the financial statements.
• Outcome 2: Knowing how to record business transactions on the General Journal
• Outcome 3: Knowing how to prepare a trial balance

Exercise 1:
Calculate the missing retained earnings (X) and inventory (Y) accounts in the following cases: (20 points) Balance Sheet A:
Assets Liabilities
Cash 28000 Accounts payable 65000
Accounts receivable 65000 Notes payable
128000
Land 50000 Salaries payable 23000
Building 300000 Taxes payable 49000
Office Equipement 24000
Vehicles 32000 Stockholders equity
Inventory

125000

Capital stock
Retained earnings 200000
(X)

Balance Sheet B:
Assets Liabilities
Cash 30500 Accounts payable 43000
Accounts receivable 12700 Notes payable
23000
Land 50000 Salaries payable 12000
Building 260000 Taxes payable 75000
Office Equipement 2300
Vehicles 24000 Stockholders equity
Inventory
(Y)

Capital stock 150000
Retained earnings 207000
Exercise 2:
A. Prepare the Balance Sheet based on the information supplied below: (30 points)
Inventory 15000
Loans 40000
Bank Accounts 6000
Accounts payable 12000
Land 60000
Owners’ Capital 35000
Cash 500
Equipments 7000
Retained earnings 55000
Salaries payable 7000
Building 65000
Accounts receivable 22000
Accumulated depreciation 4500
Line of credit 20000
Bonds payable 8000
Vehicles 6000

B. Compute the Accounting Metrics and comment the results. (20 points)

Exercise 3:
Brandon has recently decided to open his new business of retail of toys in a store located in the center of Barcelona. During the month of April 2021, Brandon’s new company BONCO, Ltd. realized the following transactions:

2nd of April: BONCO, Ltd issued to Brandon 100,000 shares in exchange of $350,000 of share capital.
3rd of April: BONCO, Ltd purchased a shop for $250,000. The price of the land is $100,000 and the building $150,000. BONCO, Ltd has signed a mortgage with a bank.
4th of April: BONCO, Ltd purchased furniture to FURNISH YOUR SHOP, Inc. for $35,000.
5th of April: BONCO, Ltd purchased merchandises on account to BIGUP, Inc for $28,000.
6th of April: BONCO, Ltd makes some installations in the shop for $7,500 paid in cash.
7th of April: BONCO, Ltd hires two employees with a salary $1,500/ month each. Salaries are paid on the last day of the month.
8th of April: BONCO, Ltd purchases little gifts to be offered to clients during the first week of activity for $1,500, paid in cash.
16th of April, BONCO, Ltd purchases merchandises to ONSTYLE, Ltd on account for $41,000.
22nd of April, BONCO, Ltd receives an electricity bill for $900 payable in May.
29th of April: BONCO, Ltd pays the accounts payable to FURNISH YOUR SHOP, Inc.
30th of April: BONCO, Ltd records the sales of the month of April that amount to $126,000. All sales have been paid in cash.

Record the transactions of the company on the General Journal using the Double-Entry method (30 points)

Sample Answer

Compelling correspondence is essential to the achievement all things considered but since of the changing idea of the present working environments, successful correspondence turns out to be more troublesome, and because of the numerous impediments that will permit beneficiaries to acknowledge the plan of the sender It is restricted. Misguided judgments.In spite of the fact that correspondence inside the association is rarely completely open, numerous straightforward arrangements can be executed to advance the effect of these hindrances.

Concerning specific contextual analysis, two significant correspondence standards, correspondence channel determination and commotion are self-evident. This course presents the standards of correspondence, the act of general correspondence, and different speculations to all the more likely comprehend the correspondence exchanges experienced in regular daily existence. The standards and practices that you learn in this course give the premise to additionally learning and correspondence.

This course starts with an outline of the correspondence cycle, the method of reasoning and hypothesis. In resulting modules of the course, we will look at explicit use of relational connections in close to home and expert life. These incorporate relational correspondence, bunch correspondence and dynamic, authoritative correspondence in the work environment or relational correspondence. Rule of Business Communication In request to make correspondence viable, it is important to follow a few rules and standards. Seven of them are fundamental and applicable, and these are clear, finished, brief, obliging, right, thought to be, concrete. These standards are frequently called 7C for business correspondence. The subtleties of these correspondence standards are examined underneath: Politeness Principle: When conveying, we should build up a cordial relationship with every individual who sends data to us.

To be inviting and polite is indistinguishable, and politeness requires an insightful and amicable activity against others. Axioms are notable that gracious “pay of graciousness is the main thing to win everything”. Correspondence staff ought to consistently remember this. The accompanying standards may assist with improving courtesy:Preliminary considering correspondence with family All glad families have the mystery of progress. This achievement originates from a strong establishment of closeness and closeness. Indeed, through private correspondence these cozy family connections become all the more intently. Correspondence is the foundation of different affiliations, building solid partners of obedient devotion, improving family way of life, and assisting with accomplishing satisfaction (Gosche, p. 1). In any case, so as to keep up an amicable relationship, a few families experienced tumultuous encounters. Correspondence in the family is an intricate and alluring marvel. Correspondence between families isn’t restricted to single messages between families or verbal correspondence.

It is a unique cycle that oversees force, closeness and limits, cohesiveness and flexibility of route frameworks, and makes pictures, topics, stories, ceremonies, rules, jobs, making implications, making a feeling of family life An intelligent cycle that makes a model. This model has passed ages. Notwithstanding the view as a family and family automatic framework, one of the greatest exploration establishments in between family correspondence centers around a family correspondence model. Family correspondence model (FCP) hypothesis clarifies why families impart in their own specific manner dependent on one another ‘s psychological direction. Early FCP research established in media research is keen on how families handle broad communications data. Family correspondence was perceived as an exceptional scholastic exploration field by the National Communications Association in 1989. Family correspondence researchers were at first impacted by family research, social brain science, and relational hypothesis, before long built up the hypothesis and began research in a family framework zeroed in on a significant job. Until 2001, the primary issue of the Family Communication Research Journal, Family Communication Magazine, was given. Family correspondence is more than the field of correspondence analysts in the family. Examination on family correspondence is normally done by individuals in brain science, humanism, and family research, to give some examples models. However, as the popular family correspondence researcher Leslie Baxter stated, it is the focal point of this intelligent semantic creation measure making the grant of family correspondence special. In the field of in-home correspondence, correspondence is normally not founded on autonomous messages from one sender to one beneficiary, yet dependent on the dynamic interdependency of data shared among families It is conceptualized. The focal point of this methodology is on the shared trait of semantic development inside family frameworks. As such, producing doesn’t happen in vacuum, however it happens in a wide scope of ages and social exchange.

Standards are rules end up being followed when performing work to agree to a given objective. Hierarchical achievement relies significantly upon compelling correspondence. So as to successfully impart, it is important to follow a few standards and rules. Coming up next are rules to guarantee powerful correspondence: clearness: lucidity of data is a significant guideline of correspondence. For beneficiaries to know the message plainly, the messages ought to be sorted out in a basic language. To guarantee that beneficiaries can without much of a stretch comprehend the importance of the message, the sender needs to impart unmistakably and unhesitatingly so the beneficiary can plainly and unquestionably comprehend the data.>

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