Prove that Accounting Equation is satisfied the following transactions: (i) Commenced business with cash ₹785000, good ₹215000 and
Building ₹ 220000
(ii) Purchased goods for cash ₹64860
(iii) Purchased goods on credit ₹185500
(iv) Sold goods for cash ₹48500 (cost price ₹36700)
(v) Prepaid Insurance ₹9990
(vi) Open a bank account ₹25000
(vii) Sold goods on credit ₹72400 (cost price ₹62500)
(viii) Cash paid to creditors ₹82500
(ix) Outstanding wages ₹15400
(x) Cash received from debtors ₹11400
(xi) Rent received in advance ₹9880
(xii) Depreciation charged on Building ₹24400

Tiana daniels enterprise’s trial balance as at december 31, 2016 did not balance. on february 15, 2017 the following errors were detected: errorsi. water rates had been undercast by $2, 000.  ii. a cheque paid to yvonne walch of $2, 680 had been posted to the credit side of her account.  iii. discount received total of $1, 260 had been posted to the debit side of the discount allowed account as $1, 620.  iv. rent paid in the amount of $24, 000 had been posted to the credit of the rent received account.  v. wayne returned goods valuing $1, 680 to daniels enterprise but had been completely omitted from the books.    required: 1. prepare the journal entries to correct the errors.  (narrations required)                    14.5 marks  2.    prepare the suspense account showing clearly the original trial balance error.          8 marks

Bonds often pay a coupon twice a year. for the valuation of bonds that make semiannual payments, the number of periods doubles, whereas the amount of cash flow decreases by half. using the values of cash flows and number of periods, the valuation model is adjusted accordingly. assume that a $1,000,000 par value, semiannual coupon us treasury note with three years to maturity has a coupon rate of 3%. the yield to maturity (ytm) of the bond is 7.70%. using this information and ignoring the other costs involved, calculate the value of the treasury note:

What impact might an economic downturn have on a borrower’s fixed-rate mortgage? a. it might cause a borrower’s payments to go up. b. it might cause a borrower’s payments to go down. c. it has no impact because a fixed-rate mortgage cannot change. d. it has no impact because the economy does not affect interest rates.