Need help in passing the jvs

Haris (s) (31 Points)

28 November 2011  
1 Selective Trial balance Extract of ABC Ltd as at 31.12.2010 is given below:  
                 
          '000' '000'    
          Dr  Cr    
  Investment Properties   5900      
  Office Equipment     214      
  Acc. Dep. - Investment Prop.     848    
  Acc. Dep. - Off. Equip.     89    
  Sale of Land - Park Avenue (15.10.2010)   500    
  Sale of Photocopy Machine (02.10.2010)   6    
  Revaluation reserve       3000    
                 
  A. Park Avenue land purchased on 15/02/2007 at a cost of Dhs 100,000 was re-valued  at Dhs 390,000/- in 2009
  B. Photocopier machine originally purchased on 15/03/2008 was costed Dhs 10,000/- and an additional 
      feeding unit was added at a cost of Dhs 2,000/- (15/05/09)    
                 
  Depreciation Rates:          
  Investment Properties - 10%          
  Office Equipment - 25%          
                 
  Depn Policy : Provision for depn is made from the following month of Assets purchased and no 
         depreciation for the month of sale.      
                 
                 
  Require to pass the relevant JV.        
                 
                 
                 
2 A Trading company exported an item in Dec/2009 for Dhs 248,279/-. This was sold at a mark up 
  of 17.5% and pending receivable as at 31.12.2009. In year 2010 this item was returned by the customer.
                 
  Pass the required JV'S in year - 2003.        
                 
                 
3 Extract of the Bank Balances and Fixed Deposit of X Ltd as at 31.12.2010.  
                 
  Account       Currency Statement Bal. Book Balance (AED)
  Citibank Current Account   Dhs              1,290,458.00
  Citibank U.S. $ - A/C     U.S. $         168.00                     589.00
  HSBC - LONDON - Fixed Deposit GBP   179,215.00            1,094,114.00
                 
  Average Exchange Rate as at 31.12.2010         
                 
  1 U.S. $ = 3.675 Dhs     619.08      
                 
  1 GBP = 7.02 - Dhs            
                 
                 
  Calculate the exchange gain/loss and pass the adjustment JV.


Explain Briefly about the Deferred Income with an example.

 		    

I was asked to pass Jurnals for these Questions Please Provide me the Corect answers