Account for chillis change in trading stock level

Assignment Help Accounting Basics

Reference no: EM133654930

Question: Chilli Pepa operates a fishing supplies store. During the 2023 income year, Chilli recorded the following trading stock balances (excluding GST): Trading stock at 30 June 2022 $37,000 (at cost) Trading stock at 30 June 2023 $22,000 (at cost); $24,000 (at replacement value) What is the correct treatment to account for Chilli's change in trading stock level?

Reference no: EM133654930

Questions Cloud

What is it about that ad that motivates the target market : How does this message relate to the company, the service/product? Most importantly, what is it about that ad that motivates the target market?

Calculate the taxable income of sj for the 2023 income year : SJ sold shares held as an investment for $45,000. The shares were purchased in 2017 for $25,000 Calculate the taxable income of SJ for the 2023 income year

Calculate the deduction available to victor in respect : apply the substantiation provisions to calculate the deduction available to Victor in respect of the 2023 income year

Identify any potential risks to the vendor and attendees : You are to think about the inspection and identify any potential risks to the vendor and attendees that may arise from the open for inspection.

Account for chillis change in trading stock level : Trading stock at 30 June 2022 $37,000 (at cost) Trading stock at 30 June 2023 $22,000 (at cost); $24,000 (at replacement value) What is the correct treatment

Which things do employee need to prove to be able to claim : Select all that apply In addition to the fact that the Americans. Which things do an employee need to prove to be able to claim disability discrimination?

Give an introduction of apple as well as market proposition : Give an introduction of Apple as well as market proposition; make analysis on current sales and marketing relationship and add the proposition.

What charge for bad and doubtful debts is required in 2020 : what charge for bad and doubtful debts is required in 2020 to bring the lending provisions to a desired level of $100 million at the end of 2020?

What type of social media metric : Starbucks gave "The Real PSL" social media followers a chance to be texted a pass that could be shown. This is an example of what type of social media metric?

User Account

All Pages