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Practice questions:
Construct a trial balance for Harlech Health Food from the following list of balances, calculating the figure for purchases:
£
Capital 18,000
Wages 1,600
Bank 1,500
Equipment 2,000
Rent 1,400
Sales 26,200
Returns inward 900
Returns outward 460
Discounts allowed 720
Discounts received 620
Miscellaneous expenses 390
Purchases ?
Conduct a 3-year ratio analysis of the firm and the industry by computing each of the ratios listed in RED in the file. Please compute any additional ratios if you can. Again you will find all the data in the spreadsheet, to compute the ratios. Inclu..
question1. bell mountain vineyards is considering updating its current manual accounting system with a high-end
Describe how the accounting for intangibles differs under International Financial Reporting Standards - what is an intangible asset
You may also write the journal entries to record each transaction/adjustment. The next installment of a long-term serial bond requiring an annual principal repayment of $35,000 will become due within the current year.
A company had net cash flows from operations of $341,000, net income of $286,000 and average total assets of $1,850,000. The cash flow on total assets ratio equals
Sara decides to set up a retirement fund by depositing $21 at the end of each day for 17 years. How much will she have then, if the interest rate is 6.25% compounded weekly and her account starts with $14,500 already deposited?
Bradley Snapp has deposited $6,000 in a guaranteed investment account with a promised rate of 6% compounded annually. He plans to leave it there for 4 full years when he will make a down payment on a car after graduation. How much of a down payment w..
Analyzing and Reporting Receivable Transactions and Uncollectible Accounts (Using Percentage-of-Sales Method) Compute and show how accounts receivable and the allowance for uncollectible accounts are reported in its December 31, 2014, balance sheet.
Buffalo Company reported a December 31 ending inventory balance of $412,000. The following additional information is also available: The ending inventory balance of $412,000 included damaged goods at their original cost of $38,000. The net realizable..
A pion is created in the higher reaches of Earth's atmosphere when an incoming high-energy cosmic-ray particle collides with an atomic nucleus. As measured in a frame fixed with respect to Earth, how far (on the average) will such a pion move throu..
Prepare a depreciation schedule for all four years of the asset's expected life using the straight-line depreciation method.
The management of Indiana Corporation is considering the purchase of a new machine costing $400,000. The company's desired rate of return is 10%. The present value factors for $1 at compound interest of 10% for 1 through 5 years are 0.909, 0.826,
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