User Account

All Pages

Draw up a priced store ledger card for the materials

Assignment Help Accounting Basics
Reference no: EM132597519

The following is an extract of the records of the receipts and issues of a chemical during a month:

1 Feb: Opening balance 500 tonnes @ Rs 200

3 Feb: Issued 70 tonnes

4 Feb: Issued 100 tonnes

8 Feb: Issued 80 tonnes

13 Feb: Received 200 tonnes @ Rs 190

14 Feb: Return from Department 15 tonnes

16 Feb: Issued 180 tonnes

20 Feb: Received 240 tonnes @ Rs 195

24 Feb: Issued 300 tonnes

25 Feb: Received 320 tonnes @ Rs 200

26 Feb: Issued 115 tonnes

27 Feb: Returned from Department 35 tonnes

28 Feb: Received 100 tonnes @ Rs 200

Question 1: Issues are to be priced on the principle of First in First out. The stock verifier has found a shortage of 10 tonnes on the 22nd and left a note accordingly. Draw up a priced store ledger card for the materials showing the transaction

Reference no: EM132597519

Questions Cloud

Find what are the facts relating to the proposed settlement : What are the facts relating to the proposed settlement? What is the best alternative for Chris Meyers?Who are the stakeholders in this situation?
Testify about profiling report : What are some reasons "why" an criminal profiling expert may not be alllwed to testify about a profiling report.
How does brenda reinforce or go against the stereotypes : Narrate your experience of watching the "Christian/Atheist" episode of 30 Days. Do you think all of the participants in the episode were communicating.
How do affect the accounting of the lease : What kind of condition which makes a sale transaction and a financing transaction? How do they affect the accounting of the lease? Explain in detail.
Draw up a priced store ledger card for the materials : The stock verifier has found a shortage of 10 tonnes on the 22nd and left a note accordingly. Draw up a priced store ledger card for the materials showing
Prepare the necessary journal entries : Prepare the necessary journal entries if the wages and salaries paid and the employer payroll taxes are recorded separately
What is the correct net present value for the project : What is the correct net present value for the project? (Make the necessary corrections to the cash flows and discount rates for the three errors noted
Find what is the gross profit to be recognized by the entity : Find what is the gross profit to be recognized by the entity for the year ended December 31, 2020 in relation to the initial franchise fee?
Dissatisfaction for any reason and file grievance : In labor relations, an employee may be discontent or have dissatisfaction for any reason and file a grievance.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd