Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
An inventory taken the morning after a large theft discloses P60, 000 of goods on hand as of March 12. The following additional data is available from the books:
Inventory on hand, March 1 P84,000
Purchases received, March 1 - 11 P63,000
Sales (goods delivered to customers) P120,000
Estimate the inventory of goods on hand at the close of business on March 11 by the gross profit method and determine the amount of the theft loss. Show appropriate titles for all amounts in your presentation.
Questions:
Question 1. Past records indicate that sales are made at 50% above cost.
Question 2. Past records indicate that sales are made at 25% above sales.
What are the average accounts payable for APP? A chain of appliance stores, APP Corporation, purchases inventory with a net price of $500,000 each day.
What is the net present value of this investment opportunity? Based on your answer to (a) above, should Axillar go ahead with the new conditioning shampoo?
Accounts Receivable of the Chalet Housing Co. on December 31, 2013, had a balance of $550,000. Allowance for Bad Debts had a $4,500 debit balance. Sales in 2013 were $3,450,000 less sales discounts of $51,000. Give the adjusting entry for estimated B..
Explain the difference between a minor breach and a material breach to your client. how each party can be discharged from their liabilities.
What amount should Slide report as the cumulative effect on the statement of retained earnings - What amount of cumulative effect of this accounting change in its income statement for the year ended December 31, '10?
Read the email the junior accountant sent you and identify the best next step to take in the accounting cycle. Write 1-3 sentences explaining your reasoning.
Franco and Jason share income and losses in a 2:1 ratio after allowing for salaries to Franco of $15,000 and $30,000 to Jason. If the partnership suffers a $15,000 loss, by how much would Jasons capital account increase?
Discuss, with reasons, the appropriate date of acquisition of Beta Ltd in the consolidated annual financial statements of Oxygen Ltd for the year ended 31 December 2003.
On the sale of his principal residence, Cameron realized a $50,000 gain. Explain how much of the gain is Cameron allowed to exclude from his 2012 gross income?
The cost to sell for each product consists of a 20 percent sales commission. The normal profit percentage for each product is 30 percent of the selling price.
Journalization of transactions for production costs as like of raw materials, labor, processing and overhead using transferred goods data and details.
How much warranty expense is reported for January 2011? What is balance of the Estimated Warranty Liability account as of December 31, 2010?
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd