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Prepare a store ledger account from the following information adopting the FIFO method of pricing of issues of materials:
1 March
Opening balance
500 tonne at Rs 200
3
Issued
70 tonne
4
100 tonne
8
80 tonne
13
Received from supplier
200 tonne at Rs 190
14
Returned from department A
15 tonne
16
180 tonne
20
240 tonne at Rs 195
24
300 tonne
25
320 tonne at Rs 200
26
115 tonne
27
Returned from department B
35 tonne
28
100 tonne at Rs 200
Hint: Returns from departments on 14 and 27 March are to be assumed out of the immediate preceding issue since no details are given.
Give the proper journal entries for each of the subsequent occurred in 2011.
Is there any profit built in to the value of Work In Process Inventory? Isn't WIP simply the costs incurred on the goods and any progress billings received would be shown as deferred income - until completion?
Prepare any outstanding adjusting journal entries for the year ended March 31, 2013 and post them to the trial balance. Prepare all financial statements in good form for the year ended March 31, 2013.
Per the attached document, could you please explain to me how to calculate the 1900 units under materials and conversion for number of units transferred to the next department under equivalent units of production was calculated?
Prepare a business valuation for 2013 using the market value technique, the book value method, and the multiples-based techniques.
Since easing credit policy generally lengthens the collection period and worsens the aging schedule, why do firms ever ease their credit policies?
Yet fraud continues to be a problem in business. Since codes of ethics usually contain anti-fraud statements, why is fraud still occurring at these businesses?
Prepare all the required journal entries and find the type of fund in which each entry was recorded for the Government Wide Financial Statements.
Material are entered at the beginning of the process, Conversion costs are incurred uniformly during the process. Compute equivalent unit of production for materials and conversion costs for the month of July.
What happens to the discount/premium over the life of the bond? Illustrate what happens to the carrying value?
Fundamentals of accounting assignment - Write up assets, capital and liability accounts in the books of D. Gough
a company acquires a rather large investment in another corporation. What criteria determine whether the investor should apply the equity method of accounting to this investment? Who has a current acquistion example to share?
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