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Problem - Entity A's inventories on December 31, 20x1 have a cost of P1 00,000 and a net realizable value of 80,000. Accordingly, Entity A recognized a write-down of inventories of 20,000. Shortly after December 31, 20x1, but before the financial statements were authorized for issue, the inventories were sold for a net sale proceeds of 70,000. Find the correct amount of inventory write-down to be reported in Entity A's December 31, 20x1 financial statements?
Whay is the importance of the statement of cash flow in the financial management of an organization?
Manufacturing costs are P5.25 per box and fixed manufacturing overhead costs total P1,375 for the year. What is the company's direct costing net income?
Prepare quantity schedule and compute the equivalents units. All materials are added at the beginning of work in the Blending Department.
LSMU makes decorative flower pots. Each flower pot sells for a revenue of $10. What is the expected value of the revenue for next year for LSMU
Prepare a cost of goods manufactured schedule and prepare an income statement through gross profit.
Included in the Acceptance Testing will be verification of the system outputs, ie reports etc. What types of activities could Andrew include in the Acceptance Test to provide evidence that the system is operating correctly?
Prepare a variance report for the purchasing department with the following columns. Prepare a variance report for the production department with the following columns.
Calculate the net present value. A corporation is considering purchasing a plant asset. The asset will cost $90,000. The business estimates
Prepare a schedule showing the division of net income and prepare a partners capital statement for the year under assumption (3)above.
qevidence comes in several types and has different degrees of reliability.subsequent are some statements that compare
question 1 perform the acl tests. hand in a report illustrating the audit tests and your conclusions about the results
One reason for inventory is to prevent shutdowns. How does JIT or Just In Time approach to inventory management deal with this potential problem?
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