Reference no: EM132826509
Problem 1: On the eve of February 14, a fire destroyed the entire merchandise inventory of Dee Merchandising. the merchandise were not insured with any insurance company. The following data were gathered: Inventory, January 1 - ? 250,000; Purchases from January 1 to February 14 - ?1,500,000; Sales from January 1 to February 14 - ?2,000,000; Mark up percentage on cost - 25%. What is the approximate inventory loss as a result of the fire?
a. ? 312,500
b. ? 1,500,000
c. ? 150,000
d. ? 250,000
Problem 2: EE Company prepares monthly income statements. A physical inventory is taken only at year-end, hence, month-end inventories must be estimated. All sales are made on account. The rate of markup on cost is 50%. The following information relates to the month of April: Accounts receivable, April 1 - ?102,000; Accounts receivable, April 30 - ?153,000; Collection of accounts receivable during April - ?255,000; Inventory, April 1 - ?183,600; Purchases during April -?163,200. How much is the estimated cost of April 30 inventory?
a. ? 142,800
b. ? 224,400
c. ? 193,800
d. ? 122,400
|
What amount of investment must be made by each partners
: X is entitled to a drawing account credit of P100,000, Y of P70,000 and Z of P50,000 per annum. What amount of investment must be made by each partners
|
|
List the four rules of ethical decision making
: Describe an "ethical dilemma" and how our view of that dilemma today might be different five years from now.
|
|
Calculate the quantity of abnormal loss or abnormal gain
: During the period, 3,500 litres of the material were input and the actual output was 3,000 litres. Calculate the quantity of abnormal loss or abnormal gain?
|
|
Disadvantages of types of departmentalization
: In other words, discuss the various advantages and disadvantages of these types of departmentalization as they apply to Green Furniture.
|
|
How much is the estimated cost of april inventory for ee co
: EE Company prepares monthly income statements. A physical inventory is taken.How much is the estimated cost of April 30 inventory?
|
|
Determine the value of the second payment
: Determine the value of the second payment if interest is 8% p.a. compounded semi-annually, and the focal date is when the final payment is due
|
|
How will you use the ideas moving forward in the course
: Listen to the Podcast by Malcom Gladwell, titled, "Miss Buchanan's Period Of Adjustment". Listen to it very carefully. When you are finished, think about.
|
|
Find the angle between A and B
: Evaluate G in the cylindrical coordinate system at point P. a) G = ap + 2az and find the angle between A and B.
|
|
What is a current emergency management
: Using the Risk Paradigm and the "Whole of Community" concepts of work when conducting risk assessments.
|