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!
Lucia works as an accountant for a motor vehicle engine parts manufacturer called Vroom Ltd, owned by an international car firm. Her manager, Freda Chuse, is paid a bonus depending on the profitability of the company. If Vroom Ltd makes $1 million profit, Freda receives a bonus of $20 000 that increases progressively to $30 000 for a $3 million profit. If the profit of Vroom Ltd exceeds $3 million, Freda receives the maximum bonus of $30 000. Vroom Ltd currently receives a grant from the government of $100 000 per year to employ and train apprentice mechanics. At the end of May, it appears that Vroom Ltd will make a profit of approximately $3.5 million for the year ending 30 June 2016. Freda approached Lucia and said that if the company made too much profit then the government may stop paying Vroom Ltd the grant for training apprentice mechanics, and it would lose the $100 000 tax-free cash inflow. Freda instructed Lucia to find ways of deferring recognition of as much revenue as possible until the following financial year, for which the forecasts for the industry were quite poor, and to accrue as many expenses as possible at the end of the current accounting period when it came to making the end-of-period adjustments. Although Lucia was not happy with this instruction, she did not want to risk her own opportunities for promotion by upsetting her manager.
Reliance Corporation sold 4,900 units of its product at a price of $24 per unit. Total variable cost per unit is $13.00, consisting of $12.25 in variable production cost and 0.75 in variable selling and administrative cost. Compute contribution margi..
Determine how to calculate the depreciation expense for year five. A company purchased a building for $210,000 with a service life of 10 years.
Journalize Goode and Devlin's (a) service revenue, (b) cash collections on account, (c) write-offs of uncollectible receivables
period equals $20,000 and expenses equal $11,000 what is equity at the end of the period? Assume these are the only changes in equity for the period
An average tax rate of 10%, how much of a tax deduction will he receive for making a $10,000 contribution to his RRSP
It was estimated that the gross profit on goods shipped to agency averages 25%. How much is the net income (loss) of the agency
Make the entry to record the sale on December 31, 2020 using the residual value method, assuming the stand-alone value of the warranty
Record the admission of Mr. Z in the general journal. The total Capital of firm increase by MR. Z investment. Mr. T is partners having capital balances
Are you obligated to make disclosures to these partners in order to continue to perform this engagement? Is there a remedy for this conflict of interest?
She promised to pay the principal and 11.75% simple interest on November 15, 2017. How much did Elmer receive on the said date
What amount of bad debt expense will Mohan report in its income statement for the current year? Mohan Company estimates its uncollectible accounts by aging
Post the account to relevant ledger account. Extract a trial balance as at 30th June 2012. Explain difference between a 'cash discount' and a 'trade discount'
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