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The following is a list of the assets &"claims" of Docklands Engineering LTD at 31/12/2019: £Trade Payables 86,000Motor Vehicles 38,000 Long Term Borrowing from Industrial Finance Co. 260,000Equipment and Tools 207,000Short Term borrowings 116,000Inventories 153,000Property 320,000Trade Receivables 185,000
Required: Problem 1: Prepare a statement of financial position of the business as at 31st December 2019from the above information using the standard layout. (Hint: There is a missing item that needs to be calculated.)
Problem 2: Discuss the significant features revealed by the financial statement.
Prepare the journal entrie Prepare the journal entry to record item 1. Prepare the journal entry to record item 2. Prepare the journal entry to record item 3 using the cost method.s to record the above transactions.
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Carla Janes and Associates incurred total costs of $10,000 to produce 500 custom mirrors. A total of 550 direct labor hours was required for the production of the mirrors. Direct labor is variable and costs $10 per hour. How much fixed cost did Carla..
A corporation issued 5,000 shares of its $1 par value common stock in exchange for land. What is the journal entry to record this transaction
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five-year project has an initial fixed asset investment of $345,000, an initial NWC investment of $37,000, and an annual OCF of -$36,000. The fixed asset is fully depreciated over the life of the project and has no salvage value
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