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Question - The following data relates to Nyasuguta Ltd for the period ended 30th June, 2017
Opening stock
Raw materials 10,000
Work in progress 5,000
Finished goods 6,000
Closing stock
Raw materials 8,000
Work in progress 4,000
Finished goods 10,000
Purchase of raw materials 50,000
Carriage inwards 5,000
Direct wages 28,500
Plant, Rent rates and electricity 1900
Depreciation, maintenance 2250
Managers salary 2000
Office rent and rates 950
Salaries and Remuneration 2600
Sundry expenses 500
Advertisement and salesman 4000
Carriage outwards 500
Required - Prepare cost statements in good form to show i. Production cost and ii. Profit for the period.
Jones Co. can further process Product B to produce Product C. Product B is currently selling for $30.00. Determine the differential cost of producing Product C.
On September 1, 2006, Sam's Shoe Co. issued $350,000 of 8% bonds. The bonds pay interest semiannually on January 1 and July 1 of each year. The bonds were sold at the face amount. How much cash did Sam's receive upon sal of the bonds?
Kohler Corporation reports the following components of stockholders' equity on December 31, 2015: Prepare journal entries to record each of these transactions
Question - Prepare the entries to record the initial capital investments, the allocation of net income and close the partners' withdrawal accounts
Acquired a tract of land with an existing building in exchange for 50,000 ordinary, What is the total increase in land as a result of the acquisition?
In the absence of restrictive provisions, what are the basic rights of stockholder's of a corporation? What factors influence the dividend policy of a company
Assume that the company uses the weighted-average method of accounting for units and costs. Determine the costs per equivalent unit for May
Research basic methods of conflict resolution in the workplace (i.e., open door policy, neutral third parties). Identify three of these methods
Where on the balance sheet should a 20 year, 12% bond, due 1/1/2013 for $500,000 be listed. Is it a current liability or a long term liability?
Merchandise is sold on account to a customer for $12,500, terms FOB shipping point, 1/10, n/30. The seller paid the freight of $400. Determine the following:
Describes a hybrid accounting information system? Way of working, organising or doing something that is composed of elements of two separate systems.
What is the purpose of the EUP calculation? What is the assign and reconcile the cost as part of the processing cost system
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