Reference no: EM133029324
Question 1 - During the past year, the following transactions took place between the home office and branchof the Klein Company:
1. Cash of Br.25,000 was transferred to the branch.
2. Merchandise costing Br.60,000 was shipped to the branch at a billed price of Br.86,000. The branch paid the freight-in of Br.1,500.
3. Home office expenses charged to the branch: depreciation, Br.4,000; amortization of prepaid expenses, Br.800.
4. Cash of Br.60,000 was remitted to the home office.
Required - Prepare journal entries to record the following transactions in the books of both the home office and the branch.
Question 2 - Millennium Company's home office bills shipments of merchandise to its Meskel Branch at 140% of home office cost. During the first year after the branch was opened, the following were among the transactions and events completed:
1. The home office shipped merchandise with a home office cost of Br110,000 to Meskel Branch.
2. Meskel Branch sold for Br80,000 cash merchandise that was billed by the home office at Br70,000, and incurred operating expenses of Br16,500 (all paid in cash).
3. The physical inventories taken by Meskel Branch at the end of the first year were Br 82,460 as billed prices from the home office.
Required - Assuming that the perpetual inventory system is used both by the home office and by Meskel Branch, prepare for the fiscal year: All journal entries, including closing entries, in the accounting records of Meskel Branch of Millennium Company.
|
Migrate the existing application and infrastructure
: Migrate the existing application and infrastructure to a cloud based environment utilising dynamically allocated resources and services
|
|
Resource allocation theory
: Use your own example to explain how someone learns, applying the THREE stages of learning (ACT Theory), and Resource Allocation Theory.
|
|
Finances to make project happen
: Read the proposal and make three slides about the following topic. Finances to make project happen, expected profits for BMW, etc
|
|
How might this information help you in your future career
: Consider all the aspects of hospitality managerial accounting that you have learned over the last seven weeks. How might this information help you
|
|
Prepare journal entries to record the transactions
: Home office expenses charged to the branch: depreciation, Br.4,000; amortization of prepaid expenses, Br.800. Prepare journal entries to record the transactions
|
|
Meaning of the words being spoken
: Discuss ways in which nonverbal communication, i.e. tone of voice, demeanor, gestures, age, race, gender and social class, can completely change the meaning of
|
|
What is a opening questioning
: What is a opening questioning and why people use its lots
|
|
Outline of a training program
: WestJet has asked you to quickly develop the outline of a training program for its new reservation clerks. Airline reservation clerks obviously need numerous sk
|
|
Long-term viability of program
: What changes must be made to the culture of your company to ensure the long-term viability of your program? What factors might influence your decision to make a
|