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Question:
Shoogi Perak Limited is a manufacturer of pictures tubes used in assembling T.V sets. The subsequent are details of their operation during 2006. The expected demand for tubes is 1,000 tubes per month. Purchase price of each tube is RM60. The ordering cost which adds staffing cost, incurred by the purchasing departments at RM120 per order. The forwarding and freight cost per order is RM80. The company also needs to rent additional warehouse for storing the tubes at the rate of RM8 per tube. The breakage cost is related at 12% of the purchase price. Insurance and Taxes charged on the inventory are related at RM1.80 per tube. Determine ordering cost per order?
Why might planning materiality differ from the materiality level used in evaluating audit findings? What official quantitative guidelines exist for financial statement materiality? Identify one of the quantitative guidelines commonly used in practi..
Tidwell, Inc. has weekly credit sales of $19,400, and the average collection period is 34 days. The cost of production is 75 percent of the selling price. What is the average accounts receivable figure?
At each calendar year-end mazie supply co. uses the percent of account receivable method to estimate bad debits. On December31,2013 it has outstanding accounts receivable of 55000 and estimated that 2% will be uncollectible.
Identify and analyze the types of risks that organizations face and to apply the applicable risk knowledge to understand and perform better audits.
Describe your responsibilities related to unadjusted misstatements that management has determined are immaterial individually and in the aggregate. Assuming this company is a public company, describe how the noted adjustments might impact your aud..
What are the organizational implications when most managers have different or similar values?
Journalize the following transaction using the direct write-off method of accounting for uncollectible receivables.
As an independent financial consultant, you have been hired to audit the books of a multifaceted special events organization. Upon examination of the records, you determine that management intentionally commingled funds between the different divis..
The most common types of pension plans are the defined-contribution plan and the defined-benefit plan. Discuss the advantages and disadvantages of each.
What are the standards or legislations that management and auditor complied with as according to directors' responsibility paragraph and auditor's responsibility paragraph in the audit report?
question 1. explain the role of the following three bodies in national health reform and the implementation of activity
On September 1, 2011, Triton Entertainment borrowed $24 million cash to fund a new Fun Park. The loan was made by Nevada Bank under a non-committed short-term line of credit arrangement. Prepare journal entry for the issuance of the note by Triton.
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