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Question - Accounting for Inventories Using the perpetual inventory system, record the following transactions in the general journal of Fitzroy Ltd, assuming the business is registered for GST. All figures are GST inclusive.
1. Purchased 240 units for $242 (incl. GST) each on credit.
2. Returned 12 units to the supplier.
3. Sold 48 units for $418 (incl. GST) each on credit.
4. Purchased office supplies for $396 (incl. GST) cash.
5. Customer returned 6 of the units sold in (3).
6. Sold 42 units for $429 each on credit.
7. The physical inventory count at the end of the period consisted of 140 units of inventory.
Record any required adjusting entry(ies) for inventory shortage expense.
Which Generally if more than one policy provides coverage for a specific loss? Each carrier pay a portion of the loss that is proportionate to the limit
If the school receives actual sales orders for 780 shirts, what amount of profit will the school earn? What is the cost of waste due to excess inventory?
Determine the companys predetermined overhead rate using direct-labor cost as the single cost driver and determine the full product costs and selling prices of one pound of Kona coffee and one pound of Malaysian coffee.
By the fiscal year-end of June 30, 2009, the local government had raised only $5,000 from other donors. What entry would be made for the initial pledge by the local government during the year ended June 30, 2009?
Indicate and analyse how the COVID-19 situation can affect working capital management decisions in a fashion retail outlet company.
NOW Technology stock at $6 in Christmas 6 years ago. In Christmas of 2019 she sells the stock at $26 per share. What is Felice's internal rate of return?
The company's net cash from operations equals $40M and they plan on borrowing $10M this year. Can they do it? What options can the company consider?
Construct the stockholders' equity section of the balance sheet at the end of the year. (Amounts to be deducted should be indicated with a minus sign.)
Determine the depreciable cost, the depreciation rate, and the units-of-production depreciation for the year.
Which the financial statement that shows the profitability of the business is? What is the vertical analysis of an Income Statement and what use it has.
What does the IRR rule say about whether you should accept this? opportunity? If the cost of capital is 8.2%?, what does the NPV rule? say?
Other gold mining ?rms have an average beta of 0.8 and a debt to equity ratio of 1(3. How could Smiley reduce its equity cost of capital
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