Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question: JOHNSON (PTY) LTD is a South Africa entity engaged in the distribution of household products through its chain stores through the country. The company purchase all its products from suppliers who are registered vendors. The sales composition costs of the follows: (i) 75% standard rated taxable supplies, (ii) 10% zero-rated supplies, and (iii) 15% exempt supplies.
The company purchased a second-hand scanning equipment at a total cost of R 1 200 000 from a non-registered vendor. The scanning equipment will be used in the centralised distribution warehouse to keep track of and update the inventory records for the chain stores. The market value of the scanning equipment was R 1 000 000.
On 30 June 2022 the company sold goods to one of its customers, Xtrail (Pty) Ltd, that will sell the products in the rural areas - a market that the company has not yet established it footprint. The company sold goods with an invoice value of R 6 000 000 (excluding VAT) in terms of an agreement which required a deposit of 20% and the balance will be settled six months after the date of sale. No interest is charged on this transaction. The estimated market effective interest rate amounts to 8%. The accountant recorded the following transaction at the date the goods were sold:
You are required to:
Review the transaction recorded by the accountant for the sale of goods to Xtrail (Pty) Ltd; and discuss whether it complies with the accounting standards.
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
Prepare the journal entry to record the acquisition of the assets.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd