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!
Style It (Pty) Limited signed a contract with Joey (the customer) on the 1 June 2020. The terms of the contract included the following:
- Style It (Pty) Ltd would supply and install a Jacuzzi on the 1 July 2020 after which it would be required to supply and install an shower in the bathroom
- The customer promised consideration of R25 000 payable by the 30th of September at the latest after both the jacuzzi and shower are installed.
- The contract is cancellable in the event of non-performance
- The stand-alone selling prices for the supplied and fitted products are as follows:
- Jacuzzi R20 000
- Shower R5 000
- Style It (Pty) Ltd supplied and installed the jacuzzi on the 1st of July as agreed and the shower on the 5th of August.
- Amount owing by Joey is paid over on the 25 September 2020.
Required:
Prepare the journal entries for the year ended 31st December 2020 in respect of the above transactions in the books of Style It (Pty) Ltd.Marks will be awarded for dates and narrations.
Which of the following factors will affect the spread between spot and forward rates?
A reference page according to APA Guideline Explain how financial statement analysis is useful for internal and external stakeholders; Provide specific example.
Record the transactions in the general journal. If required, round your answers to the nearest cent. If an amount box does not require an entry, leave it blank
Sawaya Co., Ltd., of Japan is a manufacturing company whose total factory overhead costs fluctuate considerably from year to year according to increases and decreases in the number of direct labor-hours worked in the factory.
XYZ Industries total sales were $24,000, fixed costs were $6,300 and variable costs were 70% of sales. Determine the contribution margin in dollars
9,000 units were in process at the beginning of the month and were 40% complete. 8,000 units were in process at the end of the month, and were 70% complete. The company uses weighted average process costing.
What amount of profit would be necessary so that Maxwell would consider the choices to be equal? Salaries traceable to the other partners are estimated
During the month, fixed costs were $16,800 and variable costs were 75% of sales. Determine the contribution margin in dollars, per unit and as a ratio
Create journal entries for your company using the template provided; and (2) complete the Trial Balance at January 31, 2018 using the same template
The bonds without the warrants would normally sell at 95. What amount should Ruiz record on March 1, 2010 as paid-in capital from stock warrants
Positive Accounting Theory assumes that all individual action is driven by self-interest, Why would researchers study particular issues
If tomorrow's Tech decides to forego both options and just produce the regular 18,000 units, calculate the total operating profit for the next year
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