User Account

All Pages

What adjustment should be made in the cost of sales

Assignment Help Financial Accounting
Reference no: EM132982733

Question - On 1 April 2019 Peter purchased 80% of striker. From this date Peter sold goods to striker at a selling price of £36 million. Peter made a profit of cost plus 25% on these sales. £15 million (at cost to striker) of these goods remained in the inventories of striker at 30 September 2019.

Required - What adjustment should be made in the cost of sales of the group statement of profit or loss in respect of unrealised profit for the year ended 30 September 2019?

Reference no: EM132982733

Questions Cloud

What will be the carrying amount for the truck : Pink company purchased a truck on Jan 1, 2019 for $135,000. What will be the carrying amount for the truck on Dec 31, 2020
Prepare the financing activities section of the statement : Prepare the financing activities section of the statement of cash flows for Colony LLC for the year ended December 31, 2017
Prepare journal entries to record the transactions : Prepare journal entries to record the transactions and closings for 2020 (assume the retirements were the first ever recorded by Zen Aerospace)
What was the required journal entry at the beginning : If this budget was formally integrated into the accounting records used to produce the Fund Financial Statements, what was the required journal entry
What adjustment should be made in the cost of sales : What adjustment should be made in the cost of sales of the group statement of profit or loss in respect of unrealised profit for year ended 30 September 2019
What would be the total interest paid : If the interest rate on cash withdrawals is 28%, what was her total bill when she got home? What would be the total interest paid
Calculate the firm predetermined plantwide overhead : Assume that the firm uses machine hours as its overhead cost driver then Calculate the firm's predetermined plantwide overhead rate.
Use the reciprocal services method to allocate the budgeted : Use the reciprocal services method to allocate the budgeted costs of the human resources and computing departments to the deposits and loans departments.
How might you treat optic neuritis : Suppose Henrietta Hen received $20 for her birthday. How might you treat optic neuritis

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

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

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.

  Financial accounting assignment

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

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

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 frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

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

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd