User Account

All Pages

What amount for the cost of sales in the statement

Assignment Help Financial Accounting
Reference no: EM132643480

Pre-adjustment trial balance as at 28 feb 20.8 R130000 (Cr)

Cost of sales R106250 (Dr)

Sales returns R2500

Sales

Inventory (1 March 20.7)

Stationary R1625

Packing material R5750

Additional information

a. A physical inventory coint revealed that the followimg was on hand on the 28 february 20.8

1. Inventory R38150

2. Stationary R625

3. Packahing Material R150

Problem 1: The amount for the cost of sales in the statement of profit or loss and other comprehensive income for the year ended 28 february 20.8 will be:

1. R105,325

2. R106,250

3. R105,700

4. R103,750

5. R103,200

Reference no: EM132643480

Questions Cloud

Make the t-accounts for each account : Make the T-accounts for each account, enter the unadjusted balances, post the adjusting journal entry, and report the adjusted balance.
Find the utility of the optimal complete portfolio : The market portfolio represented by the S&P 500 has a 12% expected return & 20% risk. The risk-free rate = 5% & the investor's risk aversion coefficient A =
What does goodwill represent that arose from big acquisition : What is goodwill? How does goodwill arise? What does the goodwill represent that arose from BIG's acquisition of JWMS? In other words, what did BIG pay
What is the ear if the apr is 9 percent compounded monthly : You want to have $44,757 in your savings account 17 years from now, and you're prepared to make equal annual deposits into the account at the end of each year.
What amount for the cost of sales in the statement : What amount for the cost of sales in the statement of profit or loss and other comprehensive income for the year ended 28 february 20.8 will be
Discussion about the demand and supply conditions : Discussion about the demand and supply conditions for your product(s) or service(s) - An analysis of the market structure of the industry
How to eliminate intragroup loan and interest fee : How to eliminate intragroup loan and interest fee Here is the scenario The subsidiary l has 3 years loan to the parent company of 30,000
What is the best estimate of the firm borrowing cost : If Firm A intends to issue 15 year bonds to fund this project, what is the best estimate of the firm's borrowing cost? Answer should be in decimals.
What is the effective annual rate on loan : Crazy Cliff's Car Coral has offered to sell you a used Mustang for $15,000. You are required to make a $3,000 down payment and weekly payments

Reviews

Write a Review

Financial Accounting Questions & Answers

  What was the total cost of the function

According to the activity-based costing system, what was the total cost (including the costs of raw ingredients) of the function mentioned.

  After her employer transferred her to another town

After her employer transferred her to another town, Rosemary put her house up for sale. After two years of Internet listings, open houses, repairs, and price cuts, a buyer finally came along. By this time, the house had sat empty for 25 months before..

  What part of the libertys annual report

What part of the liberty's annual report is written by the company and could present a biased view of financial conditions and reports?

  Make a financial analysis on amazon using public information

Prepare a financial analysis on Amazon using public information such as the company's annual report, SEC 10-Q and 10-K. COVID-19 impact on the company Amazon

  Define straight-line amortization

Southlake Corporation issued $900,000 of 8% bonds on March 1, 20X1. The bonds pay interest on March 1 and September 1 and mature in 10 years. Assume the independent cases that follow.

  What is the cost of equity

The market price of the stock is $24.09 and the growth 2.6 percent. What is the cost of equity?

  Determine the amount of revenue - cost and gross profit

Determine the amount of gross profit or loss to be recognized in each of the three years using percentage of completion method and how much revenue will San report in its 2011 and 2012 income statement related to this contract using the percentage-..

  Identify all of the financial statement elements t

Using the letters above, identify all of the financial statement elements that describe levels or amounts of resources or claims to or interests in resources at a moment in time. Using the letters above, identify all of the financial statement elemen..

  How much money was distributed in total for dividends

Received an $80,000 dividend on their shares, which are cumulative and fully participating. How much money was distributed in total for dividends?

  Prepare the jornal entry to retire the bonds

The company retired these bonds by buying them on the open market at 98. Prepare the jornal entry to retire the bonds.

  How would you explain the misunderstanding to the owner

This confused the owner, who argued: ‘My equity is my major asset and so should be shown as an asset on the statement of financial position." How would you explain this misunderstanding to the owner?

  Compute the additional profit that bandaleria would earn

Compute the contribution margin ratio. Using that ratio, compute the additional profit that Bandaleria would earn if sales were $50,000 more than expected.

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