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!
Indera Bhd sold a freezer to Tasty Bhd under hire purchase scheme on 1 November 2018. The selling price and cost of goods sold for the freezer are RM12,000 and RM7,000 respectively.
Indera Bhd required Tasty Bhd to pay a deposit of RM6,000. The hire purchase period is 18 months which due at the end of each month starting from 30 November 2018. The interest rate for the hire purchase agreement is 8% per annum.
Indera Bhd recognized interest using the sum of years' digit at the end of accounting period which is on 31 December every year. Sales method is applied to record the hire purchase transaction and the gross profit is recognized based on collection.
Question 1: Calculate gross profit realised for the year 2018. What are the relevant journal entries for Indera Bhd on 31 December 2018.
Question 2: How is it presented in Statement of Profit or Loss for the year ended 31 December 2018
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