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Previous Years
Sales 1400 Retained Earnings 170
Costs 900 Dividends 180
Tax rate 0.3
Assets Liabilities/Equity
Current Assets Current Liabilities
Cash 460 Creditors 600
Debtors 540 Short Term Notes 100
Inventory 600
Non-Current Assets Non-Current Liabilities
PP&E 2000 Debentures 900
Total Assets 3600
Owner's Equity
Retained Profits 1000
Ordinary Shares 1000
Percentage of Sales Approach - Assume all spontaneous variables move as a percentage of sales.
Question a) Given an expected increase in sales of 12%, what is the amount of external funding required?
Question b) To maintain the current debt/equity ratio how much debt and how much equity is required?
Question c) Assuming the company is only operating at 95% capacity, how much new funding (if any) is required?
Decision on proposal where contract price is lesser than variable cost - What in house costs should be used to compare with the proposal received from the contractor?
Prepare the two journals to record the allocation of profit as at 30th June 2014, using Method 2 and prepare the Retained Earnings account for John as at 30th June 2014.
Describe the reason for any difference in the ending inventory balances under the two costing methods and the impact of this difference on reported net operating income.
Midas Ltd believes that several assets in Queen Ltd's balance sheet are carried well. How the profit of Queen Ltd would be recognised in Midas Ltd's.
The following costs are included in a recent summary of data for a company: advertising expense, $100,000; depreciation expense - factory building, $148,000; direct labor, $265,000; direct material used, $315,000; factory utilities, $120,000; and sal..
Southern company owns a building that it leases. The building's fair value is 1400000 and its book value is 800000( cost 2,000,000 - accum depre 1,200,000). Southern exchanged this for another building owned by the Eastern company. The building book ..
The firm has a 75% chance if it invests -$1,500 a return of $500 for 7-years, and a 25% chance of returning $25 for 7-years. Based on the above data, what is the project's net present value?
The following Statement of Cash Receipts and Disbursements was prepared by the bookkeeper of the City of Brookdale City Museum of Science. The museum is a component unit of the City of Glass City and must be included in the city’s financial statement..
The Gilster Company, a machine tooling firm, has several plants. One plant, located in St. Falls, Minnesota, uses a job order costing system for its batch production processes. The St. Falls plant has two departments through which most jobs pass. Pla..
Milsaps Company produces sportsmen’s digital scales. In preparing the current budget, Milsaps’ controller estimates a total of $294,000 in direct materials cost, $231,000 in direct labor cost, and $279,510 in manufacturing overhead costs. What is Mil..
ACCT 540 Financial Accounting Assignment Questions. Prepare a complete classified (multiple-step) consolidated statement of income for the company
Kelly's Garden supplies have opened up a wholesale nursery delivering seedlings to towns in Southern NSW. Because of the fragility of the product it is decided to establish a distribution centre to become a central hub within a 2 hour drive of all..
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