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Sundry Matters
1) The accounting system is also appropriate for departmental accounts.
2) The branch stock account is a practical means of controlling stock at the branch. Supervisors can quickly ascertain the selling price of stock at a branch and compare this with the balance shown in the head office books. Such spot checks will bring to light:
3) This method prevents branch staff from knowing the cost of goods being sold and preserves secrecy with regard to profits.
4) Ascertaining the percentage or fraction to deduct from invoice price may cause some students difficulty. No doubt it is appreciated that the percentage to be deducted from the selling price is not the same as that which is added to cost, e.g. If 33 1/3% is added to cost to arrive at invoice price then 25% must be deducted from selling price to get back to cost.
Calculation of BEp
For this question you will use the dataset "murder.xls", which includes: • rate = Murder rate per 100,000 • convictions = Number of convictions divided by number of murders • execu
Assume that we are in December 2009 and try to make forecasts of the five year interest rate at the end of January 2010. For this question , you just need to fill out the blank s
At current the working capital cycle is Receivables days $0.4m/$10m * 365 = 15 days Inventory days $0.7m/$8m * 365 = 32 days (cost of sales = $10m - $2m) Payables days $1.
How do I prepare a partial income statement under each inventory method?
Assume your grandparents have just given you $20,000 on the condition that you invest the money in the stock market. As you contemplate making your investment choices, what account
Small Business Stock -No corporate investors can exclude up to 50 percent of the GAIN they realize on disposition of qualified small business stock issued after Aug. 10, 1993 and h
The purchase of a car needs a $23,410 loan to be repaid in monthly installments for 4years at 12% annual real interest rate. If annual inflation rate is 4%, find the extra amount t
Mr. Wong currently running a small manufacturing business. The Trial Balance of the business at 31 March 2011 is as follows:
Fakari had the following asset at the ending of the year 2013 having started the business at the beginning of the same year. kSH.000 Account payables 15,800 equipment 46,000
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