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X Ltd. Of Kaula Lumpur consigned 100 cases of goods to Mr. Y in penang. The consignment account appeared in the ledger ofX Ltd. Was shown below
Cases
$
Goods on consignment
100
7,000
Bank- carriage
400
- Return
5
350
Bank- insurance
200
Consignee -sale
60
10,000
Bill receivable
Stock c/d
?
-Discount charge
25
Consignee
-warehouse charge
190
-selling expenses
120
-commission
500
-bad debts
65
What is the value of unsold stock?
The total cost of a fleet of lorries is $ 180,00 and theresidual value after five years is $20,00. Using thediminishing balance method find the rate of annualdepreciation?
A company has opening balance of $ 10, 00,000 in its fixed asstsaccount. Accumulated depreciation was $6, 00,000. There was anaddition of fixed assets of $5, 00,000 at the beginning of yearwhile there was no sale of fixed asset. Prepare fixed assetsschedule if the depreciation is charged for the year @15% onoriginal cost
A new ice cream machine has been added to Dairy Queen - It is expected to add $100,000 in sales in year 1 increasing by $25,000 per year thru year 10 ( 10years total) what is the present value of these future sales if interest is 8%
The risk-free holding period return for the next six month is 4 percent, which corresponds to an 8 percent annual rate.
Please explain, identify, and justify effective funding strategies in the following areas:
Tina and Betty formed a partnership. Tina received a 40 percent interest in the partnership in exchange for land with an adjusted basis to her of $60,000 and a fair market value of $80,000.
So what is the effect of a bargain purchase option on accounting for a capital-lease transaction by a lessee?
In 2009, assume that you start with a salary of $100,000, will receive a 3% raise each year, and the interest rate expected will be 6%. You plan to retire in 40 years and draw retirement pay for 20 years.
At the date of transfer, Demers records carried the equipment at a cost of $120,000 less accumulated depreciation of $48,000. Straight-line depreciation is used. Demers reported net income of $28,000 and $32,000 for 2006 and 2007, respectively.
Which of the following businesses would not report cost of sales on their income statements?
Prepare a schedule starting with pretax financial income and compute taxable income. Prepare the journal entry to record income taxes for 2011.
Describe the components of the common body of tax law (CBOTL). Include in your response answers to the following questions:
During the year the partnership incurs a $120,000 loss. How much of the loss can Karen report on her tax return for the current year?
On the following facts about an Enterprise Fund for a utility operation: Invested in capital assets, net of related debt, would be?
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