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!
Assignment
Q1.XYZ Company uses a periodic inventory system. The beginning balance of inventory and the purchases made by XYZ during the month of July are given below:
Date
Description
Units
Unit cost
Total cost
July 01
Beginning inventory
500
$20
$10,000
July 18
Inventory purchased
800
$24
$19,200
July 25
700
$26
$18,200
Total
2,000
$47,400
The XYZ Company sold 1,400 units during the month of July.
Required: Compute inventory on 31st July and cost of goods sold for the month of July using FIFO inventory costing method:
Q2. ALPHA Company reported the following year-end information:
Cash
$ 52,000
Short-term investments
12,000
Accounts receivable
54,000
Inventory
325,000
Prepaid expenses
17,500
Accounts payable
106,500
Other current payables
25,000
Instructions:
1- Explain the purpose of the acid-test ratio.
2- Calculate the acid-test ratio for ALPHA Company.
Q3. Maia's Bike Shop uses the periodic inventory system and had the following transactions during the month of May:
May 3
Sold merchandise to a customer on credit for $600, terms 2/10, n/30. The cost of the merchandise sold was $350.
May 4
Sold merchandise to a customer for cash of $425. The cost of the merchandise was $250.
May 6
Sold merchandise to a customer on credit for $1,300, term 2/10, n/30. The cost of the merchandise sold was $750.
May 8
The customer from May 3 returned merchandise with a selling price of $100. The cost of merchandise returned was $55.
May 15
The customer from May 6 paid the full amount due, less any appropriate discounts earned.
May 31
The customer from May 3 paid the full amount due, less any appropriate discounts earned.
Prepare the required journal entries that Maia's Bike Shop must make to record these transactions.
Q.4 What does FOB stand for? Differentiate between FOB shipping point (or FOB factory) and FOB destination?
Acquisition by a foreign company and the effects of that decision and the results of foreign exchange in Euro and the exchange rate differences.
In this essay, we are going to discuss the issues of financial management in a non-profit organisation.
Evaluate venture's present value, cash and surplus cash and basic venture capital.
This document show the Replacement Analysis of modling machine. Is replacement give profit to company or not?
Your company is considering using the payback period for capital-budgeting. Discuss the advantages and disadvantages of this technique.
In this project, you will focus on one of these: the additional cost resulting from the purchase of an apple press (a piece of equipment required to manufacture apple juice).
Review the readings and media for this unit, including the Anthony's Orchard case study media. Familiarise yourself with the Anthony's Orchard company and its current situation.
Organisations' behaviour is guided by financial data. In the short term, such data will help determine operational expenditures; in the long term, historical data may help generate forecasts aimed at determining strategic plans. In both instances.
How much will you have left over each half year if you adopt the latter course of action?
A quoted company is considering several long-term sources of finance for expansion into new foreign markets.
This assignment is designed for analyze Long term financial planning begins with the sales forecast and the key input in the long term fincial planning.
This assignment explain the role of fincial manager, function of manger. And what are the motives of financial manager.
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: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd