Solution-Compute the billing rate, The following

Compute the billing rate

Assignment Help Accounting Basics

Reference no: EM132637918

Question - LEARNING ACTIVITY - SPECIAL PROBLEMS ON HOME OFFICE AND BRANCH

The following was taken on from the records of a branch:

Sales by branch 350,000

Billing to branch by home office 312,500

Operating expenses 50,000

Ending inventory at billed price 125,000

The following information was taken from the records of home office:

Branch Current account 325,000

Shipment to branch 250,000

Allowance for markup-unadjusted 62,500

Required - Compute for the following:

1. Billing rate

2. Sales by branch to be included in combined financial statements

3. Realized mark up or RGP

4. Cost of goods sold to be included in the combined financial statements

5. Ending of inventory of branch to be included in the combined financial statements

6. Unrealized markup in ending inventory

7. Ending balance of allowance for markup before the combining of financial statements

8. Individual profit of branch

9. True profit of branch

10. Adjusted balance of the branch current account prior to combining of financial statements

Reference no: EM132637918

Questions Cloud

Confidence interval for the var estimate : The one-day changes are approximately normal with mean zero and standard deviation $5.5 million. Estimate a 99% confidence interval for the VaR estimate

Create security plan for the cloud : Use the Cyber Security Framework (CSF) to create a security plan for the Cloud.

Explain why investment risk profiling is essential : Explain Investment risk profiling is essential, now more than ever, due to turbulent market Conditions to ensure that investor minimise their investment losses.

Var for a portfolio containing options : Explain why the linear model can provide only approximate estimates of VaR for a portfolio containing options.

Compute the billing rate : The following information was taken from the records of home office: Branch Current account 325,000. Compute the Billing rate

ERM Management : What are the business Opportunities that can be leveraged in the wildfire crisis, and what are the business risks ?

Firm net working capital using market values : What is the firm's net working capital using market values? (Round intermediate calculations and final answer to the nearest whole dollar, e.g. 5,275.)

Analyse the takeover of fairfax media ltd : Analyse the takeover of Fairfax Media Ltd by Nine Entertainment Co Holdings Ltd (ASX: NEC) in 2018. You should analyse the deal based on information available

Explain the disadvantages of using social media tools : What are some of the advantages and disadvantages of using social media tools in the recruitment process? What type of policies should organizations implement.

User Account

All Pages

Compute the billing rate

Reference no: EM132637918

Reference no: EM132637918

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT