User Account

All Pages

Make a journal entries for shinwari construction

Assignment Help Financial Accounting
Reference no: EM132776845

PAKISTAN HARDWARE

Selected transactions for the year:

Nov. 5 Sales price of lumber on account to Shinwari Construction $13,390

Cost of lumber sold on account to Shinwari Construction 9,105

Nov. 9 Purchase price of tools on account from Pakistan Power Tool 3,800

Dec. 5 Cash collected on receivable from Shinwari Construction 13,390

Dec. 9 Cash paid on account to Pakistan Power Tool 3,800

Dec. 31 Cost of inventory on hand 182,080

Inventory according to accounting records 183,790

Cost of goods sold according to accounting records 695,222

Additional information:

Net sales for year 1,024,900

Range of additional transportation costs $18,000 to $20,000

Average nets sales for industry 1,000,000

Average gross profit margin for industry 25%

Required:

Problem (a) journal entries for Shinwari Construction?

Problem (b) journal entries for Pakistan Power Tool?

Reference no: EM132776845

Questions Cloud

Journal entries for both lessee and lessor company : Journal Entries for both Lessee and Lessor Company. At the end of the lease term the machinery will revert back to Lessor Company.
Show the statement of financial position of hudson plc : Show the statement of financial position of Hudson plc immediately the two share issues. Hudson plc's outline statement of financial position as at a particular
Explain the importance of a brand to an organisation : Explain the importance of a brand to an organisation.
Describe the conflict on the workplace : Describe the conflict on the workplace you had and how did you solve that?
Make a journal entries for shinwari construction : Make a journal entries for Shinwari Construction? Nov. 5 Sales price of lumber on account to Shinwari Construction $13,390. Cost of inventory on hand 182,080
Directorate compete in international markets : How can a military unit's IT Directorate compete in international markets?
Discuss the three types of restructuring strategies : Discuss the three types of restructuring strategies and provide real-word examples of instances when each has been used. Cite any sources used to support your a
What the journal entries for metro shoes : Should Urban Sole take advantage of 1/10, n/30 cash discounts even if it must borrow money at an annual rate of 11%? Explain fully
How you would identify presence of specific health hazards : For each area of concern, discuss the following as it applies to the methodologies of health hazards: how you would identify the presence of specific health.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd