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Walker runs a business as a plumber. The trial balance, and additional information, of the business as on 31 December 2011 was as follows:
Required:
a) Using ONLY the data provided in the initial Trial Balance, prepare an income statement for the year ended 30 September and a balance sheet as at that date for Joe.
b) Update the income statement and balance sheet showing the effect of the further information. Your workings must be clearly presented in the revised accounts and supporting notes/calculations.
c) Discuss, with reasons, which accounting concepts and conventions you have used in the preparation of the financial statements. Your discussion should be 600 words. Each concept requires a clear reference.
Purpose a report that reconciles the total costs assigned to the ending work in process inventory and the units transferred out with the costs in beginning inventory and costs added during the period.
Record all necessary depreciation and amortization entries on December 31, 2009 and prepare a partial balance sheet for Withers on December 31, 2009.
As part of the audit, you must assess the operating effectiveness of controls related to the misstatement. Illustrate what additional information, if any, is needed to complete your assessment?
To evaluate whether the system of internal accounting control operated efficiently to minimize errors of failure to invoice a shipment, the auditor could select a sample of transactions from the population shown by the
Evaluation of Market value of bond at various rates and How much is it worth at a market rate of 8 percent?
She would like to receive a refund of the gift tax she paid and have some of her unified credit restored. Prepare a memo that addresses whether Janet should be entitled to refund of the gift tax paid and restoration of some of her unified credit.
Prepare the March income statement for Gantt Manufacturing company. Determine the inventory balances at the end of the first month of operations.
Revenues for the year totaled $88,500 and expenses totaled $40,500. Stockholders invested $15,000 in the company in exchange for stock during the year. What is the amount of net income or loss for the year?
Finding the equivalent units for materials and conversion - Find How many units were started and completed during May?
Find out or prepare the price/earnings ratio, the dividend payout ratio, the dividend yield, book value, and earnings per share, and identify whether you would consider this company a good investment, with regard to your personal investment object..
What is the NPV of the project? (Do not include the dollar sign ($).Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations.
Which country has the absolute advantage in the production of each good? Which country has the comparative advantage?
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