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Question - After the accountant of Strikers Ltd had prepared the financial statements for the year ended 30 June 2020, the following errors came to light:
A motor van purchased at a cost of $12,000, with accumulated depreciation at the beginning of the year of $4,000, had been depreciated at 20% using the reducing-balance method rather than the straight-line method of depreciation.
The payment of $1,500 for a trade payable had been treated as a cash purchase.
Withdrawals by the owner of $3,000 during the year had been treated as part of the salaries and wages expense.
Bank charges of $400 during the year had been treated as interest charges.
Required - What is the effect on profit of each of these errors?
Identify which one of coming up next isn't the goal of the upkeep? One of the significant outlines utilized in Program control is ?
Companies should focus on financial measures of quality because these are the only measures of quality that can be linked to bottom-line performance
By the end of the week, the company had produced 12,000 curtains. Calculate the total conversion cost for the week
How much Ali will have at the end of 12th year. Ali wanted to save RM2,500 beginning of each month for 12 years with an interest rate of 10 percent.
Compute net cash provided by operating activities using the direct method - Assume that accounts payable related to operating expenses
Calculate the cost per equivalent unit for each of the three cost items and in total.
BusyBody Company expects its November sales to be 20% higher than its October sales of $180,000. Purchases were $110,000 in October and are expected to be $160,000 in November.
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During November 500 pounds of raw materials costing $4 per pound were used in making 450 weather vanes. What the materials price and quantity variance
Successful product support development processes includes which two of the following? revise repair schedules after deployment./provide design options
Mullen Company for the year ended December 31, 2017. Make a classified balance sheet for the year ended December 31, 2017.
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