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!
Illustration of marked up by an additional amount
E Limited sent goods to its branch in Thika invoiced at selling price, which was cost plus 505 of cost. On 1st July 20X2, the opening stock in Thika was Shs 3 million at selling price. Goods at selling price of SHS 16.5 million were received by Thika in the year ended 30th June 20X3.
Branch Stock A/C
20X2
Shs 000
20X3
Jul 1
Balance b/f
3,000
Jun 30
Cashbook/debtors
16,800
June 30
Sundry a/c
16,500
Feb 28
Branch Markup a/c
1,600
Balance c/d
4,300
21,100
Balance b/d
Branch Mark Up A/C
Branch profit and loss a/c
6,400
July 1
Bal b/f
1,000
Bal c/d
1,700
Branch stock a/c
5,500
_____
Branch stock
8,100
Workings
a.
Sales
Selling price
Gross profit
Cost of sales
Sh ‘000’
Total sales
10,400
Marked up goods (75% X Shs 7.6m)
5,700
2,700
Normal sales
11,100
3,700
7,400
b.
Closing stock
Total
2,600
Marked up goods
1,900
900
2,400
800
A huge number of variations of ROT are determined in practice, based upon how "Investment" and "Return" are explained "Investment" may be explained to comprise any of the subsequen
what is recorded sales on account of 3,280
What points is necessary to meet users requirements To meet these users' requirements, it can be argued that accounting information must possess certain key qualities, or chara
Who are the users of accounting information? For accounting information to be useful, accountant should be clear for whom the information is being prepared and for what purpose
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
Consider the following 2008 data for Newark General Hospitals (in millions of dollars Simple Budget_______Flexible Budget_ Actual Budget__ Revenue______$4.7$____4.8_____$4.5_
compute the arithmetic mean rate of return and standard deviation of rates of return for the two series
what is journal
TERMINATION OF OFFICE OF TRUSTEE The trustee may vacate office in the following ways: 1. Resignation : He may resign at a meeting of creditors and with their consent. 2.
Acquisition during the financial period The holding company may acquire the subsidiary company partway through the financial period such that as at the balance sheet date, the
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