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
On January 1, 2012, Osborn Company sold 12% bonds having a maturity value of $800,000 for $860,651.79, which provides the bondholders with a 10% yield. The bonds are dated January
Voluntary settlements The trustee can claim all property settled by the bankrupt on other persons within two years preceding the bankruptcy unless made: a. Before and in consi
Ademption If property which has been specifically bequeathed does not belong to the testator at the time of his death, or has been converted into property of a different kind,
The Operating Cycle Two Wheeler Cycle Shop buys all of its bikes from one manufacturer, Baxter Bikes. On average, bikes are on hand for 45 days before Two Wheeler sells them. The c
Group retained profits Retained profits ideally should be the amounts that can be distributed as dividends. Therefore, in arriving at group retained profits, careful attention s
speciman of accounts preparation in stock and debtor system.
Q. Somento Forest Inc. has 10,000 shares of 6%, $100 par value, cumulative preferred stock and 100,000 shares of $1 par value common stock outstanding at December 31, 2014. What is
premium coupons that already have been expired should be or shouldn''t be estimated as liability?
i have project on "cengagebrain" for framework class. its pretty long
The chief accountant of kamau ltd
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