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
How other income is different from revenue from normal operations under the vertical format
On January 1, 2013, NewTune Company exchanges 15,000 shares of its common stock for all of the outstanding shares of On-the-Go, Inc. Each NewTune''s shares has a $4 par value and a
The SIMPLEX financial system is characterized by a required reserves ratio of 11 percent; initial excess reserves are $1 million, and there are no currency or other leakages. a.
A HEALTH SAVINGS ACCOUNT AT FRONTLINE PR Susan Berry just returned from a national conference on compensation and benefits where she attended a session on Health Savings Accou
I need some guidance in how certain events are to be recorded on both the balance sheet and statement of cash flows.
#questBackground: The SEC set up the Work Plan which sets forth specific areas and factors to consider before potentially transitioning our current financial reporting system for U
Illustration of consolidated cashflow statements The voice of the Nation Limited is a Nairobi based media company. Its Consolidated Income Statement for the year ended 30 April
The existing company WACC replicates the company's current gearing level and its existing Ke and Kd and the Ke in turn reflects the shareholders' risk perception of the company's e
Determine the LIFO cost Toys "R" Us purchases inventory in crates of merchandise; each unit of inventory is a crate of toys. The fiscal year of Toys "R" Us ends each January 31
Which of the following actions are most likely to directly increase cash as shown on a firm's balance sheet? Explain and state the assumptions that underlie your answer. 1. It i
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