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!
Problem:
(a) Many businesses find it useful to maintain a control account in respect of both their trade receivables and trade payables. Describe why such control accounts are useful.
(b) The subsequent information relates to March 2009:
On 1st March 2009, the balances in the trade receivables ledger were Rs 348,560 Dr and Rs 12,800 Cr.
During the month of March 2009 the given transactions took place:
1. Sales were Rs 598,200 (85% of which were on credit terms). 2. Sales returns from credit customers totalled Rs 18,240. 3. Cheques for Rs 394,250 were received from credit customers; Rs 32,832 of this amount had been received subject to 4% cash discount. 4. Customers' cheques for Rs 4,650 were dishonoured by the bank. 5. 4% cash discount had been allowed in respect of one of these cheques for Rs 1,920. 6. Rs 5,400 had been set off by contra in the trade payables ledger.
Credit balances in customers' account as at 31st March 2009 amounted to Rs 11,400
Required:
Create a Trade Receivables Ledger Control Account for the month of March 2009.
You were hired as a consultant to Giambono Company, whose target capital structure is 40% debt, 15% preferred, and 45% common equity. The after-tax cost of debt is 6.00%, the cost
The assets and liabilities of Toronto Service Inc. as of December 31, 2008, and revenue and expenses for the year ended December 31, 2008 are listed below: Accounts
Below is the Trial Balance for Clay Employment Services, year ending December 31, 2011. Previous period's information were as follows: net receivables, $290,000 and inventory, $82
Question: Zelo, Inc. stock has a beta of 1.23. The risk-free rate of return is 4.5% and the market rate of return is 10%. What is the amount of the risk premium on Zelo stock?
Basics of Sundry Matters Current accounts balances must always be equal and opposite. The head office current account in the branch books should always have a credit bal
Static Balancing : This balancing is complete in the plane of unbalance. Dynamic Balancing : In this case two balance planes are needed because forces along couples are to
The company selected a suitable site and commissioned a survey and valuation report, for which the fee was £1,500. On the basis of the report the site was acquired for £90,000. Sol
Company A(lessee) will rent inventory for you for 3 years rather than buying it for the regular price of $240,000. Normally these units, which cost us $120,000 to produce, will las
Omission to do something which a reasonable man, guided by those ordinary considerations that ordinarily regulate human affairs, would do or doing of something that a reasonable an
Describe the following questions:- Q.1 Explain how financial statements assist in the capital allocation process. How are financial statements limited? Which financial statement
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: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd