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!
Income Statement - Cost Accunting:
A starting entrepreneur has come up with a plan to start a Gaming Outlet in Haarlem. He would like to buy a building which will cost € 700.000. He will take out a mortgage in the amount of €630.000. The mortgage is to be paid off in 20 years, interest on the mortgage is 6%. Repayment of the loan and payments on interest are to be paid in the first month of the year, starting in January 2012. Depreciation of building is 2% per year. Office equipment is to be bought for €160.000. The office equipment is to be delivered in December 2010 and to be paid in January 2011. Depreciation on office equipment is to be done in 8 years, residual value is zero. The entrepreneur will use a delivery van (worth €30.000) for his business and will bring €140.000from his private account into his business. The delivery van will depreciate to zero in 5 years.
The bank will extend a credit line with a maximum of €80.000. The credit line can be used to balance the balance sheet. Should the company have a surplus then this will mean that the company will have a positive bank balance. The interest to be paid over this account is to be paid per half year. Over the first half of the year the interest is €200 (to be paid in July 2011) and over the second halfof the year the interest is €300 (to be paid in January 2012). Per January1 2011 the company will have €1.000 in its cash register, this is equal to the amount which the company will have in its cash register at the end of every quarter.
The predicted turnover for 2011 and 2012 is €1.200.000. In both years the turnover is equally divided over the months. The entrepreneur expects that 20% of his turnover will be made by serving businesses. These business clients get a buyer's credit of one month. Regular costumers (non-business clients) pay cash. The profit margin is 40% of the turnover.
Exploitation costs are €20.000 per month and are to be paid in the same month. For purchases the company is extended a supplier's credit of one month. Before the opening of the Outlet, games are bought and stored. Total costs of the purchase of these games are €60.000. Starting in January, and then every following month, games are bought in the order of the expected purchase of goods in the following month.
i want to know the different types of costs.
The Smiths decided to convert Ron's home into a furnished rental house. After several minor repairs (touching up the paint, replacing screens, pressure-washing), the property was a
Assignment of Variance in Variance Calculation In variances calculating, the calculations require to be detailed sufficient hence the responsibility for the variance can be a
The question required consideration of both the monetary performance and the financial position, from the perception of a potential lender. As with previous questions, candidates w
You have been asked by Mogul-Basher (MB) Ltd., a manufacturer of snowboards, to evaluate its capital structure. As a first step, you need to estimate MB's current weighted average
Tyler's Consulting Company has purchased a new $15,000 copier. This overhead cost will be shared by the purchasing, accounting, and information technology departments since those a
(i) Describe the difference between the balance sheet and the income statement in financial statements of companies. (ii) Give two examples of intangible assets and two exampl
Direct Labour Rate Variance It is the difference among the actual direct labour rate and the standard direct labour rate for the total hours worked. Utilizing an equation,
Tracking Direct Materials Jack keeps full records of the material released to each job. When Donnie gathered up light bulbs, tape, breakers, wire, and wire nuts on the morning
Opportunity Costs Are Relevant Costs Opportunity cost introduces an additional concept that is not available like part of normal cost analysis in the accounting record system.
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