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Shirley and Ken are in partnership, trading in the construction industry. The year end for the partnership business is 30 June.
You are the Assistant Accountant and have been asked by the Accountant to assist him in preparing the financial statements for the year ended 30 June 2011.
You have the following information about the partnership:
The partners are Shirley and Ken.
- Shirley £32,000
- Ken £57,000
- Shirley £1,900 Cr
- Ken £400 Dr
- Shirley £7,500
- Ken £9,500
- Shirley 45%
- Ken 55%
- Shirley 40% - Ken 45% - Reeny 15%
Waylander Coatings Company purchased waterproofing equipment on January 6, 2013, for $320,000.The equipment was expected to have a useful life of four years, or 20,000 operating ho
TYPES OF VARIANCES Variances are computed for the entire three basic elements of cost - direct labour, direct material, and overhead variance 1. Direct labour variance 2.
explain various type of cost ccounting
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