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The accounting records of Nu-tonics Inc., include the following information for the year ended December 31, 2013: Materials Inventory as at 1 January 2013 $ 20,000 Materials Inventory as at 31 December 2013 $ 24,000 Work in process Inventory as at 1 January 2013 $ 12,000 Work in process Inventory as at 31 December 2013 $ 8,000 Finished goods Inventory as at 1 January 2013 $ 80,000 Finished goods Inventory as at 31 December 2013 $ 90,000 Direct Materials used $210,000 Direct Labour $ 120,000 Administrative Expenses $ 310,000 Sales $ 700,000 Required: 1. Prepare a Schedule of the Cost of Finished Goods Manufactured for the year ended 31 December 2013. 2. Prepare the Income statement for the period ending 31 December 2013.
In recent years, there has been a lot of media coverage about the funding status of pension plans for state employees. In many states, the amount of money invested in employee pens
Q. High-fiber Diet for diverticular disease? For mild symptoms, a clear liquid diet is recommended. More serious cases may require hospitalization, intravenous feeding to rest
Under both GAAP and tax depreciation, an asset cannot be depreciation until it has been
Uses of Funds Flow Statement : This declaration is extremely helpful for policy makers as it traces the movement of funds inside the organization. Various of the uses include
A company absorbs overheads on machine hours that are budgeted at 11,250. The budgeted overhead is $281 250. Results illustrate actual hours of 10 980 and overhead of $276 652.
1) A) Suppose Jean Splicer, an investor, buys $300,000 of shares of stock in a diversified bundle of Bio-tech firms and exactly one year later sells those shares for $315,000. Assu
You have been engaged internal auditor by the management of Alden proprietary limited to review its internal control over the purchases, receipt, storage and issue of raw material.
Q. Explain about business entity concept? A business entity perhaps made up of several different legal entities. For example a large business such as General Motors Corporation
Revenues from the theatrical supply of motion pictures are recognized when motion pictures are exhibited. Television licensing revenues are recorded while the program material is a
In November 2012, US based information technology Hewlett Packard recorded a write-down of around $8.8 billion related to its $11.3 billion acquisition of the UK based software mak
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