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Question 1 The following items are found in the trial balance of M/s Sharada Enterprise on 31st December, 2000.
Sundry Debtors Rs.160000Bad Debts written off Rs 9000Discount allowed to Debtors Rs. 1800Reserve for Bad and doubtful Debts 31-12-1999 Rs. 16500Reserve for discount on Debtors 31-12-1999 Rs. 3200
You are required to provide the bad and doubtful debts at 5% and for discount on debtors at 2%. Show the adjustments for bad debts, bad debts reserve, discount account, and provision for discount on debtors.Hint: RBD to be provided = 500Reserve for discount to be provided now =1640
Question 2 What is management accounting? Explain the roles of management accounting and write down about any 2 functions of management accounting
LIFE CYCLE COSTING Introduction Life cycle costing as its name implies costs the cost object i.e., product project etc. over its projected life. It is used to explain a s
I WANT TO KNOW THE RULES FOR DOING LIFO AND FIFO
Explain Profitability ratios in relation to sales a) Gross profit ratio b) Net profit ratio c) Operating ratio d) Operating profit ratio e) Expenses ratio
Working Capital management is affected through two characteristics of current assets that are as follows (i) short life span (ii) swift transformation in the other asset forms.
Determine the Internal factors of pricing decision 1) Organization factor: pricing decision occur on two level in the organization. Overall price strategy is dealt with by to
It refers to the length of time given to the buyer to pay for their purchases. Throughout this period no interest is charged on the excellent amount. The credit period usually vari
1. In common, accounting period is the time period reflected by a series of financial statements. 2. In terms of taxation, it is twelve-month period a taxpayer uses to know
Parameter prediction error: This is another aspect of faulty planning. As Hongren says, ‘planning decisions are based on predictions of future costs, future selling price, fut
Disadvantages of standard costing 1) Difficulty in setting standards: setting of standards in practice extremely difficult and complicated task. First it is not possible to f
Project C would involve a current outlay of $50,000 on equipment and $15,000 on working capital. The investment in working capital would be increased to $21,000 at the end of the f
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