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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
How to write introduction on strategy plan
Strategy A business characteristically invests considerable time and money in developing or creating its strategy. Employees, harried with day-to-day tasks, sometimes fail to s
Explain the Shut down cost A cost which will be still be required to be incurred even though a plant is closed or shut down for a temporary period. Ffor example the cost of
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Stock-out costs These are the opportunity costs of running out of stock. They comprise: 1) The costs of lost customer sales, and therefore lost contribution to fixed costs.
accepted#Regarding the Overhead costs, these are allocated based on Direct Labor;
Differnetial cost analysis uses
Correlation coefficient (r) Correlation coefficient measures the degree of association between two variables such as the cost and the activity level. r = nΣxy - Σx Σy
Problem: Fancy Foods Ltd uses a standard costing system to control its material and labour costs. The standard costs for January 2007 were as follows. Standard Costs Materi
THE BREAK EVEN POINT
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