Accounting Answers

1a)The following distribution represents the number of minutes spent by a herd of cows in grazing

Minutes/week 0-99 100-199 200-299 300-399 400-499 500-599 600 & more

Number of cows 21 26 59 72 52 26 8

Determine the median.

b)If coveriance between X and Y is 18.8 and the variance of X and Y are 22.4 and 26.8 respectively. Find the coefficient of correlation between them.

1a)The following distribution represents the number of minutes spent by a herd of cows in grazing

Minutes/week 0-99 100-199 200-299 300-399 400-499 500-599 600 & more

Number of cows 21 26 59 72 52 26 8

Determine the median.

b)If coveriance between X and Y is 18.8 and the variance of X and Y are 22.4 and 26.8 respectively. Find the coefficient of correlation between them.

2a) Discuss the importance coefficient of correlation in explaining the relationship between two variables.

b)The chance of any photocopier being defective is 20%. If 15 photocopiers are selected at random, what is the probability that

I)Fewer than 4 will be defective?

ii)None will be defective?

iii) Exactly 6 will be defective?

iv) Between 7 and 9 will be defective?

v)At least 10 will not be defective?

C) Determine the probability of receiving a score greater than 850 on GMAT test that has a mean of 496 and the standard deviation of 116

 1.On January 1st 2013 Patels financial position was as follows Kshs 150,000 Motor Vehicle, Kshs 50,000 furniture, Kshs 30,000 Stock, Kshs 35,000 Bank, Kshs 30, 000 debtors includes Ann 30, 000, John ksh 4500

Creditors include: Robber Kshs 9,000 David Kshs 3500.

Required

From the above information determine Patels total assets, his liabilities and capital as at 1st January 2013.

Post adjusting entries, using the following information:

1. Ryce paid cash for the following utility bills for the month: Light Company $13,000. The actual light bill received from Light Company is $10,000.
2. Ryce stated business with a G Wagon valued at $1,200,000. Depreciation for the G Wagon has not been taken into account for the month. The business uses the reducing balance method to depreciate motor vehicles at a rate of 12 percent (12%) per annum.
3. Ryce purchased store furniture from Royal Cabinets Limited using a cheque amounting to $120,000. Also, Ryce paid Telesales Electronics $15,000 with a cheque to set up her point-of-sale machine at the store. The furniture and point-of-sale machine in the business are to be depreciated using the straight-line method at a rate of 8%. Depreciation for furniture and point-of-sale the machine has not been taken into account.

Which one of the following methods apportion the costs of service departments on a one- by- one basis to production department and other service departments?

•  A. Step method
•  B. Direct method
•  C. High-low method
•  D. Least squares method

. Prepare a cost of quality report for the two models under their quality cost

classification. (10 Marks)

B. Comment on the above analysis in terms of the company’s quality investment

expenditures relating the two models. (5 Marks)

Nomzi Traders sold furniture to a customer for R1 610 cash, the mark up on cost is 20%. Assuming Nomzi Traders uses a perpetual inventory system, is a registered VAT vendor and the VAT rate is 15%. (Round your answer off to the nearest Rand.) 

What will the cost of sales be for this transaction?

Discuss briefly the common and differences of audit substantives test objectives of the accounts in the financial statements.

Give an example of a qualified audit report.