Accounting Answers

Govan Limited expects to purchase 40 000 components during 2021 with a purchase price of R20 per unit, an ordering cost of R2 per order and a carrying cost of 20 percent of the unit purchase price.Use this information given below to calculate the number of orders that should be placed during 2021 using the most advantageous quantity to order each time.

Financial statements should reflect a true and fair view of the business. Explain in your own words what is meant by this statement by explaining the qualitative characteristics of financial statements

Love Doddle is a gifting enterprise of Ms. Dorati. The enterprise generates inflows by 

arranging gift hampers for the customer's loved ones. The inflows arises from the sale of 

gift hampers Rs 505000 and from bank interest, dividend receipt Rs4200. Ms. Dorati is 

confused on how to record these inflows. She would like to understand from you about 

the concepts Revenue from operation and other income, so that she can record the 

information so as to prepare the profit and loss statement of the enterprise. Define, share 

examples, and elaborate on your understanding towards the terms Revenue from 

Operation and Other Income

Ques. The following information is given with respect to the ratio's of two companies:

Current Ratio: 

Aman Ltd- 2:01

Roger Ltd - 1.60:1

Quick Ratio:

Aman Ltd- 1.35:1

Roger Ltd - 1:01

Return on investment:

Aman Ltd- 15%

Roger Ltd - 13%

Debt Equity Ratio:

Aman Ltd- 2.5:1

Roger Ltd - 1:01

1) Define the concepts of Current and Quick ratio’s and also, reflect on your understanding 

towards the financial performance of the companies by looking to the above information .

2) Define the terms- Return on Investment and Debt equity ratio and also, reflect on 

your understanding towards the financial performance of the companies.​

‏Assuming the tost of direct materials used is $ 1,500,000 , compute the total manufacturing costs using the information below . Raw materials inventory , January 1 $ 30,000 Raw materials inventory , December 31 60,000 Work in process , January 1 27,000 Work in process , December 31 18,000 Finished goods , January 1 60,000 Finished goods , December 31 48,000 1,500,000 Raw materials purchases 690,000 Direct labor 225,000 75,000 Factory utilities Indirect labor 500,000 630,000 Factory depreciation Operating expenses

‏Ponszko Nursery used high - low data from June and July to determine its variable cost of 518 per unit . Additional information follows : Month Units produced Total.costs June 2.000 $ 48.000 July 1,000 30,000 If Ponszko's produces 2,300 units in August , how much is its total cost expected to be ? Format $ 552,000 Answer :

If in the question didn't mention about the mode of purchase transaction is furniture purchase worth rs. 300000 what is the accounting equation ?

What is Interest Expense?

What is Interest Accrual?

purchased furniture for Rs. 300000/- what is the journal entry for it?