Accounting Answers

LGM Ltd has 200 items of a product Zeros in inventory at 31 March 2021. The items were found to be damaged. The items can be repaired and repackaged for a cost of £1.00 per item. Once repackaged, the items can be sold at the normal price of £3.00 each. The original cost of the items was £1.90 each. The replacement cost at 31 March 2021 is £2.25 each.

What value should LGM put in inventory of Zeros in its statement of financial position at 31 March 2021?          

Bank reconciliation

The following data were gathered to use in reconciling the bank account of Crystal Company:

Balance per bank  $28,240

Balance per company records 10,280

Bank service charges 60

Deposit in transit 6,500

 Note collected by bank with $530 interest 11,170

Outstanding checks 13,350

a.What is the adjusted balance on the bank reconciliation

a. Journalize any necessary entries for Crystal Company based on the bank reconciliation.

The Zuni Co. has the following accounts in its ledger: Cash; Accounts Receivable;

Supplies; Office Equipment; Accounts Payable; Gayle McCall, Capital; Gayle McCall,

Drawing; Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; Mis￾cellaneous Expense.

Journalize the following selected transactions for August 2005 in a two-column

journal. Journal entry explanations may be omitted.

August 1. Paid rent for the month, $1,500.

2. Paid advertising expense, $700.

4. Paid cash for supplies, $1,050.

6. Purchased office equipment on account, $7,500.

8. Received cash from customers on account, $3,600.

12. Paid creditor on account, $1,150.

20. Withdrew cash for personal use, $1,000.

25. Paid cash for repairs to office equipment, $500.

30. Paid telephone bill for the month, $195.

31. Fees earned and billed to customers for the month, $10,150.

31. Paid electricity bill for the month, $380

Income of Someone increase by 25%, how this increase in income will affect purchases of new cell phone and second hand bicycle?

Is it possible for a parent to sell its subsidiary without losing its control?

What is Gross Sales?

What is Net Sales?

What is Gross Income?

What is Gross Revenue?

What does Pretax mean?

What does After tax mean?

assumethat wisdom company wishes to prepare an income statement for the month of january when its records show net sales br200,000 beginning inventory br40,000 and cost of goods purchased br120,000 in the preceding year the company realized 30% gross profit rate and it expects to earn the same rate this year. compute the+cost of ending inventory using gross profit method

1.      SITE ATLEAST FIVE (5) PARTICULAR VALUES AND TEACHINGS THAT CAN BE FOUND ON THE TABLE FELLOWSHIP OF CHRIST. EXPLAIN EACH VALUES.

2.      WHAT DOES JESUS FEED US AT HIS TABLE?

3.      HOW DO YOU SENSE JESUS TEACHING BEHIND ALL HIS MEALS ?