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A) purchases - (X+X) = net purchases
B) net purchases + X = cost of merchandise purchased
C) X + cost of merchandise purchased = merchandise available for sale
D) merchandise available for sale - X = cost of merchandise sold
During the 2022 year there was a good rainy season and a bumper coffee bean crop yield.
The usage of the machine has improved and is estimated to continue to improve in the years to come. As such, on 31 December 2022 management have revised the remaining useful life to eight years. They have calculated the value in use to be R1 360 000. The market price is R1 850 000 with costs of R15 000.
Calculate the value of the impairment loss reversal, if any, for the year ended31 December 2022.
You can assume that the recoverable amount does not exceed what the carrying value would have been had there been no impairment loss.
Which one of the following is not a recommended qualitative characteristic that the accounting policies and financial statements of companies should have?
Select one:
a. Comparability
b. Reliability
c. Relevance
d. Probability
1. Supplies on hand at the end of month Rs.1000
2. Depreciation expense for the month of December Rs. 850
3. salaries are due for the month Rs.15000
4. Unearned client fee earned during the month Rs.5000
5. Prepaid Insurance expired during the month Rs. 2500
6. Client Fee Revenue earned but not received Rs.7600
centres;
