Accounting Answers

You purchased 10 shares of l&t company last year. On 5march 2019,the company has declared a dividend rs 50per share. The income is earned but not yet collected in your account during this financial year.

Calculate the present value of a growing perpetuity with the following information (round off the answer to the nearest rand)
Cash flow at the end of the first year R60 000
Growth rate(g) 10%
Opportunity cost 20%

Calculate the present value of a growing perper

2. The information given below has been taken from the costing records of an Engineering works in respect of Job No. 303.
Materials Sh. 41,100
Wages:
Department A – 60 Hours at Sh.300 per hour
Department B – 40 Hours at Sh.200 per hour
Department C – 20 Hours at Sh.50 per hour
Overhead expenses for these three departments were estimated as follows:
Variable overheads:
Department A – Sh.50,000 for 5,000 labour hours
Department B – Sh.30,000 for 1,500 labour hours
Department C – Sh.20,000 for 500 labour hours
Fixed overheads:
Estimated at Sh.200,000 for 10,000 normal working hours.
Required:
i) Calculate the cost of job 303

5 March 2019 brothers received hundred percent advance for goods to be supplied in the next month the cost of the goods was rs.50000 they usually sells the goods 10% Mark up ans in 500 word

A company calculates the prices of jobs by adding overheads to the prime cost and adding 30% to total costs as a mark up. Job number Y256 was sold for $1,690 and incurred overheads of $694. What was the prime cost of the job? *

Statement of Changes in Equity

Problem 1: Sole Proprietorship

On February 15,20x1, Evelyn Ferrer opened Cookie Fantasy Bakeshop. She invested 75,000 to purchase an oven and bakery supplies. The business generated a net income of 37,545 in 20x1. Moreover, Evelyn used 15,000 from account of Cookie Fantasy to pay the electricity and phone bills of her house.

Evelyn invested an additional 13,400 and 17,650 on March 16, 20x2 and August 19, 20x2, respectively. Net income for 20x2 was reported at 48,950. Evelyn's Drawings account has a balance of 20000 on December 31, 20<2.

Required: Prepare Cookie Fantasy Bakeshop's Statement of Changes in Equity for the year ended December 31, and December 31, see format below

Balance, January 1,20x1

Balance, December 31, 20x1

Balance, December 31,20x2

:
Members’ % Interest Contributions
Barry Behr 50% R500 000 (cash and equipment)
Doris Daniels 40% R400 000 (cash)
Mo Mgotso 10% R100 000 (cash)
The following balances, amongst others, appeared in the CC’s books at the end of the current
financial year, 31 July 2020:
Members contributions R1 000 000
Retained Earnings (1 August 2019) R236 000

With regards to the financial year ending 31 July 2020, the following information was available:
1. On 31 July 2020, the CC recorded a profit of R940 000. This profit was after taking into
account transactions with members like remuneration.
2. The income tax for the year is calculated at R260 000.
3. The members are entitled to a distribution of profit of R45 000 each, irrespective of how
long they have been a member.
Required:
Open, post to and balance the Appropriation Account for the year ended
31 July 2020.

The total revenues is 1,200,00 its expenses is 150,000 what is the net income?