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Accounting
Dr Inventory 300
Cr Cost of sales 300
Dr Cost sales 250
Cr Retained earnings 250⅞
Dr Tax expense (50 x 30%) 15
Dr Retained earnings (250 x 30%) 75
Cr Tax liability (300 x 30%) 90
.........
How do I give narrations to the above journal entries? Ias8
Cr Cost of sales 300
Dr Cost sales 250
Cr Retained earnings 250⅞
Dr Tax expense (50 x 30%) 15
Dr Retained earnings (250 x 30%) 75
Cr Tax liability (300 x 30%) 90
.........
How do I give narrations to the above journal entries? Ias8
Accounting
When a service is rendered on credit, what will the effect be on what accounts
Accounting
Company's existing costing system uses a single overhead rate. Based on total sales revenue from copy charges, to charge the cost of services department support activities to each size of machine. This service management has suggested that the copy charge should more accurately reflect the cost involved. The company accountants has decided to implement an activity based costing system and has obtained the following information about the support activities of the service department
A. Calculate the annual profit per machine for each of the three sizes of machine, using the current basis for charging the costs of support activities to machines
B. Calculate the annual profit per machine for each of the three sizes of machine using activity based costing
A. Calculate the annual profit per machine for each of the three sizes of machine, using the current basis for charging the costs of support activities to machines
B. Calculate the annual profit per machine for each of the three sizes of machine using activity based costing
Accounting
Kolbe Traders had the following transactions which took place during the
month of January 2020:
Date Transaction
5 Raised a loan of R150 000 with Scrum Bank. The money was
deposited in the bank account on the same day.
10 Stationery was purchased from Papadi Store at a cash price of
R20 000 and paid via EFT.
17 Stationery was purchased. Cheque X5 was drawn with an
amount of R10 000.
Required:
Record the transactions above in the relevant General Ledger Accounts of
Kolbe Traders for January 2020.
month of January 2020:
Date Transaction
5 Raised a loan of R150 000 with Scrum Bank. The money was
deposited in the bank account on the same day.
10 Stationery was purchased from Papadi Store at a cash price of
R20 000 and paid via EFT.
17 Stationery was purchased. Cheque X5 was drawn with an
amount of R10 000.
Required:
Record the transactions above in the relevant General Ledger Accounts of
Kolbe Traders for January 2020.
Accounting
describe how the statement of financial performance shows if the internal controls implemented are working?
Accounting
Bean Ldt is a division of Earl enterprise and has been allocated R5m for capital expansion in the forth-coming year.The management of Bean believes that the company must spread its risk by investing in projects with different risk profiles and has identified two possible investments.The capital to Bean is sufficient to invest in only one of the projects.Economic growth 0%,3%and6%.probability of occurance 0.3,0.4and0.3.Estimated return:project1 14,10and 8 Project2:8,18and22.Existing investment 6,12and16.Book value R5m, R5m and R10m.Market value R5m,R5and R15m.The division manager has requested the accounted to determine which of the two projects should be accepted using the portfolio theory. Required:1.calculate which investment should be selected in line with the portfolio management theory. 2.identify and describe the kind of risk the management of Bean Ltd wishes to spread by investing in different investments and state whether they should be concerned about reducing such risk.
Accounting
Some categorization of cost drivers provide hierarchical models: 1.unit-level activities;2.batch activities;3.product-sustaining activities ;4.facility - sustaining activities. Other analysis focuses on value adding and non-value adding activities. Requirements:explain what is meant by non-value adding activities and discuss the usefulness of this form of analysis.
Accounting
Explain the marits and problems of using the return on investments, residual income and economic value added methods.
Accounting
Explain the marits and problems of using the return on investments, residual income and the economic value added methods
Accounting
a) What is CVP analysis? How does CVP analysis help managers in making many
important decisions?
a) “Opportunity cost is also called opportunity loss”. Why? Explain with example.
b) What are the major elements of period costs in a manufacturing company? Explain them
with examples.
a) “Multiple-step income statement and Classified balance sheet are widely used by medium
and large companies”. Do you think so? Justify your opinion.
b) Adjusting entries are required every time a company prepares financial statements. What
are the reasons behind it?
a) What uses of financial statement analysis are made by short-term creditors, long-term
creditors and stockholders? [02]
b) Mention the various tools used to evaluate the significance of financial statement data
and describe them. [02]
important decisions?
a) “Opportunity cost is also called opportunity loss”. Why? Explain with example.
b) What are the major elements of period costs in a manufacturing company? Explain them
with examples.
a) “Multiple-step income statement and Classified balance sheet are widely used by medium
and large companies”. Do you think so? Justify your opinion.
b) Adjusting entries are required every time a company prepares financial statements. What
are the reasons behind it?
a) What uses of financial statement analysis are made by short-term creditors, long-term
creditors and stockholders? [02]
b) Mention the various tools used to evaluate the significance of financial statement data
and describe them. [02]
