Accounting Answers

calculate Mckesson corporation ratios to state its short-term solvency, long term solvency , activity and the profitability .

In attempt to increase revenue and profits, a firm is considering a 4 percent increase in price and 11 percent increase in advertising. If the price elasticity of demand is -1.5 and the advertising elasticity of demand is +0.6, would you expect an increase or decrease in total revenues?

Foster’s stocks one raw material item, Drum 4, which forms the raw material content for their sole product, and the information below relates to this stock item for May 2016.

Opening stock

       100 units                                                      Price $20 per unit

Receipts of stock item

2-5-19                                    250 units                    Price $25 per unit

13-5-19                                   300 units                    Price $30 per unit

21-5-19                                   220 units                    Price $35 per unit

Issues to production

 6-5-19                                 200 units

19-5-19                                   300 units

30-5-19                                   250 units

            Required:

(a)   For Drum 4, calculate the value of closing stock as at 31 May 2019, and the cost of materials issued to production for the month of May, using perpetual methods of inventory valuation for:

FIFO

LIFO and AVCO  

Examples of the difference between cash flow statements prepared using the

direct method versus the indirect method;

Using examples explaining the difference between cash flow statements prepared using the direct method versus the indirect method;

Explain, using examples, the difference between cash flow statements prepared using the

direct method versus the indirect method.

Explain, using examples, the difference between cash flow statements prepared using the

direct method versus the indirect method.

The following balances appeared in the accounts of Fast Wheels for June:

TOPIC: BANK RECONCILIATION

Directions: Research for the following questions and answer concisely using less than 5 sentences for each response.

1. Why are NFS Checks (not sufficient funds check) considered a debit memo?

2. Is a certified check considered to be an outstanding check?

TOPIC: BANK RECONCILIATION

Directions: Research for the following questions and answer concisely using less than 5 sentences for each response.

1. Why are NFS Checks (not sufficient funds check) considered a debit memo?

2. Is a certified check considered to be an outstanding check?