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Harmonious Company acquired a patent for a drug with a remaining legal and useful life og 6 years. What amount should be recorded as amortization expense for 2019?
1. The income summary account has a credit balance of P1,000,000.
2. The income summary account has a debit balance of P600,000.
3. Total Sales is amounting to P20,000,000 and total operating expenses is amounting to P1,000,000.
4. Total retained earnings, P5,000,000 of which 20% was appropriated for plant expansion.
5. Cash dividends paid, P500,000.
6. Overstatement of beginning inventory, P50,000.
What constitutes inventory? Discuss the benefits of inventory management.
what factors are likely to reduce the holdings of inventory in relation to sales in the future? What factors will tend to increase the ratios and what in your judgement is the net effects?
discuss new developments in inventory management systems and the implications for production technique any philosophy.
Why might it be necessary to consolidate and/or convert financial data to allow it to be analysed in accordance with organisational requirements?
Take Britannia Industries Ltd as a case. In the context of its financial statements and annual report answer the following
a. It’s a largely acceptable practice among the corporate entities to pay dividend to its shareholders. Take Britannia Industries Ltd as a case. Discuss and differentiate the types of dividend the company paid for the financial year 2020-2021. Also, mention your understanding about what could be the accounting treatment of Dividend in the books of Britannia Industries Ltd.
b. Discuss and share your understanding on any three profitability ratios which you feel relevant to assess the profitability of the company
This pandemic situations has drawn the attention of a lot of individuals to actively watch and participant in the Indian financial market. As a life-long learner, you also decide to understand the fundamentals of certain companies listed on the stock exchanges in India. One of your friends advised you to look in to the various techniques of financial analysis, as one of the way of evaluating the financials of business entities. You are done with getting an understanding about various techniques of financial analysis. Elaborate any five of the said techniques for financial analysis.
A debtor, Mr A Naidoo, owed Peter Stores R4 000 on 1 May 20.20. On 15 May Mr A Naidoo decides to settle his account at Peter Stores, by paying his account in full. Wilton Stores gives him 10% discount.
Which of the following correctly represents the above transaction (Ignore any VAT implications)?
Which one of the following alternatives is correct?
A. The selling price of the partnership business is determined by the value of its assets.
B. When recording the valuation adjustments, if the value of a liability is decreased, the valuation account credited with the amount of a decrease.
C. The fair value of the assets of a partnership is equal to the total equity of a partnership.
D. An existing goodwill account balance is transferred to the partners’ capital accounts on admission of a new partner.
E. To ensure that compliance is followed, the financial statements of partnerships must be prepared according to IFRS.
#339914 on Dec 2023