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50,000: 10: Received cash from Rahul: 1,000: 15: Bought goods for cash: 8,000: 22: Bought goods by cheque: 10,000: 25: Paid to Shyam by cash: 20,000: 30: Drew from Bank for office use: 2,000: 31: Rent paid by cheque: ... (Financial Accounting 1) chapter 4 Recording of Transactions - II are Recording of Transactions 2, Meaning of Cash Book, Purchases …
Intermediate Accounting Inventories - Please show the complete solution on items 8, 9, 10. Image transcription text. Pugo uses the retail inventory method. The following information is available for. the current year: Cost Retail Beginning inventory P 1,300,000 P 2,600,000. Purchases 18,000,000 29,200,000 Freight in 400,000 Purchase r...
The investment is said to bring an inflow of Rs. 1,00,000 in first year, 2,50,000 in the second year, 3,50,000 in third year, 2,65,000 in fourth year and 4,15,000 in fifth year. Assuming the discount rate to be 9%. Let us calculate …Click here👆to get an answer to your question ️ Calculate value of goodwill on the basis of three years purchase of average profit of the preceding five years were as follows:year2017 - 182016 - 172015 - 162014 - 152013 - 14Profits(Rs) 8,00,000 15,00,000 18,00,000 4,00,000 …24 Şub 2023 ... Employer purchased Group Term Life Insurance coverage of $50,000 for each employee. The premium is $2 per employee per $1,000 sum assured ...Earn 50,000 bonus points worth $750 on travel when you spend $4,500 in the first 90 days of account opening. Earn 5X points on prepaid hotels and car rentals booked directly in the Altitude Rewards Center. Earn 3X points for every $1 spent on eligible travel purchases and 3X points on eligible mobile wallet purchases.P 50,000 Purchase returns .. 185,000 Selling expenses .. 357,000 Ending inventory .. 117,000 The cost of goods sold is equal to 400% of selling expenses. Compute the cost of goods available for sale. 1,545,000 Add : Opening value of W-I-P Less : Closing value of W-I-P 5,11,160 50,000 (24,000) Works / Factory Cost 5,37,160 Less : Realisable value on sale of scrap (5,000) Cost of Production Add : Opening stock of finished goods ... The joint cost of purchasing the crude vegetable oil and processing it were ` 40,000. Other details are as follows : Product Further …Sep 29, 2021 · Purchases ₹1,70,000 Creditors ₹50,000 Debtors ₹1,00,000 Building ₹2,50,000 Opening Stock ₹50,000 Cash at Bank ₹50,000 Commission Paid ₹11,000 Rent received ₹15,000 Drawings ₹4,000 Answer: Total of Trial Balance₹6,35,000. Question 7. From the following balances extracted from the books of Mr. K.K, prepare Trial Balance as on ...
P purchases a $50,000 whole life insurance policy in 2005. One of the questions on the application asks if P engages in scuba diving, to which P answers “No”. …24 Şub 2023 ... Employer purchased Group Term Life Insurance coverage of $50,000 for each employee. The premium is $2 per employee per $1,000 sum assured ...Master Direction - Liberalised Remittance Scheme (LRS) A. Liberalised Remittance Scheme (LRS) of USD 2,50,000 for resident individuals. 1. Under the Liberalised Remittance Scheme, Authorised Dealers may freely allow remittances by resident individuals up to USD 2,50,000 per Financial Year (April-March) for any permitted current or capital account …17 Haz 2021 ... Any purchase of real or personal property with SLFRF funds must be consistent with the Uniform Guidance at 2 CFR Part 200, Subpart D, unless ...Mr. Pratt, who had once pledged $1 billion to fight climate change at the Clinton Global Initiative, was a relative latecomer to Mr. Trump's corner. It was only after Mr. Trump won in 2016 that ...Cost of Goods Sold - COGS: Cost of goods sold (COGS) is the direct costs attributable to the production of the goods sold in a company. This amount includes the cost of the materials used in ...
The following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by Anthony J Cantone. Non-planned trade are trades that were not made as part of a 10b5-1 trading plan. The stock performance is charted as cumulative percent change in share price. For example, if an insider trade …A trading account’s assets are segregated from those held in a long-term buy-and-hold strategy. The profit and loss statement, abbreviated as P&L, is a financial statement that summarises revenues, expenditures, and expenses incurred during a specific time period, generally a fiscal year.Non-standard Purchase Order process · Payment transaction types and process · Set up PTAE codes · Invoice exception process · Procedures for POs over £50,000 ...Bank Overdraft 8,000 Land & Buildings 50,000 Opening Stock 20,000 Debtors 18,400 Purchases 80,000 Creditors 8,500 Purchases Returns 2,000 Bills Receivable 2,850 Sales 1,30,000 Bills Payable 1,650 Sales Returns 5,000 Capital 60,000 Travelling Expenses 1,800 Drawings 6,000 Discount Allowed 600 Rent 3,700Audit of Inventory Problems with Solutions. CHAPTER 5 – Audit of Inventory Exercises - Analysis of Transactions 1. Moneba Company bought merchandise on January 2, 2006 from Lynn Company costing P15,000; terms, less 20%, 20% down payment, balance 2/10, n/30. Two days after, P2,000 worth of merchandise was returned due to wrong specification.
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The vendor now offers a quantity discount of $0.02 per box if the company buys pens in. Suppose Stanley's Office Supply purchases 50,000 boxes of pens every year. Ordering costs are $100 per order and carrying costs are $0.40 per box. Moreover, management has determined that the EOQ is 5,000 boxes. Note: The ordering costs and EOQ differ from ...A 50.000 Mark German banknote issued in 1922 is not particularly valuable as a collectible, and it has no face value as an obsolete form of currency. The period in 1922 saw the rise of inflation and hyperinflation in Germany as it struggled...A P50,000 Purchases on account was paid after the expiration of the 2% discount period. The entry to record the payment would include (A) A. Debit to accounts payable for P50,000 B. Debit to accounts payable for P49,000 C. Debit to purchases discount for P1,000 D. Credit to cash for P49,000Mar 31, 2017 · 4. Operating profit earned by M/s Arora & Sachdeva in 2016-17 was ₹ 17,00,000. Its non-operating incomes were ₹ 1,50,000 and non-operating expenses were ₹ 3,75,000. Calculate the amount of net profit earned by the firm. Deposit of more than Rs. 50,000 (if in cash) per day: 11-Purchase of DD(Demand Drafts or banker’s cheques) from a Bank: Payment in cash for an amount more than Rs. 50,000 per day: 12-Time deposit with a Bank, Post Office, Nidhi companies, NBFCs: Amount of more than Rs. 50,000 per day or more than Rs. 5,00,000 during a …The new accounting equation would be: Assets $30,200 (Cash $13,900 + Supplies $500 + Prepaid Rent $1,800 + Equipment $5,500 + Truck $8,500) = Liabilities $200 + Equity $30,000. 7. Selling services for cash. During the month of February, Metro Corporation earned a total of $50,000 in revenue from clients who paid cash.
15. Transcribed Image Text: A company purchased a building worth $500,000 by paying $50,000 in cash and acquiring a bank loan for the remainder. The effect on the accounting equation is: Increase in assets and liabilities by $500,000 Decrease in assets and liabilities by $50,000 Increase in assets and liabilities by $450,000 Decrease in assets ...Allowance for doubtful accounts (40,000) (50,000) Net accounts receivable 1,110, 1,400, Inventory 300,000 450, Accounts receivable 800,000 750, All purchases of inventory were on account. The entity provided the following income statement information for the current year:Sold goods to Sherpa at the list price of ₹ 50,000 less 20% trade discount and 4% cash discount if the payment is made within 7 days. 75% payment is received by cheque on Jan. 23rd. Jan. 25: Sold goods to Garima for ₹ 1,00,000, allowed her 20% trade discount and 5% cash discount if the payment is made within 15 days.Mrs. S deposited Rs.1,00,000 in a nationalized bank for 3 years. If the rate of interest is 7 % p.a., calculate the interest that banks has to pay to Mrs. S after 3 years if interest is compounded annually. S borrows Rs 5,00,000 to buy a house. If he pays equal installments for 20 years and 10% interest on outstanding balance what will be the ...Yes, Google is tracking your purchases, but this isn’t a new thing. Google’s collection mechanisms—information it pulls in from your Gmail—have been going on for some time. If this is your first time hearing about this mess, visit this page...3. PL Ltd. has three production departments P 1, P 2 and P 3 and two service departments S 1 and S 2. The following data are extracted from the records of the company for the month of October, 2020: (`) Rent and rates 12,50,000 General lighting 1,50,000 Indirect Wages 3,75,000 Power 5,00,000 Depreciation on machinery 10,00,000HDFC bank has been named among 50 most valuable banks in 2014. It has got 45th rank. Wells Fargo & Co. has got first rank in this list. This bank belongs to which country?S&P 500 Periodic Reinvestment Calculator (With Dividends) Investing. Written by: PK. Below is a S&P 500 Periodic Reinvestment Calculator. It allows you to run through investment scenarios as if you had been invested in the past. It includes estimates for dividends paid, dividend taxes, capital gains taxes, management fees, and inflation.A. Debit to purchases of P45,510 B. Credit to purchases of P3,900 C. Net debit to purchases of P 41,610 D. Net credit to purchases of P 41,610. 4. The net adjustment to accounts payable is A. P3,900 increase C. P41,610 increase B. P3,900 decrease D. P41,610 decrease 5.
Q.2 On 1st April, 2019, X Ltd. purchased a machine costing ₹ 4,00,000 and spent ₹ 50,000 on its installation. The estimated life of the machinery is 10 years, after which its residual value will be ₹ 50,000 only. Find the amount of annual depreciation according to the Fixed Instalment Method and prepare ... Q.10 On 1st July, 2015, A Co. Ltd. purchases second …
(iv) Bank term loan interest actually paid up to 31.03 was Rs. 20,000 and the balance was paid in November 2021. (v) Housing loan principal repaid during the year was Rs. 50,000 and it relates to residential property acquired by him in P. 2019-20 for self-occupation. Interest on housing loan was Rs. 23,000.Inventory 50,000 Cost of sales Purchases 50,000 Accounts payable 3. Inventory 20,000 Cost of sales 4. ... P 1,411,100 Purchase Register 12/27 RR#545 12/28 547 12/29 ...(a) Working hours of production departments are P-6226 hours, Q-4028 hours and R-4066 hours. (b) Services rendered by service departments are as under: P Q R X Y Department X 20% 30% 40% — 10% Department Y 40% 20% 30% 10% — Required: (i) Calculate the total overhead of production departments distributing the costMary purchases an increasing annuity immediate for 50,000 that makes 20 annual payments as follows: (i.) P, 2P, ...., 10P in years 1 through 10; (ii.) 10P (1.05), 10P …For example, if you invest all $50,000 in a mutual fund that charges a 1% expense ratio, you'll pay more than $13,000 in fees over the course of 30 years. If you choose a fund that charges 0.25% ...Answer: Depreciation = Purchase Price - Salvage Value Useful Life of the Asset = ₹1,00,000 - ₹ 20,000 10 Years = ₹ 8,000 5. Purchase goods for ₹10,000 and receive trade discount at 10% and cash discount of 5%. Purchases account will be debited by: 1 (a) ₹ 10,000 (b) ₹ 1,000 (c) ₹ 9,000 (d) ₹ 8,550 Answer: ₹ 9,000.The payment of cash dividends, Compute the cash flows from operations using the indirect method if Star Corporation had $250,000 in net income, $30,000 in depreciation expense, a decrease of $20,000 in accounts receivable and an increase in bonds payable of $50,000. A. $250,000 B. $300,000 C. $310,000 D. $370,000 and more.Answer: Depreciation = Purchase Price - Salvage Value Useful Life of the Asset = ₹1,00,000 - ₹ 20,000 10 Years = ₹ 8,000 5. Purchase goods for ₹10,000 and receive trade discount at 10% and cash discount of 5%. Purchases account will be debited by: 1 (a) ₹ 10,000 (b) ₹ 1,000 (c) ₹ 9,000 (d) ₹ 8,550 Answer: ₹ 9,000.The average trade profitability is the average return of all the open market purchases made by the insider in the last three years. To calculate this, we examine every open-market, unplanned purchase made by the insider, excluding all trades that were marked as part of a 10b5-1 trading plan. ... 50,000 4.4481 50,000 4.4481 222,405 2020-03-16 ...
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A company purchased plant for 50,000. The useful life of the plant is 10 years and the residual value is 5,000. The management wants to depreciate it by straight line method. Rate of depreciation will be: Medium. View solution > Original cost …M Purchases a 70,000 in life insurance policy with premium payments of 550 a year for the first five years. At the beginning of the six-year the premium will increase to $800 per year for main level there after. ... P Purchases 50,000 whole life insurance policy in 2005. One of the questions on the application ask if he engages in scuba diving ...Any excess of cost over book value was attributed to equipment with a 10-year life. On July 1, 2020, Company P purchased another 10% interest for $160,000. Company S’s equity was $550,000 on January 1, 2020, and it earned $50,000 evenly during 2020. Company P had internally generated net income of $120,000 during 2020.The statement summarises the cost of manufacturing a particular list of product and discloses for a particular period: (I) Prime Cost; (II) Works Cost (or) Factory Cost; (III) Cost of Production; (IV) Total Cost (or) Cost of Sales. Importance of Cost Sheet (1) It provides for the presentation of the total cost on the basis of the logical ...The owner can lower the amount of equity by making withdrawals. The withdrawals are considered capital gains, and the owner must pay capital gains tax depending on the amount withdrawn. Another way of lowering owner’s equity is by taking a loan to purchase an asset for the business, which is recorded as a liability on the balance sheet.4. Drip-feed your portfolio. One way to mitigate uncertainty is to remain committed to investing set amounts of money on a regular basis. So rather than invest £50,000 as one entire lump sum, you ...Click here👆to get an answer to your question ️ Calculate value of goodwill on the basis of three years purchase of average profit of the preceding five years were as follows:year2017 - 182016 - 172015 - 162014 - 152013 - 14Profits(Rs) 8,00,000 15,00,000 18,00,000 4,00,000 …U.P. Sugar Works Ltd. was registered on 1st January, 2019 with an authorised capital of ₹ 15,00,000 divided into 15,000 shares of ₹ 100 each. ... Amrit Ltd. issued 50,000 shares of ₹ 10 each at a premium of ₹ 2 per share payable as ₹ 3 on application, ₹ 4 on allotment (including premium) , ₹ 2 on first call and the remaining on ...Opening Inventory of Materials ₹3,50,000; Finished Goods ₹75,000; Stock-in-Trade ₹2,00,000; Closing Inventory of: Materials ₹3,25,000; Finished Goods ₹85,000; Stock-in-Trade ₹1,50,000; Purchases during the year: Raw Material ₹17,50,000; Stock-in-Trade ₹9,00,000. ... Opening, Closing and Purchases of Stock-in-Trade are not ...These 50,000 shares were purchased by Adam for P120 per share. On August 30, 2016, Bland distributed 50,000 stock rights to Adam. Adam was entitled to buy one new share of Bland Company for P90 cash and two of these rights. On August 30, 2016, each share had a market value of P and each right had a market value of P20.Everyone has some way of keeping up with their purchases. If it's not an old-fashioned checkbook, then your bank's software or a service like Mint can track your expenditures. When logging your expenditures, try adding a section with how ha...(iii) An advance of ₹ 10,000 given alongwith purchase order was wrongly recorded in purchases. (iv) General expenses include ₹ 20,000 paid for Wages. (v) Wages include a sum of ₹ 50,000 spent on the erection of a Scooter Stand for employees. (vi) Advance for Furniture is for furniture at proprietor's residence. ….
P purchases a $50,000 whole life insurance policy in 2005. One of the questions on the application asks if P engages in scuba diving, to which P answers "No". The policy is then issued with no scuba exclusions. In 2010, P takes up scuba diving and dies in a scuba-related accident in 2011. What will the insurer pay to P's beneficiary?By P & L A/c : Loss. (b.f.). 1,150. 19,000. 19,000. Illustration 10. A machinery is sold ... purchased from Delhi Motors 3 Tempos costing ` 50,000 each on the ...Work-in-process 68,000 50,000 Finished goods 79,000 40,000 Raw materials used in manufacturing during the year were $118,000. Raw materials purchases during the year were: a) $107,000 b) $115,000 c) $118,000 d) $121,000 6. Total manufacturing costs incurred do not include: a) Direct materials used b) Factory supplies usedPurchase = 50,000 boxes. Ordering Cost = 0.40 USD per box. Economic Order Quantity: 5000 boxes. Our EOQ is 5000: Find the costs related to the offer without it first, then. Ordering Cost is equal to (50000/5000) x 100, or USD $1000. Carrying Cost is equal to (5000/2) x 0.4, or USD $1000. Before accepting the offer, the total cost was 1000 ...Profit and loss account is made to ascertain annual profit or loss of business. Only indirect expenses are shown in this account. All the items of revenue and expenses whether cash or non-cash are considered in this account. Understand the concept of Trading Account here in detail. Only the revenue or expenses related to the current year are ...child. P purchases a $50,000 whole life insurance policy in 2005. One of the questions on the application asks if P engages in scuba diving, to which P answers "No". The policy is then issued with no scuba exclusions. In 2010, P takes up scuba diving and dies in a scuba-related accident in 2011.4.1. The statement of retained earnings for 2019 showed net income of P1,500,000 and. cash dividend paid of P300,000. 2. During the year, the entity purchased equipment for cash and issued share capital. for cash. Required: Prepare a statement of cash flows for the current year using the indirect method. f Answer: Study with Quizlet and memorize flashcards containing terms like If X wants to buy $50,000 worth of permanent protection on his/her spouse and $25,000 worth of 10-year Term coverage on X under the same policy, the applicant should purchase, P is looking to purchase a life insurance policy that will pay a stated monthly income to his beneficiaries for 20 years after he dies and a lump sum of ... P purchases a 50000, [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1]