Business, 16.02.2021 08:50 elijahbravo2819
QUESTION
The following trial balance was extracted from the books of Chipumalanga Enterprises as at 31 Lember, 2019 Dr
Particulars
Purchanes
Sales
Dewings
Reuma inwarh Returns outwards
the allowed Discounts received
Deh
Cros
Stock
Freehold premises at cit Mobil vehicles utmost
Furniture att
Provision for depreciation on motor vehicles Provision for depreciation on fumitur
Cash at bank Cash in hand
The in
14,100% 7.300.00
10.200.0
45.000.00
14.300.00
46,00000
12,00000 5000
1.40
Saluties 40.60000
Carriage inwards
Carriage outwands Printing and the y
22.200.00 10 000
3.600.00
Electricity and water 14.9000 HIKI ND
Institute
General expenses Provision for bad debt
34. VOD
Bad debt witten off 400.00
Capital Reni received
Commission received
The following information should be taken into account
Suck ut 31st December 2019 wus valuet ut Tsts 31, 800UK0,
680 300.00
Cr. Tahsin
S17,000.00
6200.00
8,400.00
37,100.00
4.500.00
200.00
11,200.00 680.300.00
ti) Acersed expenses at 31/12/2019 were salaries T S X 000 and electricity Tsh MX
Prepaid expenses at 31/12/2010 were insurance Tshs. 400.X) and general expenses Tshs.500,XI
(iv) Adjust mavision for bad debt to 24 debts and create provision for discount
allowable at 15 of debtors
(v) Commission due but yet to he received at 31/12/2019 amounted to Tsh. 800,00
(vi) Change depreciation on Non Current assets a follows, Furniture 20 on cost and
Motor vehicles: 1 cn cOnt
(vii) Rent received in advance at 31/12/2019 mounted to 4.21,000. (vii) Godh casting Tuhs. 1.200.000 were taken by the owner for private me. This was yet lo he recorded in the books
Answers: 3
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Business, 22.06.2019 19:30
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Our uncle has $300,000 invested at 7.5%, and he now wants to retire. he wants to withdraw $35,000 at the end of each year, starting at the end of this year. he also wants to have $25,000 left to give you when he ceases to withdraw funds from the account. for how many years can he make the $35,000 withdrawals and still have $25,000 left in the end? a. 14.21b. 14.96c. 15.71d. 16.49e. 17.32
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Business, 23.06.2019 03:20
Georgia orchards produced a good crop of peaches this year. after preparing the following income statement, the company is concerned about the net loss on its no. 3 peaches. georgia orchards income statement for year ended december 31, 2017 no. 1 no. 2 no. 3 combined sales (by grade) no. 1: 300,000 ibs. @ $1.50/lb $ 450,000 no. 2: 300,000 ibs. @ $1.00/lb $ 300,000 no. 3: 750,000 ibs. @ $0.25/lb $ 187,500 total sales $ 937,500 costs tree pruning and care @ $0.30/ib 90,000 90,000 225,000 405,000 picking, sorting, and grading @ $0.15/ib 45,000 45,000 112,500 202,500 delivery costs 15,000 15,000 37,500 67,500 total costs 150,000 150,000 375,000 675,000 net income (loss) $ 300,000 $ 150,000 $ (187,500 ) $ 262,500 in preparing this statement, the company allocated joint costs among the grades on a physical basis as an equal amount per pound. the company’s delivery cost records show that $30,000 of the $67,500 relates to crating the no. 1 and no. 2 peaches and hauling them to the buyer. the remaining $37,500 of delivery costs is for crating the no. 3 peaches and hauling them to the cannery. required: 1. prepare reports showing cost allocations on a sales value basis to the three grades of peaches. separate the delivery costs into the amounts directly identifiable with each grade. then allocate any shared delivery costs on the basis of the relative sales value of each grade. (do not round intermediate calculations.)
Answers: 1
QUESTION
The following trial balance was extracted from the books of Chipumalanga Enterprises as at...
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