P purchases a 50000. Cash 53, Sales discount [(100,800 – 50,000) x 2%] 1, A...

Non-state entities are allowed to self-certify in ord

Answer to Solved Suppose Stanley's Office Supply purchases 50,000HP Ryzen 5 Hexa Core 5500U - (8 GB/512 GB SSD/Windows 11 Home) 14s-fq1092au Thin and Light Laptop. Rs 49490. HP Pavilion Ryzen 5 Hexa Core 5625U - (8 GB/512 GB SSD/Windows 11 Home) 14-EC1003AU Thin and Light Laptop. Rs 54990. HP Core i3 11th Gen - (8 GB/512 GB SSD/Windows 10 Home) 14s-dq2606tu Thin and Light Laptop.If you need the sum for the values with the same order id and customer id, then you need to group the rows based on both customer id and order id. SELECT c.CustomerID,o.OrderID,SUM (ord.Quantity*p.Price) as Total_Amount from Customers c inner join Orders o inner join Products p inner join OrderDetails ord on c.CustomerID = …The government owns more than 650,000 vehicles and purchases about 50,000 annually. Biden's executive order said that light-duty vehicles acquired by the government will be emission-free by 2027.Gross Profit = 30% on Cost Let the Cost of Goods sold be ' x ' Gross Profit = 30 100 x Cost of Good Sold = Sales − Gross Profit x = 19,50,000 − 30 100 x x + 30 100 x = 19,50,000 100 x + 30 x 100 = 19, 50, 000 x = 19, 50, 000 × 100 130 = Rs 15, 00, 000 Cost of Good Sold = Opening Stock + Net Purchases + Direct Expenses − Closing Stock 15 ... (b) Cash purchases Rs. 1,38,000 and Purchases Returns were Rs. 18,000. (c) Cash sales Rs. 1,50,000 and Sales returns were Rs. 6,000. Rate of gross profit 25% on sales and actual gross profit was Rs. 1,50,000. Solution – 4 (Problem related to find out missing item)(a) Acquired machinery for ₹2,50,000 paying 20% by cheque and executing a bond for the balance payable. (b) Paid ₹2,50,000 to acquire shares in Informa Tech Ltd. and received a dividend of ₹50,000 after acquisition. (c) Sold machinery of original cost of ₹2,00,000 with an accumulated depreciation of ₹1,60,000 for ₹60,000.Here you can find the meaning of P & Q entered into a joint venture. P purchased 5,000 units of goods at Rs.30 each. Q sold Rs.4,800 units at Rs.50 each. The remaining goods were taken over by Q at a value of Rs.5,000. P is allowed a commission of 2% on purchases and Q is allowed a commission of 1% on sales.Cost of Goods Sold = Opening Stock + Purchases + Direct Expenses – Closing Stock Cost of Goods Sold = 40,000 + 50,000 + 10,000 – 15,000 = ₹ 85,000 Question 3(B) Ascertain cost of Goods Sold and Gross Profit from the following: ₹ Opening Stock 32,000 Purchases 2,80,000 Direct Expenses 20,000 Indirect Expenses 45,000 Closing Stock 50,000 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 ...Non-state entities are allowed to self-certify in order to use micro-purchase procedures up to $50,000 on an annual basis, provided that certain conditions at 2 C.F.R. § 200.320(a)(1)(iv) are met and the non-state entity must maintain documentation available to FEMA and auditors. The self-certification must include a justification, clear ...Now, when the company returns the goods against the purchases made previously, then the cash account or accounts payable account for the cash purchases or credit purchases, respectively, will be debited with a corresponding credit to the goods purchase return journal entry as there is the return of the goods out of the company to the supplier. . Therefore, the …(vi) Goodwill is to be valued at 2 years' purchase of last 3 years profits. Profits being for 2018-19 − ₹ 50,000 (Loss); 2017-18 − ₹ 2,50,000 and 2016-17 − ₹ 2,50,000. (vii) C was to carry out the work for reconstituting the firm at a remuneration (including expenses) of …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.HP Ryzen 5 Hexa Core 5500U - (8 GB/512 GB SSD/Windows 11 Home) 14s-fq1092au Thin and Light Laptop. Rs 49490. HP Pavilion Ryzen 5 Hexa Core 5625U - (8 GB/512 GB SSD/Windows 11 Home) 14-EC1003AU Thin and Light Laptop. Rs 54990. HP Core i3 11th Gen - (8 GB/512 GB SSD/Windows 10 Home) 14s-dq2606tu Thin and Light Laptop.Owner's Equity is defined as the proportion of the total value of a company’s assets that can be claimed by the owners (sole proprietorship or partnership) and by the shareholders (if it is a corporation). It is calculated by deducting all liabilities from the total value of an asset (Equity = Assets – Liabilities).Particulars Process P Process Q Process R Direct Material 38,000 42,500 42,880 Direct Labour 30,000 40,000 50,000 Production overheads of ` 90,000 were recovered as percentage of direct labo ur. 10,000 kg of raw material @ ` 5 per kg. was issued to Process P. There was no st ock of materials or work in process.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. 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 ...(80% x 1,50,000 units x ` 14) - ` 16,80,000 Total price - ` 28,80,000 (e) The annual demand for a product is 6,400 units. The unit cost is `6 and inventory carrying cost per unit per annum is 25% of the average inventory cost. If the cost of procurement is `75, what is the time between two consecutive orders ? Answer. EOQ = ` 6 x 25/100The 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 ...(iv) M/s. Power Track Ltd. purchased a plant for US $ 50,000 on 3st October, 2017 payable after 6 months. The company entered into a forward contract for 6 months @ Rs.64.25 per Dollar. On 31st October, 2017 the exchange rate was Rs.61.50 per Dollar. The profit or loss on forward contract for the year ended 31stSep 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 ... SI = P x R x T/ 100. Where, SI = Simple Interest. P = Principal (amount invested) R = Rate of Interest (in %) T = Tenure (time for which deposit is kept in FD account) For example, if a sum of Rs 10,000 is invested for 3 years at 10% p.a. then at the time of maturity, SI = 10,000*10*3/100 = Rs 3,000. Maturity Amount = Rs 13,000Purchases 410, Month end additional data Ending inventory of Branch 1,460, From Home Office at Billed Price P1,170, ... P26,000 (P1,000) b. P25,000 (P4,000) c. P26,000 P1, d. P20,000 P 800c 18 balances before adjustments for the home office and the branch of the King Company show the following items on December 31. The home office bills the ...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.P purchases a $50,000 term life insurance policy in 2005. One of the questions on the application ask 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.Use the following information for the next four ( 4 ) questions: One Man Company provided the following information on selected transactions during 2015: Purchase of land by issuing bonds 250, Proceeds from issuing bonds 500, Purchases of inventory 950, Purchases of treasury shares 150, Loans made to affiliated corporations 350, Dividends paid to …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 ...20. A Plant was purchased on 1st July, 2015 at a cost of ₹ 3, 00,000 and ₹ 50,000 were spent on its installation. The depreciation is written off at 15% p.a. on the straight line method. The plant was sold for ₹ 1, 50,000 on October 01, 2017 and on the same date a new Plant was installed at the cost of ₹ 4, 00,000 including purchasing ...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 50,000 48 9.86 2021-02-17: BITE: Smart ...Opening Stock - `50,000; Closing Stock - `80,000; Material Consumed - `3,90,000 Answer: (i) Inventory turnover ratio (Refer to working note) = Average stock of raw material Cost of stock of raw material consumed = ` 65000 ` 360000,, , = 5.54 times (ii) Average number of days for which the average inventory is held = 5 54 365 365. daysFinance. Finance questions and answers. Suppose Stanley's Office Supply purchases 50,000 boxes of pens every year. Ordering costs are $57.8 per order and carrying costs are $0.50 per box. The vendor now offers a quantity discount of $0.02 per box if the company buys pens in order sizes of 10,000 boxes. Determine the before-tax benefit or loss ... 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 ...4.Now, when the company returns the goods against the purchases made previously, then the cash account or accounts payable account for the cash purchases or credit purchases, respectively, will be debited with a corresponding credit to the goods purchase return journal entry as there is the return of the goods out of the company to the supplier. . Therefore, the …Discover the benefits of a $50,000 whole life policy, including final expense and senior life insurance options. Our comprehensive guide covers everything from simplified issue to guaranteed issue policies, as well as the pros and cons of no medical exam life insurance. Compare rates, learn about the death benefit and permanent coverage, and get answers to frequently asked questions to make an ...Jan. 8 Cash purchases 8,000 Jan. 10 Sold goods to Ahmed & Co., Lucknow 10,000 Jan. 11 Deposited cash in bank 50,000 Jan. 13 Purchased a computer for office 20,000 Jan. 15 Took a loan from Mehboob 70,000 Jan. 16 Goods returned by Ahmed & Co. 2,000 Jan. 17 Purchased furniture from Mehfil Mart, Kolkata 10,000Jan 1, 2016 · A.On January 1, 2016, Company P purchases 100% of Company S voting stock for $800,000 cash, and Company P maintains Company S as a subsidiary. At the date of purchase, Company S reavealed the following: assets $900,000, liabilities $100,000, common stock, $300,000, and retained earnings $500,000. Required: A. Study with Quizlet and memorize flashcards containing terms like 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. Beginning inventory P 50, Net purchases 150, Net sales 300, Percentage markup on cost 66%. A fire destroyed Joseph’s October 31 inventory, leaving undamaged inventory with a cost of P3,000. Using the gross profit method, the estimated ending inventory destroyed by fire is. a. P17, b. P77, c. P80, d. P100, SOLUTION: Purchases of commercial software packages 1,200,000 Returns and allowances 50,000 Purchase discounts taken 17,000 Purchases were made throughout the year on terms 2/10,n/30. All returns and allowances took place within purchase and prior to any payment on account.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 P49,000A.On January 1, 2016, Company P purchases 100% of Company S voting stock for $800,000 cash, and Company P maintains Company S as a subsidiary. At the date of purchase, Company S reavealed the following: assets $900,000, liabilities $100,000, common stock, $300,000, and retained earnings $500,000. Required: A.Suppose an entity purchases p50000 goods on credit. Doc Preview. 1. Which of the following journal entry is correct for the transactions of goods returned by a customer? a) …Cost of Goods Sold = Opening Stock + Purchases + Direct Expenses – Closing Stock Cost of Goods Sold = 40,000 + 50,000 + 10,000 – 15,000 = ₹ 85,000 Question 3(B) Ascertain cost of Goods Sold and Gross Profit from the following: ₹ Opening Stock 32,000 Purchases 2,80,000 Direct Expenses 20,000 Indirect Expenses 45,000 Closing Stock 50,000 A.On January 1, 2016, Company P purchases 100% of Company S voting stock for $800,000 cash, and Company P maintains Company S as a subsidiary. At the date of purchase, Company S reavealed the following: assets $900,000, liabilities $100,000, common stock, $300,000, and retained earnings $500,000. Required: A.Here you can find the meaning of P & Q entered into a joint venture. P purchased 5,000 units of goods at Rs.30 each. Q sold Rs.4,800 units at Rs.50 each. The remaining goods were taken over by Q at a value of Rs.5,000. P is allowed a commission of 2% on purchases and Q is allowed a commission of 1% on sales.Audit 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.Purchase price = 50000 – 15% of 50000 = 50000 - 7500 = 42500 Sales Price = 42500 + 25% of 42500 = 42500 + 10625 = 53125 Final Sale Price = 53125 – 10% of 53125 = 53125 – 5312.5 = 47812.5 . TS Grewal Solutions for Class 11 Accountancy Chapter 5 - Journal Q.4 Journalise the following transactions in the books of Bhushan Agencies: (i) Received …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 10.3455 50,000 10.3455 517,275 2022-04-07 ...A share purchase right is an instrument that entitles the holder to purchase a specified number of shares at a specified price. A share purchase right is an instrument that entitles the holder to purchase a specified number of shares at a s...compared with ₹ 4,50,000 in 2014, and profit in 2015 was ₹ 42,000 higher than that in 2014. (i) At what level of sales does the company break-even? (ii) Determine profit or loss on a forecast sales volume of ₹ 8,00,000 (iii) If there is a reduction in selling price by 10% in …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 3,700 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 ...education, and non -profit organizations to self-certify a micro-purchase threshold up to $50,000 on an annual basis or request a micro-purchase threshold higher than $5 0,000 consistent with the requirements at 2 C.F.R. 200.320(a)(1)(ii)-(v). However, non-state entitie s must still ensure they follow any applicable state/tribal/local•Recorded at cost •Includes all costs necessary to make the intangible asset ready for its intended use •Typical costs include:-Purchase price-Legal fees-Other incidental expenses If a company acquires intangibles in exchange for stock or other assets, the cost of the intangible is...GST, exceeds ` 2,50,000. Here the same will be below ` 2,50,000 [ 2 ,65 ,000 x 100/118]. Hence the liability is nil. (iii) B Balance of the ITC is shown in Electronics credit ledger. Electronic cash ledger shows the GST deposited to the credit of the Govt. The set off of GST and the balance liability is reflected in Electronic Liability ledger.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 ...Many insureds purchase a policy without understanding what is covered, the ... $50,000, etc.). The Insuring Agreement. This is a summary of the major ...(a) Invested Rs. 4,00,000 cash and office equipment with Rs.1,50,000 in a business called Bobbie Consulting. (b) Purchased land and a small office building. The land was worth Rs. 3,00,000 and the building worth Rs. 7,00,000. The purchase price was paid with Rs. 2,00,000 cash and a long term note payable for Rs. 8,00,000.Net Purchases, 50,000, Rent Paid, 15,000 ... (Rs). Cost of Goods Sold, 12,10,000, Sales, 15,00,000. Gross Profit (Balancing Figure), 2,90,000. Advertisement Advertisement New questions in Accountancy. receive from Hero Limited rupees 8850 Discount allowed ₹ 150 introduced additional capital rs 40,000 Sanya was traveling …$50,000 D. $100,000C. $50,000 B owns a Whole Life policy with a guaranteed ... P will have to pay income taxes on the amount of premiums waived C. P will ...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 20.0000 50,000 20.0000 1,000,000 Adjusted ...Opening Stock - `50,000; Closing Stock - `80,000; Material Consumed - `3,90,000 Answer: (i) Inventory turnover ratio (Refer to working note) = Average stock of raw material Cost of stock of raw material consumed = ` 65000 ` 360000,, , = 5.54 times (ii) Average number of days for which the average inventory is held = 5 54 365 365. daysAstin records purchases gross. Oct 1 Issued a $50,000, 12-month, 8% note to Encino in payment of account. 1. 2. amounts paid in excess of $118,500 to certain employees. The amount paid to employees in excess of. $7,000 was $400,000. Income taxes in the amount of $80,000 were withheld, as was $9,000 in union dues.Now, when the company returns the goods against the purchases made previously, then the cash account or accounts payable account for the cash purchases or credit purchases, respectively, will be debited with a corresponding credit to the goods purchase return journal entry as there is the return of the goods out of the company to the supplier. . Therefore, the …50,000 12% Preference shares of Rs.10 each 5,00,000 4,00,000 Equity shares of Rs.10 each 40,00,000 45,00,000 Issued and Subscribed Capital: 24,000 12% Preference shares of Rs.10 each fully paid 2,40,000 ... Less: purchase of machinery 50000 (16000) 3. Cash flow from financing activities Repayment of bank loan (140000) Payment of dividend (46000) …Astin records purchases gross. Oct 1 Issued a $50,000, 12-month, 8% note to Encino in payment of account. 1. 2. amounts paid in excess of $118,500 to certain employees. The amount paid to employees in excess of. $7,000 was $400,000. Income taxes in the amount of $80,000 were withheld, as was $9,000 in union dues.5 Nis 2017 ... Purchases through Central Purchase Organisation (DGS&D) or other such agencies ... P. For example, if M&L are from India and P is in $, then Eo ...Use the following information for the next two ( 2 ) questions: Napier Company provided the following information on selected transactions during 2020: Purchase of land by issuing bonds 250, Proceeds from issuing bonds 500, Purchases of inventory 950, Purchases of treasury shares 150, Loans made to affiliated corporations 350, Dividends paid to ...2017. Jan. 2: Purchased Typewriter for ₹ 7,500. 4: Sold goods for Cash of the list price of ₹ 25,000 at 20% trade discount and 5% Cash discount. 6child. 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.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 ... Answer: P 425, 2. Pink Company incurred the following costs during the month; direct labor, P120,000; factory overhead, P108 000; and direct materials purchases, P160,000. Inventories show the following cost: Beginning Ending. Finished goods.....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.Study with Quizlet and memorize flashcards containing terms like 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.Solution for owing A/R, beg. P100,000 Iny, beg. P50,000 Purchases P90,000 Purchases Discount P5,000 Collections P200,000 How much is the vatable sales? a.…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 Ps beneficaryThe 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. Entire Contract Provision. Study with Quizlet and memorize flashcards containing terms like The accidental death and dismemberment provision in a life insurance policy would pay additional benefits if the insured, P purchases a $50,000 whole life insurance policy in 2005.Insider Purchases MIMO / Airspan Networks Holdings Inc - Short Term Profit Analysis. ... 50,000 15.0000 50,000 15.0000 750,000 176 18.3000 165,000 22.00 2022-05-23: NCLH: Galbut Russell W: 50,000 15.2500 50,000 15.2500 762,500 Adjusted Price is the split-adjusted price.Aug 25, 2022 · Non-state entities are allowed to self-certify in order to use micro-purchase procedures up to $50,000 on an annual basis, provided that certain conditions at 2 C.F.R. § 200.320(a)(1)(iv) are met and the non-state entity must maintain documentation available to FEMA and auditors. The self-certification must include a justification, clear ... answered. 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.P50,000 Purchases P90,000 Purchases Discount P5,000 Collections P200,000 How much is the vatable sales? a. P250,000 b. P240,000 How much is the output vat? a. P27, 600 …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.PURCHASES JOURNAL Comp Purchase Purchases Input tax A/P Cash Purchases Date from Debit Debit Credit Credit 6 BBB 70,000 8,400 78,400 12 DDD 35,000 4,200 39,200 13 XXX 40,000 4,800 44,800 25 FFF 45,000 5,400 50,400 Total 145,000 17,400 123,200 39,200 SALES JOURNAL 162,400 162,400 A/R Cash Sales Sales Output tax Date Sold to Debit Debit Credit ... •Recorded at cost •Includes all costs necessary to make the intangible asset ready for its intended use •Typical costs include:-Purchase price-Legal fees-Other incidental expenses If a company acquires intangibles in exchange for stock or other assets, the cost of the intangible is...254 Accountancy : Company Accounts and Analysis of Financial Statements Cash Outflows from financing activities l Cash repayments of amounts borrowed. l Interest paid on debentures and long-term loans and advances. l Dividends paid on equity and preference capital. It is important to mention here that a transaction may include cash flowsMary 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 …PURCHASES JOURNAL Comp Purchase Purchases Input tax A/P Cash Purchases Date from Debit Debit Credit Credit 6 BBB 70,000 8,400 78,400 12 DDD 35,000 4,200 39,200 13 XXX 40,000 4,800 44,800 25 FFF 45,000 5,400 50,400 Total 145,000 17,400 123,200 39,200 SALES JOURNAL 162,400 162,400 A/R Cash Sales Sales Output tax Date Sold to Debit Debit Credit .... The cash and bank balance on 1st October is e3. PL Ltd. has three production departments P 1, P 2 and P 3 an Calculate Return on Investment (ROI) from the following details. Net Profit after Tax ₹6,50,000. Rate of Income Tax 50%, 10% Debentures of ₹100 each ₹10,00,000; Fixed Assets at Cost ₹22,50,000, Accumulated Depreciation on Fixed Assets up to date ₹2,50,000. Current Assets ₹12,00,000, Current Liabilities ₹4,00,000. Study with Quizlet and memorize flashcards containing te Click here👆to get an answer to your question ️ From the following information prepare trading and profit and loss account of M/s Indian sports house for the year ending December 31, 2011.Account TitleAmt. (Rs)Account TitleAmt. (Rs)Drawings20,000Capital2,00,000Sundry Debtors80,000Return Outwards2,000Bad Debts1,000Bank Overdraft12,000Trade … The new accounting equation would be: Assets $30,200 (C...

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