Accountancy
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The cost sheet of POR Ltd. Provides the following data : Cost per unit Raw materials Rs. 50 Direct Labor 20 Overheads (including depreciation of Rs.10) 40 Total cost 110 Profits 20 Selling price 130 1) a) Average raw material in stock is for one month. b) Average materials in work in progress is for half month. c) Credit allowed by suppliers; one month; d) credit allowed to debtors; one month. e) Average time lag in payment of wages; 10 days; f) average time lag in payment of overheads 30 days 2) 25% of the sales are on cash basis. 3) Cash balance expected to be Rs.1,00,000 4) Finished goods lie in the warehouse for one month. You are required to prepare a statement of the working capital needed to finance a level of the activity of 54,000 units of output. Production is carried on evenly throughout the year and wages and overheads accrue similarly. Debtors are to be valued at cost.you iz so good in drawing Nancy (◍•ᴗ•◍)
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Subject:
Accountancy -
Author:
nemo75 -
Created:
1 year ago
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What is called securities premium for the company?
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Subject:
Accountancy -
Author:
savionlandry -
Created:
1 year ago
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The cost sheet of POR Ltd. Provides the following data :
Cost per unit
Raw materials Rs. 50
Direct Labor 20
Overheads (including depreciation of Rs.10) 40
Total cost 110
Profits 20
Selling price 130
1) a) Average raw material in stock is for one month.
b) Average materials in work in progress is for half month.
c) Credit allowed by suppliers; one month;
d) credit allowed to debtors; one month.
e) Average time lag in payment of wages; 10 days;
f) average time lag in payment of overheads 30 days
2) 25% of the sales are on cash basis.
3) Cash balance expected to be Rs.1,00,000
4) Finished goods lie in the warehouse for one month.
You are required to prepare a statement of the working capital needed to finance a level of the activity of 54,000 units of output. Production is carried on evenly throughout the year and wages and overheads accrue similarly. Debtors are to be valued at cost.
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Subject:
Accountancy -
Author:
midnight20 -
Created:
1 year ago
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Closing balance of cash is obtained by preparing--------- O Cash A/C A/ O Creditor A/C O Balance sheet O Debtors A/C
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Subject:
Accountancy -
Author:
giovani -
Created:
1 year ago
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Explain the Methods and Techniques of Departmental Accounting.
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Subject:
Accountancy -
Author:
jaydinrocha -
Created:
1 year ago
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difference between purchase book and purchase account
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Subject:
Accountancy -
Author:
kieranfuentes -
Created:
1 year ago
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what is compensatory error? how to rectify these error? explain with illustration.
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Subject:
Accountancy -
Author:
jakobe -
Created:
1 year ago
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15 transactions on the busines of chocolate factory and prepare journal lelger and trial balance in accounts for project file of class 11
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Subject:
Accountancy -
Author:
rayne -
Created:
1 year ago
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un Simple Petty Cash Book is like a a) Cash Book (e) Journal for Statement (d) None of these
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Subject:
Accountancy -
Author:
elisabethvelasquez -
Created:
1 year ago
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From the following ledger balances prepare trial balance:-Proprietor's capital account 119400Bills Receivable 9500Wages 40 970Sundary debtors 62000Bank loan 20000Purchase 256590Commission received 5640Rent 5620Proprietors drawing account 10550Plant and machinery 28800Salaries 11000Sundry creditors 60830Returns inward 2780Sales 356 430Discount allowed 5870Opening stock 89680Travelling expenses 1880Cash 530Repairs 3370Furniture 8970Input cgst 5100 input sgst 5100 insurance 400 Bank debit balance 18970 bad debt 3620Output cgst 4500 output GST 4500Closing stock 128960Trial balance total must be 5,71,300
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Subject:
Accountancy -
Author:
brodie -
Created:
1 year ago
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shiv,mohan and gopal are partners sharing profits and losses in the ratio of 2:2:1. shiv is enttled yo a commission of 10% on the net profit. net profit for the year is rupees 1,10,000. determine the amount of commission payable to shiv
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Subject:
Accountancy -
Author:
nelson65 -
Created:
1 year ago
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difference between partial repossession and complete repossession
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Subject:
Accountancy -
Author:
aldo59 -
Created:
1 year ago
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Items of expenses not connected with any department are ______________. a)Charged to the General Profit & Loss Account b)Charged to departments on the basis of fixed assets employed c)Transfer to the Balance Sheet d)Charged to departments on the basis of total sales
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Subject:
Accountancy -
Author:
weiner -
Created:
1 year ago
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what is suspense account? class 11
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Subject:
Accountancy -
Author:
vivian -
Created:
1 year ago
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Kanika, Disha and Kabir were partners sharing profits in the ratio of 2:1:1. On 31st March, 2016, their Balance Sheet was as under: ₹ Assets Liabilities Bank 53,000 47,000 2,00,000 1,00,000 80,000 Trade creditors Employees' Provident Fund Kanika's Capital Disha's Capital Kabir's Capital Debtors Stock 60,000 60,000 1,00,000 2,40,000 20,000 Fixed Assets Profit and Loss A/C 4,80,000 4,80,000 Kanika retired on 1st April , 2016. For this purpose, the following adjustments were agreed upon: (a) Goodwill of the firm was valued at 2 years' purchase of average profits of three completed years preceding the date of retirement. The profits for the year: 2013-14 were 1,00,000 and for 2014+15 were 1,30,000. 4115 (b) Fixed Assets were to be increased to 3,00,000. (c) Stock was to be valued at 120%. (d) The amount payable to Kanika was transferred to her Loan Account. Prepare Revaluation Account, Capital Accounts of the partners and the Balance Sheet of the reconstituted firm.
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Subject:
Accountancy -
Author:
june25 -
Created:
1 year ago
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every journal entry requires?
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Subject:
Accountancy -
Author:
maximus92 -
Created:
1 year ago
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44. Which one of the following can be probability ratio? *
(4/3)
O (17/11)
(2/3)
O (-1/2)
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Subject:
Accountancy -
Author:
barnaby -
Created:
1 year ago
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Initial payment made on signing the agreement is Down Payment,Cash price,Hire Purchase price,Interest.
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Subject:
Accountancy -
Author:
deangelo23 -
Created:
1 year ago
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Received cheque from ram journal entry
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Subject:
Accountancy -
Author:
johnny80 -
Created:
1 year ago
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(3) Dock charges, Printing and stationery, Custom duty, Wages and salary.
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Subject:
Accountancy -
Author:
tyrell -
Created:
1 year ago
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state whether it's true or false 1) The destroyed the Cherry tree. 2) The cherry tree had an instinct to survive.
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Subject:
Accountancy -
Author:
cohenjoseph -
Created:
1 year ago
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An account to be debited for goods damaged by fire
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Subject:
Accountancy -
Author:
mohammadzamora -
Created:
1 year ago
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A vessel contains 16 litres of pure spirit. From this vessel 2 litres of spirit is replaced with 2 litre of water. Subsequently, 2 litres of the mixture is again replaced with 2 litres of'water and this process is repeated one more time. How much spirit is now left in the vessel?
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Subject:
Accountancy -
Author:
pretty -
Created:
1 year ago
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• The return on investment may be
improved by
(i) reducing cost;
(ii) increasing sales;
(iii) both of these.
(iv) none
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Subject:
Accountancy -
Author:
ferrer -
Created:
1 year ago
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Purchase ratio is used to allocate OPTIONS a. Income Tax b. Discount Allowed C. Insurance d. Discount Received
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Subject:
Accountancy -
Author:
clay15 -
Created:
1 year ago
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