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Viewed Questions

Analyse the potential effects of recent developments in the business or public sector environments on the relevance of management accounting systems.

Management Accounting: Principles and Applications

Critically analyse the possible effects of e-commerce on the role of the management accountant.

Management Accounting: Principles and Applications

How do solids, liquids, and gases differ?

How do solids, liquids, and gases differ?

Chemistry: Structure and Properties

A and B are events defined on a sample space, with $P(\mathrm{B})=0.5$ and $P(\mathrm{A} \text { and } \mathrm{B})=0.4 .$ Find $P(\mathrm{A} | \mathrm{B})$

A and B are events defined on a sample space, with $P(\mathrm{B})=0.5$ and $P(\mathrm{A} \text { and } \mathrm{B})=0.4 .$ Find $P(\mathrm{A} | \mathrm{B})$

Elementary Statistics

Probability

Rules of Probability

Questions asked

INSTANT ANSWER

On 1/1/2020 a company had 400 units at a cost of $40. On 1/4/2020 the company purchased 400 units at a cost of $50. On 15/5/2020 the company sold 450 units. if the company uses perpetual system and moving average method, then the cost of goods sold on 15/5/2020 would be: a. $16,250 b. $20,250 c. $14,400 d. $22,000

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INSTANT ANSWER

On 1/1/2020 a company had 400 units at a cost of 540. On 1/4/2020 the company purchased 400 units at a cost of 550. On 15/5/2020 the company sold 450 units. if the company uses perpetual system and moving average method, then the cost of goods sold on 15/5/2020 would be:

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INSTANT ANSWER

Presto Company purchased equipment and these costs were incurred. Cash price $27,500. Sales taxes $1,800. Annual vehicle license $820, Installation and testing $200. Insurance during transit S600, Presto will record the acquisition cost of the equipment as:

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INSTANT ANSWER

On January 1,2022 a company had Account receivable of $140,000 and Allowance for doubtful accounts (credit) $40,000. During 2022, $20,000 of Account receivable were written off. later during 2022 the company collected $5,000 of Accounts receivable that had been written off as uncollectibles. The cash realizable value at December 31,2022 would be:

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INSTANT ANSWER

On 1.May.2024, ABC company established a petty cash fund with a value of $3,000. At the end of May the fund had $400 cash and the following receipts; entertainment expense $1,000, Postage expense $700, advertising expense $880. On june 1, the company decided to increase the size of the fund by $500. The journal entry that ABC should record on the ist of June is:

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ANSWERED

Donna Densmore verified

Numerade educator

On April 1, 2021 a company sold an equipment for $15,000. This equipment was purchased on January 1,2016 at a cost of $42,000, a zero residual value and a 7 years useful life. Accumulated depreciation-equipment until January 1,2021 is $30,000. (Straight line method is used for depreciation) Prepare the entry for sale of equipment on April, 1,2021.

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INSTANT ANSWER

On June 30,2020 Hess company exchanged old delivery equipment and $22,000 for new delivery equipment. The old equipment was purchased on January 1,2019 for $64,000 and was estimated to have $8,000 residual value at the end of its 5 year life. It is estimated that the fair value of the old delivery equipment at the date of exchange is 37,000. Prepare the entry to be recorded by Hess company for exchange on June 30,2020 (Hess company uses straight line method)

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ANSWERED

Donna Densmore verified

Numerade educator

Direct write off method reports Account receivable at its gross amount. •a. True • b. False

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INSTANT ANSWER

On 1/1/2018, Equipment had a balance of $70,000 and accumulated depreciation-equipment $14,000 (Equipments have a useful life of 5 years and no residual value). On 1/10/2018, the company sold an equipment (purchased on January 1,2017 at a cost of $20,000 and 5 years useful life with no residual value) for $14,000. If you knew that the company uses straight line method & prepare annual financial statements, Thus the book value for equipment to be reported at statement of financial position dated 31/12/2018 would be: •a. $23,000 • b. $50,000 • c.$30,000 • d. $33,000

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INSTANT ANSWER

On 1/1/2018, Equipment had a balance of $70,000 and accumulated depreciation-equipment $14,000 (Equipments have a useful life of 5 years and no residual value). On 1/10/2018, the company sold an equipment (purchased on January 1,2017 at a cost of $20,000 and 5 years useful life with no residual value) for $14,000. If you knew that the company uses straight line method & prepare annual financial statements, Thus the book value for equipment to be reported at statement of financial position dated 31/12/2018 would be:

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