# Search:

Type: Posts; User: rehmanvohra

1. ## Question: Managerial accounting

by rehmanvohra
2
Views
767

### Dear ma - this question has been taken from a...

Dear ma - this question has been taken from a very famous text book. This book has been adopted by many universities and colleges in the US. Through group study a student gets to learn better than...
2. ## Question: Variance analyse

by rehmanvohra
2
Views
457

### a. The material total variance Std Qty allowed:...

a. The material total variance
Std Qty allowed: 1200 x 15 x 8 = 144000
Actual cost 147500
Total variance 3500 (Unfavorable)

b. The material price variance
Act qty x std price: 19200 x 8 =...
3. ## Question: Calculate EPS need help Financial Accounting

by rehmanvohra
1
Views
1,695

### 200 ml = 2 million shares x \$100 par value

200 ml = 2 million shares x \$100 par value
4. ## Question: Acid test ratio and capital employed ratio

by rehmanvohra
3
Views
432

### Sorry, capital employed is 660000 and ratio is...

Sorry, capital employed is 660000 and ratio is 17.72%.

.
5. ## Question: Acid test ratio and capital employed ratio

by rehmanvohra
3
Views
432

### Acid test ratio: (Current assets - Closing...

Acid test ratio:
(Current assets - Closing stock)/Current liabilities
144000-55000=89000/34000= 2.62:1

The return on capital employed for 2012 was 11%
Calculate the ratio for 2013?Net profit...
6. ## Question: Managerial accounting

by rehmanvohra
2
Views
621

### Indirect materials are a part of overheads and...

Indirect materials are a part of overheads and the unit cost is always calculated for the overhead costs for the good production achieved.
7. ## Question: Determine relevant cost

by rehmanvohra
3
Views
480

### Relevant costs are those costs that will be...

Relevant costs are those costs that will be incurred if the decision to go on the fishing trips is taken.
8. ## Question: Which of the following is a cash outflow?

by rehmanvohra
7
Views
679

### Thanks. I am pleased to be of help.

Thanks. I am pleased to be of help.
9. ## Question: Which of the following is a cash outflow?

by rehmanvohra
7
Views
679

http://www.accounting4management.com/statement_of_cash_flows.htm
10. ## Question: Which of the following is a cash outflow?

by rehmanvohra
7
Views
679

### Cash outflow means increase in asset or decrease...

Cash outflow means increase in asset or decrease in liabilities. Now study each of the options and decide which of them is an outflow.

a. a new issue of bonds - increases cash
b. a decrease in...
11. ## Question: Accounting help!!

by rehmanvohra
1
Views
648

### Dividend yield: Dividend per share/market value...

Dividend yield:
Dividend per share/market value per share
40000/10000 = \$4 per share/\$56
Yield = 7.14%
12. ## Question: Help with calculating cm per unit

by rehmanvohra
1
Views
662

### Unit sales price 6.95 Variable mfg...

Unit sales price 6.95
Variable mfg costs
DM 26880
DL 6720
VOH 5920
Total 39520
Unit cost 39520/16000= (2.47)
Sales commission 8% = (0.556)
Contribution = 3.924
13. ## Question: Accounting Help

by rehmanvohra
1
Views
375

### December 1: Debit Prepaid advertising \$600...

December 1:
Credit Cash \$600

December 31
14. ## Question: Figuring Net Income

by rehmanvohra
3
Views
418

### Increase in net assets: 13,500 - 12,500 = 1,000...

Increase in net assets: 13,500 - 12,500 = 1,000
Less Stock issuance 1,400
Net Income 1,600
15. ## Question: Accounting

by rehmanvohra
3
Views
1,556

### Ordinary shares receive nothing because Preferred...

Ordinary shares receive nothing because Preferred stock is entitled to 2000 x \$12=\$24,000 x 11%= 2,640. \$1600 will be paid to preferred stockholders
16. ## Question: Manufacturing cost per unit

by rehmanvohra
2
Views
360

a. 9
b. 9
c. 78
d. 64
17. ## Question: Beginning work in process inventory

by rehmanvohra
1
Views
6,412

### VALERICO COMPANY ...

VALERICO COMPANY

STATEMENT OF COST OF GOODS MANUFACTURED
18. ## Question: Treatment for VAT to be remitted on the following year

by rehmanvohra
1
Views
458

### No need for any journal entry since the VAT...

No need for any journal entry since the VAT account will show the credit balance as at the balance sheet date and will be reported as current liability. In January 2014, you will debit VAT account...
19. ## Question: Preparing a Cash flow statement help please

by rehmanvohra
1
Views
581

### Your question is incomplete. Details of balances...

Your question is incomplete. Details of balances of non current assets is missing.
There are other errors which will be disclosed when the question is complete.
20. ## Question: Process Costing Accounting Question

by rehmanvohra
1
Views
1,517

### Schrager Company has two production departments:...

Schrager Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials \$4,390, Work in Process—Cutting \$3,560, work in Process—Assembly \$11,080, and...
21. ## Question: Ending Accounts Receivable

by rehmanvohra
1
Views
487

### The ending balance in receivables will be 33% of...

The ending balance in receivables will be 33% of this month's credit sales:
805109*.33=265686
22. ## Question: Answers to Accounting Questions

by rehmanvohra
5
Views
579

### I am glad was to be of help. Please do not...

I am glad was to be of help. Please do not hesitate to contact me in case you need me.
23. ## Question: Answers to Accounting Questions

by rehmanvohra
5
Views
579

### The date on which the asset is received. The HP...

The date on which the asset is received. The HP contract entitles the entity to the possession of the asset for its use.
24. ## Question: Answers to Accounting Questions

by rehmanvohra
5
Views
579

### Under Hire Purchase financing terms, does this...

Under Hire Purchase financing terms, does this means I have to recognize the item as Fixed Asset? There is no Down payment and Security Deposit required.

CORRECT: Under HP system, like finance...
25. ## Question: Adjusting entry to record depreciation

by rehmanvohra
1
Views
1,361

### FALSE. Reversal entries are meant for prepayments...

FALSE. Reversal entries are meant for prepayments and accruals. Accumulated depreciation is a contra asset account, like allowance for doubtful debts which reflect the book value of these assets.
26. ## Question: Selling price

by rehmanvohra
1
Views
469

### You should sell at premium because you are...

You should sell at premium because you are offering more interest than market rate. The selling price can be determined if the duration is available as well as repayment schedule, if any.
27. ## Question: Simple Bank Reconciliation statement. Question.. HELP!

by rehmanvohra
7
Views
1,217

### I am glad I was of help. Thanks anyway, I was not...

I am glad I was of help. Thanks anyway, I was not offended by your earlier response.
28. ## Question: Par Value

by rehmanvohra
2
Views
400

### It would be helpful if you were to give an...

It would be helpful if you were to give an example.
29. ## Question: Homework help

by rehmanvohra
1
Views
561

### 1. Month end was exactly one quarter of the way...

1.
Month end was exactly one quarter of the way through a pay period. No wages have been paid yet, but on the next pay day the salaries paid will be: 11,900.00

Debit salaries expense and credit...
30. ## Question: Simple Bank Reconciliation statement. Question.. HELP!

by rehmanvohra
7
Views
1,217

### The steps for preparing a bank reconciliation...

The steps for preparing a bank reconciliation statement are:
a. Adjust cash book to reflect items appearing in the bank statement but not in the bank account. - (CB)
31. ## Question: Simple Bank Reconciliation statement. Question.. HELP!

by rehmanvohra
7
Views
1,217

### The adjusted cash book balance is 620 whereas...

The adjusted cash book balance is 620 whereas bank reconciliation shows 590. There is a difference of 30
32. ## Question: How to calculate ROI

by rehmanvohra
1
Views
452

### ROI = Profit/Avg Total Assets

ROI = Profit/Avg Total Assets
33. ## Question: Accounting Homework Problem Need Help ASAP

by rehmanvohra
63
Views
16,357

### Apply the following formula: Beg Inv + Purchases...

Apply the following formula:
Beg Inv + Purchases + Frt In - Returns - Disc- End Inv = COGS
Sales - COGS = GP
34. ## Question: Accounting Homework Problem Need Help ASAP

by rehmanvohra
63
Views
16,357

### Apply the following formula: Beg Inv + Purchases...

Apply the following formula:
Beg Inv + Purchases + Frt In - Returns - Disc- End Inv = COGS
Sales - COGS = GP
35. ## Question: Accounting Homework Problem Need Help ASAP

by rehmanvohra
63
Views
16,357

### Apply the following formula: Beg Inv + Purchases...

Apply the following formula:
Beg Inv + Purchases + Frt In - Returns - Disc- End Inv = COGS
Sales - COGS = GP
36. ## Question: Accounting Homework Problem Need Help ASAP

by rehmanvohra
63
Views
16,357

### COGS : 237 Freight In : 22 Ending Inventory :...

COGS : 237
Freight In : 22
Ending Inventory : 147
Gross Purchases : 300
Sales : 400
Purchase Discounts : ?
Beginning Inventory : 150
Gross Profit : 163
Purchase Returns : 50
37. ## Question: On April 30, Holden Company had an Accounts Receivable balance of \$18,000. During the

by rehmanvohra
2
Views
2,092

### Prepare a T account and post known entries on...

Prepare a T account and post known entries on relevant sides and you will get the answer as 45,000
38. ## Question: Accounting Help for self-study review questions

by rehmanvohra
3
Views
846

### Complex journal entries as givrn in example is...

Complex journal entries as givrn in example is just one type. There can be more accounts affected for one transaction.

For example, consider a case where a non current asset is disposed for cash....
39. ## Question: Accounting

by rehmanvohra
4
Views
735

### Are all general ledger accounts adjusted and...

Are all general ledger accounts adjusted and closed at the end of the accounting cycle?
My answer, no because all temporary accounts are closed. I'm slightly confused on this one.
Correct

Does...
40. ## Question: Accounting Help for self-study review questions

by rehmanvohra
3
Views
846

### There are two types of journal entries complex...

There are two types of journal entries complex and simple?
My answer is no, I believe there are more such as Special.
Complex entries involve more than one account while simple entries have only...
41. ## Question: Accounting

by rehmanvohra
4
Views
735

### Is a business with no cash considered insolvent?...

Is a business with no cash considered insolvent? Yes or No
My answer is no, because the business could have assets that can be turned into cash if needed. CORRECT

42. ## Question: How do I recompute fixed costa using the high-low method

by rehmanvohra
1
Views
416

### High December 4900 26,000 Low July 3500 20,500...

High December 4900 26,000
Low July 3500 20,500
Difference 1400 5500
Variable rate 3.92856 per meal

Total costs 26000
Less variable 4900 x 3.92856 = 19250
Fixed costs 6750

BEP can not be...
43. ## Question: Average profit for calculating goodwill

by rehmanvohra
1
Views
317

### Deduct extra ordinary items such as non recurring...

Deduct extra ordinary items such as non recurring transactions, e.g. fire claim
44. ## Question: Acc/291 P9-5A

by rehmanvohra
3
Views
1,957

### Can you at least post the attempt you made so...

Can you at least post the attempt you made so far? It will help us to identify the mistake area and it will be easier for you to understand.
45. ## Question: Cost of finished goods inventory

by rehmanvohra
2
Views
2,951

### Per Unit Variable Cost Fixed Cost Direct...

Per Unit Variable Cost Fixed Cost
Direct materials \$4.50 \$ —
Direct labor 6.5 —
Production and sales totaled 20,000 rolls and 17,000 rolls, respectively There is no work...
46. ## Question: Net trade price

by rehmanvohra
1
Views
774

### What is the net price of the net price...

What is the net price of the net price \$141,771.00 with a 29% trade discount?
Do you mean list price \$141,771? Or you wish to find the list price of the net price 141,771?
If 141,771 is the list...
47. ## Question: Accounting Homework Problem Need Help ASAP

by rehmanvohra
63
Views
16,357

### Merchandise inventory, 7/1/12 32,000 Purchases...

Merchandise inventory, 7/1/12 32,000
Purchases 240,000
Purchase discounts (6,000)
Purchase returns (10,000)
Freight-in 17,000
Inventory balance (40,000).
Cost of goods sold 233,000
48. ## Question: Trial Balance

by rehmanvohra
4
Views
472

### It appears that you are omitting net profit...

It appears that you are omitting net profit £5200, which must be included in the trial balance.
49. ## Question: Retail Inventory

by rehmanvohra
1
Views
2,690

The only new point in this post is normal and abnormal spoilage.
Here is the treatment:
Normal spoilage should be deducted from the retail column after...
50. ## Question: Retail Method

by rehmanvohra