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  1. Answers
    1
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    554

    It depends... has it been paid in the financial...

    It depends... has it been paid in the financial year of jan 04 to dec 04? If so then you can post it... but it will be noted as a PREPAYMENT.. but I don't see why not.

    99% certain it would be:
    ...
  2. Absorption Vs Marginal - Real Example?

    Hi guys,

    I have an assignment in which I have to assess the reasons the reported profit is different even though sales and production are constant, using both absorption and marginal

    I want to...
  3. Answers
    2
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    6,274

    Hey, just reading your question, try it the other...

    Hey, just reading your question, try it the other way around...

    Do your trial balance first, then income statement and then balance sheet

    Do your journal entries after or just after your trial...
  4. Answers
    1
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    1,982

    I think I read captain forest say, post dated...

    I think I read captain forest say, post dated cheques don't get put into the accounts (no journal entries made) just make a note on the financial statements..

    No entries would be made until...
  5. Answers
    1
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    6,401

    in your income statement both figures should be...

    in your income statement both figures should be shown so say your opening inventories (opening stock) is 15,000

    Income Statement Extract

    sales... 20,000

    - cost...
  6. Answers
    3
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    924

    look at a company that sells cookies like millies...

    look at a company that sells cookies like millies cookies (uk).. go past one of there stalls and see how many staff run it, look at the variety of cookies and what else they sell..

    Hope this...
  7. Thank you CaptainForest, Taken what you have...

    Thank you CaptainForest,

    Taken what you have said into account the difference between marginal and absorption costing :

    Sales = Production = no difference in Profit (Absorption vs Marginal)...
  8. Absorption Costing - Opening stock and closing stock query?

    Hi guys,

    I have an absorption costing query on the profit statement, here are the notes:

    Selling price per unit = £20
    Sales for year 1 = 10,000
    Production = 20,000
    Production Cost Per Unit...
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