Ask Question, Ask an Expert


Ask Financial Accounting Expert

problem 1: An analysis of the Sultan Manufacturing Co. Ltd. led to the given information:

739_analysis of a company.jpg

Budgeted sales are Rs. 18,50,000. You are needed to find out:

a) Break-even sales volume.

b) Profit at the budgeted sales volume.

c) Profit if actual sales:

• Drop by 10%
• Rise by 5% from budgeted sales.

problem 2: General manufacturers had a debit of balance of Rs. 8,00,000 in their machinery account on 1.1.1992. The concern was charging depreciation at 15% p.a. on diminishing balance. On 31.3.1992, a part of the machinery purchased on 1.1.1989 at a cost of Rs. 70,000 was sold for Rs. 45,000. New machinery was purchased for Rs. 80,000 on 1.7.1992 and Rs. 6,700 was spent for installation. On 31.12.1992 the concern decided to change the depreciation method from diminishing balance method to straight-line method. This was as well decided to charge depreciation at 10% p.a. under the new method. Make machinery account for the year 1992.

problem 3: Describe the accounting standards followed in India.

problem 4: describe various kinds of books maintained in the hospitals.

problem 5: From the given Trial Balance make Trading and Profit and Loss Account and Balance Sheet as on 31.12.1992 :

236_trial balance.jpg


a) Salary Rs. 50 and taxes 200 are outstanding but insurance Rs. 25 prepaid.

b) Commission amounting to Rs. 50 has been received in advance for work to be done next year.

c) Interest accrued on investments Rs. 105.

d) Bad debts reserve is to be maintained at Rs. 500.

e) Depreciation on furniture is to be charged at 10%.

f) Stock on 31st December, 1992 was valued at Rs. 2,250.

g) A fire occurred on 25th December, 1992, in the godown and stock of the value of Rs. 500 was destroyed. It was completely insured and insurance company admitted the claim in complete.

Financial Accounting, Accounting

  • Category:- Financial Accounting
  • Reference No.:- M94928

Have any Question? 

Related Questions in Financial Accounting

Question 1the buck store is considering a project that will

Question 1 The Buck Store is considering a project that will require additional inventory of $216,000 and will increase accounts payable by $181,000. Accounts receivable are currently $525,000 and are expected to increas ...

Assignmentfreds electrical inc sells electrical parts to

Assignment Fred's Electrical, Inc. sells electrical parts to electrical contractors in the northwestern United States. Fred's customers mail their payments - attached to the stub (i.e., remittance advice [RA]) from their ...

Mastering inventory1 baco opens its business in 20x2 and

MASTERING INVENTORY 1. BaCo opens its business in 20X2 and purchases merchandise on account for $88,000. In 20X2, BaCo pays $67,000 cash on the $88,000 due, sales are $145,000, and ending inventory is $24,000. BaCo's gro ...

Assignment non florida fte case problemin the state of xxx

Assignment: Non Florida FTE Case Problem In the State of XXX, funding of public education is handled through a Foundation program. The state funds a student at a weighted FTE value of $3,150. Based on a local school dist ...

Outdoor furniture company has inventory balances at the end

Outdoor Furniture Company has inventory balances at the end of August as follows: Materials inventory $21,360 Work-in-Process inventory 15,112 Finished goods inventory 17,120 Job order cost cards for jobs in process at t ...

Assignmentglorious garden lawn service1 prepare the entries

Assignment Glorious Garden Lawn Service 1. Prepare the entries using the list of transactions. Put them in the general journal. 2. Post the journal entries from the general journal to the general ledger. 3. Prepare a tri ...

Case second department-weighted-average methoddurall

CASE: Second Department-Weighted-Average Method Durall Company manufactures a plastic gasket that is used in automobile engines. The gaskets go through three processing departments: Mixing, Forming, and Stamping. The com ...

Assessmentbullfor this assessment complete the problem

Assessment • For this assessment, complete the problem below. You may use Word or Excel to complete the assessments throughout this course, but you will find Excel to be most helpful for creating spreadsheets. Tutorials ...

Accounting assignment- case study-qual support

Accounting Assignment- Case Study-Qual Support Corporation Plant Closing Case Study 1. QualSupport Corporation manufactures seats for automobiles, vans, trucks, and various recreational vehicles. The company has a number ...

Iexercises1 an extract from the trial balance of armstrong

I. Exercises 1. An extract from the trial balance of Armstrong Corp. at June 30, 2016 is reproduced below:   Account Amount in unadjusted trial balance Amount in adjusted trial balance 1 Prepaid insurance $1,200 $  800 2 ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen