Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

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

Adjustments:

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

Business simulation tasksassessed task 1 financial

Business Simulation Tasks Assessed Task 1: Financial Analysis The Board of directors has asked you to perform a review of the financial performance and financial position of the business based on the company's 2032 finan ...

Assignmentrecording general fund operating budget and

Assignment Recording General Fund Operating Budget and Operating Transactions. The Town of Bedford Falls approved a General Fund operating budget for the fiscal year ending June 30, 2017. The budget provides for estimate ...

Accounting for contributions vary by usethe city of

Accounting for Contributions Vary by Use The City of Jamestown has agreed to acquire a new city maintenance building under a capital lease agreement. At the inception of the lease, a payment of $100,000 is to be made; ni ...

1 morris minor corporation manufactures two products each

1. Morris Minor Corporation manufactures two products each of which require machine processing and labor operations. There is extensive demand for both products, but Morris Minor could devote all of its capacity to manuf ...

Time value of money practical applications in business and

Time Value of Money, Practical Applications in Business and Personal Decisions If you have put money in a savings account, made monthly auto or mortgage payments, or paid down your student loan ahead of time you have inh ...

There are four main methods for documenting specific

There are four main methods for documenting specific business processes, systems, and so on. If your company asked you to document the workflow in your department, where would you start and why? How would that change if ...

1 what are the responsibilities of the risk manager in

1. What are the responsibilities of the risk manager in workers' compensation? 2. What role does employee safety play in risk management? 3. How does discrimiantion in the workplace impact managers / supervisors? 4. What ...

Cindy and glenn are married taxpayers who file a joint

Cindy and Glenn are married taxpayers who file a joint return. Both Cindy and Glenn work. During 2014, they had three young children for whom they paid $10,000 of qualifying child care expenses. What is the maximum and m ...

Problem 1on january 1 2010 branson designers issued 900

Problem 1 On January 1, 2010, Branson Designers issued $900 Million of its 8% bonds $836 million. The bonds were then prices to yield 10%. The interest will be payable on June 30 and December 31. Branson records interest ...

Assignment excel spreadsheet projecton december 31 2016

Assignment: Excel Spreadsheet Project On December 31, 2016, Carson Company rendered services to Lincoln Corporation at an agreed price of $125,939, accepting $50,000 down and agreeing to accept the balance in three equal ...

  • 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