Questions
Q3. Create a Company trading computer accessories with your Student ID & Name, address, College Email...

Q3. Create a Company trading computer accessories with your Student ID & Name, address, College Email ID and phone number for the year ended 31st Mar, 2020, and enter the following transactions using appropriate vouchers in Tally ERP 9 software: (3 Marks + 7 Marks)
1st Jan 2020, Started his business with an investment of RO 45,000 in cash.
2nd Jan 2020, Purchases computer accessories of RO 20,000 on credit from Mr. Salim.
31st Jan 2020, Sold computer accessories worth RO 15,000 for cash.
1st Feb 2020, Sold goods on credit to Mr. Abdullah worth RO 20,000.
2nd Feb 2020, Mr. Abdullah returned defective goods worth RO 5,000.
1st Mar 2020, Returned defective goods to Mr. Salim worth RO 3,500.
2nd Mar 2020, Received cheque from Mr. Abdullah for RO 15,000.
(answer by use tally.ERP9 program)

In: Accounting

Identify a person you know who has an immune system disorder or cancer. Review content in...

Identify a person you know who has an immune system disorder or cancer. Review content in your text for potential types of disorders.

Interview the affected person and write a 3-5 page paper identifying your findings including:

  • Identify the pathophysiology of the immune system disorder
  • Discuss the treatment for the immune system disorder
  • Summarize the findings of the interview.
  • Use 2-3 evidence-based articles from peer-reviewed journals or scholarly sources to support your findings or identify therapies that may be new or different from what the affected person may be using.
  • I need 3 pages. please.

In: Nursing

• Given the requirements contained in the Act for CEO and CFOs to certify the adequacy...

• Given the requirements contained in the Act for CEO and CFOs to certify the adequacy of controls and financial statement accuracy, evaluate your comfort level with this requirement should you become a CFO of a publically traded company. Provide support for your rationale. • Given the requirements contained in the Act for CEO and CFOs to certify the adequacy of controls and financial statement accuracy, evaluate your comfort level with this requirement should you become a CFO of a publically traded company. Provide support for your rationale.

In: Accounting

Ink Spill, a printing company, provides printing services to its customers. Customers normally pay for printing...

Ink Spill, a printing company, provides printing services to its customers. Customers normally pay for printing services in advance. In October 2020, Ink Spill received $20,000 from customers for services to be provided in November 2020. A senior accountant at Ink Spill wants to record the full amount as a liability in the company’s Balance Sheet at the end of October 2020.

Required:

Should the $20,000 be recorded as a liability in the company’s Balance Sheet at the end of October 2020? Explain, using the definition and recognition criteria of a liability in your explanation.

In: Accounting

TO Industries prepares monthly cash budgets. The following budget information is available for April and May...

TO Industries prepares monthly cash budgets. The following budget information is available for April and May 2020:

April

May

Sales

$650,000

$700,000

Direct material purchases

220,000

240,000

Direct labor

175,000

180,000

Manufacturing overhead

120,000

130,000

Selling and administrative expenses

150,000

150,000

All sales are credit sales. The company expects to collect 65% from customers in the month of the sale and the remaining 35% in first month following the sale. The company purchases direct materials on account. The company pays for 70% of the purchases in the month of the purchases and the remaining 30% in the first month following the purchase. Direct labor, manufacturing overhead, and selling and administrative expenses are paid in cash in the month incurred.

Additional information:

  • March 2020 credit sales were $600,000
  • March 2020 purchases of direct materials were $200,000
  • The company’s cash balance on April 1, 2020 is expected to be $90,000
  • The company wants to maintain a minimum cash balance of $80,000 and has a line of credit in the amount of 1,000,000, with an annual interest rate of 6%, available to borrow if the budgeted cash balance falls below that level. Any amounts borrowed on the line of credit at the end of a month require a cash interest payment in the subsequent month. If the ending cash balance in a month exceeds the minimum balance, the excess amount is used to repay any amounts borrowed on the line of credit.

Required

  1. Prepare a schedule of cash collections from credit sales for April and May 2020.
  2. Prepare a schedule of cash disbursements for direct material purchases for April and May 2020.
  3. Prepare a cash budget for April and May 2020 in columnar format.

In: Accounting

Many Projects are running in the company. The CEO of company wants to know about the...

Many Projects are running in the company. The CEO of company wants to know about the details of his current projects. Write a SQL query that retrieves each project record.

In: Computer Science

The company quickly acquired $41,000 in inventory, 30% of which was acquired on open accounts that...

The company quickly acquired $41,000 in inventory, 30% of which was acquired on open accounts that were payable after 30 days. The rest was paid for in cash.

Account:      Cash  Accounts Receivable Inventory  Prepaid Rent Fixtures and Equipment  Accounts Payable  Interest Payable Wages Payable  Notes Payable Paid-in Capital  Retained Earnings Leave Blank           Dollar amount:   

Account:      Cash  Accounts Receivable Inventory  Prepaid Rent Fixtures and Equipment  Accounts Payable  Interest Payable Wages Payable  Notes Payable Paid-in Capital  Retained Earnings Leave Blank           Dollar amount:   

Account:      Cash  Accounts Receivable Inventory  Prepaid Rent Fixtures and Equipment  Accounts Payable  Interest Payable Wages Payable  Notes Payable Paid-in Capital  Retained Earnings Leave Blank           Dollar amount:   

Account:      Cash  Accounts Receivable Inventory  Prepaid Rent Fixtures and Equipment  Accounts Payable  Interest Payable Wages Payable  Notes Payable Paid-in Capital  Retained Earnings Leave Blank           Dollar amount:   

Account:      Cash  Accounts Receivable Inventory  Prepaid Rent Fixtures and Equipment  Accounts Payable  Interest Payable Wages Payable  Notes Payable Paid-in Capital  Retained Earnings Leave Blank           Dollar amount:   

In: Accounting

Answers provided. Please explain the calculations This is the entire question that was given. It is...

Answers provided. Please explain the calculations

This is the entire question that was given. It is not missing information.

Weisman Company, a 100% owned subsidiary of Martindale Corporation, sells inventory to Martindale at a 20% profit on selling price. The following data are available pertaining to inter-company purchases by Martindale:

Inter-company sales

Unsold at year end

(based on selling price)

2020:

$18,000

2020:

$4,000

2021:

$19,400

2021:

$6,000

2022:

$21,500

2022:

$8,000

Weisman’s profit numbers were $125,000, $142,000 and $265,000 for 2020, 2021, and 2022, respectively. Martindale received dividends from Weisman of $25,000 for 2020 and 2021, and $30,000 for 2022.

29.      What would be the net debit or credit to cost of goods sold on the 2021 consolidation worksheet? Answer = $19,000 credit

30.       Assume Weisman uses the equity method to account for its investment in Martindale. What would be the debit to retained earnings regarding the 2020 consolidation entry related to the unrealized inventory profit? Answer = $-0-

In: Accounting

SWOT Analysis on taking the CPA SWOT Analysis on getting an MBA

SWOT Analysis on taking the CPA SWOT Analysis on getting an MBA

In: Accounting

You currently make $100,000 a year and expect your salary increase by 10% a year for...

You currently make $100,000 a year and expect your salary increase by 10% a year for 20 years.   You are considering an MBA which will cost you $120,000 for the entire education. If you take the MBA, you will have to pay the full tuition today (all upfront) and you will make zero earnings at the end of years 1 and 2. However, after graduation you’ll have an opportunity to join an investment bank, which promises $130,000 a year, which will grow by 15% for 18 years after graduation. Is the MBA a good deal? Assume a constant discount rate of 15%. What if rates fall to 10%? What if rates rise to 17%, how does your answer change? Show your detailed spreadsheet calculations using Excel.

In: Finance