The Trial balance for Jasmine Ltd for the year ended 30.9.18 is below:
|
Debit (£) |
Credit (£) |
|
|
Vehicles |
58,250 |
|
|
Tax paid for the year |
10,000 |
|
|
Sundry expenses |
1,360 |
|
|
Sales |
600,000 |
|
|
Salaries |
82,500 |
|
|
Reserves |
456,600 |
|
|
Rates |
16,250 |
|
|
Purchases |
110,000 |
|
|
Prepayments |
1,300 |
|
|
Plant & Machinery |
160,000 |
|
|
Land |
800,000 |
|
|
Inventory at 30.9.17 |
15,000 |
|
|
Interest paid |
6,000 |
|
|
Utilities |
22,000 |
|
|
Delivery costs |
3,640 |
|
|
Cash |
19,650 |
|
|
Capital |
850,000 |
|
|
Buildings |
750,000 |
|
|
Bank overdraft |
30,000 |
|
|
Administration costs |
14,300 |
|
|
Accumulated depreciation on vehicles at 30.9.17 |
11,650 |
|
|
Accumulated depreciation on plant & machinery at 30.9.17 |
16,000 |
|
|
Accumulated depreciation on buildings at 30.9.17 |
136,000 |
|
|
Accounts receivable |
250,000 |
|
|
Accounts payable |
120,000 |
|
|
8% Long-term loan |
100,000 |
|
|
2,320,250 |
2,320,250 |
The following supplementary information is available which has not been subjected to double entry
Required: Produce an Income Statement and a Statement of Financial Position for Jasmine Ltd for the yer ended 30.9.18
In: Accounting
In the fourth quarter of last year, Colditz Company embarked on a major effort to improve productivity. It redesigned products, reengineered manufacturing processes, and offered productivity improvement courses. The effort was completed in the last quarter of the current year. The controller’s office has gathered the following year-end data to assess the results of this effort:
| Current Year |
Prior Year |
||||||
| Units manufactured and sold | 27,000 | 22,500 | |||||
| Selling price of the product | $ | 52 | $ | 52 | |||
| Direct materials used (pounds) | 15,200 | 14,200 | |||||
| Cost per pound of materials | $ | 10 | $ | 8 | |||
| Direct labor hours | 6,450 | 7,200 | |||||
| Hourly wage rate | $ | 25 | $ | 20 | |||
| Power (kwh) | 1,500 | 750 | |||||
| Cost of power per kwh | $ | 3 | $ | 3 | |||
Required
1. Prepare a summary contribution income statement for each of the 2 years, and calculate the change in operating income.
2. Compute the partial operational productivity ratios for each production factor in each year.
3. Compute the partial financial productivity ratios for each production factor in each year.
In: Accounting
The following information is available for Henderson Components for the year just ended.
| Sales price | $ | 55 | |
| Fixed costs (for the year) | |||
| Selling and administrative | 451,200 | ||
| Production | 676,800 | ||
| Variable cost (per unit) | |||
| Materials | 14 | ||
| Labor | 10 | ||
| Plant supervision | 7 | ||
| Selling and administrative | 11 | ||
| Number of units (for the quarter) | 225,600 | units | |
Required:
Select the answer for each of the following costs.
a. Variable cost per unit.
b. Variable production cost per unit.
c. Full cost per unit.
d. Full absorption cost per unit.
e. Prime cost per unit.
f. Conversion cost per unit.
g. Contribution margin per unit.
h. Gross margin per unit.
In: Accounting
Briefly describe a merger or acquisition that has been in the news within the past year and provide a link to the information. What is the economic justification for the merger? Does the merger or acquisition substantially reduce competition? Will the industry tend to remain competitive after the merger, or will it tend to become more concentrated (as with an oligopoly or monopoly)? Will consumers benefit from the merger or acquisition?
In: Economics
The year is 2040, and you are part ofan intergalactic research team. In the On-Line galaxy, on the planet Virtual, you discover ureotelic organisms that have biochemistry analogous to terrestrial organisms (aka us!). You have isolated the following compound that appears to be an intermediate in their urea cycle. Based on this compound, and the excellent (ahem!) biochemical education you received in CHM 3280, predict the rest of the Virtualian Urea Cycle. Provide structures and enzyme names, cofactors etc.
In: Biology
The Dorset Corporation produces and sells a single product. The following data refer to the year just completed:
| Beginning inventory | 0 | |
| Units produced | 34,500 | |
| Units sold | 26,800 | |
| Selling price per unit | $ | 490 |
| Selling and administrative expenses: | ||
| Variable per unit | $ | 16 |
| Fixed per year | $ | 616,400 |
| Manufacturing costs: | ||
| Direct materials cost per unit | $ | 254 |
| Direct labor cost per unit | $ | 55 |
| Variable manufacturing overhead cost per unit | $ | 33 |
| Fixed manufacturing overhead per year | $ | 552,000 |
Assume that direct labor is a variable cost.
Required:
a. Compute the unit product cost under both the absorption costing and variable costing approaches.
b. Prepare an income statement for the year using absorption costing.
c. Prepare an income statement for the year using variable costing.
d. Reconcile the absorption costing and variable costing net operating income figures in (b) and (c) above.
In: Accounting
How many times longer than the length of one year is the age of the Earth?
In: Physics
A 65-year-old male was admitted for evaluation of pain on swallowing and a sore throat that has persisted for the past year. The discomfort has not changed with the use of various over the counter cold remedies. The client has lost weight due to a decrease in appetite and difficulty swallowing. He has smoked 3 packs of cigarettes a day for 40 years.
A laryngoscopy showed a subglottic mass. The client had a total laryngectomy with tracheostomy to manage laryngeal cancer. He also has a nasogastric tube in place.
You will be providing care for this client during his first 72 hours after surgery.
Initial Discussion Post:
There are multiple nursing diagnoses that are applicable to this client during the time when you will be providing care.
Select one NANDA-I nursing diagnosis and describe why
it is a priority for this client.
What is the cause or related factor for this NANDA-I nursing
diagnosis?
Identify an outcome for this NANDA-I nursing diagnosis. The outcome
must be patient centered and measurable.
Identify two (2) nursing interventions that will help this client
achieve the outcome.
Describe how each intervention will help the patient achieve the
outcome..
In: Nursing
Percent of Sales Method
At the end of the current year, Accounts Receivable has a balance of $840,000; Allowance for Doubtful Accounts has a credit balance of $7,500; and sales for the year total $3,780,000. Bad debt expense is estimated at 3/4 of 1% of sales.
a. Determine the amount of the adjusting entry
for uncollectible accounts.
$
b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense.
| Adjusted Balance Debit (Credit) |
|
| Accounts Receivable | $ |
| Allowance for Doubtful Accounts | $ |
| Bad Debt Expense | $ |
c. Determine the net realizable value of
accounts receivable.
$
In: Accounting
In: Finance