A company incurs gas costs for heating of £12,000 per year, although three-quarters of the annual cost is incurred between January and June. Bills are received quarterly at the end of March, June, September & December and paid two weeks later. What is the accrual at the end of June and where does this appear in the financial statements?
Answer to relevant QuestionsA company has bought a new computer system for cash at the beginning of its financial year at a cost of £30,000. It is expected to last 4 years with no value at the end of that period. What is the impact on the Income ...Calculate the following ratios: • Return on investment (ROI) • Return on capital employed (ROCE) • Operating margin • Gross margin • Sales growth • Working capital to sales • Gearing • Asset turnover Opening stock is £350,000. Closing stock is £325,000. Purchases are £650,000. Sales are £1,000,000. The cost of sales is: d) £675,000 Terrier Financial Services has fixed costs of £12,500,000. Shareholders expect a profit return before interest and taxes of £5,000,000. Terrier achieves an average margin of 1.5% on the volume of client money handled. What ...The level of sales (in units) that will maximize profits is: c) 30,000
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