Shown below is an extract of the year-end Trial Balance as at 30 June 2012. Sales are

Question:

Shown below is an extract of the year-end Trial Balance as at 30 June 2012. Sales are always made at cost plus 25%. The cost of inventory as at 30.6.2012 is found to be £54,000. What is the cost of inventory missing?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

See More Books

Question Posted: Aug 28, 2023 08:22 AM

See More Questions

An extract of the year end trial balance is shown on the right. A new machine had been acquired for 180,000 on 1st September 2010. Machinery is depreciated at 10% of cost with proportionate...
Richard, a newsagent, reported as at 30 June 2011 Trade receivable as 79,400 and the balance at bank as 59,400. Daily takings are banked intact and all payments made by cheque. The total of all...
describe How do mineral salts participate in osmotic regulation?
A fast-food chain randomly attaches coupons for prizes to the packages used to serve french fries. Most of the coupons say Play again, but a few are winners. Seventy-five percent of the coupons pay...
Why might the study of time management be fundamental to a project manager?
a. Construct a personal income statement for the Humperdinck family using the following information: salaries, $42,000; mortgage payment, $7,980; food, $2,400; interest income, $150; transportation,...
A large solar panel device manufacturing company based in the United States has noticed a sharp decline in its domestic sales. Upon investigation, it discovered that customers have been switching to...
Viejol Corporation has collected the following information after its first year of sales. Sales were $1,600,000 on 100,000 units, selling expenses $250,000 (40% variable and 60% fixed), direct...
5 Which one of the following correctly represents Sodium oxide? +2 XX a) Na 20 XX 6) 2NaOx x; 1-2 'xx' 1-2 c) 2 Na 20% c) Na XX XX 6 An element with atomic number_ will form a basic oxide. a) 7 (2,5)...
Which of the following statement(s) are correct with regard to preparation of Statements of cash flows? (a) A Statement of cash flows is less objective than a Statement of income (b) A Statement of...
Statements of financial position reported non-current assets as shown below. A new asset had been acquired for 120,000 and depreciation of 38,000 written off. An asset was disposed of for 10,000....
How are business cycles transmitted from one country to another? Explain.
Calculate the ground state energy of a hydrogen atom using a trial function of the form ear. Is the result the same as the real ground state energy? If so, why? Use the Variational Method.
Novak Foundries is replacing the pipes in its cupola operations. The pipes will be a quality improvement over the old system of piping.The old pipe system cost $ 1 6 4 1 0 0 0 and has accumulated...
(a) Alice use RSA to send the following message to Bob. 227163 233312 203044 475734 64606 233312 35590 61185 370574 64606 368892 64606 233312 448777. During encryption, Alice the key kipub = (n. e) =...
Variance Analysis and Standard Costing - Vulcan Rubber SealsVulcan Company produces rubber seals used in the aerospace industry. Standards call for 3 . 5 pounds of material @ $ 3 . 4 0 per pound for...
The Assignment A for this Workshop is to perform an analysis which, given a Treasury yield curve, computes the corresponding spot rates. You will be working with daily yield data for 2021. In all...
Branson Belts makes hand-crafted belts. The company budgets production of 4,500 belts during the second quarter. Each belt requires 4 direct labor hours, at a cost of $12 per hour. Prepare a direct...
Consider the sections of two circuits illustrated above. Select True or False for all statements.After connecting a and b to a battery, the voltage across R1 always equals the voltage across R2.Rcd...
Explain how NAICS codes might be helpful in evaluating and understanding business ma r kets. Give an example.
Considering the nature of retail buying, outline the basic ingredients of promotion to retail buyers. Does it make any difference what kinds of products are involved? Are any other factors relevant?
The government market is obviously an extremely large one, yet it is often slighted or even ignored by many firms. Red tape is certainly one reason, but there are others. Discuss the situ a tion and...
MATLAB homework! Please show the code used Problem 9: Use a for loop to plot the difference from 0 to 200. Locate how many terms it takes to get a difference of 0.005. Font is Times and Size is 16....
Consider the following IVP with impulsive forcing: - Sy (4) +5y" + 4y = 8(t /4)+ 8(t /2), | y(0) = y'(0) = y (0) = y''' (0) = 0. Find the value of the solution y(t) at time t = 3/4. Hint: The Laplace...
Advanced level school Python programming. Need helps. thanks in advance. A school uses a Database Management System (DBMS) application to keep track of the students, their Civics Classes and the...

Shown below is an extract of the year-end Trial Balance as at 30 June 2012. Sales are

Question:

Inventory as at 30.6.2011 Sales Purchases £78,000 - £398,000 £490,000 -

Step by Step Answer:

Financial Accounting An Introduction

Students also viewed these Business questions