Analysis and Record the following transactions. a) Consider that a provision for depreciation of 200,000fcfa was...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Analysis and Record the following transactions. a) Consider that a provision for depreciation of 200,000fcfa was recorded in 2019 on the trademarks of accounting and 150,000fcfa on the bare ground of the company S.A POJET. At the end of the 2020 financial year, a written back provision of 50,000 f is recorded on the Trademarks as well as the complete cancellation of the depreciation recorded on the bare ground. b) SA POJET has in its portfolio 500 shares broken down as follows: SGBC shares: 150, purchase price: 10000 F / share SCB shares: 200, purchase price: 15000 F / share UCB shares; 150, purchase price: 20000F / share At the end of the financial year ending 31/12/2020, the stock prices of these shares are respectively 18,000F, 13500F and 21000F. c) Consider that the company SA POJET plans to repair the roof of the company in three years, estimate amount: 24,000,000 FCFA. At the beginning of the fourth year, the following assumptions are considered: the repair did not take place The repair took place, the amount of the invoice is equal to that of the estimate. the repair took place, the amount of the invoice is higher than that of the estimate amount : 25 500 000 FCFA the repair took place, the amount of the invoice is lower than that of the estimate amount: 19 000 000FCFA d) In 2017, SA POJET made a provision of 30,000,000 FCFA following a dispute with a BEEP Consulting company. In 2018, the evolution of this litigation in court is such that the lawyer of SA POJET believes that the company must lose the lawsuit. As a result, the company is adjusting the provision upwards to 35,000,000 francs. In May 2019, the verdict falls and his POJET must pay a charge of 28 500 000FCFA. e) during the year-end work of SA POJET at 31/12/2019, the following file, relating to the depreciation of stock accounts, is presented: Goods A: 3,000,000fcfa, selling price on the market: 3,500,000fcfa, profit margin and distribution charge 15% and 10% respectively. Goods B: 5,800,000FCFA, Retail Sales Price: 4,000,000FCFA, Margin 25% and Distribution Charge 10%. Goods C 2,000,000 FCFA, sale price on the market: 3,500,000 FCFA, 18% discount. Goods D: 1st batch: 6,000,000FCFA, selling price on the market: 8,000,000FCFA (same condition as Goods A). 2nd batch 2,500,000, deteriorated and cannot be sold. Containers: 2,250,000FCFA, sale price on the market: 1,500,000FCFA. Analysis and Record the following transactions. a) Consider that a provision for depreciation of 200,000fcfa was recorded in 2019 on the trademarks of accounting and 150,000fcfa on the bare ground of the company S.A POJET. At the end of the 2020 financial year, a written back provision of 50,000 f is recorded on the Trademarks as well as the complete cancellation of the depreciation recorded on the bare ground. b) SA POJET has in its portfolio 500 shares broken down as follows: SGBC shares: 150, purchase price: 10000 F / share SCB shares: 200, purchase price: 15000 F / share UCB shares; 150, purchase price: 20000F / share At the end of the financial year ending 31/12/2020, the stock prices of these shares are respectively 18,000F, 13500F and 21000F. c) Consider that the company SA POJET plans to repair the roof of the company in three years, estimate amount: 24,000,000 FCFA. At the beginning of the fourth year, the following assumptions are considered: the repair did not take place The repair took place, the amount of the invoice is equal to that of the estimate. the repair took place, the amount of the invoice is higher than that of the estimate amount : 25 500 000 FCFA the repair took place, the amount of the invoice is lower than that of the estimate amount: 19 000 000FCFA d) In 2017, SA POJET made a provision of 30,000,000 FCFA following a dispute with a BEEP Consulting company. In 2018, the evolution of this litigation in court is such that the lawyer of SA POJET believes that the company must lose the lawsuit. As a result, the company is adjusting the provision upwards to 35,000,000 francs. In May 2019, the verdict falls and his POJET must pay a charge of 28 500 000FCFA. e) during the year-end work of SA POJET at 31/12/2019, the following file, relating to the depreciation of stock accounts, is presented: Goods A: 3,000,000fcfa, selling price on the market: 3,500,000fcfa, profit margin and distribution charge 15% and 10% respectively. Goods B: 5,800,000FCFA, Retail Sales Price: 4,000,000FCFA, Margin 25% and Distribution Charge 10%. Goods C 2,000,000 FCFA, sale price on the market: 3,500,000 FCFA, 18% discount. Goods D: 1st batch: 6,000,000FCFA, selling price on the market: 8,000,000FCFA (same condition as Goods A). 2nd batch 2,500,000, deteriorated and cannot be sold. Containers: 2,250,000FCFA, sale price on the market: 1,500,000FCFA.
Expert Answer:
Answer rating: 100% (QA)
a Transaction Analysis The transaction involves the recording of a provision for depreciation of 200000fcfa on the trademarks of accounting and 150000fcfa on the bare ground of the company SA POJET in ... View the full answer
Related Book For
Managerial Accounting
ISBN: 978-0176223311
1st Canadian Edition
Authors: Karen Wilken Braun, Wendy Tietz, Walter Harrison, Rhonda Pyp
Posted Date:
Students also viewed these accounting questions
-
Record the following transactions at (a) Gross (b) Net: 201X Aug. 10 Bought merchandise on account from Glidden Co.; terms 5/10, n/30, $10,000. Voucher no. 29 was prepared. 25 Issued check no. 477 in...
-
Record the following transactions in general journal form. a. Sold merchandise on account to D. North, invoice no. 4556, $ 2,515.25. b. Sold merchandise on account to NexStar Industries, invoice no....
-
Record the following transactions in general journal form. a. Sold merchandise on account to A. Bauer, $ 680 plus $ 54.40 sales tax (invoice no. D446). b. Bauer returned $ 105.50 of the merchandise....
-
Two different compounds have the formulation CoBr(SO4) 5NH3. Compound A is dark violet, and compound B is red-violet. When compound A is treated with AgNO3 (aq), no reaction occurs, whereas compound...
-
In at least two paragraphs, narrate the realities of the interwar years.
-
A company applies factory overhead to production on the basis of direct labor dollars. At the end of the year, factory overhead has been over applied to the extent of $60,000. What factors can cause...
-
Current Ratio Calculate the company's current ratio for 2019 and compare the result to the industry average. Use the following financial data for Brenner Instruments Sales revenue.. Cost of goods...
-
Snidely Whiplash owns all the houses in the Yukon Territory, for which he charges the highest possible rent. He also owns the only electric company, which pollutes the territory's air. There is no...
-
The ages (in years) of a random sample of shoppers at a gaming store are shown. Determine the range, mean, variance, and standard deviation of the sample data set. 12,15,23,13,20,17,19.18,15,19 what...
-
Casey Morgan is a single taxpayer, social security number 412-34-5670, who lives at 582 Brockton Lane, Columbus, OH 43081. Casey has income from a job as a manager, interest and dividend income, and...
-
Read the excerpt from an essay on page 12 of your Readings Booklet and answer questions 31 to 33. 31. The writer suggests that portions of the play that were performed in stage productions of Richar
-
Determine whether the following statements are true or false and explain why: a. The accounting process is only interested in communicating economic activity. b. There are few potential users of...
-
Why is the need for competent and trustworthy personnel even more important when an organization uses computers for its data processing?
-
With the increasing use of computers for data processing, is the audit trail disappearing? Explain.
-
Briefly explain how assets could be lost by a person having unauthorized access to a payroll program.
-
How do independent checks on employee performance differ between a manual system and a computer system?
-
mph west to east with respect the ground? a. 450 mph West b. 450 mph East c. 550 mph West d. 550 mph East 6. A ball is thrown straight up in the air at 10 m/s. The time it takes to reach the top of...
-
Express mass density in kg/m3 and weight density in lb/ft3. 1. Find the mass density of a chunk of rock of mass 215 g that displaces a volume of 75.0 cm3 of water. 2. A block of wood is 55.9 in. x...
-
Vast Spirit imprints calendars with college and university names. The company has fixed expenses of $1,045,000 each month plus variable expenses of $3.90 per carton of calendars. Of the variable...
-
Alpha Semiconductors experienced the following activity in its Photolithography Department during December. Materials are added at the beginning of the photolithography process. Units: Work in...
-
Organicplus processes organic milk into plain yogurt. Organicplus sells plain yogurt to hospitals, nursing homes, and restaurants in bulk, 4-L containers. Each batch, processed at a cost of $810,...
-
_________ is the false belief that past outcomes affect future events.
-
Peoples concerns about fairness are illustrated in an experiment called the _________ game.
-
Behavioral economists say that people may treat \($1\) they received as a gift differently than \($1\) they earned through their hard work. They call this _________.
Study smarter with the SolutionInn App