Question 2 Kweku Boasiako Ltd, a pharmaceutical company in Accra receives large orders from customers in...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Question 2 Kweku Boasiako Ltd, a pharmaceutical company in Accra receives large orders from customers in Takoradi. In December 2018, management decided to start a new branch at Takoradi. The Takoradi branch became operational in January 2019. The following information relates to their operations for February 2019: Balances as at 31" January 2019 Cash at Bank GH¢ 17,500 Stock of Pharmaceutical product GH¢ 25,800 Transactions during the month of February were Goods sent to Branch (at cost to head office) GH¢128,500 Goods returned from branch to Head office (at cost of HO) GH¢13,250 Cash sales paid in bank account GH¢108,900 Credit sales GH¢44,700 Goods received from customers GH¢1,500 Cheques received from customers GH¢40,600 Office Stationery GH¢2,000 General Expenses GH¢ 800 Bad Debts written off GH¢500 Discount allowed to customers GHÇ800 Cash sent to head office GH¢151,300 Transactions at head office on behalf of branch: Goods sent to branch (at cost to the office) as above Rent and rates Gh¢ 4.500 Stock at the branch at the end of February was GHÇ 8.000 Required Using the Cost price method, post the above transactions into the relevant ledgers in the Head office books (30 Marks) Question 2 Kweku Boasiako Ltd, a pharmaceutical company in Accra receives large orders from customers in Takoradi. In December 2018, management decided to start a new branch at Takoradi. The Takoradi branch became operational in January 2019. The following information relates to their operations for February 2019: Balances as at 31" January 2019 Cash at Bank GH¢ 17,500 Stock of Pharmaceutical product GH¢ 25,800 Transactions during the month of February were Goods sent to Branch (at cost to head office) GH¢128,500 Goods returned from branch to Head office (at cost of HO) GH¢13,250 Cash sales paid in bank account GH¢108,900 Credit sales GH¢44,700 Goods received from customers GH¢1,500 Cheques received from customers GH¢40,600 Office Stationery GH¢2,000 General Expenses GH¢ 800 Bad Debts written off GH¢500 Discount allowed to customers GHÇ800 Cash sent to head office GH¢151,300 Transactions at head office on behalf of branch: Goods sent to branch (at cost to the office) as above Rent and rates Gh¢ 4.500 Stock at the branch at the end of February was GHÇ 8.000 Required Using the Cost price method, post the above transactions into the relevant ledgers in the Head office books (30 Marks)
Expert Answer:
Related Book For
Probability and Statistics for Engineers and Scientists
ISBN: 978-0495107576
3rd edition
Authors: Anthony Hayter
Posted Date:
Students also viewed these accounting questions
-
1. 2. 3. 4. With the following questions mark whether each is non-reasoning or reasoning. If "reasoning," then: Circle indicator words and/or phrases Mark off and number the statements Paraphrase and...
-
John is employee of Pharmdevelopment Co, a pharmaceutical company in Victoria. He has signed an employment contract with Pharmdevelopment Co as a pharmaceutical scientist for 7 years. As he is...
-
Question 2 Black Ltd enters into a call option contract with White Ltd that gives Black Ltd the right to acquire 100,000 shares in Orange Ltd. The options premium is $0.50 each. The details of the...
-
The accompanying table shows data from the World Bank, World Development Indicators, for real GDP per capita (2010 U.S. dollars) in France, Japan, the United Kingdom, and the United States in 1960...
-
Use p-values to test the null hypothesis of equal means against an alternative that 2 > 1 when sample means of 1 and 2 are found from samples of size n1 and n2 with sample variances s21 and s22. Use...
-
The automated DNA sequencing machines utilize fluorescent dyes to detect the nascent DNA chains synthesized in the presence of the four dideoxy (ddX) chain terminators, each labeled with a different...
-
When should benchmarking be preferred to direct estimates of the magnitudes of benefits? When should direct estimates be preferred? Is it appropriate to use both?
-
High Range produces fleece jackets. The company uses JIT costing for its JIT production system. High Range has two inventory accounts: Raw and In-Process Inventory and Finished Goods Inventory. On...
-
Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates:...
-
1. Name at least three ways that Shu could automate her asset management. Suggest at least one option for retirement savings, general savings, and general convenience. 2. What major factors should...
-
Prove that both I(t) and S(t) obtained analytically are well-defined functions. Then, without applying as (A1), verify that the analytical solutions I (t) and S(t) satisfy 0 1(t), S(t) N for any t ...
-
Sara contracted to buy a new Steinway Model O grand piano for $52,400 from InTune Pianos. InTune delivered a piano that had been in storage for a year and had been moved at least six times. The piano...
-
Eagle Equipment sells motor vehicle parts to dealers. In response to a dealers order, Eagle ships a crate with a label that reads, Crate contains one 150-horsepower diesel engine. This statement is...
-
B&B Sales, Inc., sells drones. A B&B salesperson claims, This is the finest drone ever made. This statement is a. an express warranty. b. an implied warranty of merchantability. c. an implied...
-
Jane buys a defective product from Valu-Mart and is injured as a result of using the product. If Jane sues Valu-Mart based on strict liability, to recover damages she must prove that Valu-Mart a. was...
-
BRC Rubber and Plastics, Inc., had a contract with Continental Carbon Co., in which Continental would sell carbon black to the buyer. Carbon black is used principally in the manufacture of rubber...
-
An American exporter denominates its Australian exports in AUD and expects to receive AUD 2,000,000 in 1 year. The company's financial manager expects the AUD rate after 1 year to be 1.40. The Firm...
-
Tell whether the angles or sides are corresponding angles, corresponding sides, or neither. AC and JK
-
Consider a set of independent data observations x1,...,xn that have an exponential distribution with an unknown parameter . Show that the method of moments and maximum likelihood estimation both...
-
The records at the emergency rooms of five hospitals over a certain period of time were examined. Each patient was classified as either being "admitted to the hospital" or as "returned home." as...
-
Let X1,..., Xn be a set of independent random variables with a U(0, θ) distribution, and let T = max{X1,..., Xn} (a) Explain why the cumulative distribution function of T is F(t) =...
-
Make a bar chart of \(\mathrm{CO}_{2}\) footprint divided by embodied energy, using data from the data sheets of Appendix A, Table A10, for a. Cement b. Low carbon steel c. Copper d....
-
a. Window frames are made from extruded aluminium. It is argued that making them instead from extruded PVC would give a product with a lower embodied energy and carbon footprint. If the section shape...
-
a. A range of office furniture includes a chunky hardwood table weighing \(18 \mathrm{~kg}\) and a much lighter table with a \(3.0 \mathrm{~kg}\) virgin aluminium frame and a \(3.0 \mathrm{~kg}\)...
Study smarter with the SolutionInn App