On April 10, 2020, the equipment damaged the month and stock of Ehlert Lighting. Most of the bookkeeping was destroyed, but the residual accounts were determined as follows: March 31, 2020: Inventories (January 1, 2020), £ 80,000; Sales of goods (January 1 to March 31, 2020), £ 180,000; Purchase (Jan 1 to Mar 31, 2020), £ 94,000. The company's fiscal year ends on December 31st. The company uses system checks. From a bank analysis report in April, you discover the site paid out £ 4,200 between April 1-10. The transfer took the same total of £ 20,500 period. Among them, 60% is receivables from customer receivables and the balance is from sales proceeds. In comparison to the main suppliers, the company had revealed £ 12,400 in purchases subjected from April 1 to April 10. Of these, £ 1,900 was shipped on 10 April by destination FOB. Reconciliation with the main client of the company generated sales confirmations with a total value of £ 37,000 between April 1 and April 10. The £ 5,600 value of deferred sales will never be acknowledged or withdrawn from the customer. Ehlert Lighting has reached an agreement with the insurance company that their claim for failure must be based on an average reduction rate of deviation over the previous 2 years. Financial reports for 2018 and 2019 show the data. Revenue value capital purchased Top inventory Inventory at the end of the period 2019 600,000 pounds 404,000 60,000 80,000 2018 £ 480,000 346,400 40,000 60,000 Inventory worth £ 17,000 was saved from the fire. Request With the class divided into groups, 

answer:. 

a. Determine the balance in (1) Sales and (2) Purchases on April 10.

 b. Determine the average rate of return for 2018 and 2019. (Hint: Find your rate of return each year and divide the total by 2.) 

c. Identify non-existent affiliates from the results of work using the profit-profit method. 

Answer rating: 100% (QA)

a 1 Sales January 1March 31 180000 Cash sales 41410 20500 X 40 8200 Acknowledged credit sales 4... View the full answer