MITS MIGH W33 Across 4. Set of accounting standards that have authoritative support 8. Land lease, building mortgage ✓9. Examples: Salaries, cost of goods, shipping costs, utilities 10. The basic form of an account ✓11. Ability to pay obligations expected to become due ***** Down 1. Increase in assets or decrease in liabilities 3. The left side of an account ✓5. Examples: Cash, property, plant, and equipment ✓6. Goods available for future sales or use in service for customers 7. The right side of an account
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- NOVEMBER 2023 /FIN2203/FIN2063/FIN301 ASSIGNMENT You are required to: i. Select THREE(3) companies in different industries, listed under Bursa Malaysia, and make sure each company that you choose used different policies. Download any financial statement that is relevant for you for this assignment. ii. For each of the company, please identify the following: Permanent Asset Temporary Current Asset Permanent Sources of financing Temporary Sources of financing Spontaneuos Sources of financing iii. From the statements, justify your answer on working capital financing policies adopted by each company. Explain. iv. Assess for each of the companies's: a) Operating cycle. b) Cash conversion cycle. c) Annual savings if the operating cycle is reduced by 10 days.Question 1. Trial balanceLand and premises 2000000Furniture 120000Inventory (01/04/19) 80000Import on duty 4000Wages of contract workers 46000Salaries 64000Carriage for goods purchased 5200Carriage for goods sold 12400Discounts 24900 25080Purchases and sales 705200 237252200 Rent 11200 13000Commission 15600 17400Bills receivable 1080012% investment (1/10/19) 136000Donation to national fund 1260010% bank loan 112000Factory rent 64000Receivables and payables 920000 240000eBank 728000Bad debts 66000 Provision for doubtful debts 20000Rates and taxes 31200BrokerageCapitalQueen corona 500000Queen covid 500000Current accountQueen corona 20000Queen covid 128000 Additional informationDue to the economic recession at the moment, the partners estimated that more of their receivables may not be able to settle their debts, hence, they wrote off additional debts of GHc 15000 and agreed to maintain provisions for doubtful debts at 5%.They agreed to provide for discount on receivables at 5%.All…Problems 1-6 Use the below table to answer the questions. Segment Reporting Practice Exam Segments Red Blue Green Pink Black White Sales to outsiders 1811 812 514 309 121 99 Intersegment revenues 16 91 109 0 16 302 Salary expense 614 379 402 312 317 62 Rent expense 139 166 81 92 42 31 Segment Profit and Loss Segment Assets 100 300 600 200 300…
- Problems 1-6 Use the below table to answer the questions. Segment Reporting Practice Exam Segments Red Blue Green Pink Black White Sales to outsiders 1811 812 514 309 121 99 Intersegment revenues 16 91 109 0 16 302 Salary expense 614 379 402 312 317 62 Rent expense 139 166 81 92 42 31 Segment Profit and Loss Segment Assets 100 300 600 200 300…59. Question: In conformity with the revenue test, what is the total revenue of the reportable segments? CHOICES: P51,000 P52,000 P71,000 P60,000Info for question in attached images Answer Choices for Q1 a. $7,500 b. $10,830 c. $7,400 d. $25,730
- Info in images Answer choices for Q1 a. $46,154 b. $29,970 c. $11,988 d. $41,958(answer in good accounting form is much appreciated. thanks) What is the cost of goods manufactured?A. 3,200,000B. 3,100,000C. 3,300,000D. 3,000,000Beginning Balance (BB) ? $ 8,820 $ 73,500 Ending Balance (EB) 36,260 ? 77,000 Transferred In (TI) 196,500 44,500 ? Transferred Out (TO) 194,700 48,400 183,800 For Case (A) above, what is the Beginning Balance (BB)? Multiple Choice $35,940. $38,300. $39,960. $34,460.
- 15 - What is the name of the accounts that are used to monitor the changes in resources and give the remainder?A) ACTIVE ACCOUNTSB) PASSIVE ACCOUNTSC) EXPENSE ACCOUNTSD) INCOME ACCOUNTSE) OPEN ACCOUNTOn what information return (T-slip) is the amount withdrawn from an individual's RRSP account reported? Question 16 options: a) T4RSP slip b) T4 slip c) T5 slip d) T4A slipQ12 You are required to compute the sum of Net social income to staff, community and general public as a whole, if: Net social income to General public is OMR 900 Net social income to staff is OMR 600 and Net social income to community is OMR 400. a. None of them is correct b. OMR 1,000 c. OMR 1,900 d. OMR 1,500