The following is a record of Waterway Company's transactions for Boston Teapots for the month of May 2020. آلية May 1 Balance 12 28 476 units @ $20.00 May 10 Sale 357 units@ $37.00 Purchase 714 units @ $27.00 20 Sale 643 units @ $37.00 Purchase 476 units @ $31.00
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- The following information is taken from the financial statement of Al Reem Manufacturing LLC for the month of March 2021, the company follows FIFO method for material issue pricing: 1st March 2021: Opening balance – 50 units @ RO 4 Receipts: 5th March: 100 units @ RO 5 12th March: 200 units @ RO 4.50 24th March: 150 units @ RO 3 Issues: 2nd March: 30 units 18th March: 150 units 30th March: 100 units Identify the total issues amount for the month of March 2021 for Al Reem Manufacturing LLC. a. RO 765 b. RO 1,850 c. RO 1,285 d. RO 1,480The following information is taken from the financial statement of Al Reem Manufacturing LLC for the month of March 2021, the company follows FIFO method for material issue pricing: 1st March 2021: Opening balance – 50 units @ RO 4 Receipts: 5th March: 100 units @ RO 5 12th March: 200 units @ RO 4.50 24th March: 150 units @ RO 3 Issues: 2nd March: 30 units 18th March: 150 units 30th March: 100 units Use the above information and answer 34 MCQ 34. Identify the total number of units on 12th March 2021 for Al Reem Manufacturing LLC. a.220 units b.320 units c.280 units d.450 unitsSupposing EQR Trading has completed the following transactions for the month of October, 2020. 1. Sale of goods to company A on credit P200,000. 2. Purchase of goods of P400,000 from company B on credit 3. Purchase of goods of P500,000from company C on credit. 4. Sales of office-use equipment of P100,000 to company D on credit. What is the total amount recorded in the Sales account for this month?
- The following information is taken from the financial statement of Al Reem Manufacturing LLC for the month of March 2021, the company follows FIFO method for material issue pricing: 1st March 2021: Opening balance – 50 units @ RO 4 Receipts: 5th March: 100 units @ RO 5 12th March: 200 units @ RO 4.50 24th March: 150 units @ RO 3 Issues: 2nd March: 30 units 18th March: 150 units 30th March: 100 units Use the above information and answer 32 MCQ 32. Identify the total receipts amount for the month of March 2021 for Al Reem Manufacturing LLC. a.RO 765 b.RO 1,480 c.RO 1,285 d.RO 1,850The following information is taken from the financial statement of Al Reem Manufacturing LLC for the month of March 2021, the company follows FIFO method for material issue pricing: 1st March 2021: Opening balance – 50 units @ RO 4 Receipts: 5th March: 100 units @ RO 5 12th March: 200 units @ RO 4.50 24th March: 150 units @ RO 3 Issues: 2nd March: 30 units 18th March: 150 units 30th March: 100 units 1- Identify the total issues amount for the month of March 2021 for Al Reem Manufacturing LLC. a. RO 765 b. RO 1,480 c. RO 1,285 d. RO 1,850 2- Identify the total amount of balance on 12th March 2021 for Al Reem Manufacturing LLC. a. RO 765 b. RO 1,480 c. RO 1,285 d. RO 1,850 3- Identify the units in closing stock for the month of March 2021 for Al Reem Manufacturing LLC. a. 220 units b. 450 units c. 320 units d. 280 unitsThe following information is taken from the financial statement of Al Reem Manufacturing LLC for the month of March 2021, the company follows FIFO method for material issue pricing: 1st March 2021: Opening balance – 50 units @ RO 4 Receipts: 5th March: 100 units @ RO 5 12th March: 200 units @ RO 4.50 24th March: 150 units @ RO 3 Issues: 2nd March: 30 units 18th March: 150 units 30th March: 100 units Use the above information and answer 32, 33 and 34 MCQs 1-Identify the total number of units received during the month of March 2021 for Al Reem Manufacturing LLC. a. 320 units b. 220 units c. 280 units d. 450 units 2-Identify the total number of units on 12th March 2021 for Al Reem Manufacturing LLC. a. 280 units b. 320 units c. 450 units d. 220 units 3-Identify the total receipts amount for the month of March 2021 for Al Reem Manufacturing LLC. a. RO 1,285 b. RO 1,480 c. RO 765 d. RO 1,850
- The following information is taken from the financial statement of Al Reem Manufacturing LLC for the month of March 2021, the company follows FIFO method for material issue pricing: 1st March 2021: Opening balance – 50 units @ RO 4 Receipts: 5th March: 100 units @ RO 5 12th March: 200 units @ RO 4.50 24th March: 150 units @ RO 3 Issues: 2nd March: 30 units 18th March: 150 units 30th March: 100 units Use the above information and answer 32, 33 and 34 MCQs Identify the total number of units received during the month of March 2021 for Al Reem Manufacturing LLC. a. 220 units b. 280 units c. 320 units d. 450 unitsBelow are selected transactions of Diya Automotive Company during 2022. Aug. 1 Diya Automotive Company bought $9,200 of merchandise inventory, a new factory machine for $2,600 and office supplies for $800 from a supplier. (All plus HST of 13% on account). Aug. 15 Diya returned $1,000 of the merchandise inventory to the supplier. Sept. 1 Diya sold merchandise inventory costing $750 for $1,300 (plus HST of 13%) to Lily Peng on account. Sept. 15 Lily Peng returned $300 from the Sept.1 sale. The cost of the returned items was $150 and they were returned to inventory. Oct. 1 Diya purchased $1,200 of office equipment (plus HST of 13%) from Staples on account. Prepare all the necessary journal entries for the above transactions. Assume that Diya Automotive Company uses a perpetual inventory system and an HST rate of 13%.Below are selected transactions of Diya Automotive Company during 2022. Aug. 1 Diya Automotive Company bought $9,200 of merchandise inventory, a new factory machine for $2,600 and office supplies for $800 from a supplier. (All plus HST of 13% on account). Aug. 15 Diya returned $1,000 of the merchandise inventory to the supplier. Sept. 1 Diya sold merchandise inventory costing $750 for $1,300 (plus HST of 13%) to Lily Peng on account. Sept. 15 Lily Peng returned $300 from the Sept.1 sale. The cost of the returned items was $150 and they were returned to inventory. Oct. 1 Diya purchased $1,200 of office equipment (plus HST of 13%) from Staples on account. Prepare all the necessary journal entries for the above transactions. Assume that Diya Automotive Company uses a perpetual inventory system and an HST rate of 13%. Please donot provide solution in image format and provide solution in step by stepformat and asapf
- Smile JungkookCompany reported the following balances at the end of each year: 2020 2019 InventoryP2,600,000 P2,900,000 , Accounts Payable 750,000 500,000 The entity paid suppliers P4,900,000 during the year ended December 31, 2020.What should be the amount to be reported for cost of goods sold in 2020?The following information is taken from the financial statement of Al Reem Manufacturing LLC for the month of March 2021, the company follows FIFO method for material issue pricing: 1st March 2021: Opening balance – 50 units @ RO 4 Receipts: 5th March: 100 units @ RO 5 12th March: 200 units @ RO 4.50 24th March: 150 units @ RO 3 Issues: 2nd March: 30 units 18th March: 150 units 30th March: 100 units 1- Identify the total number of units on 12th March 2021 for Al Reem Manufacturing LLC. 2- Identify the total issues amount for the month of March 2021 for Al Reem Manufacturing LLC. 3- Identify the total number of units received during the month of March 2021 for Al Reem Manufacturing LLC.The business had 200 units in inventory at 1st February 2018 valued at RO 20. On 10th February Purchase made 400 units at RO 30 each. On 28th February Sales made 500 units at RO 40 each. What will be the cost of goods sold value at the end of February 2018 assuming that the business uses LIFO method?