Recent content by Triest123

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    Please help with preparation of Cash flow using indirect method

    CF using indirect method Cash flow from operating activities : Operating profit ---------------------------------------------> 29,167.2 Add : Depreciation on equipment --------------------------->400.0 Add : Depreciation on car-------------------------------------> 300.0...
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    UK EXAM assignment: Trial Balance, Stat. of Financial Positions, Cash Flow. HELP needed

    I think you've made mistakes in the adjusted entries, I can't figure it out unless you post the trial balance given by the queston. Also I can't fully see item 3, 4, 8 & 9 as shown on your trial balance.PNG
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    UK Marginal Costing - Do you include Fixed OH?

    Under marginal costing, only the variable manufacturing overhead costs are treated as inventoriable costs while the fixed manufacturing overhead costs are recognised as expense. Marginal costing For the year 2014 Sales ($1,000 x 900 ) -------------------------------------> 900,000 Less ...
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    Australia Inventory and change of estimating policy

    In the year 20x6 The decrease in value of opening inventory: 2,800 -2,700 = 100 The decrease in value of closing inventory: 2,900 - 2,750 = 150 So, the value of cost of goods sold was increased by : 150 - 100 = 50 The cost of goods sold for the year 20x6 was 24,000 + 50 = 24,050
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    Australia Inventory and change of estimating policy

    "The increase in the value of opening inventory" will result in increasing the value of the cost of goods sold. "The increase in the value of closing inventory" will result in decreasing the value of the costs of goods sold
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    USA Not sure if this example gains interest

    You should make an accrual for the interest expense for 4 months
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    USA Year-End adjusting entries?

    You should make an adjusted entry Dr Unearned/Deferred revenue Cr Service income (Being recognised the service income for 6 month)
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    USA Year-End adjusting entries?

    I think your question recognised all the payments received as revenue, so you need to make a year ended adjustment to reclass some payment received as "unearned revenue"
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    New Zealand Provision of doubtful debts and bad debts

    The additional bad debt provided for the year is 1,036 - ($2,500-1,800) = 336
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    India Cash Flow Statement

    It is a cash Item for Cash flow from Operation
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    Question regarding Provision of Telephone Expenses

    Dr Provision for telephone expense $100 Dr Telephone $ 50 Cr Bank $150 Being paid for the telephone expense and adjusted the over provided telephone expense in the previous month
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    Hey, i got a question...

    You are correct to make a accrual for the bank interest. Your tutor is right only if a suspense account shown on the trial balance (i.e. forgot to book the interest expense when it was paid)
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    Hey, i got a question...

    What is the amount of bank interest shown on the Trial Balance ?
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    Italy IAS 16 (Property - Plant - Equipment) - Simple exercise

    According to IAS36, the reverse of impairment loss that can be recognised in the income statement (i.e. the gain on valuation) is limited to increasing the carrying value of an asset to the carrying value at which the impairment had not been occurred. The carrying amount of the equipment at 31...
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