Net realisable value - Study guides, Study notes & Summaries

MAC3701 Assignment 2 Semester 2 2023 - DUE 11 September 2023 @ 10 pm CAT 100% TRUSTED workings, explanations and solutions. For assistance call or Whatsapp us on +25477 954 0132 . QUESTION 1 100 Marks Monate (Pty) Ltd (“Monate”) operates a sugar mill and refinery in Vanderbijlpark, Gauteng. The company is owned by the Ntsane siblings. The company uses the direct costing method for inventory valuation and values all its inventories using the first-in-first-out (FIFO) method. The compa...

FAC1601 Assignment 2 Semester 1 2023/2024 Update FAC1601 Assignment 2 Semester 1 2023/2024 Update Question 1 Which of the following statements is correct: 1. When revaluing an asset or liability in terms of a change in ownership structure, the current account is used. The current account is then closed off to the accounts of theexisting partners according to their existing profit-sharing ratio. 2. The selling price of a partnership is determined by the cost price of the partnership. ...

100% SOLUTIONS FOR FAC1601 QUESTIONS ANSWERED Which of the following statements is correct: 1. A liability is a future obligation of a reporting entity to transfer an economic resource as a result of a past event. 2. The accounting equation is: Liabilities + Assets = equity 3. The value of a reporting entity lies in the net assets (assets minus liabilities) under its control. 4. Equity is the residual interest in the assets of the entity after deducting all the expenses.Question text The d...

MAC3701 Assignment 1 Semester 1 2023 100% TRUSTED workings, explanations and solutions. For assistance call or whatsapp us on 079 811 9845 . QUESTION 1 Which one of the following is not a characteristic of activity-based-costing (��ABC”) system? A. Because of the extensive number of cost drivers that must be identified and measured, this costing system can be prohibitively expensive to implement and operate. B. The allocation basis is referred to as ‘cost driver’, as a cause-and-effec...

IAS 2 Inventories Exam Questions & Answers 2024/2025 True - ANSWERSThe objective of this Standard is to prescribe the accounting treatment for inventories. A primary issue in accounting for inventories is the amount of cost to be recognised as an asset and carried forward until the related revenues are recognised. par. 1 True - ANSWERSThis Standard provides guidance on the determination of cost and its subsequent recognition as an expense, including any write down to net realisable va...

FAC1601 Assignment 2 Semester 1 2023 () 100% TRUSTED workings, explanations and solutions. For assistance call or whatsapp us on +25479 811 9845 . Which of the following statements is correct: 1. W hen revaluing an asset or liability in terms of a change in ownership structure, the current account is used. The current account is then closed off to the accounts of theexisting partners according to their existing profit-sharing ratio. 2. The selling price of a partnership is determined by the cos...

Introduction and overview of the module ......................................................... ii LEARNING UNIT 1 Introduction to the preparation of financial statements .......................... 1 LEARNING UNIT 2 Financial statements of a sole proprietorship ........................................ 24 LEARNING UNIT 3 Establishment and financial statements of a partnership ...................... 46 LEARNING UNIT 4 Changes in the ownership structure of partnerships ..............

A company has an operating profit of £12 million. If raw materials increased by £4 million, receivables decreased by £2 million and accounts payable increased by £2 million, the operating cash flow would be: - ️️Any increase in inventory: deduct from trading profit, the decrease in receivables: add to trading profit and the Increase in payables: add to trading profit.£12m - £4m + £2m + £2m = £12m A company has completed a 1:5 stock-split. Following the stock-split the most likely i...

5 lOMoAR cPSD| Downloaded by nipsey scott () After discussions with one of her colleagues, Judy realised that it might be cheaper to manufacture some of the handbags herself. A friend of hersis a designer, and soon Judy started manufacturing her own range of handbags with the assistance of her friend. It did not take long before Judy realised that she did not know how to account for the production expenses. Should she capitalise them as assets? Or expense them immediately? She approached ...

MAC2601 Principles of Management Accounting 100 Marks Duration 2 Hours This paper consists of twelve (12) pages (including this page). Instructions: 1. This paper consists of FIVE (5) questions and all five questions must be answered. 2. Each question attempted, must commence on a new (separate) page. 3. You may answer the questions in any order, but each answer must be numbered exactly the same as the corresponding question. 4. For questions 1 – 4, all calculations must be show...