Nikoloz Ltd manufactures a single product. Its goods are transferred from the factory at cost plus 25
Question:
Nikoloz Ltd manufactures a single product. Its goods are transferred from the factory at cost plus 25 percent.
The following information is available at 31 October 2014.
Prepare a statement of financial position extract to show the inventories held by Nikoloz Ltd at 31 October 2014.
Transcribed Image Text:
Inventory of finished goods at cost plus 25% 42 000 Inventory of raw matenals Inventory of work in progress 16 100 23 800 o %24
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 57% (14 reviews)
Statement of Financial Position Ex...View the full answer
Answered By
Maurat Ivan
I have been working in the education and tutoring field for the past five years, and have gained a wealth of experience and knowledge in this area. I have a bachelor's degree in education, and have completed additional coursework in teaching and tutoring.
In my previous roles, I have worked as a teacher in both private and public schools, teaching a variety of subjects including math, science, and English. I have also worked as a private tutor, providing one-on-one tutoring to students in need of additional support and guidance.
In my current role, I work as an online tutor, providing virtual tutoring services to students around the world. I have experience using a variety of online tutoring platforms and technologies, and am comfortable working with students of all ages and skill levels.
I am passionate about helping students succeed and reach their full potential, and I believe that my education and tutoring experience make me an excellent candidate for a tutoring job at SolutionInn. I am confident that my knowledge, skills, and experience will enable me to provide top-quality tutoring services to students on the SolutionInn platform.
0.00
0 Reviews
10+ Question Solved
Related Book For
Accounting For Cambridge International AS And A Level
ISBN: 9780198399711
1st Edition
Authors: Jacqueline Halls Bryan, Peter Hailstone
Question Posted:
Students also viewed these Business questions
-
A company using process costing manufactures a single product which passes through two processes, the output of process 1 becoming the input to process 2. Normal losses and abnormal losses are...
-
Statement of Financial position Adjustment and Preparation Presented below is the statement of financial position of Sargent Corporation for the current year. 2010 The following information is...
-
The 2014 statement of financial position of Annas Tennis Shop Inc. showed long term debt of $1.45 million, and the 2015 statement of financial position showed long-term debt of $1.52 million. The...
-
What are the pros and cons of Sephora carrying more than 200 brands of personal care products?
-
The types of raw materials used to construct stone tools found at the archaeological site Casa del Rito are shown below (Bandelier Archaeological Excavation Project, edited by Kohler and Root). A...
-
A machine costs Rs 90,000 and is deemed to have a scrap value at 5% at the end of its effective life. A machine costs Rs 90,000 and is deemed to have a scrap value at 5% at the end of its effective...
-
For the linear demand curve in Technical Problem 12 (on the next page): a. Write the equation for the demand curve. b. Write the equation for the inverse demand curve. c. Write the equation for the...
-
Leno Company makes swimsuits and sells these suits directly to retailers. Although Leno has a variety of suits, it does not make the All-Body suit used by highly skilled swimmers. The market research...
-
Coverall Inc. produces and sells a unique type of case for a standard-size tablet computer that is guaranteed waterproof but still allows for regular functionality of the tablet. The company has just...
-
Your division is considering two projects with the following net cash flows (in millions): a. What are the projects? NPVs assuming the WACC is 5%? 10%? 15%? b. What are the projects? IRRs at each of...
-
Sing to the Sky is a club that promotes choral singing among teenagers. Every year an outdoor concert with an evening barbecue is given at the clubhouse to raise funds for the club. The following...
-
Explain the distinction between a qualified and unqualified auditors' report. b Describe three important elements of an unqualified auditors' report.
-
An airplane starting from rest at one end of a runway accelerates uniformly at 4.0 m/s 2 for 15 s before takeoff. (a) What is its takeoff speed? (b) Show that the plane travels along the runway a...
-
From your reading this unit on motivation and change from the TIP series, what is the connection and interplay between these concepts/statements below in your opinion in working with clients facing...
-
Please help with the following The partnership of Bauer, Ohtani, and Souza has elected to cease all operations and liquidate its business property. A balance sheet drawn up at this time shows the...
-
Pacifico Company, a U.S.-based importer of beer and wine, purchased 1,200 cases of Oktoberfest-style beer from a German supplier for 276,000 euros. Relevant U.S. dollar exchange rates for the euro...
-
Define meaning of partnership deed.
-
List down the information contains in the partnership deed.
-
On January 1, 2021, the Allegheny Corporation purchased equipment for $115,000. The estimated service life of the equipment is 10 years and the estimated residual value is $5,000. The equipment is...
-
Proposals have been made to ?sail? spacecraft to the outer solar system using the pressure of sunlight, or even to propel interstellar spacecraft with high-powered, Earth-based lasers. Sailing...
-
The following list of personnel within organizations comes from Figure 1.1. 1. Board of directors 2. Chief financial officer 3. Controller 4. Managerial accountant 5. Financial accountant 6. Tax...
-
The balance in the work-in-process inventory account of Sedona Production, Inc., was $800,000 at the beginning of May and $750,000 at the end of May. Manufacturing costs for the month follow....
-
The balance in Macedonia Companys finished goods inventory account was $650,000 at the beginning of January and $525,000 at the end of January. Cost of goods manufactured for the month totaled...
-
QUESTION 3 A business owns seven flats rented out to staff at R500 per month. All flats were tenanted Ist january 21 months rent was in arrears and as at 31st December 14 months' rent wa Identify the...
-
1. 2. 3. Select the Tables sheet, select cells A6:B10, and create range names using the Create from Selection button [Formulas tab, Defined Names group]. Select cells B1:F2 and click the Name box....
-
Tropical Rainwear issues 3,000 shares of its $18 par value preferred stock for cash at $20 per share. Record the issuance of the preferred shares. (If no entry is required for a particular...
Study smarter with the SolutionInn App