From the following transactions, prepare stores ledger account using simple average price method: January 1. Opening balance
Question:
From the following transactions, prepare stores ledger account using simple average price method:
Transcribed Image Text:
January 1. Opening balance 100 units at Rs. 5 each 5. Received 500 units at Rs. 6 each 20. Issued 300 units February 5. Issued 200 units 6. Received 500 units at Rs. 5 each March 10. Issued 300 units 12. Issued 250 units
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Answered By
Talha Talib
I am a member of IEEE society. As i am a student of electrical engineering badge 17 but beside of this i am also a tutor in unique academy. I teach calculus, communication skills, mechanics and economics. I am also a home tutor. My student Muhammad Salman Alvi is a brilliant A-level student and he performs very well in academics when i start to teach him. His weak point was mathematics but now he is performing well in mathematics. I am a scholarship holder in Fsc as i scored 1017 marks in metric out of 1100. Later on i got scholarship in Punjab Group of Colleges. I got 2nd position in robotics competition in 2018 as my project home automation select for the exhibition in Expocentre.
4.60+
23+ Reviews
62+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Answer All the questions (a) The International Accounting Standards Board's framework for the presentation of financial statements prescribes for recognition of assets only when two conditions are...
-
Accounting for Inventories" Please respond to the following: As a Financial Accountant,determine the best type of income statement a retailer should use.Defend your suggestion. Analyze inventory...
-
Required information [The following information applies to the questions displayed below.] Kubin Company's relevant range of production is 16,000 to 24,500 units. When it produces and sells 20,250...
-
The controller of Northwest Hardware has just received two forecasts for sales in the Montana District for the coming year. Based on an econometric analysis of consumer spending and economic trends,...
-
Hong is paid a semi-monthly salary of $1088.75. Regular hours are 37 12 per week and overtime is paid at time-and-a-half regular pay. (a) What is Hongs hourly rate of pay? (b) How many hours overtime...
-
Revise the following statements to imply the bad news. If possible, use passive-voice verbs and subordinate clauses to further de-emphasize the bad news. Direct refusal: We cannot send you a price...
-
Parker, Inc., acquires 70 percent of Sawyer Company for $420,000. The remaining 30 percent of LO6 Sawyers outstanding shares continue to trade at a collective value of $174,000. On the acquisition...
-
What are the assumptions underlying common queuing models?
-
Pebco Company's 2011 master budget included the following fixed budget report. It is based on an expected production and sales volume of 18,000 units. PEBCO COMPANY Fixed Budget Report For Year Ended...
-
From the following details, write up stores ledger account using simple average method: The stock verifi er found a shortage of 10 kg on 16 December and another shortage of 10 kg on 26 December....
-
The stock of materials as on 1 January was 750 units @ Rs.1.50 per unit. Following purchases and issues of this item were made subsequently: Prepare stores ledger account assuming that the issues are...
-
To calculate the cap premium several factors are considered, including: a) Exchange volatility b) Market volatility c) Interest volatility d) None of the above
-
IFRS Financial Statements Thomson Reuters is a global information company created by the 2008 merger of the Thomson Corporation, a Canadian company, with the Reuters Company, a United Kingdom-based...
-
Burgess Services Co. experienced the following events in 2011: 1. Provided services on account. 2. Collected cash for accounts receivable. 3. Attempted to collect an account and, when unsuccessful,...
-
In Exercises 13 and 14, use the box-and-whisker plot to identify the five-number summary. 0 2 5 8 10 ++ ++ 0 1 2 3 4 5 6 7 8 9 10 11
-
In a test of the effect of dampness on electrical connections, 80 electrical connections were tested under damp conditions and 130 were tested under dry conditions. Twenty of the damp connections...
-
Zelta Ltd. is a medium-size company involved in providing a range of specialized products and services for the aerospace industry. Just over a year ago, external consultants undertook a major review...
-
You have been offered tickets to your favorite entertainment event of the year by a major potential supplier. The offer includes full corporate hospitality treatment. Should you accept this offer?
-
Given the table below, about how much force does the rocket engine exert on the 4.0 kg payload? Distance traveled with rocket engine firing (m) Payload final velocity (m/s) 500 320 490 310 1020 450...
-
Assignment Title: The Role of Bookkeeping in Business Management and Financial Reporting Objective: Understand the importance of proper bookkeeping procedures in the management of...
-
17) The adjustment that is made to allocate the cost of a building over its expected life is called:A) depreciation expense.B) residual value.C) accumulated depreciation.D) None of the above answers...
-
9) Prepaid Rent is considered to be a(n):A) liability.B) asset.C) contra-asset.D) expense.10) As Prepaid Rent is used, it becomes a(n):A) liability.B) expense. C) contra-asset.D) contra-revenue.11)...
Study smarter with the SolutionInn App