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The Hibiscus Lodge is a trader in plastic ornaments. On January 31, 2019 a fire destroyed the firms inventory records and some of its inventory.

The following information is available:

Inventory at January 1 - $320,000

Sales for January - $620,000

Purchases for January - $406,000

Inventory in good condition at January 31 - $116,000

Standard gross profit percentage on cost of sales is 25%. Based on the information, what is the value of inventory lost? Select one: a. $230,000 b. $155,000 c. $124,000 d. $114,000 A company has non-current assets with a net book value totaling $820,000 at the start of the year. Assets costing $95,000 was disposed of. These assets were held for three years at a straight-line depreciation rate of 20%. The depreciation charge for the year was $150,000. If the closing balance for the total non-current assets (at net book value) at the end of the year was $975,000, what value of new assets were purchased during the year? Select one: a. $400,000 b. $343,000 c. $193,000 d. $230,000 On April 1, 2019, Franky Paul started a business in Montego Bay, with its primary functions being the buying and selling of used auto parts. At the end of his first year of trading, he has provided you with the following account balances: Mr. Paul also had cash sales during the year amounting to $1,230,000, cash purchases amounting to $953,000, discounts allowed for $23,000, and discounts received for $14,500. In light of this information, how much was Mr. Pauls capital one year later, on April 1, 2020? Select one: a. $1,533,150 b. $1,556,150 c. $1,715,000 d. $1,738,000 A manufacturing firms costs were as follows: If goods are transferred at cost plus a 18% mark up, what is the value of unrealized profit at the end of the period? Select one: a. $4,538.14 b. $4,358.14 c. $5,368.90 d. $4,533.14 Guava Jelly Manufacturing Company has provided you with the following extract of their trial balance for the year ended December 31, 2019: You have also been told that the following items should be apportioned between the factory and the administrative office as follows: Guava Jelly maintains the aforementioned apportionment schedule from year to year for depreciation charges. Given that the company purchased the fixture and fittings on January 1, 2017 and that they use the reducing balance method of depreciation for fixture and fittings at a rate of 10%, how much of the depreciation charges will be attributable to the factory for the year ended December 31, 2020 (assuming that no additional fixtures and fittings have been purchased)? Select one: a. $8,748 b. $78,732 c. $87,480 d. $97,200

swer is: The company made no gain or loss on this sale as non-current assets with a net book value totaling $820,000 at the start of the year. Assets costing isposed of. These assets were held for three years at a straight-line depreciation rate of 20%. The charge for the year was $150.000. If the closing balance for the total non-current assets (at net book end of the year was $975.000 what value of new assets were purchased during the year? On April 1, 2019, Franky Paul started a business in Montego Bay, with its primary functions being the buying and selling of used auto parts. At the end of his first year of trading, he has provided you with the following account balances: Details Mar 31 Apr 01 Cash 520,000 0 422,000 123,200 0 1,500,000 95,000 Stock Creditors Motor van (book value) Computer (book value) Debtors Insurance prepaid Rent expense owing 5% Loan 78,300 1,350,000 80,750 28,500 0 0 12,000 0 32,000 400,000 350,000 Mr. Paul also had cash sales during the year amounting to $1.230,000, cash purchases amounting to $953.000, discounts allowed for $23,000, and discounts received for $14,500 In light of this information, how much was Mr. Paul's capital one year later on April 1, 20203 Select one: A manufacturing firm's costs were as follows: Wages (25% overheads, 50% direct) Factory overhead Depreciation of factory assets Administrative expenses Direct expenses Selling and distribution Work in progress (net) Raw materials Closing stock of finished goods $ 210,000 119,000 10,200 25,000 109,750 21,250 7,500 162,000 29,750 If goods are transferred at cost plus a 18% mark up, what is the value of unrealized profit at the end of the periode Select one: enotu vecerne s, 2017. 3,000,000 850,000 1,500,000 1,200,000 Premises at cost Machinery and equipment Motor vehicle at cost Fixtures and fittings Provision for depreciation: Machinery and equipment Motor vehicle Fixtures and fittings Return inwards Office expense Provision for unrealized profits Debtors Creditors 170,000 300,000 228,000 53,000 120,000 5,000 315,000 236,000 You have also been told that the following items should be apportioned between the factory and the administrative office as follows: 80% Items Factory Office Depreciation charges: 20% Machinery and equipment 90% 10% Fixtures and fittings Motor vehicle 60% 40% Guava Jelly maintains the aforementioned apportionment schedule from year to year for depreciation charges. Given that the company purchased the fixture and fittings on January 1 2017 and that they use the reducing balance method of depreciation for fidure and fittings at a rate of 10% how much of the depreciation charges wil be attributable to the factory for the year ended December 31, 2020 (assuming that no additional flydures and Chovnheen purchased The Hibiscus Lodge is a trader in plastic omoments. On January 31, 2019 a fire destroyed the firm's Inventory records and some of its inventory The following information is available: Inventory at January 1 - $320,000 Sales for January - $620.000 Purchases for January - $106.000 Inventory in good condition at January 31 - $116,000 Standard gross profit percentage on cost of sales is 25% Based on the information, what is the value of Inventory lost Selecione