FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QUESTION THREE [5] A perpetual inventory system is implemented at TRADERS (Pty) Ltd. The balance carried forward for the financial period amounted to R13 000

image text in transcribed
QUESTION THREE [5] A perpetual inventory system is implemented at TRADERS (Pty) Ltd. The balance carried forward for the financial period amounted to R13 000 . The total purchases amounted to R20 000 with sales of R18 500. Management considers changing to a periodic inventory system and requested an explanation from you on how the transaction recording would be affected. (5) QUESTION THREE [5] A perpetual inventory system is implemented at TRADERS (Pty) Ltd. The balance carried forward for the financial period amounted to R13 000 . The total purchases amounted to R20 000 with sales of R18 500. Management considers changing to a periodic inventory system and requested an explanation from you on how the transaction recording would be affected

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Accounting A Managerial Emphasis

Cost Accounting A Managerial Emphasis

Authors: Charles T Horngren

6th Edition

0131795082, 978-0131795082

More Books

Students also viewed these Accounting questions

Question

★★★★★
Kristin owns a rental property. She purchased the land for $200,000 and built the building at a time when construction costs were high. Her total cost for the building is $400,000. In the current...

Answered: 1 week ago

Question

★★★★★
Lefties In a random sample of males, it was found that 23 write with their left hands and 217 do not. In a random sample of females, it was found that 65 write with their left hands and 455 do not...

Answered: 1 week ago

Question

★★★★★
appreciate how these theoretical approaches are applied in practice;

Answered: 1 week ago

Question

★★★★★
A city funds the construction of a golf course by issuing $50 million in general obligation bonds. However, it accounts for the golf course in an enterprise fund, and it intend store pay the debt...

Answered: 1 week ago

Question

★★★★★
15.120 Calculate the pH of a 0.100M solution of Na2C2O4 For H2C2O4,Ka1=5.9102, and Ka2=6.4105

Answered: 1 week ago

Question

★★★★★
Food For Less (FFL), a grocery store, is considering offering one hour photo developing in their store.The firm expects that sales from the new one hour machine will be $150,000 per year.FFL...

Answered: 1 week ago

Question

★★★★★
Ami stops to fill her car with gas at Local Gas Station. Unbeknownst to Ami, Amari, one of the employees at the store, has placed a device on the pump that allows her to steal the credit card number....

Answered: 1 week ago

Question

★★★★★
Design a custom date function that showcases your coding abilities and originality. The function should take 3 inputs: the output of the Get-Date cmdlet, and two additional parameters. It must...

Answered: 1 week ago

Question

★★★★★
5. Find the tension in the cable and the force exerted by the hinge on the beam. The beam has mass 50.0 kg and length 7.00m. (754N; 492N at 10.2 below hzntl) 80.0 30.0 7.00 m 2.00 m

Answered: 1 week ago

Question

★★★★★
The ethical principle of applies to the security of payroll records. Multiple Choice Professional Competence and Due Care Integrity Confidentiality Objectivity and Independence

Answered: 1 week ago

Question

★★★★★
QS 1-7 (Algo) Applying the accounting equation LO A1 a. Total assets of Charter Company equal $730,000 and its equity is $435,000. What is the amount of its liabilities? b. Total assets of Martin...

Answered: 1 week ago

Question

★★★★★
Do you do anything to exceed customers expectations when they write?

Answered: 1 week ago

Question

★★★★★
Does everyone in your organization know the address where complaint letters should be sent?

Answered: 1 week ago

Question

★★★★★
Do your response letters specifi cally speak to the customers needs, or are they generic?

Answered: 1 week ago

Previous Question Next Question