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

Question

1 Approved Answer

The WIP account given below relates to the activities of Jones Ltd for the month of April: Two jobs were completed with total costs of

image text in transcribed

The WIP account given below relates to the activities of Jones Ltd for the month of April: Two jobs were completed with total costs of $183,000 and $105,000 respectively. They were sold on account at a mark-up of 50% on cost. As a result of these transactions, the gross profit of Jones Ltd for the month ended April 30 is

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

Performance Auditing

Performance Auditing

Authors: Shrivastava A.

1st Edition

8131316254, 978-8131316252

More Books

Students also viewed these Accounting questions

Question

★★★★★
Assume that the export price of a Toyota Corolla from Osaka, Japan is 2,150,000. The exchange rate is 87.60/$. The forecast rate of inflation in the United States is 2.2% per year and is 0.0% per...

Answered: 1 week ago

Question

★★★★★
To shift from external regulation to internal accountability, an organization will require: a. an increase in the number of committees b. elimination of licensing requirements c. the commitment of...

Answered: 1 week ago

Question

★★★★★
2. It is common for young children to react to the birth of a sibling by regressing to earlier behaviors such as sucking their thumb again or wanting to feed from a bottle. Such behaviors exemplify...

Answered: 1 week ago

Question

★★★★★
Mary Losch operates a travel agency called Mary's Luxury Travel. She has five employees, all of whom are paid on a weekly basis. The travel agency uses a payroll register, individual employee...

Answered: 1 week ago

Question

★★★★★
The following procedures represent a basic guideline for handling cash: O a. All of the above O b. Separate handling and recordkeeping of cash O c. Make cash disbursements by cheque O d. Deposit cash...

Answered: 1 week ago

Question

★★★★★
The video and those on Capitol Hill criticize Dr. Oz's evaluation of select dietary supplements that he claims are _______. The video and those on Capitol Hill criticize Dr. Oz's evaluation of select...

Answered: 1 week ago

Question

★★★★★
Healthcare information technology has been promoted by researchers, the government, and others as increasing the quality of patient care. How is this assumption supported? Provide a list and a...

Answered: 1 week ago

Question

★★★★★
During 2 0 2 2 Maxwell purchased 1 0 0 bonds of Malinois Inc. at par for $ 9 0 0 , 0 0 0 . Maxwell purchases debt securities expecting to ear profits on short - term differences in price and holds...

Answered: 1 week ago

Question

★★★★★
What is the absolute difference in your total concentration of iodine in the CH2Cl2 phase, in mol/L, between your 'best two' determinations in Part 2 of the experiment? Use your own lab-obtained...

Answered: 1 week ago

Question

★★★★★
Develop a change management strategy Develop a change management strategy for the business. You can use an organisational template if you have one or you can use the Change Management Strategy...

Answered: 1 week ago

Question

★★★★★
Virginia Co . has a subsidiary in Hong Kong and in Thailand. Assume that the Hong Kong dollar ( HK$ ) is pegged at $ 0 . 1 2 per Hong Kong dollar and it will remain pegged. The Thai baht fluctuates...

Answered: 1 week ago

Question

★★★★★
Do you have experience with group conflict, as either a group member or leader? If so, how was this conflict handled? Did conflict strengthen or weaken the communication between group members?

Answered: 1 week ago

Question

★★★★★
IV. How should we market this new Web site? A. Discuss the focus of the marketing campaign: Whats the message? B. Brainstorm how to get the message out C. Distill list of ideas; assign roles

Answered: 1 week ago

Question

★★★★★
Consider the six steps to problem solving weve just discussed. If Susan, the leader of EcoCrew, had chosen a different leadership style, would this have affected how the problem-solving steps were...

Answered: 1 week ago

Previous Question Next Question