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FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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4G l. A moodle1.du.edu.om 3 من 4 Question 3: KLM Co. had the following information in 2020: 32000 15000 21000 55000 29000 24000 17000 12000 15000 50000 37800 18500 9500 Issuance of common stock Payment of dividends Bank loan repaid Purchase of equipment Issuance of bonds payable Sale of long Term Assets Decrease in Accounts receivable Purchase of short term investment Increase of prepaid expenses Purchase of land Net Profit Depreciation Amortization Prepare cash flows statement, use indirect method for operating cash flow. Question 4: XYZ Co. had the following information in 2020: Sales COGS 150000 80000 Operating expenses (excluding depreciation) Interest expense 32000 8000 Тахes 3000 Increase in Accounts receivable Decrease in inventory Increase in Accounts payable Decrease in other payables Increase in interest payable Decrease in tax payable 7000 4000 5000 3500 2000 1000 Prepare operating cash flows using direct method. Question 5: The Information below is taken from production department of Salalah Company for April: The number of units produced is 10000. All amounts are in OMR. Total Costs Variable Cost Fixed Cost Direct material cost Total labor cost Manufacturing Overhead 500000 400000 100000 90000 30000 Calculate: A. Find the missing information in the above table. Some values may not be applicable, explain. B. Calculate cost per unit C. Describe the production costs in the equation form Y =f+ vX. D. Assume Salalah intends to produce 10000 units next month. Calculate total production costs for the month
Transcribed Image Text:4G l. A moodle1.du.edu.om 3 من 4 Question 3: KLM Co. had the following information in 2020: 32000 15000 21000 55000 29000 24000 17000 12000 15000 50000 37800 18500 9500 Issuance of common stock Payment of dividends Bank loan repaid Purchase of equipment Issuance of bonds payable Sale of long Term Assets Decrease in Accounts receivable Purchase of short term investment Increase of prepaid expenses Purchase of land Net Profit Depreciation Amortization Prepare cash flows statement, use indirect method for operating cash flow. Question 4: XYZ Co. had the following information in 2020: Sales COGS 150000 80000 Operating expenses (excluding depreciation) Interest expense 32000 8000 Тахes 3000 Increase in Accounts receivable Decrease in inventory Increase in Accounts payable Decrease in other payables Increase in interest payable Decrease in tax payable 7000 4000 5000 3500 2000 1000 Prepare operating cash flows using direct method. Question 5: The Information below is taken from production department of Salalah Company for April: The number of units produced is 10000. All amounts are in OMR. Total Costs Variable Cost Fixed Cost Direct material cost Total labor cost Manufacturing Overhead 500000 400000 100000 90000 30000 Calculate: A. Find the missing information in the above table. Some values may not be applicable, explain. B. Calculate cost per unit C. Describe the production costs in the equation form Y =f+ vX. D. Assume Salalah intends to produce 10000 units next month. Calculate total production costs for the month
4G l. A moodle1.du.edu.om ur ue assignmervprouuct TaS veer WIervprouuceu Tor me uy any ourer personexcepr O where collaboration has been authorised by the instructor concerned. am لانجوي مزج لم اذه بجاولا دق هدعا بل اطرخادع انا ناك اذه بجاولا كرتشم تقاروجب انسا ر قملا n aware that this work will be reproduced and submitted to plagiarism detection software programs for the purpose of detecting possible plagiarism (which may retain a copy on its database for future plagiarism checking). کردا ا اذه لمعلا فوس عضخي مصحظل ضارغا دبدحت عبسن باتلا نفرسلاو غبطعلا نا تدجول Student's signature: Note1: An Instructor has the right to not mark this assignment if the above declaration has not been signed. :Note2 نطعلام: سر دمل ر ر قملا فحلا يف مدع حیحصت اذه بجاولا لنامل مت ي عيقوت ثار ارقا انقباسلا Original for the Instructor and one copy with signature the Instructor for the student. تخستل فيلصلا طعت سر نعل ر قصلا قخنو قيناث إنم لمع بلاطلا عم عی قوت سردملا بطعت بلاطل Question 1: Write an essay covering the following points; Characteristics of management accounting - The role of management accountant in the company How can management accounting benefit to the company? The essay may be 2-4 pages. Question 2: ABC Company has the following information for the period ended 31 December 2020. Direct material purchased OMR 360000 OMR 200000 OMR 29000 Direct labor Factory maintenance Power and heat-factory Direct Expenses Indirect factory labor Freight In Depreciation - Factory Advertisement expenses Inventories, 1 January 2020: Direct Material Work-in-process OMR 18500 15 % of the direct labor cost OMR 21000 OMR 7000 OMR 22300 OMR 8500 OMR 41700 OMR 50000 Finished goods OMR 75000 Purchase returms of direct materials OMR 7400 Depreciation administrative OMR 13800 Inventories, 31 December 2020: Material OMR 19000 Work-in process OMR 32000 Finished goods 3000 Units Total Production Units 35000 units Finished goods are valued at the current unit manufacturing cost. You are required to prepare: I. Manufacturing Statement II. Calculate unit production cost. Question 3: KLM Co. had the following information in 2020: Issuance of common stock Payment of dividends Bank loan repaid Purchase of equipment Issuance of bonds Sale of long Term Assets 32000 15000 21000 55000 24000
Transcribed Image Text:4G l. A moodle1.du.edu.om ur ue assignmervprouuct TaS veer WIervprouuceu Tor me uy any ourer personexcepr O where collaboration has been authorised by the instructor concerned. am لانجوي مزج لم اذه بجاولا دق هدعا بل اطرخادع انا ناك اذه بجاولا كرتشم تقاروجب انسا ر قملا n aware that this work will be reproduced and submitted to plagiarism detection software programs for the purpose of detecting possible plagiarism (which may retain a copy on its database for future plagiarism checking). کردا ا اذه لمعلا فوس عضخي مصحظل ضارغا دبدحت عبسن باتلا نفرسلاو غبطعلا نا تدجول Student's signature: Note1: An Instructor has the right to not mark this assignment if the above declaration has not been signed. :Note2 نطعلام: سر دمل ر ر قملا فحلا يف مدع حیحصت اذه بجاولا لنامل مت ي عيقوت ثار ارقا انقباسلا Original for the Instructor and one copy with signature the Instructor for the student. تخستل فيلصلا طعت سر نعل ر قصلا قخنو قيناث إنم لمع بلاطلا عم عی قوت سردملا بطعت بلاطل Question 1: Write an essay covering the following points; Characteristics of management accounting - The role of management accountant in the company How can management accounting benefit to the company? The essay may be 2-4 pages. Question 2: ABC Company has the following information for the period ended 31 December 2020. Direct material purchased OMR 360000 OMR 200000 OMR 29000 Direct labor Factory maintenance Power and heat-factory Direct Expenses Indirect factory labor Freight In Depreciation - Factory Advertisement expenses Inventories, 1 January 2020: Direct Material Work-in-process OMR 18500 15 % of the direct labor cost OMR 21000 OMR 7000 OMR 22300 OMR 8500 OMR 41700 OMR 50000 Finished goods OMR 75000 Purchase returms of direct materials OMR 7400 Depreciation administrative OMR 13800 Inventories, 31 December 2020: Material OMR 19000 Work-in process OMR 32000 Finished goods 3000 Units Total Production Units 35000 units Finished goods are valued at the current unit manufacturing cost. You are required to prepare: I. Manufacturing Statement II. Calculate unit production cost. Question 3: KLM Co. had the following information in 2020: Issuance of common stock Payment of dividends Bank loan repaid Purchase of equipment Issuance of bonds Sale of long Term Assets 32000 15000 21000 55000 24000
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