Bundle: Corporate Financial Accounting, Loose-leaf Version, 14th + CengageNOWv2, 1 term Printed Access Card
14th Edition
ISBN: 9781337130691
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Chapter FS, Problem 2DQ
To determine
Expenses: The costs that are incurred to earn revenues in the process of operating activities of the business are referred to as expenses.
To distinguish: The classification of expense by nature and expense by function
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Give this question financial accounting
1.3
1.2.5
za
When using a computerised accounting system, the paper work will
be reduced in the organisation.
Calculate the omitting figures: Enter only the answer next to the
question number (1.3.1-1.3.5) in the NOTE. Round off to TWO decimals.
VAT report of Comfy shoes as at 30 April 2021
OUTPUT TAX
INPUT TAX
NETT TAX
Tax
Gross
Tax(15%)
Gross
(15%)
Standard
75 614,04
1.3.1
Capital
1.3.2
9 893,36
94 924,94
Tax
(15%)
1.3.3
Gross
484 782,70
75 849,08 -9 893,36
-75 849,08
Bad
Debts
TOTAL
1.3.4
4 400,00 1 922,27
14 737,42 -1 348,36
1.3.5
(5 x 2)
(10
Chapter FS Solutions
Bundle: Corporate Financial Accounting, Loose-leaf Version, 14th + CengageNOWv2, 1 term Printed Access Card
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- Nonearrow_forwardWhat was her capital gains yield? General accountingarrow_forwardL.L. Bean operates two factories that produce its popular Bean boots (also known as "duck boots") in its home state of Maine. Since L.L. Bean prides itself on manufacturing its boots in Maine and not outsourcing, backorders for its boots can be high. In 2014, L.L. Bean sold about 450,000 pairs of the boots. At one point during 2014, it had a backorder level of about 100,000 pairs of boots. L.L. Bean can manufacture about 2,200 pairs of its duck boots each day with its factories running 24/7. In 2015, L.L. Bean expects to sell more than 500,000 pairs of its duck boots. As of late November 2015, the backorder quantity for Bean Boots was estimated to be about 50,000 pairs. Question:arrow_forward
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