An Archive of Impeccable Accounting Answers : Page - 10

Beacon Limited - Acquisition of Investment PropertyQuestion 1 (Marks: 20)Beacon Limited has approached you to provide accounting services to their company. On 1 July 2017 Beacon Limited acquired two Buildings. Building 12 South Road and Building 20 North Road. Building 12 South Road will be used as Beacon Limited’s head offices while Building 20 North Road has been purchased with the intention to lease out and earn rental income.The buil...

Statement of Financial Position and Income Statement Dr Cr £ £ 8% Debenture loan: repayable in 2026 2,000,000 Prepayment on building insurance 80,000 Bank account 267,000 Retained profits at 1 January 2020 2,058,000 Freehold land 2,000,000 Buildings: cost 8,000,000 Buil...

Course Code   :  ACCT601

Course Title   :  Managerial Accounting

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4/5 

Pros and Cons of Hiring a Partner vs EmployeeLast January, Abby started a new business named Abby’s Blinds, Curtains, & Dining Essentials, or ABC&DE for short. In her business, Abby, who has always loved arts and crafts, designs unique items which are eye-catching highlights around her customers’ homes. She started her business selling to friends and neighbours out of hergarage, and demand quickly spread to the point where ...

Task: Answer any FOUR questions from Section A. Question 1 Pudding Ltd has two group companies, Cream Ltd and Custard Ltd. The income statements for Pudding Ltd, Cream Ltd and Custard Ltd for the year ended 31 December 2019 are given as follows: Required:Prepare the consolidated income statement for Pudding Ltd for the year ended 31 December 2019, showing retained earnings brought forward, dividend expense and retained earnings carried forwa...

Consolidated Statements of Profit or Loss for the year ended 31st March 2020The following are the financial statements of Peacock plc, Sibson Ltd and Amax Ltd Peacock Sibson Amax £’000 £’000 £’000 Revenue 9,000 10,000 15,000 Cost of sales (3,900) (5,000) (8,000) Gross profit 5,100 5,000 7...

Course Code   :  MMPA512

Course Title   :  advanced management accounting

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Tactical vs Long-Term DecisionsThe main role of management accountants in an organisation is to provide some fact information to the managers and other teams who needs that to make the decisions. The decisions either can be the tactical decision, or it can be a long-term decision.Tactical decisions we can say as a resource commitment and quickly changed or reversed whereas the long-term decisions are those decisions which takes more strategy, ...

Costing and pricing analysisBoth tasks must be submitted by the 24th January 2022. The tasks are individual pieces of work based on your own research.The Shetland Wool Company is a small family-owned company that produces very high-quality hand knitted wool sweaters. It uses a relatively small number of casual employees who produce the garments in their own homes. These are then sold in small numbers to exclusive outlets. The current performan...

TaskDan and Deanna Strickland were vacationing in Brazil when they received a call from their daughter, Natasha Strickland, one of the owners of Metta Rest Spa (Metta), a flotation spa in Vancouver, British Columbia, Canada. The Stricklands had already invested almost CA$1.2 million in Natasha’s business when it opened in September 2014, and Natasha was in need of another $60,000 to keep the business afloat. The Stricklands sat down to...

Part 1•The submission must be in the specific format(s) as specified in the assignment brief instructions. •The assignment should be submitted in a MS Word© format, or equivalent. •The assignment has TWO parts. Please read both parts carefully. •Ideally, you should complete Part 1 before Week 7 and make sure you get formative feedback from your Assessor during teaching week 6 and 7. •It is also recommended...

Part 1 Description This assignment is about creating a poster to illustrate a supply chain for a specific product. This assignment has 3 components, and you need to work in groups Up to 3 members per group may work on an assignment. You may first discuss, and use WhatApp (if you like), plan and then do the assignment. The assignment has 3 components: Component A Look at the definition of a supply chain is in your reading, lecture slides ...

Elton, Janet and Alvin operate a wholesale business in Half Way Tree, St. Andrew, Jamaica. Their partnership agreement requires that profits and losses be shared in the ratio 3:2:1 respectively. Partners are to receive salaries as follows: Elton $600,000 per annum; Janet $450,000 per annum; and Alvin $350,000 per annum. The partnership agreement also stipulates that partners be paid 5% interests on their capitals and that interest on drawings ...

Course Code   :  ACCO1124

Course Title   :  financial accounting

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4/5 

Exam Instructions and RequirementsComplete all the tasks. This is an open-book individual test to do at home. Collaboration with others is not allowed and will be treated as an academic offence.  Use the Sage 50 Accounting software available on-campus or via the remote desktop see details on Moodle for access instructions.  We recommend saving backups and the required reports listed on the final page of this test into a specially cre...

Question : You are the information security manager (ISM) of a financial and savings organization (NCU Financial Savings Bank, or NCU-FSB) with a clientele base of 250,000 customers averaging 1.2 million transactions per week. The IT infrastructure consists of 10 servers for each of the three locations: five for local production and five for replication and redundancy. After a recent vulnerability assessment performed by an external firm, spec...

Course Code   :  ACC201

Course Title   :  Financial Accounting

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4/5 

Best Buy (BBY) Cost of Goods SoldDetermining Cost of Goods Sold For a recent year, Best Buy (BBY) reported sales of $39,528 million. Its gross profit was $9,191 million. What was the amount of Best Buy's cost of goods sold? (Enter answer in millions.) FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item were available for sale during the year:Beginning inventory 22 units at $41Sale 19 units at $57First purchase 3...

Course Code   :  C1393

Course Title   :  business management

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The Importance of Budgeting in Planning FunctionTask  250 words – 125 words per student Return to the discussion forum and read the answers of your classmates. Select two classmates and reply to their posts (on both their perspectives about budgeting as part of the planning function and the budgeting process). Responses should be short (between 50 and 100 words each) and constructive even if you do not agree. Consider asking a c...