Below is some information about Company TYY:
TYY offers a wholesale price for Product P of 650 per 100 quantity.
TYY offers regular customers a 35% trade discount.
On every 15th of the month, TYY offers a 15% cash discount on sales.
MPU wants to make a purchase from TTY for the first time, of900 Product Ps on the 15th of June. How much will MPU pay for this purchase?
Accounting standards are needed so that financial statements will fairly and consistently describe financial performance.
What are accounting standards an example of?
Accountant P debited wages with 1,000 instead of 1,500, but credited sales with 1,500 instead of 2,000.
Which of the following kind of bookkeeping mistakes is this?
Refer to the Exhibit.
John, an employee of Kelt Ltd, earns gross wages for a week of 425.76.
Income tax is deducted at a rate of 25% on all earnings in excess of 85.00 per week and he is also liable to pay National Insurance contributions of 9% of his total earnings. Employers national insurance contributions are at a rate of 10.5%.
What are the correct ledger entries in the accounts of Kelt Ltd?
The answer is:
In a cash flow statement, which one of the following would not be found under the section "cash flows from financing activities"?
