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QUESTION 5 The following summary data are from a performance report for Washington Accounting Services for May, during which 10,700 professional hours were worked. The ‘budget’ column reflects the company’s normal capacity of 10,000 professional hours per month. The managing partner is disappointed with the cost overruns. Required: What
QUESTION 4 M&M, is a medium size accounting practice offering numerous services to its clients. On average all these services are charged out at $500 per direct labour hour, whilst variable costs are consumed on a direct labour hour basis. The financial results for the latest year end are detailed below: Required: (a) What is the annual b
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QUESTION 3 Metal Dect Pty Ltd produces over 2 products. These two products are sold to the parent company. They estimate producing 15,000 units in total for June 2023. That is, Blue:- 5,000 units and White:- 10,000 units. The following estimates are available for Metal Dect for June 2023: The following information is available for Blue and t
QUESTION 2 Pete operates John Jones Pty Ltd, which is organised on a June year-end. Pete has come to you to provide input on how to treat certain items as John Jones Pty Ltd prepares its financial statements for the year ended 30 June 2023. Additional information: 1. Annual leave liability has been calculated at $6,000. This amount had not been re
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QUESTION 1 Refer to the 2023 annual report of Cortina Holding Limited only. See link Cortina-HoldingsLimited-AR2023.pdf (cortinawatch.com). As discussed in class, use group numbers not company. Required:- a) With reference to the extract from the financial statements, what is your assessment of the operating, investing and financing sections for
QUESTION 1 Refer to the 2023 annual report of Cortina Holding Limited only. See link Cortina-HoldingsLimited-AR2023.pdf (cortinawatch.com). As discussed in class, use group numbers not company. Required:- a) With reference to the extract from the financial statements, what is your assessment of the operating, investing and financing sections for
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Required: (a) Prepare an income statement for the year ended 31 December 2022, a statement of financial position at that date, and a statement of movements in equity note for 2022, all in good style, for the directors. (25 marks) (b) Accounting Policy is a set of accounting principles, measurement bases, conventions and rules that are used by a pa
Aims and objectives This course aims to bring you up to date with modern developments in macroeconomics and to help you analyze the macroeconomic issues of the day Learning outcomes At the end of the course having completed the essential reading and activities, you should be able to think about and give answers to key macroeconomic questions, for
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Question 1 Adams plc buys and sells handbags for cash. It buys them for £20 each and sells them for £35 each. During April, its first month of trading, the company bought 50 handbags and had 10 handbags remaining in inventory at the month's end. Ignoring any other expenses or payments, which of the following statements is true for April? Que
Assignment 1: 1. In an economy there are two goods, x and y, which are produced by capital and labour. One unit of labour can produce either 2 units of x or 1 unit of y (or any linear combination of them). One unit of capital can produce either 1 unit of x or 2 units of y (or any linear combination of them). There are 100 units of capital and 100
