financial accounting

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Financial Reporting and Analysis Case Study (1).pdf P. Gumede is the proprietor of PG Stores. He commenced trading on 01 March 2017. At the end of the second year of trading, his bookkeeper resigned unexpectedly and Mr Gumede found that the financial statements for the year ended 28 February 2019 were incomplete. He requires your assistance in completing them. The pre-adjustment trial balance, adjustments and additional information that were extracted from the accounting records as at 28 February 2019 are...
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Mean = -0.92809 This file contains independent observations on a random variable X. It is known that a2-1.4246. a. Test Ho : E(X) 1.6 against H1 : E(X)>1.6 using a significance level of 1%. In your answer, you should state the null and alternative hypotheses, the significance level, the PDF of the test statistic under the null hypothesis, the value of the test statistic, and your conclusion. b. Do you need to make any assumptions in order for your test...
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Mark’s Consulting experienced the following transactions for Year 1, its first year of operations, and Year 2. Assume that all transactions involve the receipt or payment of cash. Transactions for Year 1 Acquired $20,000 by issuing common stock. Received $35,000 for providing services to customers. Borrowed $25,000 cash from creditors. Paid expenses amounting to $22,000. Purchased land for $30,000 cash. Transactions for Year 2 Beginning account balances for Year 2 are: Cash $ 28,000 ...

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Question 1: Alameda Corporation has paid 60 consecutive quarterly cash dividends (15 years’ worth). The last six months have been a real cash drain on the company, however, as profit margins have been greatly narrowed by increasing competition.With a cash balance that is only enough to meet day-to-day operating needs, the president, Vince Ramsey, has decided that a stock dividend instead of a cash dividend should be declared. He tells Alameda’s financial vice-president, Janice Rahn, to issue a press release...
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Trial Balance as at 30 June 2019 Debit (RM) Credit (RM) Premise 244,600 Motor Vehicle 112,000 Furniture & Fittings 60,000 Office Equipment 3,800 Bank 27,360 Cash 4,140 Trade Receivables 22,250 Trade Payables 25,243 Fixed Deposit 6% 20,000 Stationeries 1,438 Salary 22,600 Bad Debt 1,000 Utilities Expenses 5,460 Insurance Expenses 8,000 Carriage Inward 2,465 Commission 3,450 Purchases 338,343 Sales 645,989 Inventory as at 1 July 2018 18,340 Capital 120,000 Loan 4% 36,000 Interest on Loan 2,880 Discount...
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Required informationSkip to question[The following information applies to the questions displayed below.] During the year, Trombley Incorporated has the following inventory transactions. DateTransactionNumberof UnitsUnitCostTotal CostJan.1Beginning inventory17$19$323Mar.4Purchase2218396Jun.9Purchase2717459Nov.11Purchase271540593$1,583 For the entire year, the company sells 70 units of inventory for $27 each.2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit.