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Then in this particular exercise we were provided by the wrong trend figure? As our equation is Y=T*S so in order to get seasonally adjusted figure we need Y/S, right?
Sorry for bothering you 🙁Hello, Sir!
Can I ask one question? Why we do not take as seasonally adjusted figure our trend 4300? ( as far as I understand we take the moving averages in order to get a figure that we would have if there wasn’t seasonality) thanks in advance!Am, yeah I watched the lectures and read the textbook (BPP) and did the exercises. I understand the difference between marginal and absorption costing. I was just wondering about these excess hours, because for example in my text book they had an example where they showed the difference between marginal and absorption costing and at the same time the overheads in that example were undervalued. So they adjusted the undervalued overheads and then showed that the difference between marginal and absorption costing is due to the difference in inventory levels.
That’s why I was curious whether here they did the same ( accounted the overheads for that excess 20,000 hours before arriving to the profit of 464,000$ using absorption method). I hope you understand my point. Thank you for your answer!Sir, could you please explain this question again. I mean, I can’t understand what happens with this difference of 20,000 hours? Because we had to have 80,000 hours incurred (20,000*4) but we incurred 100,000. Did we make any adjustments for this before we arrived at a profit of 464,000$? I am just interested how would we account for this difference.
Sorry for bothering you! 🙁Yes I have watched the lectures. That means that for sole traders and partnerships the overal accounting profit of business will never equal to the overal tax profit of business? And that private part of the cost it is just thrown away and is not used anywhere?
I just have one question regarding the private use of a car by the sole trader. What happens to the private part of the cost? In capital allowances we only include the business part of the cost, but still we also have the private part.. And does it mean that overall (accounting depreciation) won’t be equal to the capital allowance regarding the asset that was partially used for business and privately?
A suspense acc shows a credit balance of 130. Which of the following could be due to?
A: ommiting a sale of 130 from the sales ledger
B: recording a purchase of 130 twice in the purchases acc
C: failing to write off a bad debt of 130
D: recording an electricity bill paid of 65 by debiting the bank acc and crediting the electricity accExcuse me, sir but I have a question about the same problem. I thought the answer should be A. But they gave the right answer B. I am wondering why it is not A.
Hi, Sir
Considering this problem.. I couldn’t understand the question itself. Like, if we have an opening credit balance on Sales tax account it means that we owe some amount to the government, and when we have a closing debit balance on sales tax account it means that government owes us money, right?
But here in this problem we have a closing debit balance which means that government owes us money? Doesn’t it means that we shouldn’t pay anything to the tax authorities?
On May 7, 2014
This is the question: The following info relates to Eva Co’s sales tax for the month of March 20X3.
Sales (including sales tax). $109, 250
Purchases (net of sales tax?). $64,000
Sales tax is charged at a flat rate of 15%. Eva Co’s sales tax account showed an opening credit balance of $4,540 at the beginning of the month and a closing debit balance of $2,720 at the end of the month.
What was the total sales tax pd to regulatory authorities during the month of March, 20X3?
A. $6,470.00
B. $11,910.00
C. $14,047.50
D. $13,162.17