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Thanks Mike.
Yes I am new to this site :). did not notice that this is ask a tutor question
On Q1, The premise is that the goods accountability and ownership transfer. That if the agreement between the client and the company, is that company owns unless otherwise fully paid, regardless of the actual physical location. I would say this is still own by company.
So I would say it will depend on what has agreed upon on contracts.I do agree that it is hard for auditors and companies to track though
Hello Nari,
I was curious with your question and has answered it as below. Hope you find this helpful. 🙂
Q1. This should still be counted under the total inventory on hand. But could be separated as a smaller subset account which refers to Inventory on customer hold. Your entry on accounting could be as follows. Initial entry could be as follows.
Accounts Receivable Dr DP- Total Sales
COH (DownPayment) Dr DP
Sales Cr Total SalesInventory available for Sale Cr XX
Inventory on Hold Dr XXQ2. Personal Housekeeper should not be part of any payroll. Unless the the ABC Company is a real estate – pension house renting facility or a hotel chain, where in Mr X’s Property is part of the Asset of the company. Then payment for the cleaning and housekeeping can be part of the payroll 🙂
Found some helpful sites. You are not the first person to do night shift and I am sure you would do just fine adjusting if you follow the suggestions on the links. Good luck 🙂
https://www.livestrong.com/article/124125-sleep-tips-night-shift/
https://sleepcenter.ucla.edu/body.cfm?id=54Thanks guys. This was truly inspiring. I have just registered and was looking at options if I would do tuition or just self-study. And this thread has made me decided to try out doing self-study.
