If the Cheque was issued in nearby countries, presentation must be made within: Seventy days O Twenty days O Eight days One month
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- For the six months period ended October 31, 2017. CHRIST IS THE ANSWER, an importer and distributor of machine guns, had the following transactions in his records: There was an opening balance of 900 units which had a value of GH¢19,800.00 Bought Quantity Date Units Cost per unit GH¢ Мay 3 750 20.50 June 15 1,000 25.00 August 30 2,000 29.00 Sold Quantity Date Units Price per unit GH¢ July 5 1,250 32.00 September 18 1,750 35.00 October 27 1,500 37.00 From the information given above and using the Weighted Average method for pricing issues, you are required to: i. Show the stores ledger records including the closing stock balance and stock valuation. ii. Prepare the trading accounts for the period to show the gross profit for the method of pricing issues used in question i. iii. How is inventory valued?Give a detailed explanation of whether the following statements are true or false. • The buyer of an option has an obligation to purchase the underlying asset in the case of a call, or sell in the case of a put, which the seller of an option has the right to deliver in the case of a call, or take delivery in the case of a put. • Call-put parity implies that currency puts and calls written with exercise prices at the forward rate will have different values because, if the foreign interest rate exceeds the domestic rate, the forward rate is at a discount; therefore, the exchange rate is expected to depreciate, making the put more valuableQ1 Discuss the following casesa) On 25th August 2017, a cheque dated 01.09.2016 for Rs 5000 is presented and paid,reducing the balance in the account to Rs2000/. Two days later, a cheque dated 23.08.2016for Rs6000/ is presented but returned for the reason “Funds Insufficient” Discuss the legalposition of the banker in this case. 5b) By means of fall preference Rohit has obtain from Mohit a cheque crossed “notnegotiable” he took that cheque to a bank (other than drawee bank) which paid it. Mohit suesthe bank for conversion.1. Has Rohit committed any offence or irregularity? Under the negotiable instrument act.2. How will you decide the case?
- In which 2 situations might a transaction need to be excluded from bank feeds?(Select all that apply) A. If the downloaded transaction was already recorded and reconciled in QuickBooks Online B. If the bank downloads the same transaction more than once C. If te posting date and actual payment date don't match in the bank feed D. If the bank description doesn't match the payee nameThe Home Doctor received a shipment of hand tools with an invoice total of $800 (including shipping) and sales terms of 3/10 n/30. The invoice is dated June 2 and the shipping costs are $125. Calculate the payment of the invoice if it is paid on June 10. a) $779.75 b) $799.75 c) $779.00Jennifer has a small business mixing and selling essential oils. One product is a mixture of two oils, lavender and peppermint. She asked her assistant, Carmen, to check on two suppliers to determine the costs for her next batch. Carmen contacted the suppliers and got quotes from each for the order. She misplaced the number of ounces of each oil she needed to purchase. The information she has is: Supplier A: lavender: $5.80$5.80/ounce peppermint: $4.20$4.20/ounce Total cost: $128.40$128.40 Supplier B: lavender: $4.50$4.50/ounce peppermint: $5.00$5.00/ounce Total cost: $124$124 She decides to solve a system of equations to determine the number of ounces of lavender, LL and of peppermint, PP, she should order. What system of equations can Jennifer use to find LL and PP?
- Just what is meant by the term "electronic envelope"?Kamal Fate production manager of Kennesaw Manufacturing, finds his profit at $26,400 (as shown in the statement below) inadequate for expanding his business. The bank is insisting on an improved profit picture prior to approval of a loan for some new equipment Kamal would like to improve profit line to $36,400 so he can obtain the bank's approval for the loan Sales Cost of supply chan purchases Other production costs 240,000 163,200 Faxed costs Prof % of sales 100% 68% 10% 11% 11% 24,000 26,400 26,400 a) What percentage improvement is needed in a supply chain strategy for profit to improve to $36 400? What is the cost of material with a $36,400 profit? A decrease of in supply chain costs is required to yield a prott of $36,400, for a new cost of supply chain purchases of $ (Enter your response for the percentage decrease to one decimal place and enter your response for the new supply chain cost as a whole number) OSpecialty Toys, Inc., sells a variety of new and innovative children’s toys. Management learned that thepreholiday season is the best time to introduce a new toy, because many families use this time to look fornew ideas for December holiday gifts. When Specialty discovers a new toy with good market potential, itchooses an October market entry date.In order to get toys in its stores by October, Specialty places one-time orders with itsmanufacturers in June or July of each year. Demand for children’s toys can be highly volatile. If a newtoy catches on, a sense of shortage in the marketplace often increases the demand to high levels and largeprofits can be realized. However, new toys can also flop, leaving Specialty stuck with high levels ofinventory that must be sold at reduced prices. The most important question the company faces is decidinghow many units of a new toy should be purchased to meet anticipated sales demand. If too few arepurchased, sales will be lost; if too many are…
- Write short note on features of cheque.1.Nestle Pakistan Limited is Knownexample of. A)Merchandise B)Whole seller C)Manufacturing D)Service 2. is used to differentiate between tangible assets and inventories. A)The nature of the company's activity B)The moment in the accounting period when the asset is acquired C)The acquisition cost of the asset D)The physical substance of the asset Explain with correct optionDefine each of the following terms:g. Transactions balances; compensating balances; precautionary balances