Question 1 Redcliff Ltd acquired the entire share capital of ABC Ltd for $18,000 cash on 31 December 20X4. The balance sheets of the two companies as at that date were as follows: Required: Prepare the consolidated balance sheet of Redcliff Ltd and its subsidiary as at 31 December 20X4. Question 2 Based on the […]

Task: For your main Discussion post, address the following questions/topics: Explain the differences between permanent and temporary accounts and identify which types of accounts must be closed at the end of a company’s fiscal year. Additionally, for a Moulding and Mill-working company, identify at least three permanent and at least three temporary accounts your business

Task: The Industry area identifies 32 industries that have specific items unique to them. These industries range from five different areas of Entertainment to Mining, Financial Services, Airlines, Agriculture, Franchisors, Software, Health Care Entities, and many more.  To complete this assignment, you will need to access the FASB Codification. (Note: A login and password are

Task: 1. If a check correctly written and paid by the bank for $645 is incorrectly recorded on the company’s books for $654, the appropriate treatment on the bank reconciliation would be to add $9 to the book’s balance. subtract $9 from the book’s balance. deduct $9 from the bank’s balance. deduct $645 from the

Assignment a.)Financial Analysis: Your analysis will include a calculation of the following ratios for 2018 and 2019 fiscal years: 1.)Profit Margin: Profit margin formula is quite easy to compute when one has two figures which are net profit and net sales. When net profit is divided by net sales, the ratio becomes net profit margin.

Assignment Answer three questions from this section 1. Specialist Designs Ltd has received an order from Elite Machines to produce 8,000 units of Xlesia, a newly designed component, to be delivered in eight weekly batches of 1,000 units for 8 weeks. Each batch involves direct labour working on machines for 80% of the time and

a) Describe the general purpose of the statement of comprehensive income. Inaddition, explain the terms income and expenses as defined by the ConceptualFramework for Financial Reportingb) Describe the general purpose of the statement of financial position. In addition,explain the terms asset, liability and equity as defined by the ConceptualFramework for Financial Reporting.c) Explain the accrual basis

OGL make four (4) products. Some of the cost data about the products from the previousyear is shown in the table below:SM-567 LG-321 JK-123 GJ-444Current Sales Price $80.00 $90.00 $100.00 $150.00Sales Revenue $300,000 $720,000 $530,000 $450,000Variable Expenses $204,000 $446,400 $318,000 $261,000Total fixed expenses amount to $600,000.Required1. Prepare a spreadsheet to determine the break even point in sales dollars for

Task: Purpose To assess the student’s mastery of the Accounting field of study. Action Items Write a 3-page paper on a current accounting topic of interest to you in a professional accounting or business journal.  Summarize your paper to cover the following sections: 1.Issue: Describe the issue/purpose of the paper 2.Rule/Principles:  What are the relevant

Assignment Bills of Exchange A bill of exchange is an unconditional order issued by an individual or business directing the recipient to pay a certain sum of money to a third party at a future date. This future date could be fixed or negotiable. A bill of exchange must be written, signed and dated. It‘s