QUESTION:1 Draw a trial balance of john ltd and post the following items; ₦ Purchase 10,000
Capital 30,000
Land and building 6,500
Machinery 4,200
Wages 300
Sales 8,000
Stock 4,000
Insurance 600
Drawings 2,000
Rent receivable 4,000
Rent 3,500
Bill payable 2,100
Bill receivable 1,400
Profit Bought Forward ¬¬¬ 1,500
Equipment 13,000
Cash 4000
Bank 8,500
Creditors 10,000
Debtors 6,800
Carriage outward 300
Return inward 400
Return outward 300
Loan 5,000
Interest on loan 600
Bank overdraft 1,000

The sec has historically raised questions regarding the independence of firms that derive a significant portion of their total revenues from one audit client or group of clients because the sec staff believes this situation causes cpa firms to

The purchasing agent for a company that assembles and sells air-conditioning equipment in a latin american country noted that the cost of compressors has increased significantly each time they have been reordered. the company uses an eoq model to determine order size. what are the implications of this price escalation with respect to order size? what factors other than price must be taken into consideration?

Faldo corp sells on terms that allow customers 45 days to pay for merchandise. its sales last year were $325,000, and its year-end receivables were $60,000. if its dso is less than the 45-day credit period, then customers are paying on time. otherwise, they are paying late. by how much are customers paying early or late? base your answer on this equation: dso - credit period = days early or late, and use a 365-day year when calculating the dso. a positive answer indicates late payments, while a negative answer indicates early payments. a. 21.27b. 22.38c. 23.50d. 24.68e. 25.91b