SI-Session 3 May

How are you guys keeping up with 1st year?

• Great

• Not good

• Horrific

• I will survive

What will the closing balance be of the flightlist Golf Balls?

(Rounded to nearest thousand)

• R39 000

• R78 000

• R38 000

• R79 000

What will the adjustment journal entry affect?

DR Inventory and CR ______

What will the insurance income amount be in the general journal?

• R11 400

• R14 100

• R10 100

• R10 000

What will my NRV write down amount to on the inventory returned?

• (2.4404*60000)

• (2.4404-0.912)*400000

• 0.912*400000

What will my allowance for settlement discount amount to in this specific journal entry?

• R0

• R15 750

• R157 500

• R1575

What is my cost of sales amount for the year?

• R1 711 854

• R1 574 546

• R1 628 934

• R1 914 089

What is my theoretical closing balance of inventory? (R)

Value of goods unharmed in the fire? (R)

How much will the insurance company payout according to average clause without taking in account damage goods sold?

• R250 000

• R206 973

• R254 949

• R307 949