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Accounting helllllp

  • 14-11-2008 8:46pm
    #1
    Elli-May
    Closed Accounts Posts: 162 ✭✭


    has anybody done the sample paper manufacturing account question(company name is storage ltd). I need help with adjustment 7. Even if you haven't got it done, any help would be really appreciated

    it says:

    at 1/1/95 there were 590 filing cabinets in production. During the year, work commenced on 9770 cabinets and 620 are still in production at 31/12/95. Work was halted on 290 cabinets which were then sold as scrap. The remaining cabinets were transferred to finished goods stock.

    The company is a manufacturer of metal filing cabinets and I have to do the 95 accounts. I just don't know where to get any money figures for this adjustment from


Comments

  • #2
    yay_for_summer
    Closed Accounts Posts: 86 ✭✭yay_for_summer


    They should give you the selling prices for a filing cabinet at the start and end of the year?

    cabinets made during the year = opening stock + stock produced - closing stock - scrap

    I think. It's been a while. They should definitely give you some money figures though for stocks of work in progress.


  • #3
    Elli-May
    Closed Accounts Posts: 162 ✭✭Elli-May


    they give you opening stock and closing stock for raw materials, work in progress and finished goods.

    what exactly should I do?


  • #4
    banjopaul
    Registered Users, Registered Users 2 Posts: 931 ✭✭✭banjopaul


    these are not included in the accounts as there is no money associated with them, the adjustment is there because there is an extra question at the bottom of the page asking you to work something out in relation to them.


  • #5
    Elli-May
    Closed Accounts Posts: 162 ✭✭Elli-May


    banjopaul wrote: »
    these are not included in the accounts as there is no money associated with them, the adjustment is there because there is an extra question at the bottom of the page asking you to work something out in relation to them.

    cheeeeeeers, although should something not be done seeing as the 620-290 were tranferred to finished stock

    and brooke, yeah I wouldn't do it as an extra subject for a year unless you have an incredible teacher. Its a huge course


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