P QUESTION EIGHT Mtoto Mary buys and sells on credit. She supplied the following information for the month
ended 31 May 2016.
2016
May 1 Trade receivables
31 Credit sales
Tshs
5,687,000,000
72,641,000,000
Receipts from credit customers 64,500,000,000
Credit notes issued to customers 8,242,000,000
Cash discounts allowed
1,894,000,000
800,000,000
The sales journal had been under-cast by Tshs. 86,000,000. A cheque received and banked on
300,000,000
8 May from John Bakery for Tshs.2,300,000,000 had been returned by the bank because of
Bad debts
Contra entry
insufficient funds.
EQUIRED
epare the sales ledger control account for the month ended 31 May 2016. Balance the
count at that date and bring the balance down on 1 June 2013.​

The following selected circumstances relate to pending lawsuits for erismus, inc. erismus’s fiscal year ends on december 31. financial statements are issued in march 2019. erismus prepares its financial statements according to u.s. gaap. required: indicate the amount erismus would record as an asset, liability, or not accrued in the following circumstances. 1. erismus is defending against a lawsuit. erismus's management believes the company has a slightly worse than 50/50 chance of eventually prevailing in court, and that if it loses, the judgment will be $1,000,000. 2. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages could fall anywhere in the range of $2,000,000 to $4,000,000, with any damage in that range equally likely. 3. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages will eventually be $5,000,000, with a present value of $3,500,000. 4. erismus is a plaintiff in a lawsuit. erismus's management believes it is probable that the company eventually will prevail in court, and that if it prevails, the judgment will be $1,000,000. 5. erismus is a plaintiff in a lawsuit. erismus’s management believes it is virtually certain that the company eventually will prevail in court, and that if it prevails, the judgment will be $500,000.

Croy inc. has the following projected sales for the next five months: month sales in units april 3,850 may 3,875 june 4,260 july 4,135 august 3,590 croy’s finished goods inventory policy is to have 60 percent of the next month’s sales on hand at the end of each month. direct material costs $2.50 per pound, and each unit requires 2 pounds. raw materials inventory policy is to have 50 percent of the next month’s production needs on hand at the end of each month. raw materials on hand at march 31 totaled 3,741 pounds. 1. determine budgeted production for april, may, and june. 2. determine the budgeted cost of materials purchased for april, may, and june. (round your answers to 2 decimal places.)

Describe how to write a main idea expressed as a bottom-line statement