Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. alpha limited commenced business on 1january 2022

Alpha limited commenced business on 1January 2022 with a single item of inventory costing 120,000....

90.2K

Verified Solution

Question

Accounting

Alpha limited commenced business on 1January 2022 with a single item of inventory costing 120,000. During the year it sold the item for 180,000 in cash. Total inflation was 10% but the item specific inflation was 12%. Calculate the profit on the basis of each concept of capital maintenance and demonstrate the impact on the Equity of the Company.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

You leave your house and run 6 miles due west followed by 4 5 miles...

Calculus
Q

How did the United States get entangled in the Vietnam war? Was there a turning point...

Psychology
Q

The typical Wnt pathway involves these components Arrows indicate activation indicates inhibition Wnt Frizzled receptor...

Biology
Q

Question 10 2 Evaluate 4m x for m 4 x 3

Basic Math
Q

Find an equation of the horizontal line through (2, -9).The equation is(Type your answer in...

Basic Math
Q

When using a flexible budgeting system, the computation for the variable overhead spending variance is...

Accounting
Q

Assume a merchandising companys estimated sales for January, February, and March...

Accounting
Q

please post full image, sometimes it only shows half the answer. thank you ...

Accounting
Q

Sheridan Company estimates that annual manufacturing overhead costs will be $552,000. Estimated annual operating activity...

Accounting
Q

The following costs are attributed to the Quilt Company: Purchase of raw materials (all direct)...

Accounting
Q

Nesmith Corporation's outstanding bonds have a $1,000 par value, a 8% semiannual coupon, 9 years...

Finance
Q

Todrick Company is a merchandiser that reported the following information based on 1,000 units sold:...

Accounting