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This question was created from Group case study- Accounting assignment.docx https://www.coursehero.com/file/41909246/Group-case-study-Accounting-assignmentdocx/

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Additional Information related to S.A Co:
Revenues are recorded @ FOB shipping point. It is the company practice to ship the goods at the
same day of the transaction.
On 24" December the owner of S.A company invested additional cash BHD 9,500 and withdraw
from the business supplies that worth BHD 700.
On 31" December the company received a notice that store rent will increase by 5% starting
from January 2020.
BISB Approved & paid 10 years loan which was requested by S.A Company, for BHD 23,000 on
25th December 2018.
On the 25" S.A company paid invoice no. 68 by cash.
28 December Ms. Sara Ali owner of S.A Company incurred travel expenses for business trip by
BHD 6,500 not paid yet.
S.A Co is renting a store from a third party. The periodic inventory system is used and FIFO
method of assigning costs to both inventory and cost of goods sold is adopted. S.A Co requested
an inventory count and received the following email. The inventory figure in November 2018
reflects the correct inventory valuation.
On 30th December the accountant noticed that November cash payment of BHD420 for account
payable was recorded as BHD 240.
Email
Date 30 November 2018
Dear S.A Co,
As per your request, please find below the inventory count as at 30th November 2018, 5:00 PM:
Item
Cost per Unit (BHD) | Number of Units
PCS-HP
320
12
PCS-DELL
375
PCS-LENOVO
280
9
PCS-TOSHIBA
125
20
Monitors - HP
120
13
Monitors - SAMSUNG
109
Printers - BROTHER
136
23
Printers- CANON
115
14
Best regards,
Stores Manager

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