Homework Answers
| Income Statement for the period ended 31/12/2012 | ||||||
| Particulars | Amount | Particulars | Amount | |||
| Cost of sales | $ 8,000.00 | Sales | $ 12,000.00 | |||
| Advertisement cost | $ 1,500.00 | Interest Received | $ 650.00 | |||
| Delivery Expense | $ 850.00 | |||||
| Office Wages | $ 3,000.00 | |||||
| Interest on overdraft | $ 200.00 | |||||
| Rent Expense | $ 900.00 | Net Loss | $ 1,800.00 | |||
| $ 14,450.00 | $ 14,450.00 | |||||
| Balance Sheet for the period ended 31/12/2012 | ||||||
| Liabilities | Amount | Assets | Amount | |||
| Capital | $ 30,350.00 | Shop Fittings | $ 1,000.00 | |||
| Less:Drawings | $ (500.00) | Land And Building | $ 35,000.00 | |||
| Less:Net Loss | $ (1,800.00) | $ 28,050.00 | ||||
| Stock | $ 4,700.00 | |||||
| Mortgage | $ 11,700.00 | Debtors | $ 1,450.00 | |||
| Bank overdraft | $ 2,000.00 | Cash float | $ 100.00 | |||
| Creditors | $ 500.00 | |||||
| $ 42,250.00 | $ 42,250.00 | |||||
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Sales Cost of sales Interest received Advertising costs Delivery epenses Office wages Interest on overdraft 12...
Sales Cost of sales Interest received Advertising costs Delivery epenses Office wages Interest on overdraft 12...
Sales Cost of sales Interest received Advertising costs Delivery epenses Office wages Interest on overdraft 12 000 8 000 650 1 500 850 3 000 200 900 30350 500 4 700 2 000 100 1 450 500 1 000 35 000 11 700 financial statements(balance Rent rpensa sheet,cash flow,incomeaa statement,statement of Stoei Capital Bank Overdraft Cash float Debtors (Accounts Receivable) Creditors (accounts Payable Shop Fittings Land and Buildings Mortgage changes in equty REQUIRED Prepare the Financial Statements for the period...
Sales Cost of sales Interest received Advertising costs Delivery expenses Office wages Interest on overdraft Rent...
Sales Cost of sales Interest received Advertising costs Delivery expenses Office wages Interest on overdraft Rent expense Capital Drawings Stock Bank Overdraft Cash float 12 000 8 000 650 1500 850 3 000 200 900 30350 500 4 700 2 000 100 1 450 500 1000 35 000 11 700 Debtors (Accounts Creditors (accounts Payable) Shop Fittings Land and Buildings Mortgage Recelvable) REQUIRED Financial statement(cash flow) Prepare the Financial Statements for the period ended 31
Sales Cost of sales Interest received Advertising costs Delivery expenses Office wages Interest on overdraft Rent...
Sales Cost of sales Interest received Advertising costs Delivery expenses Office wages Interest on overdraft Rent expense Capital Drawings Stock Bank Overdraft Cash float 12 000 8 000 650 1500 850 3 000 200 900 30350 500 4 700 2 000 100 1 450 500 1000 35 000 11 700 Debtors (Accounts Creditors (accounts Payable) Shop Fittings Land and Buildings Mortgage Recelvable) REQUIRED Financial statement(cash flow) Prepare the Financial Statements for the period ended 31
Sales Cost of sales Interest received Advertising costs Delivery erpenses Office wages Interest on overdraft Rent...
Sales Cost of sales Interest received Advertising costs Delivery erpenses Office wages Interest on overdraft Rent expense Capital Drawings Stock Bank Overdraft Cash float Debtors (Accounts Receivable)1450 Creditors (accounts Payable) Shop Fittings Land and Buildings Mortgage 12 000 8 000 650 1 500 850 3 000 200 900 30350 500 4 700 2 000 100 500 1 000 35 000 11 700 REQUIRED Prepare the Financial Statements for the period ended 31 December 2012
Sales Cost of sales Interest received Advertising costs Delivery erpenses Office wages Interest on overdraft Rent...
Sales Cost of sales Interest received Advertising costs Delivery erpenses Office wages Interest on overdraft Rent expense Capital Drawings Stock Bank Overdraft Cash float Debtors (Accounts Receivable) Creditors(accounts Payable) Shop Fitings Land and Buildings Mortgage 12 000 8 000 650 1500 850 3 000 200 900 30350 500 4 700 2 000 100 1450 500 financial sheet(cash flow,statement of changes in equity) 1 000 35 000 11 700 REQUIRED Prepare the Financial Statements for the period ended 31 December 2012
2 000 Cost of sales Interest recelved Advertising cos Delivery expenses Office wages Interest on overdra...
2 000 Cost of sales Interest recelved Advertising cos Delivery expenses Office wages Interest on overdra Rent expense Capital 550 1 500 900 30350 500 4700 financial sheet(cash flow,statement of changes in equity) Stock Bank Overdrat Cash foat Debtors (Accounts Racelvable Creditors (accounts Payable Shop Fittings Land and Buildings Mortgage 100 1 450 1 000 35 000 11 700 REQUIRED Prepare the Financial Statements for the period ended 31 December 2012
It Financial statements (40 points) From the following information of the accountira book of Hope Dunn,...
It Financial statements (40 points) From the following information of the accountira book of Hope Dunn, draw up (1) an Income statement for the year pode December 2019 in) - 20 points (2) Prepare a Balance Sheet as at 31 December 2019 in €) -20 points (3) Before preparation of financial statement please take into account additional information that is given below 400.000 91.000 255,000 35.000 51.000 16.000 22 000 3.500 19.000 800 4,070 15 000 2,600 Premises Purchases Sales...
financial accounting
Financial Reporting and Analysis Case Study (1).pdf
P. Gumede is the proprietor of PG Stores. He commenced trading on 01 March 2017. At the end of the second year of trading, his bookkeeper resigned unexpectedly and Mr Gumede found that the financial statements for the year ended 28 February 2019 were incomplete.
He requires your assistance in completing them. The pre-adjustment trial balance, adjustments and additional information that were extracted from the accounting records as at 28 February 2019 are...
The following list of Balances was extracted from the books of C. Radio, general merchant, at...
The following list of Balances was extracted from the books of C. Radio, general merchant, at 31 December 2002. 6 500 1 000 10 000 30 800 100 Advertising Bad debts First National Bank Capital (balance at 1 January 2002) Cash Creditors Customs duty on purchase Debtors Discount Drawings 8 500 8 000 23 150 240 2 650 380 3 500 Fire and motor vehicle insurance Furniture and fittings at cost Accumulated depreciation on furniture and fittings at 1 January...
The following trial balance was extracted from the books of P Brown on 31 December 2017...
The following trial balance was extracted from the books of P Brown on 31 December 2017 Debit Credit Capital 1 050 000 Inventory 1/01/2017 359 625 Net Purchases 3 246 339 Net Sales 5 545 050 Import duties on purchases 859 161 Discount allowed and received 174 858 60 114 Salaries 575 142 Accounts receivable 643 125 Accounts payable 690 807 Bad debts written off 68 250 Allowance...
Sales Cost of sales Interest received Advertising costs Delivery epenses Office wages Interest on overdraft 12 000 8 000 650 1 500 850 3 000 200 900 30350 500 4 700 2 000 100 1 450 500 1 000 35 000 11 700 financial statements(balance Rent rpensa sheet,cash flow,incomeaa statement,statement of Stoei Capital Bank Overdraft Cash float Debtors (Accounts Receivable) Creditors (accounts Payable Shop Fittings Land and Buildings Mortgage changes in equty REQUIRED Prepare the Financial Statements for the period...
Sales Cost of sales Interest received Advertising costs Delivery expenses Office wages Interest on overdraft Rent expense Capital Drawings Stock Bank Overdraft Cash float 12 000 8 000 650 1500 850 3 000 200 900 30350 500 4 700 2 000 100 1 450 500 1000 35 000 11 700 Debtors (Accounts Creditors (accounts Payable) Shop Fittings Land and Buildings Mortgage Recelvable) REQUIRED Financial statement(cash flow) Prepare the Financial Statements for the period ended 31
Sales Cost of sales Interest received Advertising costs Delivery expenses Office wages Interest on overdraft Rent expense Capital Drawings Stock Bank Overdraft Cash float 12 000 8 000 650 1500 850 3 000 200 900 30350 500 4 700 2 000 100 1 450 500 1000 35 000 11 700 Debtors (Accounts Creditors (accounts Payable) Shop Fittings Land and Buildings Mortgage Recelvable) REQUIRED Financial statement(cash flow) Prepare the Financial Statements for the period ended 31
Sales Cost of sales Interest received Advertising costs Delivery erpenses Office wages Interest on overdraft Rent expense Capital Drawings Stock Bank Overdraft Cash float Debtors (Accounts Receivable)1450 Creditors (accounts Payable) Shop Fittings Land and Buildings Mortgage 12 000 8 000 650 1 500 850 3 000 200 900 30350 500 4 700 2 000 100 500 1 000 35 000 11 700 REQUIRED Prepare the Financial Statements for the period ended 31 December 2012
Sales Cost of sales Interest received Advertising costs Delivery erpenses Office wages Interest on overdraft Rent expense Capital Drawings Stock Bank Overdraft Cash float Debtors (Accounts Receivable) Creditors(accounts Payable) Shop Fitings Land and Buildings Mortgage 12 000 8 000 650 1500 850 3 000 200 900 30350 500 4 700 2 000 100 1450 500 financial sheet(cash flow,statement of changes in equity) 1 000 35 000 11 700 REQUIRED Prepare the Financial Statements for the period ended 31 December 2012
2 000 Cost of sales Interest recelved Advertising cos Delivery expenses Office wages Interest on overdra Rent expense Capital 550 1 500 900 30350 500 4700 financial sheet(cash flow,statement of changes in equity) Stock Bank Overdrat Cash foat Debtors (Accounts Racelvable Creditors (accounts Payable Shop Fittings Land and Buildings Mortgage 100 1 450 1 000 35 000 11 700 REQUIRED Prepare the Financial Statements for the period ended 31 December 2012
It Financial statements (40 points) From the following information of the accountira book of Hope Dunn, draw up (1) an Income statement for the year pode December 2019 in) - 20 points (2) Prepare a Balance Sheet as at 31 December 2019 in €) -20 points (3) Before preparation of financial statement please take into account additional information that is given below 400.000 91.000 255,000 35.000 51.000 16.000 22 000 3.500 19.000 800 4,070 15 000 2,600 Premises Purchases Sales...
The following list of Balances was extracted from the books of C. Radio, general merchant, at 31 December 2002. 6 500 1 000 10 000 30 800 100 Advertising Bad debts First National Bank Capital (balance at 1 January 2002) Cash Creditors Customs duty on purchase Debtors Discount Drawings 8 500 8 000 23 150 240 2 650 380 3 500 Fire and motor vehicle insurance Furniture and fittings at cost Accumulated depreciation on furniture and fittings at 1 January...
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