please give me full solution of this question
Saleem | ||
Income Statement for Dec 31, 2012 | ||
sales revenue | 240000 | |
less:sales return | -900 | |
net sales revenue | 239100 | |
commission income | 2500 | |
total revenue | 241600 | |
cost of goods sold | -25100 | |
gross profit | 216500 | |
less:operating expenses: | ||
salaries expense | 8000 | |
advertising expenses | 3000 | |
miscellaneous expenses | 2000 | |
office supplies expenses | 1000 | |
carriage outward | 200 | |
depreciation | 2656 | |
total operating expenses | -16856 | |
EBIT | 199644 | |
less:interest expenses | -500 | |
add:interest income | 400 | |
EBT | 199544 | |
less:tax (20%) | -39909 | |
EAT | 159635 |
Saleem | ||||
Balance Sheet as of Dec 31, 2012 | ||||
Liabilities | Amount | Assets | Amount | |
current liabilities | current assets | |||
a/c payable | 5500 | cash | 105000 | |
bank over draft | 7500 | a/c receivable | 20000 | |
notes payable | 5000 | invenotry | 7000 | |
tax payable | 39909 | prepaid rent | 6000 | |
commission unearned | 800 | total current assets | 138000 | |
total current liabilities | 58709 | equipment | 132800 | |
long term loan | 10000 | dep | -2656 | 130144 |
total liabilities | 68709 | |||
stockholders equity | ||||
capital | 39800 | |||
profit | 159635 | |||
total liabilities and stockholders equity | 268144 | total assets | 268144 |
please give me full solution of this question Q No.1 FINANCE FOR MANAGERS Q No.1 Following...
please give me a full solution of this question No.2 Saleem provided following Trial Balance on December 31, 2012 and adjustment data DEBIT 45,000 175.000 325.000 12.500 SI 6000 ITTILE OF ACCOUNT KASH AC RECEIVABLE OFFICE EQUIPMENT MARKETING EXPENSE PREAPID ADVERTISING OTHER EXPENSE OFFICE SUPPLIES EXPENSE INTEREST EXPENSE MDS INVENTORY BEGINNING PURCHASES TRANSPORTATION IN SALES RETURN SALARIES EXPENSE SALES REVENUE PURCHASES RETURN PURCHASES DISCOUNT INTEREST INCOME A/C PAYABLE CAPITAL-SALEEM SHORT-TERM LOAN BILL PAYABLE LONG-TERM LOAN TOTAL 3.500 16 27.500 275.000...
please give me a full solution of this question CREDIT 110,350 54600 8000 40,500 650 1200 183,200 Q No.3 AUSTIN SOUND SEREO CENTER, INC. TRIAL BALANCE DECEMBER 31,2012 TITLE OF ACCOUNT DEBIT Cash Account receivable Note receivable Interest receivable Inventory-opening Supplies Prepaid insurance Furniture and Fixture Accumulated depreciation-furniture Account payable Note payable (long-term) Capital-Frank Sales revenue Sales discount Sales return and allowance Interest revenue Purchases Purchases discount Purchases return and allowances Freight in Rent expense TOTAL 2400 47,000 12,600 100,000...
please answer question 4A-7 1) make t charts 4A-23 FOLYMPIA Corporation as of November 4A-7. The unadjusted trial balance of OLYMPIA Corporation 30, 20x1, is shown on the next page. Data needed for the e adjustments is as follows: Adjustment information: a. Remaining prepaid rent on November 30 is $1,600. b. Supplies on hand at the end of the month were $200. c. Monthly depreciation was $800. d. Additional accrued salary expense at the end of the month was $6,000....
This is BBM206/05 Business Accounting II subject Need 1 full-page answer, please Question 4 The following balances were extracted from the books of Sawadee Sdn Bhd for the year ended 31 December 2019. Retained profit 31 December 2018 Inventory 1 January 2019 Purchases Sales Return inwards Return outwards Carriage inwards Discount received for purchases Directors' remuneration Distribution expenses Administrative expenses Rental income (Commercial shop lot) Debenture interest Interest received on fixed deposit Commission receivable Interim ordinary shares dividends Motor vehicles...
Hi For Q.110, I did not understand why "Loss on disposal of equipment $18,000" (being an extraordinary item) is included in the calculation because of the question " Income before extraordinary item"? For Q.112,113 Please explain the principle of total infrequent net gains losses that not considered extraordinary. 110. Logan Corp.'s trial balance of income statement accounts for the year ended December 31, 2014 included the following: Debit Credit Sales revenue $280,000 Cost of goods sold $150,000 Administrative...
Question 1 Question 2 Question 3 Question 4 Question 5 Which of the following pairs of accounts could not appear in the same adjusting entry? Salaries Payable and Salaries Expense Interest Income and Interest Expense Fees Earned and Unearned Fees Rent Expense and Prepaid Rent On which financial statement will Income Summary be shown? no financial statement retained earnings statement balance sheet х income statement For the Year Ended December 31 Income Statement Balance Sheet Adjusted Trial Balance Account Title...
help please Winter 2020 Budget Planning Following is selected information relating to the operations of Pocketchange Company, a tile distributor September 30, 2020 - Trial Balance information $ ................................. Accounts receivable..... ......... Inventory Plant and equipment, net of Acc. Dep. Accounts payable.............................. Capital stock......................... Retained earnings.... . ....... 8.000 24.800 39.600 428,200 24,050 150,000 326,550 500,600 $ 500,600 $ a. Actual and budgeted sales data: September (actual)................... October.... November................................ December................... .. January... BERBEDRE 62.000 66,000 80,000 94,000 48.000 b. Gross...
Question #1 Question #2 Please answer both questions in full if you know how to do it! Please allign the answers how the questions are so it's not confusing for me to figute out where it goes! I will give thumbs up if the answers are correct! If you have trouble reading any of the images please let me know so that I can post another picute! Thank you Х i Data Table ou tell? Smith Sign Company Adjusted Trial...
Year 1 Transactions for Adomain Date January 1 Purchased a patent for $32,000 in cash March 15 Paid $18.500 in cash for long-term assets April 1 Prepaid $36,000 for rent for the next 12 months and recorded the transaction as an asset. April 1 Issued 1000 common shares to investors for $60,000 April 1 Sold inventory on account for $120,000. The cost of the inventory was $16,000. Also, paid a sales commission on this sale of $10,000. April 5 Paid...
LA MULUI Trial Balance 11/30/17 Dr 112.000 127,000 Cash Accounts Receivable Allowance for Doubtful Accounts Short Term Note Receivable Supplies 1.000 50,000 55.000 62,000 75,000 32,000 94,000 12,000 0 0 12,000 30.000 O 150.000 16,840 105,000 86,000 1,000 50,000 0 Equipment Building Accumulated Depreciation Copyright Accounts Payable Dividends Payable Interest Payable Unearned Revenue ST Note Payable LT Mortgage Payable Bonds Payable Premium on Bonds Payable Common Stock - $1.75 par Paid In Capital In Excess of Par-CS Preferred Stock -...