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This is an extract from Kamal's trabalance for the year end 30 June 20x8 Opening inventory...
Q1. 4U Berhad Trial balance as at 30 June 2019 RM 0.000) RM (.000) 25,000 1.500...
Q1. 4U Berhad Trial balance as at 30 June 2019 RM 0.000) RM (.000) 25,000 1.500 750 2.500 12.500 1.250 500 875 1.250 2.500 1.250 7,500 500 1,500 6.000 Sales @ RM 100 per unit Inventory at 14 May 2018 (15,000 @ RM 50) Trade receivables and payables Purchases Return inwards Carriage inwards Carriage outwards Return outwards Administrative expenses Selling and distribution expenses Plant and machinery at cost Discount received Commission Received Rental Building at cost Freehold land at cost...
62. Preparation of internal and published financial statements Required: Prepare for the year ended 30 June...
62. Preparation of internal and published financial statements Required: Prepare for the year ended 30 June 20x6 the statement of comprehensive income changes in equity and statement of financial position. * Question 3 Basalt plc is a wholesaler. The following is its trial balance as at 31 December 20X0. Dr £000 GE00 Ordinary share capital: £l shares Share premium General reserve Retained earnings as at January 20X0 Inventory as at January 20X0 Sales Purchases Administrative costs Distribution costs Plant and...
62. Preparation of internal and published financial statements Required Prepare for the year ended 30 June...
62. Preparation of internal and published financial statements Required Prepare for the year ended 30 June 20x6 the statement of comprehensive incon changes in equity and statement of financial portion Question 3 Basalt pic is a wholesaler. The folowing is its trial balance as at 31 December 200 Dr 2000 Ordinary share capital i stares Shure premium General reserve Retained earnings as at laruary 2010 Inventory as at January 20X0 Sales Purchases Administrative costs Distribution costs Plant and machinery-cost Plant...
Question 1 Sales of finished goods by a business for the year ended 30 June 2018...
Question 1 Sales of finished goods by a business for the year ended 30 June 2018 were $240,000, the selling price showing a mark-up of 50% on cost. The finished goods inventory as at 1 July 2017, valued at cost, was $60,000 and at 30 June 2018 was $10,000. What was the cost of goods manufactured for the year ended 30th June 2018? Calculations Opening FG Closing FG COGS COGM Please provide full explanations and solution. Thanks!
Insta Limited Statement of Comprehensive Income For the year ended June 30, 2017 Amount Particulars in...
Insta Limited Statement of Comprehensive Income For the year ended June 30, 2017 Amount Particulars in Rupees) Sales 843,500 Opening Inventory Purchases Factory Expenses Closing Stock Cost of Goods Sold 55,000 465,000 143,000 (79,500) (583,500) Gross Profit 260,000 Office Expenses Selling Expenses Distribution Expenses Provision for Doubtful Debts Depreciation Interest of Debentures 50,000) (30,000) (20,000) (4,000) (16,000) (14,000) Other Income Gain on disposal of vehicle Interest on Investment 20,000 40,000 Net Profit 186,000 Required: Based on the information given, compute...
The following trial balance was extracted from the books of SOS。(PVT) on 16th June, 2018. ZMW Ca...
The following trial balance was extracted from the books of SOS。(PVT) on 16th June, 2018. ZMW Capital Returns outwards-raw materials Sales Returns outwards Vehicles Rent receivable Trade payables Issued share capital- ordinary shares Issued share capital-preference shares Share premium Opening stock of raw material Opening stock of work in progress Purchases-raw materials Dividend paid Direct expenses Retained earnings at 1/6/18 Inventory 13,500 250 22,050, 413 475 200 638 4,125 725 450 780 660 150 1,970 240 975 825 Purchases 6,263...
Askew Company uses a periodic inventory system. The June 30, 2018 year-end trial balance for the...
Askew Company uses a periodic inventory system. The June 30, 2018 year-end trial balance for the company contained the following information: Debit 33, 3e9 Credit 393,080 Account Merchandise inventory, 7/1/17 Sales Sales returns Purchases Purchase discounts Purchase returns Freight-in 13,309 253,000 7,309 11,309 19,600 In addition, you determine that the June 30, 2018, inventory balance is $41,300. Required: 1. Calculate the cost of goods sold for the Askew Company for the year ending June 30, 2018. 2. Prepare the year-end...
Askew Company uses a periodic inventory system. The June 30, 2018 year-end trial balance for the...
Askew Company uses a periodic inventory system. The June 30, 2018 year-end trial balance for the company contained the following information: Debit 33, 3e9 Credit 393,080 Account Merchandise inventory, 7/1/17 Sales Sales returns Purchases Purchase discounts Purchase returns Freight-in 13,309 253,000 7,309 11,309 19,600 In addition, you determine that the June 30, 2018, inventory balance is $41,300. Required: 1. Calculate the cost of goods sold for the Askew Company for the year ending June 30, 2018. 2. Prepare the year-end...
Manufacturing Account The following details were extracted from the books of Konongo Industries Limited a manufacturer...
Manufacturing Account The following details were extracted from the books of Konongo Industries Limited a manufacturer of soap for the year ended 31st March, 1999 GH¢ Opening Stocks: Raw materials 785,000 Work-In-Progress (WIP) 216,000 Finished Goods 432,750 Purchases 1,871,215 Sales 4,343,680 Return Outwards 52,100 Return Inwards 18,350 Carriage Inwards 74,180 Discount Allowed 15,015 Discount Received 46,780 Plant and Machinery at cost 1,850,000 Freehold Building at cost 1,610,000 Furniture and Fittings at cost 318,000 Indirect Wages 127,125 Lighting and Heating 74,300 Insurance 16,720...
The following trial balance was extracted from the books of SOSO (PVT) on 16th June, 2018. ZMW Capital Returns outwards-raw materials Sales Returns outwards Vehicles Rent receivable Trade paya...
The following trial balance was extracted from the books of SOSO (PVT) on 16th June, 2018. ZMW Capital Returns outwards-raw materials Sales Returns outwards Vehicles Rent receivable Trade payables Issued share capital- ordinary shares Issued share capital-preference shares Share premium Opening stock of raw material Opening stock of work in progress Purchases-raw materials Dividend paid Direct expenses Retained earnings at 1/6/18 Inventory 13,500 250 22,050, 413 475 200 638 4,125 725 450 780 660 150 1,970 240 975 825 6,263...
Q1. 4U Berhad Trial balance as at 30 June 2019 RM 0.000) RM (.000) 25,000 1.500 750 2.500 12.500 1.250 500 875 1.250 2.500 1.250 7,500 500 1,500 6.000 Sales @ RM 100 per unit Inventory at 14 May 2018 (15,000 @ RM 50) Trade receivables and payables Purchases Return inwards Carriage inwards Carriage outwards Return outwards Administrative expenses Selling and distribution expenses Plant and machinery at cost Discount received Commission Received Rental Building at cost Freehold land at cost...
62. Preparation of internal and published financial statements Required: Prepare for the year ended 30 June 20x6 the statement of comprehensive income changes in equity and statement of financial position. * Question 3 Basalt plc is a wholesaler. The following is its trial balance as at 31 December 20X0. Dr £000 GE00 Ordinary share capital: £l shares Share premium General reserve Retained earnings as at January 20X0 Inventory as at January 20X0 Sales Purchases Administrative costs Distribution costs Plant and...
62. Preparation of internal and published financial statements Required Prepare for the year ended 30 June 20x6 the statement of comprehensive incon changes in equity and statement of financial portion Question 3 Basalt pic is a wholesaler. The folowing is its trial balance as at 31 December 200 Dr 2000 Ordinary share capital i stares Shure premium General reserve Retained earnings as at laruary 2010 Inventory as at January 20X0 Sales Purchases Administrative costs Distribution costs Plant and machinery-cost Plant...
Insta Limited Statement of Comprehensive Income For the year ended June 30, 2017 Amount Particulars in Rupees) Sales 843,500 Opening Inventory Purchases Factory Expenses Closing Stock Cost of Goods Sold 55,000 465,000 143,000 (79,500) (583,500) Gross Profit 260,000 Office Expenses Selling Expenses Distribution Expenses Provision for Doubtful Debts Depreciation Interest of Debentures 50,000) (30,000) (20,000) (4,000) (16,000) (14,000) Other Income Gain on disposal of vehicle Interest on Investment 20,000 40,000 Net Profit 186,000 Required: Based on the information given, compute...
The following trial balance was extracted from the books of SOS。(PVT) on 16th June, 2018. ZMW Capital Returns outwards-raw materials Sales Returns outwards Vehicles Rent receivable Trade payables Issued share capital- ordinary shares Issued share capital-preference shares Share premium Opening stock of raw material Opening stock of work in progress Purchases-raw materials Dividend paid Direct expenses Retained earnings at 1/6/18 Inventory 13,500 250 22,050, 413 475 200 638 4,125 725 450 780 660 150 1,970 240 975 825 Purchases 6,263...
Askew Company uses a periodic inventory system. The June 30, 2018 year-end trial balance for the company contained the following information: Debit 33, 3e9 Credit 393,080 Account Merchandise inventory, 7/1/17 Sales Sales returns Purchases Purchase discounts Purchase returns Freight-in 13,309 253,000 7,309 11,309 19,600 In addition, you determine that the June 30, 2018, inventory balance is $41,300. Required: 1. Calculate the cost of goods sold for the Askew Company for the year ending June 30, 2018. 2. Prepare the year-end...
Askew Company uses a periodic inventory system. The June 30, 2018 year-end trial balance for the company contained the following information: Debit 33, 3e9 Credit 393,080 Account Merchandise inventory, 7/1/17 Sales Sales returns Purchases Purchase discounts Purchase returns Freight-in 13,309 253,000 7,309 11,309 19,600 In addition, you determine that the June 30, 2018, inventory balance is $41,300. Required: 1. Calculate the cost of goods sold for the Askew Company for the year ending June 30, 2018. 2. Prepare the year-end...
The following trial balance was extracted from the books of SOSO (PVT) on 16th June, 2018. ZMW Capital Returns outwards-raw materials Sales Returns outwards Vehicles Rent receivable Trade payables Issued share capital- ordinary shares Issued share capital-preference shares Share premium Opening stock of raw material Opening stock of work in progress Purchases-raw materials Dividend paid Direct expenses Retained earnings at 1/6/18 Inventory 13,500 250 22,050, 413 475 200 638 4,125 725 450 780 660 150 1,970 240 975 825 6,263...
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