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Prepare the Statement of Comprehensive Income for the year to and the Statement of Financial Position for Amelina Sdn. Bhd. as at 31 December 2020 for INTERNAL USE.
Prepare an income statement for December 2020 and a classified statement of financial position at December 31, 2020. On December 1, 2020, Cambridge Printers had the account balances shown below. Debit Credit Cash £ 4,650 Accumulated Depreciation – Equipment £ 1,500 Accounts Receivable 3,900 Accounts Payable 3,000 Inventory 1,950 (3,000 x £0.65) Owner’s Capital 27,000 Equipment 21,000 £ 31,500 £ 31,500 The following transactions occurred during December. December 3: Purchased 4,000 units of inventory on account at a cost of...
TEST 2 (Principle of Accounting).docx
Prepare a multi-step income statement for Mumakeipe Sdn. Bhd. (an engineering wiring service) for the year ending December 31, 2017 given the information below: Interest expense 17540 Cost of goods sold (COGS) 256500 Depreciation expense 11690 Management salaries 17,950 Advertising expenditures 12,930 Gross Sales 520600 Taxes 3,270 Returns and allowances 10940 Rental payments 39,270 R&D expenditures 5990 Repairs and maintenance costs 2,910 a) What is Mumakeipe's gross profit? Format : 947870 b) What is Mumakeipe's operating profit? Format : 737380 c) What...
Prepare a multi-step income statement for Mumakeipe Sdn. Bhd. (an engineering wiring service) for the year ending December 31,2017 given the information below: Item Interest expense Cost of goods sold (COGS) Depreciation expense Management salaries Advertising expenditures Gross Sales Taxes Returns and allowances Rental payments R&D expenditures Repairs and maintenance costs RM 15550 270700 10280 17,950 12,930 466100 3.270 11850 39,270 5870 2.910 a) What is Mumakeipe's gross profit? 225690 b) What is Mumakeipe's operating profit? : 78350 c) What...
Bright Star Sdn Bhd. has the following information for 2012: Statement of comprehensive income for the year ended June 30, 2012 S 550,000 320.000 230,000 Sales revenue Less: Cost of goods sold Gross margin Less: Operating expenses Salaries expense Depreciation expense Insurance expense 165,000 21,000 19.000 205.000 25,000 3.000 28.000 Gain on sale of non-current assets Statement of financial position at June 30 2012 (5) 28,000 26,000 30,000 84,000 90,000 2011 (5) 33,000 Accounts payable 15,000 Salaries payable 42,000 90,000...
Bright Star Sdn Bhd. has the following information for 2012: Statement of comprehensive income for the year ended June 30, 2012 S 550,000 320.000 230,000 Sales revenue Less: Cost of goods sold Gross margin Less: Operating expenses Salaries expense Depreciation expense Insurance expense 165,000 21,000 19.000 205.000 25,000 3.000 28.000 Gain on sale of non-current assets Statement of financial position at June 30 2012 (5) 28,000 26,000 30,000 84,000 90,000 2011 (5) 33,000 Accounts payable 15,000 Salaries payable 42,000 90,000...
Mawar Sdn. Bhd. presented the following balances in the company's statement of financial position for 2017 and 2016. December 31, 2017 December 31, 2016 RM RM Equipment 105,450 76,500 Accumulated depreciation-equipment (48.300) (30,600) Inventory 175.350 139,875 Accounts receivable 19,425 23.250 Cash 53.925 31,800 Ordinary share capital, no par value 207,000 165,000 Retained earnings 55,875 33,450 Accounts payable 38,475 35,625 Tax payable 4,500 6,750 Mawar Sdn. Bhd, presented the following statement of profit or loss for the year ended December 31,...
31. Prepare a Statement of Financial Position and an Income Statement for the new legal firm of Dewy, Cheatem, and Howe's first month of operation ending December 31, 2018. (35 Points) 1. 2. 3. 1 4. 5. 6. 7. 8. 9. 10. The three partners invested $30,000 cash in the business. Paid premium for two-year liability insurance policy, $1,500. Purchased office equipment with a cost of $20,000 with $5,000 down payment; the balance to be paid over three years $5,000...
) Prepare the income statement for the year ended December 31. (2) Prepare the statement of retained earnings for the year ended December 31 The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Cred Debit $ 6,600 16,500 2,000 183,000 $ 37,698 75,000 Account Title Cash Accounts receivable office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking fees earned Depreciation expense-Trucks Salaries expense office supplies expense...