Prepare Trading , Profit And loss and Balance Sheet
Prepare Trading , Profit And loss and Balance Sheet
Homework Answers
| TRADING ACCOUNT | ||||||
| ACCOUNT | DEBIT | ACCOUNT | CREDIT | |||
| Opening Stock | 90,000 | Sales | 310,000 | |||
| Purchases | 200,000 | Less : Sales Return | (50,000) | |||
| Less: Purchase Return | (10,000) | Closing Stock | 320,000 | |||
| Gross Profit(Transfer to P/L Account) | 300,000 | |||||
| 580,000 | 580,000 | |||||
| PROFIT AND LOSS ACCOUNT | ||||||
| ACCOUNT | DEBIT | ACCOUNT | CREDIT | |||
| Salaries | 35,000 | Gross Profit | 300,000 | |||
| Rent | 30,000 | Commission Received | 20,000 | |||
| Wages | 50,000 | |||||
| General Expense | 15,000 | |||||
| Net Profit | 190,000 | |||||
| 320,000 | 320,000 | |||||
| BALANCE SHEET | ||||||
| ASSETS | LIABILITIES | |||||
| Cash in hand | 65,000 | Creditors | 145,000 | |||
| Debtors | 100,000 | Bank Loan | 155,000 | |||
| Closing Stock | 320,000 | Retained Profit | 190,000 | |||
| Machinery | 65,000 | Capital | 300,000 | |||
| Furniture | 50,000 | Less: Drawings | (20,000) | |||
| Land and Building | 170,000 | |||||
| Total | 770,000 | Total | 770,000 | |||
From the following information in Trial balance prepare Trading, Profit and Loss Account and Balance Sheet...
From the following information in Trial balance prepare Trading, Profit and Loss Account and Balance Sheet of the company as on 31st December 2020. Particulars Dr. Amount (Dhs) Cr. Amount (Dhs) Capital Purchases Purchase Returns Sales Sales Returns Opening Stock Cash in Hand Salaries Rent Commission received Drawings Wages General Expenses Creditors Debtors Machinery Furniture Land and Building Bank Loan 200,000 50,000 90,000 65,000 35,000 30,000 20,000 50,000 15,000 100,000 65,000 50,000 170,000 300,000 10,000 310,000 20,000 145,000 155,000...
9. Prepare a Trading and Profit and Loss Account and a Balance Sheet from the following...
9. Prepare a Trading and Profit and Loss Account and a Balance Sheet from the following information : Dr.Balances Cr. Balances Stock on 1-4-2017 42,000 Sales 96,170 Purchases 68,250 Loans 60,000 Carriage 600 Discount 850 Wages 12,000 Commission 680 Power 1,800 Sundry creditors 6,000 Furniture & fixtures 4.000 Capital 30,000 Investments 250 6,000 Provision for Depreciation Freehold premises 15,000 Traveling expenses 900 Debtors 1,000 Interest 400 Bill receivable 1,800 Tools 7,000 Plant & machinery 30,000 Bad debts 200 Drawings 3,000...
Prepare Trading , Profit And loss and Balance Sheet Particulars Dr. Amount (Dhs) Cr. Amount (Dhs)...
Prepare Trading , Profit And loss and Balance Sheet
Particulars Dr. Amount (Dhs) Cr. Amount (Dhs) 300,000 Capital 200,000 Purchases Purchase Returns 10,000 310,000 Sales Sales Retums Opening Stock Cash in Hand 50,000 90,000 65,000 35,000 30,000 Salaries Rent 20,000 20,000 50,000 15,000 Commission received Drawings Wages General Expenses Creditors Debtors Machinery Furniture Land and Building Bank Loan 145,000 100,000 65,000 50,000 170,000 155,000 940,000 940,000 • Closing Stock is 320,000 dhs
Assignment Material 161 Required 0 Prepare the 20x8 balance sheet and statement of profit and loss....
Assignment Material 161 Required 0 Prepare the 20x8 balance sheet and statement of profit and loss. Problem 4.4 Completing Worksheet * Adjusted Trial Statement of Account Balance Profit and Loss Balance Sheet Debit Credit Debit Credit Debit Credit Merchandise inventory ? Sales 64,100 Sales returns and allowances 1,200 Purchases 43,290 Purchase returns and allowances 370 Purchase discounts 410 Freight in 3,280 Sales discounts. 560 Income tax expense. 4,500 Income tax payable 900 The beginning and ending merchandise inventories were 33,900...
1) Prepare the statement profit or loss for the year ended 31 December 2018 2)Prepare the...
1) Prepare the statement profit or loss for the year
ended 31 December 2018
2)Prepare the financial position as that date.
The following is the trial balance of DRS Trading as at 31 al balance of DRS Trading as at 31 December 2018. Credit (RM) 16,500 34,000 246,290 DRS Trading Trial Balance as at 31 December 2018 Particulars Debit (RM) Cash at bank 18,750 Account Receivable 12,840 Inventory as at 1 January 2018 26,500 Motor vehicles 45,000 Freehold premises 215,000...
Accounting Question Prepare trading and profit and loss account for the year ended on 31 March...
Accounting Question
Prepare trading and profit and loss account for the year ended
on 31 March 2015
Particulars Credit ₹ 1,97,560 1,000 Debit ₹ 1,080 5,260 81,350 1,360 20,960 9,460 6,400 4,080 11,520 60,000 20,000 40,000 30,000 15,000 6,000 1,200 10,490 29,000 3,53,160 Cash in hand Cash at bank Purchases/Sales Returns Wages Fuel and Power Carriage on Sales Carriage on Purchases Stock (1.4.2011) Building Freehold land Machinery Salaries Patents General Expenses Insurance Drawings/Capital Sundry Debtors/Creditors 다 1,42,000 12,600 3,53,160
4. 03. Bazza Books Ltd produced final alc's for 2013 as follows: Trading, Profit & Loss...
4. 03. Bazza Books Ltd produced final alc's for 2013 as follows: Trading, Profit & Loss Appropriation a/c for year ended 31 12 2013 AQA Second TUSIN Sales Cost of sales Gross Profit Expenses Net profit Dividends Reserves 100.000 65.000 35.000 23.500 11.500 1.500 10.000 bert -78 32 Balance Sheet as at 31.12.2013 80.000 30.000 20.000 Fixed Assets Current Assets Current Liabilities Working Capital Total net Assets 10.000 90.000 Financed By : Ordinary Share Capital Reserves Long Term Loan Capital...
Balance Sheet Presentation, Trading Investments The income statement for Delta-tec, Inc., for the year ended December...
Balance Sheet Presentation, Trading Investments The income statement for Delta-tec, Inc., for the year ended December 31, Year 2, was as follows: Delta-tec, Inc. Income Statement (selected items) For the Year Ended December 31, Year 2 Income from operations $146,000 Gain on sale of investments 12,000 Unrealized loss on trading investments (34,000) Net income $124,000 The balance sheet dated December 31, Year 1, showed a Retained Earnings balance of $604,000. During Year 2, the company purchased trading investments for the...
Trading Securities Instructions Chart of Accounts Labels and Amount Descriptions General Journal Income Statement Balance Sheet...
Trading Securities Instructions Chart of Accounts Labels and Amount Descriptions General Journal Income Statement Balance Sheet Instructions Southeast Bank invests in trading securities and prepares quarterly financial statements. At the beginning of the fourth quarter of 2018, the bank held as trading securities 220 shares of Eglan Company common stock that originally cost $5,940. At that time, these securities had a fair value of $5,720. During the fourth quarter, the bank engaged in the following trading securities transactions: Oct. 26...
Balance Sheet Presentation of Trading Investments During 2018, its first year of operations, Galileo Company purchased...
Balance Sheet Presentation of Trading Investments During 2018, its first year of operations, Galileo Company purchased two trading investments as follows: Security Shares Purchased Cost Hawking Inc. 900 $44,000 Pavlov Co. 1,780 38,000 Assume that as of December 31, 2018, the Hawking Inc. stock had a market value of $50 per share, and the Pavlov Co, stock had a market value of $24 per share. Galileo Company had net income of $300,000 and paid no dividends for the year ended...
9. Prepare a Trading and Profit and Loss Account and a Balance Sheet from the following information : Dr.Balances Cr. Balances Stock on 1-4-2017 42,000 Sales 96,170 Purchases 68,250 Loans 60,000 Carriage 600 Discount 850 Wages 12,000 Commission 680 Power 1,800 Sundry creditors 6,000 Furniture & fixtures 4.000 Capital 30,000 Investments 250 6,000 Provision for Depreciation Freehold premises 15,000 Traveling expenses 900 Debtors 1,000 Interest 400 Bill receivable 1,800 Tools 7,000 Plant & machinery 30,000 Bad debts 200 Drawings 3,000...
Prepare Trading , Profit And loss and Balance Sheet
Particulars Dr. Amount (Dhs) Cr. Amount (Dhs) 300,000 Capital 200,000 Purchases Purchase Returns 10,000 310,000 Sales Sales Retums Opening Stock Cash in Hand 50,000 90,000 65,000 35,000 30,000 Salaries Rent 20,000 20,000 50,000 15,000 Commission received Drawings Wages General Expenses Creditors Debtors Machinery Furniture Land and Building Bank Loan 145,000 100,000 65,000 50,000 170,000 155,000 940,000 940,000 • Closing Stock is 320,000 dhs
Assignment Material 161 Required 0 Prepare the 20x8 balance sheet and statement of profit and loss. Problem 4.4 Completing Worksheet * Adjusted Trial Statement of Account Balance Profit and Loss Balance Sheet Debit Credit Debit Credit Debit Credit Merchandise inventory ? Sales 64,100 Sales returns and allowances 1,200 Purchases 43,290 Purchase returns and allowances 370 Purchase discounts 410 Freight in 3,280 Sales discounts. 560 Income tax expense. 4,500 Income tax payable 900 The beginning and ending merchandise inventories were 33,900...
1) Prepare the statement profit or loss for the year
ended 31 December 2018
2)Prepare the financial position as that date.
The following is the trial balance of DRS Trading as at 31 al balance of DRS Trading as at 31 December 2018. Credit (RM) 16,500 34,000 246,290 DRS Trading Trial Balance as at 31 December 2018 Particulars Debit (RM) Cash at bank 18,750 Account Receivable 12,840 Inventory as at 1 January 2018 26,500 Motor vehicles 45,000 Freehold premises 215,000...
Accounting Question
Prepare trading and profit and loss account for the year ended
on 31 March 2015
Particulars Credit ₹ 1,97,560 1,000 Debit ₹ 1,080 5,260 81,350 1,360 20,960 9,460 6,400 4,080 11,520 60,000 20,000 40,000 30,000 15,000 6,000 1,200 10,490 29,000 3,53,160 Cash in hand Cash at bank Purchases/Sales Returns Wages Fuel and Power Carriage on Sales Carriage on Purchases Stock (1.4.2011) Building Freehold land Machinery Salaries Patents General Expenses Insurance Drawings/Capital Sundry Debtors/Creditors 다 1,42,000 12,600 3,53,160
4. 03. Bazza Books Ltd produced final alc's for 2013 as follows: Trading, Profit & Loss Appropriation a/c for year ended 31 12 2013 AQA Second TUSIN Sales Cost of sales Gross Profit Expenses Net profit Dividends Reserves 100.000 65.000 35.000 23.500 11.500 1.500 10.000 bert -78 32 Balance Sheet as at 31.12.2013 80.000 30.000 20.000 Fixed Assets Current Assets Current Liabilities Working Capital Total net Assets 10.000 90.000 Financed By : Ordinary Share Capital Reserves Long Term Loan Capital...
Balance Sheet Presentation, Trading Investments The income statement for Delta-tec, Inc., for the year ended December 31, Year 2, was as follows: Delta-tec, Inc. Income Statement (selected items) For the Year Ended December 31, Year 2 Income from operations $146,000 Gain on sale of investments 12,000 Unrealized loss on trading investments (34,000) Net income $124,000 The balance sheet dated December 31, Year 1, showed a Retained Earnings balance of $604,000. During Year 2, the company purchased trading investments for the...
Balance Sheet Presentation of Trading Investments During 2018, its first year of operations, Galileo Company purchased two trading investments as follows: Security Shares Purchased Cost Hawking Inc. 900 $44,000 Pavlov Co. 1,780 38,000 Assume that as of December 31, 2018, the Hawking Inc. stock had a market value of $50 per share, and the Pavlov Co, stock had a market value of $24 per share. Galileo Company had net income of $300,000 and paid no dividends for the year ended...
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