Question

1. On January 1, 2017 the following machines were acquired for cash: Production machines costs Marketing machines costs $ 6,000 $3,000 Administrative machines costs $1,500 firm uses the The expected useful life of all machines is five years, no salvage value, and the straight-line method. 2. On January 2, the firm purchased for cash raw materials at cost of $5,000. 3. On January 3, the following materials were issued for use: Production machines costs $ 2,000 Marketing machines costs $ 500 Administrative machines costs $250 4. On January 14, the company paid the payroll: Production machines costs $3,000 Marketing machines costs $2,000 Administrative machines costs $1,500 5. On January 18, the firm paid the following expenses: Production machines costs $500 Marketing machines costs $300 Administrative machines costs $200 6. Cash sales during January were $15,000. 7. A fire destroyed raw material of $100. 3. How much is the amount of unexpired cost?

Answer 1

Unexpired Cost is $12575 ( For Stock $2250 and for Fixed Asses $10325)

P&L
date	expenditure	amount	date	income	amount
2.1.2017	Raw Material	2250		Sales	15000
3.1.2017	WIP		31.1.2017	Closing Stock	2250
	Production Machine	2000
	Marketing Machine	500
	Admin. Machine	250
14.1.2017	Salary
	Production Machine	3000
	Marketing Machine	2000
	Admin. Machine	1500
18.1.2017	Expenses
	Production Machine	500
	Marketing Machine	300
	Admin. Machine	200
	Loss by Fire	100
31.1.2017	Depriciation	175
31.1.2017	Gross Profit	4650
		17425			17250