The following accounts and amounts (balances are normal balances) were taken from the records of Prider Manufacturers
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The following accounts and amounts (balances are normal balances) were taken from the records of Prider Manufacturers Ltd at 30 June 2019.
Required
(a) Prepare a cost of goods manufactured statement for the year ended 30 June 2019.
(b) Prepare an income statement for the year ended 30 June 2019.
(c) The industry average for gross profit margin is 30%, and the profit margin is 10%. Explain how Prider Manufacturers Ltd’s financial performance compares with the industry average.
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Related Book For
Accounting
ISBN: 9780730363224
10th Edition
Authors: John Hoggett, John Medlin, Keryn Chalmers, Beattie Claire, Hellmann Andreas, Maxfield Jodie
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