Please complete the income statement for the year 201617 based upon the information given: Particulars Sales Opening
Question:
Please complete the income statement for the year 2016–17 based upon the information given:
Transcribed Image Text:
Particulars Sales Opening stock Purchases Closing stock Cost of goods sold Gross profit Operating expenses Profit/loss before Tax Ram Limited 5,500 700 4,750 850 ?? ?? ?? 500 (in Thousands) Shyam Limited ?? 1,250 ?? 900 6,600 2,150 1,200 ?? Shiv Limited 10,200 1,500 9,250 ?? 8,175 ?? ?? 225 Vishnu Limited ?? ?? 3,450 775 3,975 300 ?? (500)
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (2 reviews)
Particulars Sales Opening stock Purchases Closing stock Cost of goods ...View the full answer
Answered By
Utsab mitra
I have the expertise to deliver these subjects to college and higher-level students. The services would involve only solving assignments, homework help, and others.
I have experience in delivering these subjects for the last 6 years on a freelancing basis in different companies around the globe. I am CMA certified and CGMA UK. I have professional experience of 18 years in the industry involved in the manufacturing company and IT implementation experience of over 12 years.
I have delivered this help to students effortlessly, which is essential to give the students a good grade in their studies.
3.50+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
This problem Set is based on materials covered in module 1/week 1. It is designed for you to demonstrate your understanding of basic financial statements, financial statement analysis, break-even...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
List three specific parts of the Case Guide, Objectives and Strategy Section (See below) that you had the most difficulty understanding. Describe your current understanding of these parts. Provide...
-
Using the following information, determine the activity rate for the quality inspections activity. Budgeted Activity Cost Pool Activity Setups Estimated Activity Base 1,000 $60,000 Purchase orders...
-
Martin Realtors, a real estate consulting firm, specializes in advising companies on potential new plant sites. The company uses a job order costing system with a predetermined indirect cost...
-
A machine tool is designed to follow a desired path so that r(t) = (1 - t)u(t), where u(t) is the unit step function. The machine tool control system is shown in Figure AP4.3. (a) Determine the...
-
What is the probability that two As are showing? We are considering two special 6 -sided dice. Each face is labeled with a number and a letter: the first die has faces \(1 A, 1 B, 2 A, 2 C, 4 A, 4...
-
In this mini-case you will audit and evaluate documents such as bank confirmations and bank reconciliations in the audit of one of EarthWear's cash accounts. The company has several other cash...
-
The US Solar Company has data for the four divisions for the year, and wants the results for the three specified key performance indicators (KPIs). Create an Excel table from the data. (3 pts) a....
-
The profit and loss account of Innovative Products Limited for the years 2016 and 2017 is given below: The management was surprised to note that though the sales have increased by 9%, the profit...
-
Based upon the trial balance given in Problem 3 of Chapter 5 (profit and loss statement) prepare the balance sheet of Shivam Industries Limited as on 31st March 2017. Problem 3 Based upon the given...
-
You are the senior HR manager of your firm, which has 150 employees. Your sales/revenues have declined steadily for the past 10 months. You and the executive team have exhausted all efforts to...
-
The following are selected operating data for Jackson Companys Blending Department for April 2016. Tinting and packaging operations are carried out subsequently in other departments. Calculate the...
-
Presented below are certain operating data for the four depart- LOS ments of Tally Manufacturing Company. Allocate, to the two production departments, the costs of service departments | and 2, using...
-
Riverwood Accounting Company has the following account in its cost records: Riverwood applies overhead to projects at a predetermined rate based on direct labor costs. Assume that Riverwood uses a...
-
Before the completed production for June is recorded, the work in process inventory account for James Company appears as follows: Assume that completed production for June includes Jobs 107, 108, and...
-
What employee services can you think of that were not mentioned in the text but would likely be highly valued by the employees where you work (or have worked)?
-
Students in Business Studies, Computer Studies, and Engineering Technology Studies were asked to rate their college experience as excellent, good, fair, or poor. Create two graphs to compare the...
-
According to a recent survey, 40% of millennials (those born in the 1980s or 1990s) view themselves more as spenders than savers. The survey also reveals that 75% of millennials view social...
-
If you were a government official, would you prefer to contract with a small community-based nonprofit organization or with a for-profit company that might have greater resources?
-
If given the option, would you prefer that your nonprofit organization receive a government grant or a contract? Why?
-
What are the differences in direct and indirect costs to a nonprofit organization? Would you want a government grant or contract that provided funds for direct or indirect costs?
-
a. Please discuss secured transactions. What role does security interest, financing statement, collateral, debtor, and creditor play in a secured transaction. b. It is important that a security...
-
Comprehensive Problem (Algo) LO 11-1, 11-2, 11-3, 11-4 Benson Modems, Inc. acquired a subsidiary named Anywhere, Inc. (Al). Al manufactures a wireless modem that enables users to access the Internet...
-
1The building was purchased on May 3, 2009, and is depreciated to the nearest whole month using the straight-line method. Depreciation is based on a 15-year life, after which it will be demolished...
Study smarter with the SolutionInn App