From the following trial balance of G. Still, draw up a statement of profit or loss for
Question:
From the following trial balance of G. Still, draw up a statement of profit or loss for the year ending 30 September 2017, and a statement of financial position as at that date.
Transcribed Image Text:
Dr Cr Inventory: 1 October 2016 41,600 Carriage outwards Carriage inwards 2,100 3,700 Returns inwards Returns outwards Purchases Sales Salaries and wages Warehouse rent Insurance 1,540 3,410 188,430 380,400 61,400 3,700 1,356 Motor expenses 1,910 Office expenses 412 Lighting and heating expenses 894 General expenses 245 Premises 92,000 Motor vehicles 13,400 Fixtures and fittings Accounts receivable Accounts payable 1,900 42,560 31,600 Cash at bank 5,106 Drawings 22,000 Capital 68,843 484,253 484,253 Inventory at 30 September 2017 was 44,780.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Statement of Profit or Loss for the year ending 30 September 2017 Sales 380400 Less Cost of Goods So...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
Frank Woods Business Accounting Volume 1
ISBN: 9781292084664
13th Edition
Authors: Alan Sangster, Frank Wood
Question Posted:
Students also viewed these Business questions
-
Tareq is a junior sales representative for a large equipment manufacturer. Sarah, a senior sales representative, has requested that Tareq help her prepare a sales presentation for a new prospect. As...
-
You are presented with the following summarised information for Norbreck plc and its subsidiary, Bispham Ltd: Additional information: (a) Norbreck plc acquired 80% of the shares in Bispham Ltd on 1...
-
Question 1 This question has two parts, (A) and (B). Answer both parts. 100% Liverpool plc is a company that manufactures a number of different types of electrical goods and has a year end of 31...
-
With reference to the Auditors Report, answer the following questions: The recent final audit report of an FMCG carries a line which is read as in the manner so required and respectively give a true...
-
On April 1, 2017, Bight Corporation issued $400,000, five-year bonds. On this date, Shoreline Corporation purchased the bonds from Bight to earn interest. Interest is received semi-annually on April...
-
The following are speeds (mi/h) of cars measured with a radar gun on the New Jersey Turnpike based on data from Statlib and authors Joseph Kadane and John Lamberth. 70 70 71 72 72 73 73 74 76 77 78...
-
Which statement is false with respect to the PCAOB? a. PCAOB issues standards describing auditor's attestation requirements. b. D.W. Squires was a former chief auditor of PCAOB. c. PCAOB is a...
-
Selected transactions for Essex Company during July of the current year are listed in Problem 5-3B. In Problem 5-3B. The following were selected from among the transactions completed by Essex Company...
-
Daosta Inc. uses the FIFO method in its process costing system.The following data concern the operations of the company??s firstprocessing department for a recent month.Work in process, b 2 answers
-
The following trial balance was extracted from the books of F. Sorley on 30 April 2017. From it, and the note about inventory, prepare his statement of profit or loss for the year ending 30 April...
-
The following information is available for the year ending 31 December 2017. Draw up the trading account section of the statement of profit or loss of J. White for that year. Inventory: 31 December...
-
Summarize the major challenges of "going public" for a small business.
-
Please help answer the questions 1. How often does Time Machine create new backups? 2. Which app provides tools for customizing the macOS interface? 3. What Apple file type is similar to an ISO...
-
What are the pros and cons of Dubai's state-run capitalism model? Can it be replicated in other parts of the world? How sustainable is Dubai's growth model, particularly given the volatile nature of...
-
After your read/listen/view, then consider this assigned material. Go the following link to read an article describing fraud and Abuse. View these short videos from the Office of Inspector General...
-
Juan divorced Maria in 2 0 1 7 . During 2 0 2 3 , per the divorce decree, Juan made thefollowing payments:The entire mortgage payment on house ( jointly owned, and payments with stopafter death of...
-
You're an intrepid night cargo pilot flying for a company based out of exotic Elmira, New York. You just walked away from an epic crash that occurred shortly after takeoff in which you completely...
-
The following flowchart shows the August production activity of the Jez Company. Use the amounts shown on the flowchart to compute the missing four numbers identified byblanks. Production Beginning...
-
What is EBIT/eps analysis? What information does it provide managers?
-
Analyze the balance sheet for PQR Corp. as of December 31, 2023, to evaluate its operational efficiency and profitability. PQR Corp. Balance Sheet As of December 31, 2023 Assets Current Assets Cash...
-
Multiple Select Question Select all that apply A property dividend (Select all that apply.) Multiple select question. reduces retained earnings. is a noncash distribution to owners. is the issuance...
-
In your initial postings, please review and address the following points: Describe the information value chain. Based on a real-world company (past, current, or future employer), explain how the...
Study smarter with the SolutionInn App