From the following data, produce a trading account for the year ended 31 December 2018. Opening inventory
Question:
From the following data, produce a trading account for the year ended 31 December 2018.
Transcribed Image Text:
Opening inventory Closing inventory Purchases Sales Carriage inwards Returns inwards Returns outwards 8,130 10,120 65,800 84,000 320 110 255
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Trading account for the year ended 31 December 2018 Sale...View the full answer
Answered By
Omar ELmoursi
I'm Omar, I have Bachelor degree in Business and Finance, My unique approach is to help students with questions and assignments, I can teach Business, Math, Accounting, Managerial Accounting, Economy, Human resources management, organizational behavior, project management, I have experience dealing with different types of students and teach them how to deal with different types of exercises.
5.00+
4+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Kindex Berhad is a trading company with financial year ending every 31 December. The company is preparing their financial statements for the year ending 31 December 2018 and the following is Kindex...
-
An investor purchased 100 shares at $10 per share. The security is eligible for a reduced margin. Subsequently, the shares declined to $8. Calculate the additional margin that the investor must...
-
A . Real Style Ltd, a retail store, has a policy of refunding the purchases of dissatisfied customers, even though it is under no legal obligation to do so. Its policy of refunds is generally known...
-
Jason and Mary Wells, friends of yours, were married on December 30, 2020. They know you are studying taxes and have sent you an e-mail with a question concerning their filing status. Jason and Mary...
-
Repeat Problem 4.20 for D = xxy3z3 (C/m2).
-
Dex Co. had the following production for the month of June. Units Work-in-process at June 1 10,000 Started during June 40,000 Completed and transferred to finished goods during June 33,000 Abnormal...
-
The primary purpose of using a certification authority in electronic commerce is to: a. Ensure both the vendor and customer choose secure private keys b. Provide a banking facility for both the...
-
Scott Confectionery sells its Stack-o-Choc candy bar for $0.80. The variable cost per unit for the candy bar is $0.45; total fixed costs are $175,000. Required a. What is the contribution margin per...
-
One hundred draws are going to be made at random with replacement from the box with seven tickets labeled: 1, 2, 3, 4, 5, 6, 7. What is the expected value and the standard error?
-
The following data relate to the year-end balances for the business of J Holloway. From this data construct the income statement for the year ended 31 December 2015. Sales Purchases Opening inventory...
-
From the following data, produce a trading account for the year ended 31 December 2017. Opening inventory Closing inventory Purchases Sales 12,181 31,905 76,878 154,544
-
The price elasticity of demand for a textbook sold in the United States is estimated to be 2.0, whereas the price elasticity of demand for books sold overseas is 3.0. The U.S. market requires...
-
Students are encouraged to engage in critical thinking abilities and use their analytical skills. Provide your own unique insight into a rather common problem which organizations and their employees...
-
What are some Financial KPIs organizations use to measure CSR or TBL
-
Why do private equity investors invest in distressed debt? How does this differ from Hedge Fund activity in distressed debt?
-
Valuation using APV: (5 points) Propel Corporation plans to make a $75 million investment, funded completely with debt, for a new 3-year project. The expected free cash flows of the project and...
-
Problem 7. Determine the sum of the cash flows in the incremental difference column (i.e., Y-X) for systems X and Y. System X System Z First cost, $ -40,000 -95,000 Annual operating cost, $/year...
-
1. Critics have argued that WikiLeaks is now attacking secrecy on all fronts, with no concern for the consequences of the information posted on its site. Do those actions align with the ethical...
-
The text defined intrinsic value as the value of an asset given a hypothetically complete understanding of the assets investment characteristics. Discuss why hypothetically is included in the...
-
Will Pierce runs a small business. Construct the ledger accounts from the following transactions. 2014 1 August Pierce borrows 5,000 from K Johnson and places this into the bank. 1 August Pierce...
-
For the following transactions state which accounts should be debited, and which should be credited. (a) Private car to be used in future within business. (b) Wages paid by cash. (c) Goods purchased...
-
For the following transactions state which accounts should be debited, and which should be credited. (a) Insurance paid in cash. (b) Goods previously purchased returned to J Nesbit. (c) Cash banked....
-
In cost accounting, can anyone explain the following sentence and what does it means: "Higher than expected production accomplished in less than the standard machine hours allowed."
-
Indica bajo qu escenario No es posible utilizar el estadstico Z para plantear una prueba de hiptesis para la media. Con tamao de muestra grande (n30) y desviacin estndar poblacional conocida () Con...
-
Sex Hair Eye 0 Black Brown 0 Black Brown 0 Black Brown 0 Black Brown 0 Black Brown 0 Black Brown 0 Black Brown 0 Black Brown 0 Black Brown 0 Black Brown 0 Black Brown 0 Black Brown 0 Black Brown 0...
Study smarter with the SolutionInn App