The following information is given for the year ended 31 December 20*8 for Pierre Roi: stock at
Question:
The following information is given for the year ended 31 December 20*8 for Pierre Roi:
stock at 1 January 20*8 £613; stock at 31 December 20*8 £770; purchases £14,661; sales £25,047.
Required
Prepare a trading account for the year ended 31 December 20*8.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 28% (7 reviews)
Sales This is the total revenue generated from selling goods during the year Given as 25047 Cost of ...View the full answer
Answered By
Chandrasekhar Karri
I have tutored students in accounting at the high school and college levels. I have developed strong teaching methods, which allow me to effectively explain complex accounting concepts to students. Additionally, I am committed to helping students reach their academic goals and providing them with the necessary tools to succeed.
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
The following information is given for the year ended 31 December 20*8 for Mao: stock at 1 January 20*8 12,651; stock at 31 December 20*8 11,537; purchases 175,873; sales 342,960; returns inwards...
-
Which of the following is a true statement about? self-interestas used in the study of? economics? A. Any action can be based on? self-interest if the person hassome reason for the action. B....
-
The summarized statements for the year ended 31 December 2007 for Mat, Rug and P entities are as follows: Statements of comprehensive income for the year ended 31 December 2007 The following...
-
Evenflow Power Co. is considering a new project that is a little riskier than the current operations of the company. Thus, management has decided to add an additional 1.5% to the company's overall...
-
Assume that on January 1, 2011, Peking Duck Co. sells a computer system to Liquidity Finance Co. for 510,000 and immediately leases the computer system back. The relevant information is as follows....
-
Presented below are the financial statements of two companies that are identical in every respect except the method of valuing their inventories. The method of valuing inventory is LIFO for the LIFO...
-
Informed consent? A 72-year-old man with multiple sclerosis is hospitalized. His doctor feels he may need to be placed on a feeding tube soon to ensure adequate nourishment. He asks the patient about...
-
Your great-uncle, who is a CPA, is impressed that you are majoring in accounting, but based on his experience, he believes that depreciation is something that companies do based on past practice, not...
-
The adjusted ledger accounts of RD Consulting on December 31, 20X1, appear as follows. Account Name Cash Accounts receivable Supplies Prepaid insurance Equipment Accumulated depreciation Equipment...
-
The following information relates to the year ended 31 July 20*8 for Pauline: stock at 1 August 20*7 429; stock at 31 July 20*8 591; purchases 32,649; sales 71,544. Required Prepare a trading account...
-
List six items of revenue expenditure a supermarket would incur in an average months trading.
-
In Problems 2326, find dy for each function. y 6+zx X
-
What is the logical ending point of a sequential game that starts at position (2,8) with player 1 moving first? Show your work. Player 1 Strategy B Strategy A Strategy A Player 2 Strategy B (3,4)...
-
Problem A-6 Income and Retained Earnings Statements Peanut Corporation is a private corporation using ASPE. At December 31, 2017, an analysis of the accounts and discussions with company officials...
-
8.5 Area Between Curves (dy) Calculus-Calculator Allowed Mastery Check #2 Name: Date: Period: For 1-2, find the area of the region bounded by the following curves. Show the integral set up with...
-
Your company has a travel policy that reimburses employees for the "ordinary and necessary" costs of business travel. Employees often mix a business trip with pleasure by either extending the time at...
-
Simulation A: 1 Diameter 600 mm 2 Focal Length 1800 mm 3 F/D Ratio 3 4 Eyepieces 30 m 5 Barlow? N 6 Celestial Sights M42 - M31 - M51 Simulation B: 1 Diameter 150 mm 2 Focal Length 1800 mm 3 F/D Ratio...
-
What is the shape of the orbit when the velocity of the satellite is everywhere perpendicular to the force of gravity?
-
You purchase a bond with a coupon rate of 6.7 percent, a par value $1,000, and a clean price of $905. Assume a par value of $1,000. If the next semiannual coupon payment is due in two months, what is...
-
Inventories are goods that have been bought for resale that have not yet been sold at the financial year end. True/False?
-
Goods held at the end of a financial year cost $450; they can currently be purchased for $500; they have a resale value of $700. What is the value of closing inventory?
-
A damaged article held at the end of a financial year cost $40; after repairs costing $14 it can be sold for $55. What is the value of the article for inventory purposes?
-
Arnold inc. is considering a proposal to manufacture high end protein bars used as food supplements by body builders. The project requires an upfront investment into equipment of $1.4 million. This...
-
Billy Bob bank has three assets. It has $83 million invested in consumer loans with a 3-year duration, $46 million invested in T-Bonds with a 12-year duration, and $69 million in 6-month (0.5 years)...
-
Ventaz Corp manufactures small windows for back yard sheds. Historically, its demand has ranged from 30 to 50 windows per day with an average of 4646. Alex is one of the production workers and he...
Study smarter with the SolutionInn App