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Both are same question. Please answer all of it. Thank you QUESTION 4 (20 POINTS) The inventory records of Duru Company reflected the following information
Both are same question. Please answer all of it. Thank you
QUESTION 4 (20 POINTS) The inventory records of Duru Company reflected the following information for the month of September; Date 1 3 Transaction Beginning Inventory Purchase Number of Units 200 Unit Cost TL 10 8 300 5 11 30 Sale Purchase Sale 250 500 400 14 Assuming that unit selling price is 20 TL please determine the amount of ending merchandise inventory at the end of September and cost of goods sold and gross profit for the month September under FIFO method. (You do not have to make the journal entries). Purchase COGS Inventory on Hand Date 01.09 03.09 05.09 11.09 30.09 II COMPREHENSIVE PROBLEM: Using the information below prepare a statement of cash flows for Bodrum Company for the year 2010 in GOOD format (30 POINTS) Bodrum Company Information from Comparative Balance Sheets as of December 31 2010 2009 change Accounts with Debit Balances TL TL Buildings 285,000 190,000 95,000 Cash 32,500 44,500 (12,000) 287,500 120.000 35.000 Equipment Inventories Land Prepaid Expenses Accounts Receivables (net) Short term Financial Investments 260.000 105,400 30,000 71.750 46.600 2.250 27,500 14,600 5,000 (70.500) (6,700) 45.250 119,150 39.900 45.250 847.400 0 748,250 (23,500) 7.500 9.650 Accounts with Credit Balances Accounts Payable Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Additional Paid-in Capital Bank loans Common Stock Income Tax Payable Note Payable (Long term note given for the land and building) Retained Earnings 34.000 60.500 90.400 43.000 150.000 270.000 20.500 57.500 53.000 80.750 35.000 200.000 250.000 11.000 8.000 (50,000) 20.000 9.500 80.000 99.000 847.400 0 61.000 80.000 38.000 119,150 748,250 Income Statement Accounts for the year 2010; Sales Cost of Goods Sold Depreciation Other Expenses Gain on Sale of Assets Net Income TL 945,400 (667.500) (32.150) (198,750) 21.000 68,000 Additional information; a. Short term financial investments were purchased for TL 45.250 cash 6. The company sold equipment with cost of TL 25,000 and accumulated depreciation of TL 15,000 with sales price as of TL 30.000 for cashand purchased new equipment for cash c. A building valued at TL 95,000 and land valued at TL 5,000 was purchased by a cash payment of TL 20.000 and issuance of a five year note payable for the rest, d. Issued and sold common stocks to increase capital e, Declared and paid cash dividends of TL 30.000 f. Paid back bank loan STATEMENT OF CASH FLOWS FOR THE YEAR 2010 BODRUM COMPANY Cash Flows from Operating Activities; Cash Flows from Investing Activities; Cash Flows from Financing ActivitiesStep by Step Solution
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