Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hey need answer for diploma of accounting. thank you Task 6: The following information has been prepared from the accounting records of Dou bting Ltd

Hey need answer for diploma of accounting. thank you

image text in transcribed
Task 6: The following information has been prepared from the accounting records of Dou bting Ltd for the sixmonths to 30 June 2010. The business uses a periodic inventory system. Accounts receivable: $ Balance 0170172010 178,300 Sales 1,846,500 Inventories 0110172010: Raw Materials 95,940 Factory Supplies 8,440 Finished Goods 174,690 Work in Process 28,650 Factory insurances: Prepaid 0110112010 2,920 Annual Premium paid 0110412010 12,360 Factory Plant & Equipment: At cost 01 {0112010 343,800 Accumulated Depreciation 0110112010 154,710 o Depreciation - Straight-line @ 10% pa. Accounts payable: Balance 011017201 0 45,180 Purchases Raw materials 442,230 - Factory supplies 18,620 - Finished goods 38,730 Payments 317,840 Freight Inwards: Raw materials 15,450 Factory supplies 1,790 Freight outwards 50,060 Wages and salaries: Direct Labour 154,680 Indirect Labour 78,030 Factory Maintenance 11,430 Factory Lighting and Power: Accrued 01/0172010 4,110 Payments 16,750 Other adjustments as at 30 June 2010: $ Inventories - Raw Materials 102,660 - Factory Supplies 9,070 Finished Goods 171,890 Work In Process 37,220 Annual Leave accrued - Factory 16,320 REQUIRED: Prepare the following statements (appropriately classied) for the sixmonths ended 30 June 2010: (a) Manufacturing statement and (b) A Trading statement

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business And Professional Ethics

Authors: Leonard J Brooks, Paul Dunn

8th Edition

1337514462, 9781337514460

More Books

Students also viewed these Accounting questions