Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi, I am really confused in this excerise and I need help. To figure out the income statement(profit/loss account) and also to correctly match the

Hi, I am really confused in this excerise and I need help. To figure out the income statement(profit/loss account) and also to correctly match the balance sheet. Can anyone help me please solve this out as soon as possible? Would highly appreciate it also if some steps were also explained if possible. Thank you. I have attached all pictures needed.image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed Accounts payable \begin{tabular}{|l|r|} \hline & 2410 \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Inventory \begin{tabular}{|l|l|} \hline 2600 & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Own capital \begin{tabular}{|l|l|} \hline & 2500 \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Purchase 24% \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Accounts receivable \begin{tabular}{|c|c|} \hline \begin{tabular}{|l|} 1250 \\ \end{tabular} & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline \multicolumn{2}{l}{ Loan } \\ \hline & 5100 \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Purchase 14\% \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} \begin{tabular}{|l|l|} \multicolumn{2}{c}{ INCOME } \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} BALANCE \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Purchase 10% \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Sales 10% \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Cash \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Sales 24% \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Depreciation \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Input VAT \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Sales 14% \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Variation in inventory \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Output VAT \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Accounts payable \begin{tabular}{|l|r|} \hline & 2410 \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Inventory \begin{tabular}{|l|l|} \hline 2600 & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Own capital \begin{tabular}{|l|l|} \hline & 2500 \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Purchase 24% \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Accounts receivable \begin{tabular}{|c|c|} \hline \begin{tabular}{|l|} 1250 \\ \end{tabular} & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline \multicolumn{2}{l}{ Loan } \\ \hline & 5100 \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Purchase 14\% \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} \begin{tabular}{|l|l|} \multicolumn{2}{c}{ INCOME } \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} BALANCE \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Purchase 10% \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Sales 10% \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Cash \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Sales 24% \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Depreciation \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Input VAT \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Sales 14% \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Variation in inventory \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Output VAT \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular}

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_2

Step: 3

blur-text-image_3

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

The Myth Of Measurement Inspection Audit Targets And The Public Sector

Authors: Nick Frost

1st Edition

1529732662, 978-1529732665

More Books

Students also viewed these Accounting questions