Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I need the answer as soon as possible G Club is a manufacturer of spare parts and the following balances were some of those appearing
I need the answer as soon as possible
G Club is a manufacturer of spare parts and the following balances were some of those appearing in his books at 31 December year 4. $ 56,932 11,000 16,000 20,090 17,000 18,000 18,040 Capital Inventories at 1 January year 4 Raw materials Work in progress Finished goods Inventories at 31 December year 4 Raw materials Work in progress Finished goods Wages Direct manufacturing Factory supervisors General office Warehouse Direct factory power Heating and lighting Purchase of raw materials Carriage outwards Plant and machinery Premises Returns inwards Office equipment Rent Administrative expenses Receivables Payables Cash in hand Sales Bank overdraft 203,080 13,325 10,200 19,300 95,000 9,000 256,000 986 80,000 120,000 420 15,000 6,000 1,800 14,000 12,000 3,662 800,290 25,641 For the year ended 31 December year 4, you are required to prepare: (a) the income statement of G Club; (b) the statement of financial position of G Club. The costs of heating and lighting, and rent are to be apportioned as follows: factory 1/2, warehouse 1/3, offices 1/6 G Club is a manufacturer of spare parts and the following balances were some of those appearing in his books at 31 December year 4. $ 56,932 11,000 16,000 20,090 17,000 18,000 18,040 Capital Inventories at 1 January year 4 Raw materials Work in progress Finished goods Inventories at 31 December year 4 Raw materials Work in progress Finished goods Wages Direct manufacturing Factory supervisors General office Warehouse Direct factory power Heating and lighting Purchase of raw materials Carriage outwards Plant and machinery Premises Returns inwards Office equipment Rent Administrative expenses Receivables Payables Cash in hand Sales Bank overdraft 203,080 13,325 10,200 19,300 95,000 9,000 256,000 986 80,000 120,000 420 15,000 6,000 1,800 14,000 12,000 3,662 800,290 25,641 For the year ended 31 December year 4, you are required to prepare: (a) the income statement of G Club; (b) the statement of financial position of G Club. The costs of heating and lighting, and rent are to be apportioned as follows: factory 1/2, warehouse 1/3, offices 1/6Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started