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Ill give Upvote The accounting information collected from the MCM company is detailed in the attached tables. please make the financial statements in table form
Ill give Upvote The accounting information collected from the MCM company is detailed in the attached tables.
please make the financial statements in table form
Prepare the following: a-Balance Sheet at the end of September 30, 2010 b-Status of the cost of the merchandise sold for the month of September 2010 c-Income statement for the month of September 2010 d-Calculate the following financial ratios: current ratio, acid test ratio, participation ratio, profit margin.
Current Situation September 30 2010 | |
Account | Balance |
Debts to pay | $35 000 |
Accounts receivable | $29 000 |
Bonuses Payable | $110 000 |
Buildings (net value) | $605 000 |
Money on Box | $17 000 |
Dividends payable | $8 000 |
Inventory (all) | $31 000 |
Land (terrain) | $450 000 |
Long-term mortgage payable | $450 000 |
Retained Utility | $154 000 |
Stock Value | $375 000 |
Transactions for September 2010 | ||
Category | Amount | |
Direct Labor Force | $50 000 | |
Expenses | ||
Insurance | $20 000 | |
Sales | $62 000 | |
Rental and maintenance | $40 000 | |
Wages | $110 000 | |
Other | $62 000 | |
Total | $294 000 | |
Income Tax | $20 000 | |
Inventory of finished product as of September 1,2010 | $25 000 | |
Inventory of finished product September 30, 2010 | $ 50 000 | |
Inventory of materials as of September 1, 2010 | $46 000 | |
Inventory of materials as of September 30, 2010 | $25 000 | |
Purchasing of Materials | $20 000 | |
indirect manufacturing costs | $75 000 | |
Sales Income | $500 000 | |
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