Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mary May manages her own flower shop trading as Beauty In All. She is concerned about her cash flow. She provides the following information.

image text in transcribedimage text in transcribedimage text in transcribed

Mary May manages her own flower shop trading as Beauty In All. She is concerned about her cash flow. She provides the following information. Beauty In All Income Statement for the year ended 30 June 2021 Sales Cash Credit Less Cost of Goods Sold Opening Stock Purchase (Credit) Cartage inwards Less Closing Stock Gross Profit Add Other Revenue Discount Revenue 450 000 240 000 690 000 80 000 565 000 5000 650 000 96.000 554.000 136 000 1.200 137 200 Less Selling Expense Advertising Sales wages Depreciation on Delivery Van Less Administrative Expense Depreciation on Fixtures Insurance Less Finance Expense Bad Debts Discount Allowed Net Profit 11 000 74 000 4.000 89000 5 000 3.000 8.000 6000 1.000 7.000 33 200 Beauty In All Comparative Balance Sheets as at 30 June 2021

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

Financial and Managerial Accounting Information for Decisions

Authors: John Wild, Ken Shaw, Barbara Chiappetta

6th edition

78025761, 978-0078025761

More Books

Students also viewed these Accounting questions

Question

What is a lobbyist in US? How did this term emerge?

Answered: 1 week ago