Question 1: The following are related transactions of YZX manufacturing company. Particulars Raw materials purchase from...

Transcribed Image Text:

Question 1: The following are related transactions of YZX manufacturing company. Particulars Raw materials purchase from suppliers Wages to productive workers Stock of raw material (1-1-19) Stock of raw material (31-12-19) Stock of finished goods (1-1-19) Stock of finished goods(31-12-19) Stock of work-in-process(1-1-19) Stock-of work-in-process(31-12-19) Selling expense Repair and maintenance Sales to customers Freight in Amt ($) 1,89,000 52,500 95,000 91,500 84,000 71,000 48,000 45,000 11,400 18,000 7,11,000 21,000 Factory rent and power 21,500 Outward return 9,000 Discount to customers 10,000 Wages to unproductive labour 53,750 supplies 24,000 Depreciation of plant & machinery 31,500 Direct chargeable expense 21,500 Sundry factory expenses 1,10,000 Salesman's salaries & commission 36,500 Inward return Discount from suppliers Office rent Sundry office expenses 11,500 8,000 22,500 11,500 23,500 12,500 Advertisement expense Carriage outward Required: (a) Prepare Three statement (i) (ii) (!!!) Cost of goods sold statement Cost sales statement Income statement (Marks 4.5+4.5+3=12) Question 1: The following are related transactions of YZX manufacturing company. Particulars Raw materials purchase from suppliers Wages to productive workers Stock of raw material (1-1-19) Stock of raw material (31-12-19) Stock of finished goods (1-1-19) Stock of finished goods(31-12-19) Stock of work-in-process(1-1-19) Stock-of work-in-process(31-12-19) Selling expense Repair and maintenance Sales to customers Freight in Amt ($) 1,89,000 52,500 95,000 91,500 84,000 71,000 48,000 45,000 11,400 18,000 7,11,000 21,000 Factory rent and power 21,500 Outward return 9,000 Discount to customers 10,000 Wages to unproductive labour 53,750 supplies 24,000 Depreciation of plant & machinery 31,500 Direct chargeable expense 21,500 Sundry factory expenses 1,10,000 Salesman's salaries & commission 36,500 Inward return Discount from suppliers Office rent Sundry office expenses 11,500 8,000 22,500 11,500 23,500 12,500 Advertisement expense Carriage outward Required: (a) Prepare Three statement (i) (ii) (!!!) Cost of goods sold statement Cost sales statement Income statement (Marks 4.5+4.5+3=12)