Answered step by step
Verified Expert Solution
Question
1 Approved Answer
STAY AT HOME Co. Limited is manufacturing company producing No. Maka in large quantities. The following balances were extracted from its book on 30 september,
STAY AT HOME Co. Limited is manufacturing company producing No. Maka in large quantities. The following balances were extracted from its book on 30 september, 2019 Inventory 01/10/2018 GHE Raw materials 28.800 Work-in-progress 39.000 Finished goods 33,600 Sains (114.000 pieces each) 570,000 Carriage on materials 1.470 General expenses 25,200 Selling espes 51.840 Plan and Machinery 350,280 Land 50,000 Hank overdraft 12.120 Radaming 16 Ondinary share capital 200,000 Iegremum caputil 23,000 Goodwill 10,000 Had debts 830 Tridemobles 16,433 Discount lowed 1.440 Sundry pables 56,636 Trade investments 1540 Advertising 2.350 Discount receved 1920 Cargo 2.280 Production 136.000 Office 4,850 Pantofw matals 168.000 itu tande 9,000 Neede 15.000 Factory 13.600 Office in 10.00 Depreciation of plant and machiners 4.920 Inventory 10/09 2019 Taw materials 35.400 Work-in-pro 19.120 Loon tools 3,000 titional information: 1 During the year 129,000 pieces were complete. The closing inventory of finished products is valued at the cost price per nose maske produced Good manufactured during the year ure to be transferred to the trading account at Ghe 390,000 th Provide for doubtful debts at the rate of 2% of receivables IV. Advertisement was three months prepaid Calculate the net profit for STAY AT HOME Co. Limited for the period
Step 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