Question
The following accounts from adjusted general ledger for a company on 31 December 2019 (amounts in thousands) Amount Amount Account 565000 Sales 1500 Commission agents
The following accounts from adjusted general ledger for a company on 31 December 2019 (amounts in thousands)
| Amount | Amount | Account |
|
| 565000 | Sales |
| 1500 |
| Commission agents |
| 65000 |
| cash |
| 13200 |
| advertising |
| 24000 |
| debtors |
|
| 22100 | creditor |
| 2100 |
| Bad debts |
| 6300 |
| sales management asset depreciation expenses |
| 304600 |
| cost of sales |
| 3400 |
| out-of-country transportation expenses (sales transfer) |
|
| 2300 | Car Sales Gains |
| 450 |
| Stationery |
| 3600 |
| Sales men salaries |
|
| 5800 | Insurance payable |
|
| 75000 | Bond loan |
| 110000 |
| land |
|
| 49150 | Share capital |
| 95000 |
| buildings |
|
| 40000 | Accumulated depreciation of building |
|
| 3100 | Building Sales Gains |
| 35000 |
| Furniture |
|
| 2000 | Accumulated depreciation of Furniture |
| 55000 |
| cars |
|
| 3000 | Accumulated depreciation of cars |
| 23700 |
| Salaries |
|
| 25400 | Notes payable |
| 50000 |
| Bank account |
| 792850 | 792850 | Total |
Prepare the following:
- Income statement for year end 31 December 2019
- Balance sheet for the year ended 31 December 2019.
- Calculate five of the financial ratios studied during the semester
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Cost Accounting Theory And Practice
Authors: R. Palaniappan, N. Hariharan
1st Edition
9380578342, 978-9380578347
