1- Prepare a Manufacturing account for the year ended 31 December 2017 2- Prepare a Trading account for the year ended 31 December 2017 RM 1 January 2017, Stock of raw materials 31 December 2017, Stock of raw materials 1 January 2017, Work in progress 31 December 2017, Work in progress 800 1,050 350 420 Year to 31 December 2017: Wages : Direct : Indirect 3,960 2,550 Purchase of raw material 8,700 Fuel and power Direct expenses Lubricants 990 140 300 Carriage inwards on raw materials Rent of factory Depreciation of factory plant & machinery Internal transport expenses Insurance of factory buildings and plant General factory expenses 1 January 2017, Stock of finished goods 31 December 2017, Stock of finished goods Sales of finished goods 200 720 420 180 150 330 3,500 4,400 25,000
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- 1. Jorasmi Enterprise Trial Balance as at 31 December 2020 Particulars Debit RM Credit RM Inventory of raw materials 1 Jan 2020 21,000 Inventory of finished goods 1 Jan 2020 38,900 Work in progress 1 Jan 2020 13,500 Wages (direct RM180,000, factory indirect RM145,000) 325,000 Royalties 7,000 Carriage inwards (on raw materials) 3,500 Purchases of raw materials 370,000 Productive machinery (cost RM280,000) 230,000 Administration computers (cost RM20,000) 12,000 General factory expenses 31,000 Lighting 7,500 Factory power 13,700 Administration salaries 44,000 Sales representative salaries 30,000 Commission on sales 11,500 Rent 12,000 Insurance 4,200 General administration expenses 13,400 Bank charges 2,300 Discount allowed 4,800 Carriage outwards 5,900 Sales…Jorasmi Enterprise Trial Balance as at 31 December 2020 Particulars Debit RM Credit RM Inventory of raw materials 1 Jan 2020 21,000 Inventory of finished goods 1 Jan 2020 38,900 Work in progress 1 Jan 2020 13,500 Wages (direct RM180,000, factory indirect RM145,000) 325,000 Royalties 7,000 Carriage inwards (on raw materials) 3,500 Purchases of raw materials 370,000 Productive machinery (cost RM280,000) 230,000 Administration computers (cost RM20,000) 12,000 General factory expenses 31,000 Lighting 7,500 Factory power 13,700 Administration salaries 44,000 Sales representative salaries 30,000 Commission on sales 11,500 Rent 12,000 Insurance 4,200 General administration expenses 13,400 Bank charges 2,300 Discount allowed 4,800 Carriage outwards 5,900 Sales 1,000,000 Account…Jorasmi Enterprise Trial Balance as at 31 December 2020 Particulars Debit RM Credit RM Inventory of raw materials 1 Jan 2020 21,000 Inventory of finished goods 1 Jan 2020 38,900 Work in progress 1 Jan 2020 13,500 Wages (direct RM180,000, factory indirect RM145,000) 325,000 Royalties 7,000 Carriage inwards (on raw materials) 3,500 Purchases of raw materials 370,000 Productive machinery (cost RM280,000) 230,000 Administration computers (cost RM20,000) 12,000 General factory expenses 31,000 Lighting 7,500 Factory power 13,700 Administration salaries 44,000 Sales representative salaries 30,000 Commission on sales 11,500 Rent 12,000 Insurance 4,200 General administration expenses 13,400 Bank charges 2,300 Discount allowed 4,800 Carriage outwards 5,900 Sales 1,000,000 Account…
- If answered within 30mins,it would be appreciable!!! Q3. XYZ Company has the following financial data: Particulars Amounts (SAR) Total Profit for the Year 377,500 General Takaful Assets (Year 2014) 1,390,000 General Takaful Assets (Year 2015) 1,517,500 Cash 11,500 Short-term Investment 23,500 Short term liabilities 85,000 Underwriting Surplus Distributable to Participants/Participants' Share of Profit 145,500 Gross Contribution 958,000 Net Contribution 662,500 Wakalah Fee 77,500 Commission Paid 28,300 Management Expense 58,000 Net Claim Incurred 287,500 Earned Contribution 632,500 You are required to calculate: Return on Assets Quick Liquidity Surplus Distribution Ratio Expense Ratio Claims Ratio This all question nothing moreThe following trial balance relates to Queenie as at 30 September 2019: RM'000RM'000 Revenue (note (i)) 312,890 Cost of sales 148,900 Distribution costs 42,125 Administrative expenses (note (ii))34,680 Loan note interest and dividend paid (notes (ii) and (iii)) 19,500 Investment income3200 Equity shares of 25 cents each 50,000 5% loan note (note (ii)) 30,000 Retained earnings at 1 October 20187,300 Plant and equipment at cost (note (iv)) 90,000 Accumulated depreciation at 1 October 2018: plant and equipment 32,400 Equity financial asset investments (note (v))40,000 Inventory at 30 September 201930,040 Trade receivables 42,900 Bank10,845 Current tax (note (vi)) 1,100 Deferred tax (note (vi)) 900 Trade payables23,400 460090460090 The following notes are relevant: (i) On 1 October 2018, Queenie sold one of its products for RM12 million (included in revenue in the trial balance). As part of the sale agreement, Queenie is committed to the ongoing servicing of this product until 30…Brick & StoneIncome Statement for the year ended 31 December 2016 Notes $ $Sales 2,500,000Cost of Sales 1 1,100,000Gross Profit 1,400,000ExpensesSalaries & Wages 2 760,000Employer NIS Contribution 2,400Rent and Rates 3 240,000Insurance 50,000Maintenance 120,000Depreciation 4…
- Research and Development ExpenseInternational Business Machines Corporation (IBM) reported the following on its 2018 form 10‑K. $ millions 2018 2017 2016 Total revenue $79,591 $79,139 $79,919 Research, development and engineering expense 5,379 5,590 5,726 Number of new patents awarded 9,100 9,043 8,088 b. Compute the research, development and engineering expense per new patent for each year. What pattern do we observe?Note: Round percentage to one decimal places (for example, enter 6.7% for 6.6555%). 2018 2017 2016 RD&E per patent as a percentage Answer Answer AnswerWhat is Yahoo’s common-sized product development expense for 2017? (Rounded to two decimal places, in percentage format). $ in millions Dec 31, 2017 Dec 31, 2016 Total Assets $17,103.30 $16,805.00 Revenues 4,984.20 4,986.60 Product development exp 919.40 885.80 Operating Expense 3,102.00 3,007.80 Net Income $1,048.80 $1,093.00Research and Development ExpenseInternational Business Machines Corporation (IBM) reported the following on its 2018 form 10‑K. $ millions 2018 2017 2016 Total revenue $79,591 $79,139 $79,919 Research, development and engineering expense 5,379 5,590 5,726 Number of new patents awarded 9,100 9,043 8,088 Requireda. Calculate IBM’s common‑size research, development and engineering expense for each year. What pattern do we observe?Note: Round percentage to one decimal places (for example, enter 6.7% for 6.6555%). 2018 2017 2016 RD&E expense common-size Answer Answer Answer
- Brick & StoneIncome Statement for the year ended 31 December 2016Notes $ $Sales 2,500,000Cost of Sales 1 1,100,000 Gross Profit 1,400,000ExpensesSalaries & Wages 2 760,000Employer NIS Contribution 2,400 Rent and Rates 3 240,000Insurance 50,000Maintenance 120,000Depreciation 4 55,000Loss on Disposal of Vehicle 5 10,000Telephone 6 35,000Electricity 7 54,000Utilities 70,000Entertainment 8 100,000Donations 9 85,000Provision for Bad Debts 10 80,000Fines and Penalties 11 15,000Drawings 105,000 1,781,400 Net Profit/ (Loss) (381,400)Brick & StoneNotes to the Income Statement1. The Cost of Sales includes goods valuing $250,000 that were purchased for Mr. Stone’s personal use.2. Salaries and Wages include $25,000 per month, and $20,000 per month, paid to Mr. Stone and Mr. Brick respectively.3. $65,000 of the rent relates to the private dwelling of Mr. Brick’s wife.4. As at the 31 December 2021, the business recorded the following assets in its books:Assets Cost Reducing Balance…Roger Inc. began work in 2021 on a contract for $8,400,000. Other data are as follows: 2021 2022 Costs incurred to date $3,600,000 $5,600,000 Estimated costs to complete 2,400,000 — Billings to date 2,800,000 8,400,000 Collections to date 2,000,000 7,200,000 Roger uses the percentage-of-completion method. Calculate the gross profit to be recognized in 2021.Financial information for Sarfaraz Co. is presented below December 31. 2018 December 31, 2017 Current Assets RS. 128,000 Rs. 100,000 Plant Assets 396,000 330,000 Current Liabilities 91,000 70,000 Long- Term Liabilities 138,700 95,000 CommonStockRs.1 par 159,000 115,000 Retained Earning 135,300 150,000 Required: Prepare a schedule showing a horizontal analysis 2018 using 2017 as the base year