2013 and 2014 Selected Balance Sheet Accounts of Rian Company 12/31/14 12/31/13 Change $9,581 Accounts receivable Inventory Accounts payable $44,369 $53,950 $64,802 $68,836 $4,034 $2,208 $31,973 $29,765 Click on the icon in order to copy its content into a spreadsheet 2014 Selected Income Statement Items for Rian Company $544,000 Cash sales Credit sales $575,000 $1,119,000 $584,583 Total sales Cost of goods sold What is the average production cycle for Rian Company?

2013 and 2014 Selected Balance Sheet Accounts of Rian Company 12/31/14 12/31/13 Change $9,581 Accounts receivable Inventory Accounts payable $44,369 $53,950 $64,802 $68,836 $4,034 $2,208 $31,973 $29,765 Click on the icon in order to copy its content into a spreadsheet 2014 Selected Income Statement Items for Rian Company $544,000 Cash sales Credit sales $575,000 $1,119,000 $584,583 Total sales Cost of goods sold What is the average production cycle for Rian Company?

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter5: Accounting For Retail Businesses

Section: Chapter Questions

Problem 5PA: Multiple-step income statement and balance sheet The following selected accounts and their current...

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Q3: Following is the trial balance of Dhofar Company for the year ended 31st December 2020: Account Debit Credit Owners Equity 48000 Accounts Receivable 17000 Accounts Payable 20000 Notes Payable 4000 Notes Receivable 22000 Bank 38000 4000 Salary expenses 24000 Rent 9000 3000 Insurance expenses 6000 Other Income 14000 Machinery 52000 Buildings 63000 Loan 38000 Sales 194000 Purchases 44000 Sales Return 5000 Purchase Return 24000 Opening Stock 69000 Total 349000 349000 Other information is given: Closing stock is 12000 OMR. Depreciation charges for Building is 10% and Machinery is 20% Required: Income statement as on 31.12.2020 Balance sheet as on 31.12.2020
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Question 1The following information was extracted from the financial statement of Barryfor the year ended 31 December 2020. RMSales 437,500Opening inventories 17,500Closing inventories 26,250Cost of sales 262,500Other income 3,750Expenses 61,250Current liabilities 47,250Trade receivables 39,375Bank 8,750Cash 31,500Required:(a) Show the formulae and compute the value of the following for Barry:(i) Purchases(ii) Gross profit(iii)Net Profit
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