Salaries and wagesMotor expensesRentSundry expensesMotor vehiclesFixtures and fittingsDebtorsCreditorsCash at bankCash in handDrawingsCapitalStock 1 April 20X8SalesPurchasesCarriage inwardsCarriage outwardsReturns outwardsWages and salariesBusiness ratesCommunication expensesCommissions paidInsuranceSundry expensesBuildingsDebtorsCreditorsFixturesStock at 30 April 20X7 was £11,290.9.5A The following is the trial balance of T Owen as at 31 March 20X9. Draw up a set of financialstatements for the year ended 31 March 20X9.Cash at bankCash in handDrawingsCapital41,8009126,80031814,40091223,200Stock at 31 March 20X9 was £58,440.4,10024029,440247,067Dr£52,800141,3001,3505,84063,4003,8007141,9301,830208125,00045,9001,10631,4203,72014,10018,827247,06727637,320Cr514,194£276,4002,40824,870210,516514,194101

Financial statements are those statements which are prepared at the end of accounting period for the…

9.5A The following is the trial balance of T Owen as at 31 March 20X9. Draw up a set of financial statements for the year ended 31 March 20X9. Stock 1 April 20X8 Sales Purchases Carriage inwards Carriage outwards Returns outwards Wages and salaries Business rates Communication expenses Commissions paid Insurance Sundry expenses Buildings Debtors Creditors Fixtures Cash at bank Cash in hand Drawings Capital Stock at 31 March 20X9 was £58,440. Dr £ 52,800 141,300 1,350 5,840 63,400 3,800 714 1,930 1,830 (208) 125,000 45,900 1,106 31,420 276 37,320 Cr 514,194 £ 276,400 2,408 24,870 210,516 514,194

9.5A The following is the trial balance of T Owen as at 31 March 20X9. Draw up a set of financial statements for the year ended 31 March 20X9. Stock 1 April 20X8 Sales Purchases Carriage inwards Carriage outwards Returns outwards Wages and salaries Business rates Communication expenses Commissions paid Insurance Sundry expenses Buildings Debtors Creditors Fixtures Cash at bank Cash in hand Drawings Capital Stock at 31 March 20X9 was £58,440. Dr £ 52,800 141,300 1,350 5,840 63,400 3,800 714 1,930 1,830 (208) 125,000 45,900 1,106 31,420 276 37,320 Cr 514,194 £ 276,400 2,408 24,870 210,516 514,194

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter9: Responsibility Accounting And Decentralization

Section: Chapter Questions

Problem 5PB: Financial information for Lighthizer Trading Company for the fiscal year-ended September 30, 20xx,...

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Financial information for Lighthizer Trading Company for the fiscal year-ended September 30, 20xx, was collected. As part of a management training session, you have been asked to prepare an income statement format that will be used to distribute to management. Subtotals and totals are included in the information, but you will need to calculate the values. A. In the correct format, prepare the income statement using this information: B. Calculate the profit margin, return on investment, and residual income. Assume an investment base of $42,000 and 8% cost of capital. C. Prepare a short response to accompany the income statement that explains why uncontrollable costs are included in the income statement.
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