From the following balance extracted from the books of M/sS.k.Sharma, prepare a Trading, profit & Loss A/c, for the yearending 31.12.2015.Particulars(マ)Particulars(マ)750Opening StockSalesSalaries1,25011,800667Discount (Dr.)WagesReturn inwards3281,5891,6598,679180DepreciationCommission (Cr.) 211Insurance380PurchasesCarriage inwardFurniture charges 670Printing ChargesCarriage outwardReturn outward300Bad debtsClosing stock3,7004812001,380

The trading account of a firm includes all the production costs and results in gross profit or loss…

From the following balance extracted from the books of M/s S.k.Sharma, prepare a Trading, profit & Loss A/c, for the year ending 31.12.2015. Particulars (3) Particulars (7) 750 Opening Stock Sales Salaries Discount (Dr.) Wages Return inwards Purchases Bad debts 1,250 11,800 667 328 Depreciation Commission (Cr.) 211 Insurance 1,589 1,659 8,679 180 380 Carriage inward Furniture charges 670 Printing Charges Carriage outward Return outward 300 Closing stock 3,700 481 200 1,380

From the following balance extracted from the books of M/s S.k.Sharma, prepare a Trading, profit & Loss A/c, for the year ending 31.12.2015. Particulars (3) Particulars (7) 750 Opening Stock Sales Salaries Discount (Dr.) Wages Return inwards Purchases Bad debts 1,250 11,800 667 328 Depreciation Commission (Cr.) 211 Insurance 1,589 1,659 8,679 180 380 Carriage inward Furniture charges 670 Printing Charges Carriage outward Return outward 300 Closing stock 3,700 481 200 1,380

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 14P: Gray Company lists the following shareholders equity items on its December 31, 2018, balance sheet:...

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Refer to the information in RE13-11. Assume that on December 31, 2019, the investment in Cornett Company stock has a market value of 10,500. Prepare the year-end journal entry to record the unrealized gain or loss.
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Balance Sheet Calculations Cornerstone Development Companys balance sheet information at the end of 2019 and 2020 is provided in random order, as follows: Additional information: At the end of 2019, (a) the amount of long-term liabilities is twice the amount of current liabilities and (b) there are 2,900 shares of common stock outstanding. During 2020, the company (a) issued 100 shares of common stock for 25 per share, (b) earned net income of 20,600, and (c) paid dividends of 1 per share on the common stock outstanding at year-end. Required: Next Level Fill in the blanks lettered (a) through (p). All of the necessary information is provided. (Hint: It is not necessary to calculate your answers in alphabetical order.)
FROM THE FOLLOWING, CALCULATE PROFITABILITY RATIOS.TRADING AND PROFIT AND LOSS ACCOUNT OF MMR & CO.FOR THE YEAR ENDING 31.12. 2019(HORIZONTAL FORMAT)PARTICULARS $ PARTICULARS $Opening stock 199,000 Sales 1,700,000Purchases 1,119,000 Closing stock 298,000Gross profit 680,0001,998,000 1,998,000Administrationexpenses300,000 Gross profit 680, 000Selling expenses 60,000 Interest 18,000Financeexpenses30,000Loss on sale ofplant8,000Net profit 300,000698,000 698,000