Q1. From the following information, prepare a comparative income statement that ended on 31 March 2008 and 31st March 2009 and interpret its financial statement: Particulars To Opening stock To Purchases To Carriage Inward To Gross Profit c/d To Salaries of Staff To Salary of Manager To Insurance To Advertisement Expenses To General Expenses To Interest To Tax Payable To Net Profit b/d 31 st March, 2008 1,50,000 7,70,000 20,000 2,85,000 12,25,000 20,000 5,000 4,000 50,000 75,000 5,000 600 1,40,400 3,00,000 31st March, 2009 (3) 3,00,000 9,80,000 25,000 5,75,000 18,80,000 45,000 15,000 3,500 95,000 85,000 6,000 700 3,39,8000 5,90,000 Particulars By Sales Less: Sales Returns By Closing stock By Gross Profit c/d By Other Incomes 31 st March,2008 10,00,000 50,000 9,50,000 2,75,000 12,25,000 2,85,000 15,000 3,00,000 31st March 2009 15,00,000 20,000 14,80,000 4,00,000 18,80,000 5,75,000 15,000 5,90,000

Q1. From the following information, prepare a comparative income statement that ended on 31 March 2008 and 31st March 2009 and interpret its financial statement: Particulars To Opening stock To Purchases To Carriage Inward To Gross Profit c/d To Salaries of Staff To Salary of Manager To Insurance To Advertisement Expenses To General Expenses To Interest To Tax Payable To Net Profit b/d 31 st March, 2008 1,50,000 7,70,000 20,000 2,85,000 12,25,000 20,000 5,000 4,000 50,000 75,000 5,000 600 1,40,400 3,00,000 31st March, 2009 (3) 3,00,000 9,80,000 25,000 5,75,000 18,80,000 45,000 15,000 3,500 95,000 85,000 6,000 700 3,39,8000 5,90,000 Particulars By Sales Less: Sales Returns By Closing stock By Gross Profit c/d By Other Incomes 31 st March,2008 10,00,000 50,000 9,50,000 2,75,000 12,25,000 2,85,000 15,000 3,00,000 31st March 2009 15,00,000 20,000 14,80,000 4,00,000 18,80,000 5,75,000 15,000 5,90,000

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter1: The Role Of Accounting In Business

Section: Chapter Questions

Problem 1.17E: Financial statements Each of the following items is shown in the financial statements of ExxonMobil...

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