The accounting information collected from the MCM company is detailed in the attached tables. Prepare the following: a-General Balance as of September 30, 2010 b- Statement of the cost of goods sold for the month of September 2010 c-Income statement for the month of September 2010 d-Calculate the following financial ratios: Current ratio, acid test ratio, participation ratio, profit margin. Financial information was collected for the month of September 210 for the company MCM. Balance Bills to pay $35000 receivable accounts $29000 bonds payable $110000 buildings (net value) $605000 cash on hand $17000 dividends payable $8000 inventary $31000 terrain $450000 long-term mortgage payable $450000 retained earnings $154000 stock values $375000 transaction in september 2010 category Amount workforce $50000 bills insurance $20000 sales $62000 rent and maintenance $40000 salary $110000 others $62000 total $294000 income taxes $20000 finished goods inventory as of September 1, 2010 $25000 finished goods inventory as of September 30, 2010 $50000 materials inventory as of September 1, 2010 $46000 materials inventory as of September 30, 2010 $25000 Purchasing of materials $20000 indirect costs of manufacturing $75000 sales income $500000

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business

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Problem 4SEA: FINANCIAL RATIOS Based on the financial statements for Jackson Enterprises (income statement,...

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The accounting information collected from the MCM company is detailed in the attached tables. Prepare the following:
a-General Balance as of September 30, 2010
b- Statement of the cost of goods sold for the month of September 2010
c-Income statement for the month of September 2010
d-Calculate the following financial ratios: Current ratio, acid test ratio, participation ratio, profit margin.

Financial information was collected for the month of September 210 for the company MCM.

	Balance
Bills to pay	$35000

receivable accounts	$29000
bonds payable	$110000
buildings (net value)	$605000
cash on hand	$17000
dividends payable	$8000
inventary	$31000
terrain	$450000
long-term mortgage payable	$450000
retained earnings	$154000
stock values	$375000

transaction in september 2010

category		Amount
workforce		$50000
bills
insurance	$20000
sales	$62000
rent and maintenance	$40000
salary	$110000
others	$62000
total		$294000
income taxes		$20000
finished goods inventory as of September 1, 2010		$25000
finished goods inventory as of September 30, 2010		$50000
materials inventory as of September 1, 2010		$46000
materials inventory as of September 30, 2010		$25000
Purchasing of materials		$20000
indirect costs of manufacturing		$75000
sales income		$500000

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