INCOME STATEMENT FOR ALPINE TRADERS FOR 3 MONTHS Coot of nalesariesuranceFuelRepairsDepreciationBank chargesAdvertisingR600 000300 00075 0005 00015 0003 75011 2501 25010 00007 to 28 February 20 8.Limited on 30 November 20 7810 000490 000320 00027 000117 0003 60036 00027 000The 20.7 sales figure for the first six months of the year, will be the same as theaverage sales figure of the previous year. The profit margin will remain the same asfor 20.7/2 After negotiations with the Trade Unions, it is expected that salaries will10%, from 1 March 20.7.increase by3. The Insurance Company notified the business that the insurance premium willincrease by R1000 for the year.4. It is expected that the price of fuel will increase by 20% as from 1 March 20.7.s, the sales for Decemberary and February 20.8 areevious nine months..be 100%5. No significant increase is expected in the cost of repairs.6. Depreciation remains unchanged.e by the R8 000 to be7/ Bank charges will increase by 14% from 1 March 20.7.ner expenses8. Cost of advertising must be increased to equal 4% of the 20.7/ 20.8 sales.are wYear.20.8.January 20.8.nt on advertisingACTIVITY 7.18INSTRUCTION31 DecemberUse the information to prepare a Projected Income Statement for March 20.7.NB. All calculations to be rounded off to the nearest rand.2 000 for 20.8.O during 20.8.INFORMATION;On 28 February 20.7, the end of the financial year, the following balances and totalsappeared in the books of Rhodes Traders.Nominal accounts sectionSalesCost of salesSalariesInsuranceFuelRepairsDepreciationBank chargesAdvertisingR600 000300 00075 0005 00015 0003 75011 2501 25010 000Income Statement forebruary 20.8.on 30 November 20.7.The following forecasts were made for the 20.7 / 20.8 financial year:

Income Statement: It discloses the financial performance of an enterprise and shows profit or…

Year. 20.8. January 20.8. t on advertising ACTIVITY 7.18 INSTRUCTION 31 December kre the information to prepare a Projected Income Statement for March 20.7. e000 for 20.8. NB. All calculations to be rounded off to the nearest rand. during 20.8. INFORMATION; On 28 February 20.7, the end of the financial year, the following balances and appeared in the books of Rhodes Traders. Nominal accounts section Sales Cost of sales Salaries Insurance Fuel Repairs Depreciation Bank charges Advertising R600 000 300 000 75 000 5 000 15 000 3 750 11 250 1 250 10 000 Income Statement for pruary 20.8. en 30 November 20.7. The following forecasts were made for the 20.7 / 20.8 financial year:

Year. 20.8. January 20.8. t on advertising ACTIVITY 7.18 INSTRUCTION 31 December kre the information to prepare a Projected Income Statement for March 20.7. e000 for 20.8. NB. All calculations to be rounded off to the nearest rand. during 20.8. INFORMATION; On 28 February 20.7, the end of the financial year, the following balances and appeared in the books of Rhodes Traders. Nominal accounts section Sales Cost of sales Salaries Insurance Fuel Repairs Depreciation Bank charges Advertising R600 000 300 000 75 000 5 000 15 000 3 750 11 250 1 250 10 000 Income Statement for pruary 20.8. en 30 November 20.7. The following forecasts were made for the 20.7 / 20.8 financial year:

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 83E

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Purnima ltd presents the following trial balance for the year ending March 31, 2010. Prepare final accountsTrial Balance as on March 31, 2020.Table from Stock 75,000 Sales 3,50,000 Purchases 2,45,000 Commission received 5,000 Production Wages 50,000 Profit and loss A/c (1/4/09) 15,030 Discount 7,000 Capital (10,000 equity shares of Rs 10 each fully paid ) 1,00,000 Salaries 7,500 Accounts Payables Creditors 17500 Rent 4,950 General reserve 15,500 Insurance 17,050 Dividend paid (2009) 5,000 Interim Dividend 4,000 Account receivables (debtors ) 37,500 Machinery 29,000 Cash and Bank Balance 16,200 Loan to director 3,250 Bad debts 1,580 5,03,030 5,03,030 Prepare and Analyse the Balance sheet of Purnima ltd as per Schedule III,Adjustments:1. Depreciate machinery by 10 %,2. further bad debts Rs 500,3.…
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