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Additional Information:
Inventory at 31st December 2017 was $22,700
Required:
1) Prepare the Income Statement for the year ended 31st December 2017.
2) Prepare the Statement Of Financial Position as at 31st December 2017.
1
Rimas Eesa- 0774622742
[Q2]
Additional Information:
Inventory at 31st August 2018 was $26,400
Required:
1) Prepare the Income Statement for the year ended 31stAugust 2018.
2) Prepare the Statement Of Financial Position as at 31stAugust 2018.
2
Rimas Eesa- 0774622742
[Q3]
Additional Information:
Inventory at 31stMarch 2018 was $16,500
Required:
1) Prepare the Income Statement for the year ended 31stMarch 2018.
2) Prepare the Statement Of Financial Position as at 31stMarch 2018.
3
Rimas Eesa- 0774622742
[Q4] The following information is available for the year ended 31st May 2018:
$
Cash 23,800
Bank overdraft 9,000
Carriage Inwards 3,600
Carriage Outwards 6,000
Trade Receivables 31,000
Trade Payables 24,000
Revenue 164,700
Returns Outwards 4,500
Inventory at 1st June 2017 40,000
Purchases 71,000
Returns Inwards 1,200
Discount Received 1,800
Rent and Rates 5,700
Wages 12,300
Electricity 8,400
Drawings 11,900
Premises at Cost 60,000
Equipment at Cost 22,000
Fixtures and Fittings at Cost 32,000
Capital 57,000
5% Bank Loan 74,000
Interest Paid 3,700
Advertising expenses 1,300
General Expenses 1,100
Additional Information:
Inventory at 31st May 2018 was $37,600.
Required:
1) Prepare the Income Statement for the year ended 31st May 2018.
2) Prepare the Statement of Financial Position as at 31stMay 2018.
4
Rimas Eesa- 0774622742
[Q5] The following information is available for the year ended 28th February 2018:
$
Revenue 181,600
Inventory at 1st March 2017 37,400
Commission Received 10,900
Telephone Charges 2,900
7% Bank Loan 170,000
Interest Paid 11,900
Drawings 21,600
Purchase Returns 1,300
Carriage inwards 3,400
Insurance 7,900
Machinery at Cost 56,000
Office Furniture at Cost 47,000
Motor Vehicles at Cost 69,000
Discount Received 1,850
Heating & Light 4,580
Salaries 35,000
Purchases 71,200
Sales returns 1,170
Trade Receivables 47,200
Bank 40,200
Capital 78,700
Trade Payables 42,600
Rent Received 6,900
Rent & Rates 4,500
Marketing Expenses 2,400
Cash 30,500
Additional Information:
Inventory at 28th February 2018 was $40,300.
Required:
1) Prepare the Income Statement for the year ended 28th February 2018.
2) Prepare the Statement Of Financial Position as at 28th February 2018.
5
Rimas Eesa- 0774622742
[Q6] The following information is available for the year ended 31st January 2018:
$
Capital 63,400
Marketing expenses 1,750
Carriage outwards 1,300
Carriage Inwards 900
Returns outwards 1,400
Discount Allowed 550
Discount Received 3,350
Salaries 42,500
Rent Received 6,950
Bank 29,000
st
Inventory at 1 February 2017 11,000
Drawings 16,000
Revenue 123,900
Trade Payables 22,500
Trade Receivables 28,000
Heating and lighting 5,700
Motor Van at Cost 48,000
Office Furniture at Cost 25,000
Cash 21,900
Purchases 61,000
Insurance 6,400
Rent 8,000
5% Bank Loan 90,000
Interest Paid 4,500
Additional Information:
Inventory at 31st January 2018 was $18,800.
Required:
1) Prepare the Income Statement for the year ended 31st January 2018.
2) Prepare the Statement Of Financial Position as at 31st January 2018.
6
Rimas Eesa- 0774622742
[Q7] The following information is available for the year ended 31st July 2018:
$
Trade Payables 35,900
Inventory at 1st August 2017 25,800
Revenue 152,800
Capital 64,600
Returns Inwards 1,200
Bank 46,200
Trade Receivables 55,800
Rent Received 12,400
Returns Outwards 3,000
Cash 23,400
Premises at Cost 70,000
Motor Vehicles at Cost 45,000
Fixtures and fittings at Cost 26,000
General expenses 1,500
Marketing 2,450
Telephone Charges 1,350
Discount Received 900
Discount Allowed 400
Motor vehicle repairs 1,480
Electricity 5,520
Rent 9,700
8% Bank loan 150,000
Interest paid 12,000
Purchases 69,600
Drawings 22,200
Additional Information:
Inventory at 31st July 2018 was $23,400.
Required:
1) Prepare the Income Statement for the year ended 31st July 2018.
2) Prepare the Statement Of Financial Position as at 31st July 2018.
7
Rimas Eesa- 0774622742