Klassy Kicks has two departments. The following information is provided for the year ended 31 December 2013: Adults Teenagers $ %$4 Stock 1 January 2013 Purchases 35 000 30 000 105 000 - 45 000 185 000 Stock 31 December 2013 50 000 Auywer 225 000 7 000 5 000 Sales 315 000 8 000 5 000 Returns Outwards Returns Inwards Wages of assistants 28 000 50 000 The following expenses cannot be traced to any particular department: 2$ Rent 9 000 Selling expenses Electricity 48 400 6 000 Insurance 2 000 ADDITIONAL INFORMATION: (1) (2) (3) (4) (5) Floor space is taken up – Teenagers 700 sq. ft. and Adults 1 300 sq. Rent is to be shared on the basis of floor space ft. Selling expenses are to be shared in the ratio of turnover Insurance are to be shared in the ratio of turnover Electricity expense is to be shared in the ratio of turnover
Klassy Kicks has two departments. The following information is provided for the year ended 31 December 2013: Adults Teenagers $ %$4 Stock 1 January 2013 Purchases 35 000 30 000 105 000 - 45 000 185 000 Stock 31 December 2013 50 000 Auywer 225 000 7 000 5 000 Sales 315 000 8 000 5 000 Returns Outwards Returns Inwards Wages of assistants 28 000 50 000 The following expenses cannot be traced to any particular department: 2$ Rent 9 000 Selling expenses Electricity 48 400 6 000 Insurance 2 000 ADDITIONAL INFORMATION: (1) (2) (3) (4) (5) Floor space is taken up – Teenagers 700 sq. ft. and Adults 1 300 sq. Rent is to be shared on the basis of floor space ft. Selling expenses are to be shared in the ratio of turnover Insurance are to be shared in the ratio of turnover Electricity expense is to be shared in the ratio of turnover
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Can you prepare a departmental account for the information.
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