Q1The following are some of balances of theledger for Ali Company at 31\12\2000. sales119000, interest received 14000, loss ofselling furniture 10000, advertising 20000,Gain on sold stock 35000, interest expense15000, beginning inventory 70000, Officesalaries 3500, purchase 20000, freight out2500 purchases return 5000, purchasesdiscount 5000, building 100000, Salaries40000, sales discount 7000, notes payable50000,bills payable 60000, freight in 2000,wages 20000, sales return 12000,investment revenues 25000, ending?inventory 20000.1-net purchasesNO O105001100010000

All the expenses is debited. All the incomes or revenues are to be credited. Thus, The difference is…

ledger for Ali Company at 31\12\2000. sale 119000, interest received 14000, loss selling furniture 10000, advertising 2000 Gain on sold stock 35000, interest expens 15000, beginning inventory 70000, Ofic salaries 3500, purchase 20000, freight o 2500 purchases return 5000, purchase discount 5000 building 10 0000 O Salari

ledger for Ali Company at 31\12\2000. sale 119000, interest received 14000, loss selling furniture 10000, advertising 2000 Gain on sold stock 35000, interest expens 15000, beginning inventory 70000, Ofic salaries 3500, purchase 20000, freight o 2500 purchases return 5000, purchase discount 5000 building 10 0000 O Salari

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Financial information is presented below: Operating expenses $ 33000 Sales revenue 211000 Cost of goods sold 129000 Gross profit would be $178000. $ 82000. $ 33000. $ 49000.
Sub : FinancePls answer very fast.I ll upvote CORRECT ANSWER . Thank You ( dnt use CHATGPT)
Sub : FinancePls answer very fast.I ll upvote CORRECT ANSWER . Thank You ( dnt use CHATGPT)
Inventory $5000. Net Fixed Asset-50000 Accounts rec=$800 Cash= 1000 Accts payable=4500 How much is total current assets?
from the following tralasaction, prepar in come Statement Sales reven ue tinished Goeds 50006 Net purchases lo o00 rent expenses 250 000 returns sales lo o 00 3000 So00 6 vent revenue administrutive Expensese 2e0 Sales salaries looo Depreriation other expensese tax income tooo t500-6 finished goads 34 7o00 . tooo
Goods sent on consignment R760 000. Opening consignment stock R48 000. Cash sales R700 000. Consignor’s expenses R20 000. Consignee’s expenses R12 000. Commission R20 000. Closing consignment stock R300 000. The profit on consignment is________. Select one: a. R150 000 b. R140 000 c. R92 000 d. R456 000
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The selling expenses 440 000 ID. administrative expenses 240 000 ID., income from operating 630 000 ID., other expenses and losses 90 000 ID., income tax 40 000 ID., cost of purchases 180 000 ID., the net income for the year is 680 000 ID. O 760 000 ID. 940 000 ID. O 500 000 ID. no one.
Income statement 2021 £,000 Sales 7000 Cost of sales -3000 Gross profit 4000 Administration and distribution expenses -1000 Interest payable -500 Dividend received 600 Profit before tax 3100 Taxation -1000 Profit after tax 2100 Balance Sheet 2021 2020 £'000 £'000 £'000 £'000 Assets: Non-Current Assets Property, plant and equipment 13000 10000 Investment 3000 3000 16000 13000 Current Assets Inventories 5500 5000 Trade receivables 2500 4500 Cash at bank 1000 9000 0 9500 Total Assets 25000 22500 Equity and Liabilities: Share capital 6000 5000 Share premium account 3000 2000 Retained earnings 3900 3000 12900 10000…
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