55 ll 6M O & o 0:1P->2 IMG_20210112_07014...Q2)Presented below are certain accounts of Rechard Combany for the year 2017(Amount in Millions).Ending inventoryRental revenues480006500Interest expensesPurchases allowances1270010500Freight-in10100Dividends earned7100082500Administrative expensesSales returnsSales discountsSelling expenses58002130099400SalesIncome tax39000031000Beginning inventory45300Purchases19000017300Purchases discountsIns:-1-Prepare trading account for the year ended in 31\12\2017 .2-Prepare profit and loss account for the year ended in 31\12\2017.

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Description: 55 ll 6M O & o 0:1P->2 IMG_20210112_07014...Q2)Presented below are certain accounts of Rechard Combany for the year 2017(Amount in Millions).Ending inventoryRental revenues480006500Interest expensesPurchases allowances1270010500Freight-in10100Divide

Introduction: Income statement: All revenues and expenses are recorded in Income statement. It tells…

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Accounting

Presented below are certain accounts of Rechard Combany for the year 2017 (Amount in Millions). Ending inventory Rental revenues 48000 6500 Interest expenses Purchases allowances Freight-in Dividends earned Administrative expenses 12700 10500 10100 71000 82500 Sales returns 5800 Sales discounts 21300 Selling expenses Sales 99400 390000 Income tax 31000 Beginning inventory Purchases 45300 190000 Purchases discounts 17300 Ins:- 1-Prepare trading account for the year ended in 31\12\2017. 2-Prepare profit and loss account for the year ended in 31\12\2017.

Presented below are certain accounts of Rechard Combany for the year 2017 (Amount in Millions). Ending inventory Rental revenues 48000 6500 Interest expenses Purchases allowances Freight-in Dividends earned Administrative expenses 12700 10500 10100 71000 82500 Sales returns 5800 Sales discounts 21300 Selling expenses Sales 99400 390000 Income tax 31000 Beginning inventory Purchases 45300 190000 Purchases discounts 17300 Ins:- 1-Prepare trading account for the year ended in 31\12\2017. 2-Prepare profit and loss account for the year ended in 31\12\2017.

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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