Question 1 The following balances were extracted from the accounts of the Fishermen’s Pub at 31st January 2024. $ Inventory 1st February 2023 Food 30,000 Beverages 16,000 Purchases Food 390,000 Beverages 180,000 Sales Food 900,000 Beverages 400,000 Wages & Salaries Food 140,000Beverages 90,000 Light & Heat 30,000Cleaning Materials 6,000Laundry 10,000Rates 7,000 Supplies Food 5,000 Beverages 3,000 Depreciation 25,000Repairs & Replacements 2,000 Additional Information Inventory at 31st January 2024 Food 16,000Beverages 12,000 RequiredPrepare the departmental Income Statement using the departmental profit method for the year ended 31st January 2024.
Question 1
The following balances were extracted from the accounts of the Fishermen’s Pub at 31st January 2024. $
Inventory 1st February 2023 Food 30,000
Beverages 16,000
Purchases Food 390,000
Beverages 180,000
Sales Food 900,000
Beverages 400,000
Wages & Salaries Food 140,000
Beverages 90,000
Light & Heat 30,000
Cleaning Materials 6,000
Laundry 10,000
Rates 7,000
Supplies Food 5,000
Beverages 3,000
Repairs & Replacements 2,000
Additional Information
- Inventory at 31st January 2024
Food 16,000
Beverages 12,000
Required
Prepare the departmental Income Statement using the departmental profit method for the year ended 31st January 2024.
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