Question 2: - The following is the trial balance of Falcon Manufacturing Company as at March 31, 2018​​​​​​​​​​​ Particular Rs. Particular Rs. Cash at Bank 38, 100 Indirect Labor 18, 400 Acc Receivables (net) 9, 420 Sales 496, 000 Dir Material Inv – April 1 30, 000 Sales Returns 16, 000 Work-in-process   April 1 35, 725 Purchases of Material 48, 000 Fin Goods Inv       April 1 19, 430 Carriage on Purchases 5, 000 Machine – Factory 600, 000 Purchases Returns 3, 000 Salary Expense 40, 500 Purchases Discount 1, 500 Machine – Office 200, 000 Direct Labor 86, 450 Acc Dep – Office machine 143, 700 Electricity 200, 000 Salary Payable 15, 500 Rent                       75, 000 Indirect Material 25, 600 Depreciation (machine)   45, 000 The inventories as at March 31, 2018 are as follows: -   - Direct Material Inventory    Rs. 6, 300             - Work-in-process Inventory    Rs. 31, 800 - Finished goods Inventory        38, 180   Note: Use the following ratio to calculate “Electricity, Rent, and Depreciation expense” ​Ratios: Factory: Office = 4:3   Required - Prepare the following statements  b. Income Statement

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Question 2: - The following is the trial balance of Falcon Manufacturing Company as at March 31, 2018​​​​​​​​​​​

Particular

Rs.

Particular

Rs.

Cash at Bank

38, 100

Indirect Labor

18, 400

Acc Receivables (net)

9, 420

Sales

496, 000

Dir Material Inv – April 1

30, 000

Sales Returns

16, 000

Work-in-process   April 1

35, 725

Purchases of Material

48, 000

Fin Goods Inv       April 1

19, 430

Carriage on Purchases

5, 000

Machine – Factory

600, 000

Purchases Returns

3, 000

Salary Expense

40, 500

Purchases Discount

1, 500

Machine – Office

200, 000

Direct Labor

86, 450

Acc Dep – Office machine

143, 700

Electricity

200, 000

Salary Payable

15, 500

Rent                      

75, 000

Indirect Material

25, 600

Depreciation (machine)  

45, 000

The inventories as at March 31, 2018 are as follows:

-  
- Direct Material Inventory    Rs. 6, 300            
- Work-in-process Inventory    Rs. 31, 800
- Finished goods Inventory        38, 180

 

Note: Use the following ratio to calculate “Electricity, Rent, and Depreciation expense”

​Ratios: Factory: Office = 4:3

 

Required - Prepare the following statements 

b. Income Statement
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