Irhr JoUou'ing ittfonnatioH to antovr Short Extrcises St-12 through 57-/4.
1 \\»<a1 inr, \rratigcments h* jut completed operations for the year ended December
«iv « 11, !• iqin'M1 | I 2.000 |
Salaries Expense |
S 37,000 |
*Ci,'» Atynx* |
30.000 |
Az tour its Payable |
4.300 |
t t|i t, i-s I vwiw |
•»oo |
Otke Supers |
1,500 |
»it«iT» ti%xice |
11 000 |
Retards. Wt»xh»z/ah |
4.500 |
.» j, tpnUtl bn 1 7016 |
13.300 |
Accounts KrtcudWe |
7.500 |
c a-.6 |
7.0CO |
Equipment |
26.600 |
SI-12 Preparing the income statement
Prepare the income statement of Det outing Arrangements for the year ended December 31, 2016.
S1 -13 Preparing the statement of owners equity
— Prepare the statement of owner's equity of Decorating Arrangements tor the year ended December 31. 2016.
SI-14 Preparing the
Prepare the balance sheet of Decorating Arrangements as of December 31. 2016.
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- Date: Page No. B aue pastners shauing in pnofit in Hatid 3:2 there capltal 3.00.080 sespectivuly Theylmade doiawingsof 56o and 1250. They Shtitebl to 9.00.000 int on colpital on them. the year are Sbawing and 7% int on diau Their puofit 3. 50.cob. Al is entitud to balasy of werre. month I uehile Bis 6000 per entitled en sales.Damount is 6,ob.O00, prepare spescent of commission lappropsiation of yead 2020. gor the Dek. OPPO A53 ONancy photography 2021/01/29 12:07arrow_forwardwindeur Co. purdiad cyuipmenL fu ao.uD wlist a alimslad lu hurs e uaclul ile uf 10 yeara wilh sulvugu vulus uf s0.SUD J its cnd ol dul ime. U.presialian hea bean enterud fa / yuara sa a altuiplit line buaia In 201, il i dela minsd thul dis lutal cimulud ils alvuli b. 15 yuara wth a aivaje value .400t and at that time. (a) Presere the entry e anyi to comest the orior vears deprer arion. ьх (Credit account titles are automatically indented when amount is anhered. De nat indent manusaly. If no entry i required, seinct "Na Entry" for the account tvtles and enter O for the amounts.) Nu. ALLount Tlka and txplanaioI Debt Crudt (a Cick if o u hke to shaw Work fur ts n e Slan akarrow_forwardFollowing s theinfornaotion Conteiact. sueloting da amount $ Contsact paiice. Raw moterials wages Sub-(ontsiact plant matesials tsians ļ 0uued to othor 6,00,000 120,000 Li60,000 5,000 20,000 2.000 Cont'siact. 4oneral expenses At the end01 the , Cash rereived fm the Contsiactee wos $250.O00 being 80%% of wa Contified, yalue | the year was $ 18,000. plant do be depsieciated at 20%. DHepaue (onteiact account. 7.600 year, to motorials unused at he ond Contsiact.arrow_forward
- 2. Nem Level Which of the two methods yields a conceptaly pefenbile valion of invemory E7-10 107.5 Alternative Ivety Methods Nevens Compary nes a peiodic invenory Duting November, the foillowing tranactions occurred: Dete Tronsecfion Units Cot/Uni November Balonce $3.50 50 350 Sole Pierhme Purchese Sole 13 300 400 5.00 21 28 200 SHOW ME HOW 150 Required: 1. Compute the cost of goods sold for November and the inventory ar the end of November for each of the following cost flow assumptions: FIPO 2. b. LIPO C Average cost Next Level What can you conclude about the effects of the inventory cost flow assumptions on the financial 2. statementsarrow_forwardi 1:50 O O *UN 40 80% 5 The company dseouteda P10.000, 0 ay, 6 ne on November 15, 2019, Orgnal entry Adisting ertry PHACTICAL EXERCISE testruction: Lung the ecerse mettod tis tare, p te ongral entry ot the tregoing ransations and the neonsary adjuing ery at the end of the acrting pered. Der. 31,201a Protiem Tha trai talance ot the Mabils Fapar Shop appean below at the and f in calondar penad MABLIS REPAR SHOP Trial Balance Decenter 31, 2019 Cash an tand Accounta Recevable Estnand Uncotectbie Accourta 10.000 25.000 P. 1.000 30.000 750 Ns Receivatie Shop Equohert Actumuuted Depreciafen-Shep Egipmert Furte and Fature Acrumuuted Deorsaton-Fuinture ard Fatue Accourts Poyable tows Payable Lenes Capits Leynes, Driwing Service ncome Salares Expanse Rant Expense Suopies Erper Tann and Liman Ligt and Water Expenua 2000 .000 5.000 11.000 12.000 44.750 1.000 30 D00 8000 4000 1.500 1000 105.500 105.S00 A4ssoral ielomation 1. Urpad taxes P600 2 Acorued satarien P1000 1 Acortued interst on netes…arrow_forward9. Q During The assels" af MiffLinburg orpoahin elecreased by S 66,00o dectease d jssued 8 L000 c00 of curreni fear, The Zolal 2otal Liabilitres by 8300,000. The Company aud new SZock, 'auel ls nel Loss fer the year luas Slockholders equicy Delermine $250,000. No ether Changes bcumed dluring the dollar 20 the year. of dividends declaved amount by The company eluring The yeur .arrow_forward
- ote: Total Aet-Cuat linbiwbe Accumulated fundo tthistoation: The recepts and gagmetsalleunte of Liar c for the you Balane If Sub saptindn knded 2lst Delamt 1999 Wee ce Inserrance Rate l,000 ting 3,650 L, 700 600 Glavenalerpanes 6itor Reut fnnitume Sought lana /d 27,250 Sonatins 8,500 8,150 7,80 2,St0 27250 The fillowing nformetim Rates were 3600 2,F00 popaid Geneal Raputes prepaid Doo Raut Buing Subsaptim in Qureas 100 75 Foo 600 The foced assets funituns Cnd fifting Premies bepreciate thu Asets as at Ist jan 999 were; at1,500 A5,00 by o pepare; Youre veequired to Statemat of affats - m Come and"copenditwe allounts 2 Balane sheetas at 3lst Delember 1999,arrow_forwardideal farenitura couipment discorded onjene 15, 2013, that Rad a cost d lo, o00 $ and was jaukuadžed the dieporal f De equiprent"arrow_forwardance, in Advance on On Cive Journal Enures u Vendsh x 10 = ? 50,000, Amount received : App. 50,000 (20,0 h x 2,50). AIL 5,000 50 (19.500 Sh. x 2.50), I call ? 22,500 (18,000 Sh. x 1.25), Sec. (15,000 Sh. x 1.26), Total of B/S 2,90,000.] 360 180 (Total 540) (C) Forfeiture of Shares eration other than Cash Porfeiture of Shrres Issued at Par Forfeited by the directors. Give Journal Entries for the above. fortefoney Received : App. 7 20,000; Allot. 7 30,000; I Call ? 28,200; II & Final Call 18,000: issued at par to Bihar Ltd. Share forfeiture 7 6,200] hirem Ltd. invited applications for issuing ? 80,000 Equity shares of 10 each. The amount was payable as follows: On Application On Allotment On First and Final Call Applications for 77,000 shares were received. Shares were allotted at all the applicants. Sundaram to whom 7,000 shares were allotted failed to pay the allotment money. His shares were forfeited immediately after allotment. Rudra, the holder of ? 500 shares failed to pay the…arrow_forward
- Question AR and Chave partenhp caplcot bcs 00 S00 and Stas 0, ly the income sharng A sR n ws. Add wi e parrh nd apeed that part pays S9500 A perh t The flnces t's and Cs Captal cc aer As wal wodd be OARSEND00C 0 OaR SS00, C 00arrow_forwardThe shodule g8 aing accounts for a com Prny O1 Year 2020 Account rectuble $20,000 $ So00 at the Estimate bag Current 1-30 daysoverdue 3 1- 60 days ovedue more than 6odays overdue (% 5% to % 20% $2500 31 S00 The aliowance was estimeted by using the stheolole accounta. The allowanre count had a'Jebit balance of g400 befere tHe estimate was made Reouired Prefare the adjusting bat to record bad debt expense for 2 entryarrow_forwardPrepare General journal entries for the given questionarrow_forward
- Intermediate Accounting: Reporting And AnalysisAccountingISBN:9781337788281Author:James M. Wahlen, Jefferson P. Jones, Donald PagachPublisher:Cengage Learning