Chan Company recently had most of its records destroyed in a fire. The information for 2014 was
Question:
Assist the bookkeeper in reconstructing an income statement for 2014.
Transcribed Image Text:
CHAN COMPANY GENERAL JOURNAL Page 2 2014 Date PRDr. 312 363000 420 430 500 600 610 620 630 640 Description r. Dec. 31 Income Summary Sales Returns and Allowances Sales Discounts Purchases Delivery Expense Salaries Expense Rent Expense Office Supplies Expense Advertising Expense Amortization Exp., Store Equipment 14000 3000 240000 9000 84000 3000 5000 1000 4000 650 31 Sales Purchases Discounts Purchases Returns and Allowances ncome Summary 410 5542 00 510 12000 520 312 10000 5762 00 31 Income Summary J. Chan, Capital 312 173200 310 173200
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 77% (9 reviews)
CHAN COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31 2014 Revenu...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
College Accounting A Practical Approach
ISBN: 978-0132564441
11th Canadian Edition
Authors: Jeffrey Slater, Brian Zwicker
Question Posted:
Students also viewed these Accounting questions
-
A fire on the premises of Bydo Inc. destroyed most of its records. Below is an incomplete set of data for operations in 2016: Instructions Prepare an income statement for 2016. Include separate...
-
A fire on the premises of Bydo Inc. destroyed most of its records. Below is an incomplete set of data for operations in 2012:...
-
You, CA, are the audit senior of Ball Construction Corporation (BC), a small public company. It is September 19, 2013, and the year-end audit fieldwork has just been completed. The audit partner,...
-
Given are five observations for two variables, x and y. a. Develop a scatter diagram for these data. b. What does the scatter diagram developed in part (a) indicate about the relationship between the...
-
In the city of Milford, applications for zoning changes go through a two-step process: a review by the planning commission and a final decision by the city council. At step 1 the planning commission...
-
Plane A travels along the indicated path with a constant speed v A = 285 km/h. Relative to the pilot in plane B, which is flying at a constant speed v B = 350 km/h, what are the velocities which...
-
An air-standard Otto cycle has a compression ratio of 6. The temperature at the start of compression process is \(25^{\circ} \mathrm{C}\) and the pressure is 1 bar. If the maximum temperature of the...
-
Sandi Teter's regular hourly wage rate is $14, and she receives an hourly rate of $21 for work in excess of 40 hours. During a January pay period, Sandi works 47 hours. Sandi's federal income tax...
-
The construction of a new coal mine will cost Yamada Co. Ltd. $430,000, with the expenditure occurring the next year. The investment will bring about cash flows of $200,000 annually over the...
-
Write a function matched(s) that takes as input a string s and checks if the brackets "(" and ")" in s are matched: that is, every "(" has a matching ")" after it and every ")" has a matching "("...
-
Using the ledger balances and additional data shown below and on the next two pages, do the following for Brennan Sales Co. as of December 31, 2012: a. Prepare the worksheet. b. Prepare the income...
-
Hope Lang, a junior accountant, has the December 31, 2012, trial balance of Gregot Company sitting on her desk. Attached is a memo from her supervisor requesting that a classified balance sheet be...
-
The Balance Sheets of X Ltd. and Y Ltd. as at 31st December, 2015 of X Ltd. are given below: At the date of acquisition of the shares in Y Ltd. by X Ltd. the General Reserve and Profit and Loss...
-
----------is an example of a standing committee while the is an example of a sub (ad hoc) committee 1. event committee, food and beverage committee 2. board of directors, general manager 3. finance...
-
The wetter, intercepting slope of a mountain is termed the ________ slope, whereas the drier, downwind slope is termed the ________ slope. a. leeward; windward b. windward; leeward c. west side; east...
-
We wrap a light, nonstretching cable around a 9.00 kg solid cylinder with diameter of 32.0 cm. The cylinder rotates with negligible friction about a stationary horizontal axis. We tie the free end of...
-
The lowest sea-level pressure on Earth was measured inside a hurricane. a. True b. False
-
What is the house that the narrator is taken to in Dickinson s poem? a . Her own home b . Heaven c . Her grave d . Hell
-
Solve the given problems: sketch or display the indicated curves. Using a calculator, determine what type of graph is displayed by r = 3sec 2 (/2).
-
What are the before image (BFIM) and after image (AFIM) of a data item? What is the difference between in-place updating and shadowing, with respect to their handling of BFIM and AFIM?
-
Journalize, record, and post when appropriate the following transactions into the general journal (p. 2) for Cody's Clothing. All purchases discounts are 1/10, n/30. Assume the periodic inventory...
-
Record the following transaction in a transaction analysis chart for the buyer: Bought merchandise for $8,900 on account. Shipping terms were F.O.B. destination. The cost of shipping was $510. Assume...
-
Steve Wilson bought merchandise with a list price of $3,700. Steve was entitled to a 32% trade discount as well as a 5% cash discount. What was Steve's actual cost of buying this merchandise after...
-
The following condensed information was reported by Peabody Toys, Incorporated, for 2024 and 2023: Income statement information Net sales Net income Balance sheet information Current assets Property,...
-
A bond with face value of $1,000 has annual coupons, promised coupon rate of 8%, and 5 years to maturity. Investors require an expected return of 5% from this bond. The probability of default is 2%...
-
How does the increasing influence of technology on governance and civic participation affect democratic processes, and what safeguards are necessary to ensure that technology enhances rather than...
Study smarter with the SolutionInn App