From the following data, produce a trading account for the year ended 31 December 2016. Opening inventory
Question:
From the following data, produce a trading account for the year ended 31 December 2016.
Transcribed Image Text:
Opening inventory Closing inventory Purchases Sales 8,750 9,230 64,300 97,400
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (2 reviews)
Trading account for the year ended 31 ...View the full answer
Answered By
Lamya S
Highly creative, resourceful and dedicated High School Teacher with a good fluency in English (IELTS- 7.5 band scorer) and an excellent record of successful classroom presentations.
I have more than 2 years experience in tutoring students especially by using my note making strategies.
Especially adept at teaching methods of business functions and management through a positive, and flexible teaching style with the willingness to work beyond the call of duty.
Committed to ongoing professional development and spreading the knowledge within myself to the blooming ones to make them fly with a colorful wing of future.
I do always believe that more than being a teacher who teaches students subjects,...i rather want to be a teacher who wants to teach students how to love learning..
Subjects i handle :
Business studies
Management studies
Operations Management
Organisational Behaviour
Change Management
Research Methodology
Strategy Management
Economics
Human Resource Management
Performance Management
Training
International Business
Business Ethics
Business Communication
Things you can expect from me :
- A clear cut answer
- A detailed conceptual way of explanation
- Simplified answer form of complex topics
- Diagrams and examples filled answers
4.90+
46+ Reviews
54+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
1. What are the different types of deposit accounts and loans offered to customers by any one commercial Bank in Oman? How will it benefit the account holders and borrowers? (5 Marks) 2. A successful...
-
Zims, My Hardware's manutacturing division of lawn-mowing and snow removal equpment, segments its business according to customer type Professional and Residential The following divisional information...
-
Question 1 This question has two parts, (A) and (B). Answer both parts. 100% Liverpool plc is a company that manufactures a number of different types of electrical goods and has a year end of 31...
-
One of the most common reasons why projects undergo scope changes is: A. Poor work breakdown structure B. Poorly defined statement of work C. Lack of resources D. Lack of funding
-
A horizontal strip lying in the xy plane is of width d in the y-direction and infinitely long in the x-direction. If the strip is in air and has a uniform charge distribution s, use Coulombs...
-
what calculations were used for Using the historical data from Table 1 as a guide, we can adjust the costs and revenues for inflation to forecast the profit and loss statement for an average day in...
-
Which of the following matters is not covered in the code of ethics of the Information Systems Audit and Control Association? a. The need to comply with standards promulgated by the Information...
-
Roberts Company is considering an investment in equipment that is capable of producing more efficiently than the current technology. The outlay required is $2,293,200. The equipment is expected to...
-
A&K Co. purchased equipment that was installed and ready for use on January 2, 2025 at a total cost of $216,000. The salvage value was estimated at $21,600. The machinery is depreciated over four...
-
From the following data, produce a trading account for the year ended 31 December 2017. Opening inventory Closing inventory Purchases Sales 12,181 31,905 76,878 154,544
-
State the balance on the following types of account (debit, credit, or either): (a) Capital (b) Sales (c) Purchases (d) Returns outwards (e) Equipment (f) Loan from bank (g) Bank (h) Rent received...
-
In the structural credit risk model, it is claimed that the debt holders own the firm, and not the equity holders. Explain why.
-
How does the concept of distributed energy resources (DERs) and microgrids support the decentralized utilization of renewable resources, and what are the technical and regulatory challenges in...
-
Assume that two companies that operate walk-in clinics both have the same December year end, but one is based in Aspen (a winter resort town), while the other operates on Nantucket Island (a summer...
-
Discuss the role of green chemistry in promoting sustainability within the chemical industry, focusing on the design of safer chemicals, reduction of waste, and energy efficiency .
-
What does this statement mean? Like can you explain it please? "If you can get an allocation of shares of common stock in an IPO, it's like getting free money."
-
1.Discuss the current issues of equal pay for work of equal value and pay compression. Cite examples as discussed in the class lecture and text readings. 2.Discuss the key reasons why employees form...
-
Divide into two groups and prepare arguments for and against the following behavior: You work in the accounting department of a family-owned mushroom grower based in California that sells premium...
-
If the cylinder described in Problem 21.3 were initially heated to 500F, how long would it take for the center of the cylinder to cool to 240F if it were constructed of a. Copper? b. Brass? c. Nickel?
-
Write up the following transactions in the double-entry accounts of J Lam for the month of February 2009. 2 February Lam places 400 of his own money into the cash till. 3 February Purchases made on...
-
Write up the following transactions in the double-entry accounts in the books of M Cousins for the month of December 2014. 1 Dec Cousins opens a business bank account with 8,000 of his own money. 4...
-
Draw up the double-entry accounts to record the following transactions. 1 Mar Goods bought on credit for 32 from T Burke. 3 Mar Goods bought on credit for 81 from W Randlesome. 9 Mar We return goods...
-
An acceleration clause: A. Allows the borrower to pay the loan off early. B. Allows the borrower to reduce the principal balance at a faster rate. C. Allows the borrower to make subsequent draw-downs...
-
Aaron's chairs is in the process of preparing a production cost budget for August. Actual cost in July for 120 chairs were: Materials Cost: $4,500 Labor Cost: $2,510 Rent: $1,500 Depreciation :...
-
A small town has 4000 families. The average number of children per family is mu = 2, with a standard deviation sigma = 1.3. A sampling distribution of the mean for n = 50 is developed for this...
Study smarter with the SolutionInn App