From the following trial balance of G. Still, draw up an income statement for the year ending
Question:
From the following trial balance of G. Still, draw up an income statement for the year ending 30 September 2024, and a balance sheet as at that date.
Inventory at 30 September 2024 was £44,780.
Transcribed Image Text:
Inventory: 1 October 2023 Carriage outwards Carriage inwards Returns inwards Returns outwards Purchases Sales Salaries and wages Warehouse rent Insurance Motor expenses Office expenses Lighting and heating expenses General expenses Premises Motor vehicles Fixtures and fittings Trade receivables Trade payables Cash at bank Drawings Capital Dr 41,600 2,100 3,700 1,540 188,430 61,400 3,700 1,356 1,910 412 894 245 92,000 13,400 1,900 42,560 5,106 22,000 484,253 Cr m 3,410 380,400 31,600 68,843 484,253
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
G Still Income Statement for the year ending 30 September 2024 Sales Less Returns ...View the full answer
Answered By
Ajay Negi
Hi, I've completed my degree in engineering (Information Technology) from an NIT. Currently working as a software engineer. Wish to impart quality education to the future generation.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Frank Woods Business Accounting An Introduction To Financial Accounting
ISBN: 9781292365435
15th Edition
Authors: Alan Sangster, Lewis Gordon, Frank Wood
Question Posted:
Students also viewed these Business questions
-
From the following trial balance of G. Still, draw up an income statement for the year ending 30 September 2013, and a statement of financial position as at that date. Inventory: 1 October 2012...
-
The following trial balance relates to Amethyst as at 31 March 2015: The following information is relevant: 1. After the year end stock take it was discovered that goods worth $4 million, which were...
-
Suppose f"(x)=x-2 and the critical values of the function f'(x) are x= - Classify each critical value as either a relative minimum, relative maximum, or unknown using the second derivative test....
-
In Problems, use a calculator to give a decimal approximation of the numbers to three decimal places. e 4
-
McDonald Marina provides docking and cleaning services for pleasure boats at its marina in southern Florida. The following account balances are available: Required: 1. Prepare a single-step income...
-
Study Appendix 13. Consider the following data for the Rivera Company: From the preceding information, fill in the following blanks. Be sure to mark your variances. F for favorable and U for...
-
Reconsider the data from Problem 56. What is the capital recovery cost of Model 334A? Data from problem 56 Octavia Bakery is planning to purchase one of two ovens. The expected cash flows for each...
-
Professor Patricia (Patty) Pate is retired from the Palm Springs Culinary Arts Academy (PSCAA). She is a single taxpayer and is 68 years old. Patty lives at 98 Colander Street, Henderson, NV 89052....
-
46. Consider the functions Find the following limits: x + sin x, for x>0 f(x) = 0, for x = 0 -x + cos x, for x <0 g(x) = x, for any x = R. f(x) (a) lim x+0+ g(x)' (b) lim f(x) x400 g(x)' f(x) (c) lim...
-
The following trial balance was extracted from the books of F. Sorley on 30 April 2020. From it, and the note about inventory, prepare his income statement for the year ending 30 April 2020, and a...
-
The following information is available for the year ending 31 December 2024. Draw up the trading account section of the income statement of R. Marin, who started trading in that year: Inventory: 31...
-
One ton of liquid water at 80C is brought into a well-insulated and well-sealed 4-m X 5-m X 6-m room initially at 22C and 100 kPa. Assuming constant specific heats for both the air and water at room...
-
Could you analyze the role of ekphrasis and synesthetic imagery in transcending the limitations of linguistic representation, evoking a multisensory experience that blurs the boundaries between the...
-
What is a defense if any is there for an attempt under a Inchoate Crime?
-
Explain how interdiction efforts by police affect community relations.?
-
Compare the theories of Natural Law and Positivism, using examples, such as legal cases. Describe the two theories and discuss cases which follow one or the other. You can mention the theorists for...
-
How does the integration of perspective distortion and foreshortening techniques within the pictorial space challenge traditional notions of representational accuracy and spatial coherence, inviting...
-
DepreciationReplacement, Change in Estimate Peloton Company constructed a building at a cost of $2,400,000 and occupied it beginning in January 1991. It was estimated at that time that its life would...
-
After Theorem 1.5 we note that multiplying a row by 0 is not allowed because that could change a solution set. Give an example of a system with solution set S0 where after multiplying a row by 0 the...
-
Explain some of the different aspects of the customer experience that could be managed to improve customer satisfaction if you were the marketing manager for: ( a ) an airport branch of a rental car...
-
Is there any difference between a brand name and a trademark? If so, why is this difference important?
-
Is a well-known brand valuable only to the owner of the brand?
-
Ebony bought $10,000 of stock in company XYZ at $50 per share. After some years, Ebony sells all her stock at $70 per share. How much total does she receive from selling all her stock?
-
Explain in your own words, All GAAP Principles, b) their Primary Purpose, c) Auditors Expectations . Be sure to provide detail explanation of each principle. d) What is your take away from the...
-
An entity is calculating the income recognized in the third year of a 5-year construction contract. It uses the input method based on costs incurred to measure the progress toward completion. The...
Study smarter with the SolutionInn App