trading business Financial Statement分析和总结分析和总结.docx

trading business Financial Statement分析和总结分析和总结.docx

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QUESTION1

Required:

$Using theinformationbelow,calculateGrossProfitforAndrewsAppliancesfortheyearended30June2013,thenaddonanyfurtherincomeasnecessary.

$

Inventory

2012

1

July13,200

Inventory

June2013

30 15,200

Purchases

56,000

Sales

130,000

Purchases

returns

1,500

and

allowances

Sales returnsandallowances

2,200

Freightin

2,000

Cartagein

150

Importduty

860

Interestreceived

600

Discount

received

800

QUESTION2.

expenseOfficeexpenses6,820

expense

Officeexpenses

6,820

$

$

AccountsReceivable

13,270Mortga

ge

110,000

Advertisingcosts

2,310Sales

227,980

Bank

5,410Accounts

payable

9,500

Drawings

40,440Capital

60,660

Insurance

expense

2,160

Inventory(1

10,800

April

2011)

Wages

31,400

Bad

debts

1,100

expense

Equipment

13,250

Interestpaid

7,700

Land and

buildings

164,220

Motorvehicle

expenses

1,350

Purchases

90,410

Vehicles

17,500

$408,140

$408,140

AdditionalInformation

Youhavebeentoldthatclosinginventory,asat31March2012was$12,500

Required:

Prepare a classified IncomeStatementfortheyearending31March2012.

PrepareaclassifieBdalanceSheetin

verticalformatasat31March2012

QUESTION3

ThefollowingbalanceswerepreparedforLClarkeasat31August2011:

$

$

Bank

6,500

Sales

260,000

Land and

buildings

220,000

Mortgage

132,000

Wages

22,000

Accounts

payable

11,400

Motorexpenses

1,600

Capital

72,800

Inventory1Sept

10

13,000

Insurance

2,600

Vehicles

20,000

Equipment

16,000

Accounts

Receivable

13,300

Purchases

108,500

Advertising

1,100

Interestpaid

12,000

Baddebts

1,400

Officeexpenses

8,200

Drawings

30,000

$476,200

$476,200

AdditionalInformation:

Youhavebeentoldthatclosinginventory,asat31August2011was$15,000

Required:

PrepareaclassifieIdncomeStatementfortheyearending31August2011.

PrepareaclassifieBdalanceSheetinverticalformatasat31August2011.

QUESTION4

The followingitemsrelateto thebusinessofJillWong:

Jill

Wong

Trial

Balance

asat

30

June

2012

$000

$000

Cartagein

6

Car

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