Purpose a combined cost of goods sold and income statement

Assignment Help Financial Accounting
Reference no: EM133130

Question :

The Gargantuan Company has the subsequent transactions during December. Purpose a combined cost of goods sold and Income Statement showing all these transactions and check the value of inventory to be added in the Balance Sheet at the end of December.

Inventory 1 December  120,000

Rental   30,000

Salaries & Wages              45,000

Sales      435,000

Depreciation      12,000

Inventory 31 December                150,000

Marketing expenses      15,000

Gross profit        165,000

Reference no: EM133130

Questions Cloud

Evaluate the cvp income statement : Evaluate the CVP income statement
Illustrate the steps in the human resource planning method : Illustrate the steps in the human resource planning method What are the key mechanisms of a Human Resource Plan
Evaluate the deferred tax asset or liability : Purpose a schedule comparing depreciation for financial reporting and tax purposes. Evaluate the deferred tax asset or liability at the end of 2012.
What are the pressures that lead managers and executives : What are the pressures that lead managers and executives to "cook the books"?
Purpose a combined cost of goods sold and income statement : Purpose a combined cost of goods sold and Income Statement
Critically analyze the diverse impacts of integrated resorts : Critically analyze the diverse impacts of integrated resorts on the local community and on the environment of the site As a resort planner employed by the government, discuss the different mechanism which you can use to mitigate the negative impa..
Evaluate the 2011 year-end debt ratio for the business : Generate balance sheets for the business as of 31 st December, 2010 and 2011.Hint: Report only net equity on the balance sheet and remember that net equity equals the difference between liabilities and assets.)
Which company has the principal position in beverage sales : Which company has the principal position in beverage sales
Determine margaret''s adjusted basis in partnership interest : Determine Margaret's adjusted basis in her partnership interest in MP Partnership at the end of 2012?

Reviews

Write a Review

 

Financial Accounting Questions & Answers

  What is the amortization amount for every intangible asset

What is the amortization amount for every intangible asset in the existing year?

  Determine net present value of the proposed investment

Determine net present value of the proposed investment and What is the present value payback period, in years

  What is difference between a settlement and a curtailment

Determine the current year's overhead application rate

  Determine the npv of this project

Determine the NPV of this project

  Cash flow analysis and total present value techniques

Cash flow analysis and total Present Value techniques

  Determine lindas total optional basis adjustment

Determine Linda's total optional basis adjustment? How much profit will Linda report as a result of the sale?

  What common internal control weaknesses contributed to fraud

What common internal control weaknesses contributed to this fraud?

  Determine the income from the business

Determine the income from the business, excluding the profit on the sale of the tugboat?

  What could be the cost of the ending inventory

What could be the cost of the ending inventory

  What are the relevant costs involved in this decision

What are the relevant costs involved in this decision and Should Cowboy sub-contract its delivery needs to Select?

  Financial statement analysis

Discuss at least 3 points which support your conclusion, and 1 of these points must relate to a competitor's financial performance

  Estimates the value of the disney brand name

As illustrated Interbrand estimates the value of the Disney brand name in 2009 at $28.45 billion. Search Disney's financial statements and notes - what is Disney's guess of the value of the Disney name?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd