Plant and Machinery 30,000
Equipment 20,000
Depreciation for the year is 10%
What is the depreciation of Plant and Machinery for the year?
$
Gross Profit 45,000
EXPENSES
Electricity 7,000
Rent 20,000
Wages 3,000
Salaries 4,000
Repairs 300
Bad debts 50
Addtional Information:
1.Wages are accrued by $500
2.Salaries were prepaid $1,000
3.Rent of $5,000 was paid in advance
4.Electricity was owing of $300
Calculate the Netprofit?
Where is carriage inwards recorded?
Sales 200,000
Purchases 134,000
Returns Inwards 4,000
Returns outwards 2,453
Opening stock 34,395
Closing stock 15.286
Calculate the Cost of Sales?
True or False
Gross Profit + Income + Expenses = Net Profit/Loss
If an expence is accrued will the accrued amount be added or subtracted?
Motor vehicle 120,000
Prov. for depreciation of motor vehicle 30,000
Additional information:
1.Depreciation on motor vehicle is %25 in reducing balance method
Calculate the amount of motor vehicle in year 1 after depreciation?
Which of the following is NOT an asset
True or False
All additional informations have 2 effects
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EXAMPLE OF ADDITIONAL INFORMATION
1.Wages were accrued $200
What is the formula for finding working capital?