Chapter Financial Statements
D= Debit (RM)
C= Credit (RM)

Premises
D 40,000

Fixtures and Fittings
D 10,000

Mortgage on premises
C 15,000

Purchases and sales
D 40,300 C 78,500

Debtors and creditors
D 3,400 C 9,000

Motor vehicles
D 21,000

Return inwards and outwards
D 200 C 300

Commission expense and revenue
D 2,700 C 1,040

Carriage inward
D 1,750

Duties on purchases
D 650

Stock ( 1 January 2020)
D 8,000

Carriage outwards
D 3,260

Wages
D 5,900

Insurance
D 350

Rent
C 3,000

Bank-overdraft
C 3,650

Cash
D 840

Capital
C 28,560

Drawings
D 700

D 139,050 C 139,050

Stock on 31 December 2020 was valued at RM12,000

You are required to prepare

1) Profit and Loss Account for the year ended 31 December 2020

2) Balance Sheet as at 31 December 2020

Rats that received electric shocks were unlikely to develop ulcers if the

crow design, inc. is a web site design and consulting firm. the firm uses a job order costing system in which each client is a different job. crow design assigns direct labor, licensing costs, and travel costs directly to each job. it allocates indirect costs to jobs based on a predetermined overhead allocation rate, computed as a percentage of direct labor costs. direct labor hours (professional) 6,250 hours direct labor costs ($1,800,000 support staff salaries ,000 computer ,000 office ,000 office ,000 in november 2012, crow design served several clients. records for two clients appear here: delicious treats mesilla chocolates direct labor 700 hours 100 hours software licensing $ 4,000 $400 travel costs 8,000 1. compute crow design’s direct labor rate and its predetermined indirect cost allocation rate for 2012. 2. compute the total cost of each job. 3. if simone wants to earn profits equal to 50% of service revenue, how much (what fee) should she charge each of these two clients? 4. why does crow design assign costs to jobs?

Table 1. shows the expected demand for the dvd at different suggested donation levels, and they can act as a single-price monopolist if they choose to. thereceipts will be used to fund gstcg supplies for their data collection and conservation work. at the end of each sea turtle nesting season, any excess funds are donated by the gstcg to a local non-profit sea turtle research and rehabilitation facility. table 1 suggested anticipated total marginal profit donation per number of dvd revenue revenue dvd request requests $19.00 0 $15.00 2 $9.50 4 $7.75 10 $3.00 15 $0.00 20 a. complete table 1 by computing the total revenue, marginal revenue, and profit columns. b. the president wants the gstcg to provide videos to generate the most possible donations (total revenue). what price, if any, is the president of the gstcg favoring and how many people will receive the dvd if this becomes the price of the suggested donation? explain your answer. c. the education outreach committee wants the gstcg to provide videos to the highest possible number of people. what price, if any, is the educational outreach committee favoring and how many people will receive the dvd if this becomes the price of the suggested donation? explain your answer. d. the treasurer of the gstcg wants the dvd program to be as efficient as possible so that the marginal revenue equals marginal cost. what price, if any, is the treasurer favoring and how many people will receive the dvd if this becomes the price of the suggested donation? explain your answer. e. the fundraising committee wants the dvd program to generate as much profit in donations as possible. what price, if any, is the fundraising committee favoring and how many people will receive the dvd if this becomes the price of the suggested donation? explain your answer.