![subject](/tpl/images/cats/ekonomika.png)
The following are the account balances in the ledger of Metcaffe Manufacturing Company compiled at the end of fiscal-year 6/31/2020. Prepare the reports as required in A to D. below.
NOTES
A Prepare the unadjusted trial balance and determine the missing figure for Retained Earnings.
B
Using the above worksheet, record the necessary below adjustments
and process the balances up to Post closing trial balance.
1 Supplies still available at year-end is $2,300
2 Expired insurance for the year is $3,000
3 Annual depreciation expense on stores equipment is 12.5% of book value.
4 Annual depreciation expense on office equipment equipment is 10% of cost.
5 Four employees' wages accrued for 3 days work at the rate of $14/hr. each, working 8 hours a day.
6 Physical stock of inventory is $19,560, as at 3/31/2020.
C Prepare a multi-step income statement, in proper form, for period ended 3/31/2020.
Distribution of the following expenses between selling, and administration are as follows:
Salaries/wages 60:40; Insurance, telephone, and supplies 50:50;
Rent, vehicles maintenance, notes interest 70:30.
D
Prepare the classified Balance Sheet as at 3/31/2020.
Cash
$ 41,500
Accounts receivable
$ 28,700
Merchandise inventory
$ 21,930
Supplies
$ 11,800
Prepaid insurance
$ 3,600
Store equipment
$ 61,700
Accumulated Depr. - Stores equip.
$ 16,500
Office equipment
$ 39,550
Accumulated Depr. - Office equip.
$ 10,150
Accounts payable
$ 15,000
Salaries /wages payable
$ -
Common stock
$ 85,000
Retained earnings (Cr.)
?
Dividends paid
$ 17,500
Sales
$ 286,435
Sales discount
$ 4,108
Sales returns/allowances
$ 3,900
Cost of goods sold
$ 92,600
Depreciation expense-Stores equip
$ -
Depreciation expense-Office equip
$ -
Sales commission expense
$ 31,000
Salaries /wages expense
$ 49,700
Insurance expense
$ 1,200
Inventory shrinkage
$ -
Rent expense
$ 24,000
Supplies expense.
$ 7,200
Telephone, fax expenses
$ 1,960
Advertising exp
$ 8,100
Vehicle maintenance/running cost
$ 9,500
Net Income(Loss)
![ansver](/tpl/images/cats/User.png)
Answers: 3
![](/tpl/images/ask_question.png)
![](/tpl/images/ask_question_mob.png)
Another question on Business
![question](/tpl/images/cats/ekonomika.png)
Business, 22.06.2019 15:50
Singer and mcmann are partners in a business. singer’s original capital was $40,000 and mcmann’s was $60,000. they agree to salaries of $12,000 and $18,000 for singer and mcmann respectively and 10% interest on original capital. if they agree to share remaining profits and losses on a 3: 2 ratio, what will mcmann’s share of the income be if the income for the year was $15,000?
Answers: 1
![question](/tpl/images/cats/ekonomika.png)
Business, 22.06.2019 16:00
Arnold rossiter is a 40-year-old employee of the barrington company who will retire at age 60 and expects to live to age 75. the firm has promised a retirement income of $20,000 at the end of each year following retirement until death. the firm's pension fund is expected to earn 7 percent annually on its assets and the firm uses 7% to discount pension benefits. what is barrington's annual pension contribution to the nearest dollar for mr. rossiter? (assume certainty and end-of-year cash flows.)
Answers: 2
![question](/tpl/images/cats/ekonomika.png)
Business, 22.06.2019 17:30
Communication comes in various forms. which of the following is considered an old form of communication? a) e-mail b) letter c) skype d) texting
Answers: 2
![question](/tpl/images/cats/ekonomika.png)
Business, 22.06.2019 19:10
According to the textbook chapter, “the emotional connection of distinguishing differences and conflict”, which of the following groups of terms describes best the skills/resources that managers need when managing differences in their organization? energy, commitment, tolerance, and appreciation energy, adequate funding, tolerance, and appreciation funding, tolerance, a strong hr department, and tolerance energy, a strong hr department, patience, and strong leadership skills
Answers: 3
You know the right answer?
The following are the account balances in the ledger of Metcaffe Manufacturing Company compiled at t...
Questions
![question](/tpl/images/cats/informatica.png)
Computers and Technology, 08.06.2020 09:57
![question](/tpl/images/cats/biologiya.png)
![question](/tpl/images/cats/mat.png)
![question](/tpl/images/cats/mat.png)
Mathematics, 08.06.2020 09:57
![question](/tpl/images/cats/en.png)
![question](/tpl/images/cats/himiya.png)
Chemistry, 08.06.2020 09:57
![question](/tpl/images/cats/fizika.png)
Physics, 08.06.2020 09:57
![question](/tpl/images/cats/mat.png)
![question](/tpl/images/cats/mat.png)
Mathematics, 08.06.2020 09:57
![question](/tpl/images/cats/himiya.png)
![question](/tpl/images/cats/mat.png)
Mathematics, 08.06.2020 09:57
![question](/tpl/images/cats/en.png)
![question](/tpl/images/cats/mat.png)
Mathematics, 08.06.2020 09:57
![question](/tpl/images/cats/mat.png)
![question](/tpl/images/cats/mat.png)
![question](/tpl/images/cats/mat.png)
Mathematics, 08.06.2020 09:57
![question](/tpl/images/cats/en.png)
English, 08.06.2020 09:57
![question](/tpl/images/cats/mat.png)
Mathematics, 08.06.2020 09:57
![question](/tpl/images/cats/mat.png)
Mathematics, 08.06.2020 09:57