Mid term
.xlsx
School
Ain Shams University**We aren't endorsed by this school
Course
ECON 101
Subject
Accounting
Date
Dec 16, 2024
Pages
8
Uploaded by PrivateProton23867
Question one 1Data section for the quarter endedseptember 30.2018 sales 400000sales returns and allowances50000purchases300000purchases returns and allowances30000Beginning inventory 80000Gross profit percent (historical)40%Answer section beginnining inventory net purchase cost of goods available for salenet sales Formula4estimated gross profit (in dollars)Formula5estimated cost of goods sold estimated ending inventory
Formula1Formula2Formula3Formula6Formula7
Wikki CleanersWork SheetFor Year Ended December 31, 2012Trial BalanceAdjustmentsAdj. T/BAccount TitleDr.Cr.Dr.Cr.Dr.Cash13,200 13,200 Cleaning supplies22,000 22,000 Prepaid insurance5,400 5,400 Equipment######Accumulated depr.74,100 0 Accounts payable8,500 0 Common stock60,000 0 Retained earnings31,200 0 Dividends27,000 27,000 Revenue###0 Rent expense28,500 28,500 Wages expense39,720 39,720 Utilities expense2,130 2,130 Misc. expense1,410 1,410 ######Supplies expense0 Insurance expense0 Depreciation exp.0 Wages payable0 FORM1FORM2FORM3Net income
Balancencome StatemenBalance SheetCr.Dr.Cr.Dr.Cr.0 0 0 0 74,100 8,500 60,000 31,200 0 ###0 0 0 0 0 0 0 0 FORM4 FORM5FORM6FORM7FORM80 0 0 0 0 0 0 0
Data section january sales 100000sales growth rate 2%selling expense rate60%general expense19000Answer section janfebsalesFORMULA1FORMULA2expensesselling expense FORMULA3FORMULA10general expenseFORMULA4FORMULA14total expenseFORMULA5FORMULA18net income FORMULA6FORMULA22
maraprilMayFORMULA7FORMULA8FORMULA9FORMULA11FORMULA12FORMULA13FORMULA15FORMULA16FORMULA17FORMULA19FORMULA20FORMULA21FORMULA23FORMULA24FORMULA25
Date : NovemAnalysis of ReceiNot 30-JanYet Days customerTotal Due Past dueBeauty salon 560026002000Beauty center750043003200hair center900020003000Hesham salon38003800Sameh center800600Adel center35001000total$ 30,200.00 $ 12,700.00 $ 9,800.00 EstimUncollectibTotal Amount Not yet due01-30 days past due 031-60 days past due 061-90 days past due 0Over 90 days past due 0Totals 0
mber , 30ivable by Age 31-6061-90Over -90Days Days Days Past duePast duePast due1000200020002006401400460$ 2,640.00 $ 3,400.00 $ 1,660.00 mate of probable ble Accounts Expense percentTotal Uncoll.Uncoll.2%03%05%010%020%00