Total whole units

Inventory in process, beginning of period

Started and completed during the period

total units 0

Transferred out of (completed)

Inventory in process, end of period

Total units to be assigned costs 0

6300
Percent materials added in period Equivalent units for direct materials
 Dr Cr

sales 2,000,000
purchase 777,000
sales discount 25,000
gain on sale of disconotued devision 62,000
advertising expense 225,000
cash 58,000
accounts recivbale 117,000
share capital ordinary 10 200,000
share -premuim ordinary 542,000
dividend revenue 8,000
inventory janury 1,2019 348,000

Trademarks 15,000
Land 125,000
Patent 24,000
interst expense 85,350
loss on inventory write off 30,775
allowance for doubfual accounts 15,000
notes payable (maturity7/1/22) 200,000
goodwill 66,000
Land for future investment 450,000
bond sinking fund 25,000
top management salaries 120,000
fright charges 45,500
salaries of sales executive 112,000
depercaition expense (sales office) 000000 77,000
Dividend payable 50,000
total 2,725,625 3,077,000

inventory dec 31,2019 125000

tax rate 30%
accumlated other comperhnsive income(loss) 92,000
Unrealized Loss on Non trading equities 62,000

income statement
sales 2,000,000
sales return and allowances 17,750-
sales discount 25,000-
net sales 1,957,250
less COGS
inventory janury 1,2019 348,000
purchase 777,000
fright charges 45500
avaliable goods 1,170,500
inventory dec 31,2019 125000
COGS 1,045,500
gross profit 911,750
operating expense(S&A)
advertising expense 225000
top management salaries 120000
salaries of sales executive 112000
depercaition expense (sales office) 000000 77,000

general expense 12775

insurance expenses 9office) 50000
stationary expense (office) 6550
deperceation expense (office) 40000
643325

Other Income and expense

rent revenue 78,000
dividend revenue 8,000
loss on inventory write off 30,775-
loss on sale of used equipment 21,200- 34,025
income from operation 302,450
interst expense 85,350-
Income before income tax 217,100
Income tax 65,130
Income from continuing operations 151,970
Discontinued operations
gain on sale of disconotued devision 43,400
net =62000(1-30%)
Net income 195,370
 Dr Cr
2,725,625 3,077,000
Account payble 60,000
rent revenue 78,000
sales return and allowances 17,750

Non Trading Securities 120,500

Bonds Payable 250,000
Long term loans to officers 55,000
Equipment 140,000
accumlated dep;Equibment 25,000
Builiding 80,400
Accumlated Dep; Buliding 22,000
Income Taxes Payable 30,000
Treasury shares 50,000
pension Liabilty 100,000
Mortgage Payable 120,000
Trading securities 126,400
office supplies 14,350
customers deposit 44,000
advances to supplies 15,000
long term investment in perefernce share 75,000
general expense 12,775
insurance expenses 9office) 50,000
stationary expense (office) 6,550
deperceation expense (office) 40,000
loss on sale of used equipment 21,200
dividend delared 125,000
income tax 46,530.00
retained earning 193,920.00 -
3,861,000 3,861,000
different -
-

Statement of Comprehensive Income

Net income. 195,370
accumlated other comperhnsive income( 92,000-
Unrealized Loss on Non trading equities 62000
Comprehensive income 165,370

Statement of Retained Earnings Year Ended December 31,

Retained earnings, January 1 193,920-
Net income .. 195,370
Dividends declared.. 125,000
Retained earnings, December 31.. 123,550-

18,600
Assets
Non-current assets
Long-term investments
long term investment in perefernce share 75000
bond sinking fund 25000
Land for future investment 450000
Non Trading Securities 120500 670500

Property, plant, and equipment

Land 125000
Builiding 80400
Accumlated Dep; Buliding 22,000-
Equipment 140000
accumlated dep;Equibment 25,000- 298400

Intangible assets
Patent 24000
goodwill 66000
Trademarks 15000 105000
Current assets
inventory dec 31,2019 125000
accounts recivbale 117000
allowance for doubfual accounts 15,000-
advances to supplies 15000
Trading securities 126400
office supplies 14,350
cash 58000 440750
total asset 1514650
Equity and Liabilities
Equity
share capital ordinary 10 200,000
share -premuim ordinary 542,000
Treasury shares 50,000-
retained earning 123,550- 568,450

Non-current liabilities
Bonds Payable 250,000
Long term loans to officers 55,000
Mortgage Payable 120,000
notes payable (maturity7/1/22) 200,000
pension Liabilty 100,000 725,000
Current liabilities
Account payble 60,000
Income Taxes Payable 30,000
customers deposit 44,000
Dividend payable 50,000 184,000
total liabilities&equity 1,477,450 differ 37,200

37200
Materials inventory, January 1, 20Y8
Add materials purchased Cost of materials
available for use 0
Less materials inventory, December 31 20Y8
Cost of direct materials used in production 20000
direct labor cost 15000
prime cost 35000
Direct labor Factory overhead 24000

Total manufacturing costs incurred 59000

Work in process inventory, January 1, 20Y8 2900
Total manufacturing costs 61900
Less work in process inventory, December 31, 20Y8 3500

Cost of goods manufactured 58400