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Monty Zuma Wholesale Company

Trial Balance

31-Dec-10




Accounts Title Debit Taka Credit Taka
Cash 23400  
Accounts Receivable 37600  
Merchandise Inventory 90000  
Land 92000  
Building 197000  
Acc. Depreciation - Building   54000
Equipment 83500  
Acc. Depreciation - Equipment   42400
Notes Payable   50000
Accounts Payable   37500
M Zuma, Capital   267800
M Zuma Drawing 10000  
Sales   902100
Sales Discounts 4600  
Cost of goods sold 709900  
Salaries Expense 69800  
Utilities Expense 19400  
Repair Expense 5900  
Gas and Oil Expense 7200  
Insurance Expense 3500  
  1353800 1353800



Adjustment:

i. Depreciation is Tk  10000 on building and Tk 9000 on equipment (Both are administrative Expenses).
ii. Interest of Tk. 7000 is due and unpaid on notes payable at December 31, 2010
Other Data:

i. Salaries are 80% selling and 20 % administrative
ii. Utilities Expense, repair expense and insurance expense are 100% administrative
iii. Tk 15000 of the notes payable are payable next year
iv. Gas and oil expense is selling expense




Requirements:

a) Enter the Trial Balance on a worksheet and complete the worksheet
b) Prepare:-

i. a multiple step income statements,

ii. Owners wquity statements

iii. A classified balance sheet

c) Journalize the adjusting entries

d) Journalizing the closing entries


Wait for solution......................


Concept of Production Function : Meaning, Factors and Nature

By Admin on December 01, 2012 , Total read: 2 times.

Meaning of Production Function:

https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhVWq2JiXElJcoeydMDqdBmGC5AYzjChxY8qWmLWg3KtE4il_Y7XmXonGMIKkxXrZ16e7yHeWCvO3Dn5A8QIFq5KNh7HeRwjdGxgc89SZxMp5XIyJeVLzR-GxWQp1k2kFtFxViKOzXy9FM/s320/production+function+with+different+levels+of+technology.png
Professor Samuelson says, "Production function is the technical relationship telling the amount of output capable being produced by each and every set of specified inputs."
Production function is the name given to the physical relationship between a firm’s p

The Incoterms® rules for foreign trade and international business

By Admin on December 01, 2012 , Total read: 0 times.
The Incoterms® rules have become an essential part of the daily language of trade. They have been incorporated in contracts for the sale of goods worldwide and provide rules and guidance to importers, exporters, lawyers, transporters, insurers and students of international trade.
  1. EXW Ex Works
  2. FCA Free Carrier
  3. CPT Carriage Paid To
  4. CIP Carriage And Insurance Paid To
  5. DAT Delivered At Terminal
  6. DAP Delivered At Place
  7. DDP Delivered Duty Paid
  8. FAS Free Alongside Ship
  9. FOB Free On Board
  10. CFR Cost and Freight
  11. CIF Cost, Insurance and Freight

RULES FOR ANY MODE OR MODES OF TRANSPORT


"Economics is the Study of Mankind in the ordinary Business of life"- Discuss.
By Admin on December 01, 2012 , Total read: 0 times.
http://www.merospark.com/wp-content/uploads/2015/03/Alfred-Marshall.jpg     In his widely read textbook, Principles of Economics, published in 1890, Marshall defines economics as follows:
"Political Economy or Economics is a study of men as they live and think and move in the ordinary business of life. It examines that part of individual & social action which is most closely connected with the attainmen

Economic Impact of Foreign Remittance in Banladesh

By Admin on December 01, 2012 , Total read: 2 times.
http://www.assignmentpoint.com/wp-content/uploads/2013/05/Foreign-Remittance.jpg
What impact do remittances are stimulating overall economic growth? Remittances will be used for consumption and investment that any stimulates demand for product and services, furthermore as contribute to monetary development. On the opposite hand, they\'ll produce dependence in recipients and cause real exchange-rate appreciation that adversely affects domestic production.
The associate is an empirical one that we will answer victimization on the market information. Our findings echo recent econom

Maslow s Hierarchy Theory of Needs

By Admin on December 01, 2012 , Total read: 3 times.

Maslow s Hierarchy of Needs

by Admin twitter icon published 2007, updated 2015
Maslow wanted to understand what motivates people. He believed that people possess a set of motivation systems unrelated to rewards or unconscious desires.
Maslow (1943) stated that people are motivated to achieve certain needs. W

Economic Impact of Inflation

By Admin on December 01, 2012 , Total read: 32 times.
-- 03 May 2015, Murad Hossain

There are many deadly effects of inflation. Two of the most important are:
  1. Redistribution of Wealth and Income among the People
  2. Distortion in the Production of Goods, employment and relative Prices (During Periods of Inflation all prices and wages do not change at the same rate; so changes in relative prices occur)

Impact on Wealth and Income

This effect is focused on the assets and liabilities of the People. If you owe money, a rise in the price will be a gain for you . But you lend and the prices rise, you suffer. Because the amount repa

Difference Between Inflation, Deflation and Disinflation

By Admin on December 01, 2012 , Total read: 16 times.
-- 03 May 2015, Murad Hossain
Deflation and Disinflation are not the same. Although they all show the behavior of Price level but They are different in their direction and change in the Rate of Price Level.

Deflation

means an opposite to Inflation Or Falling Price (just like we have rising prices in Inflation). A deflation does not have a positive impact all the time. Off course, every person would want to have falling prices but not below “0”. Not every person is willing to sell below the level of the costs it has incurred.

Disinflation

Is considered to be a common condition. It is related to the Rate of change of Prices

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