The exercises of the goods (inventory)



Exercise No. 1
If I knew that the balance of the Meeting was as follows in 31/12/2015:

straddling the city credits account name
5000
World Bank
debtors 10357.5 Fund 19000
10950 merchandise first term
5000 furniture net
5000 computers net
19000
10000
61750 creditors capital sales
300 sales returns
142.5 discount on sales
35500
250
750 Procurement Procurement Procurement expenses returns
2000 discount on purchases
1000 administrative expenses and the universality of variety
1000 sale and distribution expenses variety
93500 93500 total
when the inventory in 31/12/2015 The goods were in the last period equal to 5000:

Required: the
preparation of financial statements
express restrictions locks
solution:
First: To prepare a list of income: the

total amount of the partial statement
61750 Total Sales
(300) (-) Sales ومسموحاتها returns
(142.5) (-) Discount On Sales (
61307.500 discount permitted) net sales
10950 merchandise first term
35500 ( ) Total procurement
(750) (-) procurement ومسموحاتها returns
(2000) (-) discount on purchases (DEDUCTION of unearned income)
250 (
43950 ) purchasing goods available for sale
(5000) (-) Another Term merchandise
(38950) cost of sales
22357.500 overall income (profit)
operational expenses
1000 administrative expenses and the universality of variety
1000 expenses for the sale and marketing of variety
(2000) (-) total operating expenses
20357.500 net income (profit)
Secondly: Closure of the accounts in the income list:
We have explained in the lesson of the closure of the accounts for the way in which the closure of the calculation of income and expenses in the service installations, and the closing of the accounts of business companies in the same way by locking the expense of private accounts and sales acquisition costs and expenses and revenues and other expenses in the profit and loss account (income) Summary As follows:

1 the closure of the accounts of other procurement and expenses and assets of the city: the
closure of the accounts of the procurement and other expenses of balances in the profit and loss account (income) by making them credits as follows:

Under the closing expenses and other city assets of the

debtor creditor
38192.500 statement from h/profits and losses (summary income)
to figuring
35500 h/procurement
250 H/purchasing
300 H/sales returns
kill innocent civilians h/discount Allowance (Sales)
1000 H/administrative expenses JD
1000 h/sales and marketing expenses
and fees
2 locks the procurement account closure sales account other credit balances:
sales are closing the credit balances in the profit and loss account (income) by making it as follows: city

under the closure of income: the

creditor of the debtor's statement
of the Securityof
61750 h/Sales
750 H/procurement ومسموحاتها returns
2000 h/discount aids (discount on purchases)
64,500 to h/income gains and losses (summary)
The closure of sales account other creditor balances
3 closing expense merchandise first term and prove another term freight account

debtor and creditor statement
10950 from h/profits and losses (summary income)
10950 to h/cargo first term
aq
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