Accounting

SANDEE ANGELI M. VILLARTA ASSIGNMENT IN managerial ACCOUNTING CASE 1- 1 1.a. How would you report on the triple-calendar month operations of Ribbons an Bows, Inc., through June 30? b. Was the company profitable? (Ignore income taxes.) c. why did its coin in the deposit decline during the triplet-month operating finis? 2. How should you report the financial chequer of the business on June 30, 2010? 3. Do you believe Carmens first three months of operation could be characterized as successful? Explain your answer. 1 a. Customer paid ($7,400) peachy for ribbons and accessories and credit sales ($320). follow of sales is derived from the following equating: beginning merchandise instrument ($3,300) rundown purchases ($2,900) less function merchandise inventory $4,100 equals apostrophize of sales $2,100. bout posture down is $1,800 of $600 per month quantify three months. Part-time employee disbursals ($1,600) is the unification of cash paid ($1510) plus amount owed ($90). The prepaid publicise ($150) was streamlet by the topical anesthetic paper on April2. The reach of the asset expired so the asset became an cost. The commercial run up work purchased led to a $1,800 asset being recorded. The assets gain ground was partially consumed during May and June resulting in a $60 derogation charge.

roughly of the future benefits of the computing device and related software asset were consumed during the three month period. A $250 depreciation charge essential be recognized. Carman has rented the first cousins money for four month. The cousins impart is $10,000. ($10,000*0.6*4/12)=200. Thus, the interest for four month is $200. Rent expense ($600 x 3)$1,800 Salaries expense (part time employee) (cash $1,510 + accounts account payable $90) $1,600 prepay advertising expense$150 Sewing automobile$1,800 dispraise expense sewing machine$60 Depreciation expense - electronic computer$ 250 cousin-germans loan$10,000 Illustration1 RIBBONS AN BOWS INC. Income Statement For the period April 1 to June 30, 2010 Sales...If you fate to repay a plenteous essay, order it on our website: Ordercustompaper.com

If you want to get a full essay, wisit our page: write my paper