Ouestion The following were the balances of the partnership between Cryn and Pencil an at 3 December 2009 Crayon 600r Aenng do jende 000 OF 000 0E Current accounts on 1 January 2009 Pencil Drawings during the year 000 9 Pencil Land and building. 000 091 000 S1" 000 0 Cash and bank. Bank loan. Electricity Office salaries. Advertising. Bad debts. Provision for bad debts. Debtors. Creditors. Provision for depreciation: equipment. Stock on 31 December 2009. Gross profit for the year. 000 06 00t 000 0F 000 0E 00. 00L 000 9' 9 500 000 Z 000 0E" 0000 Additional information available includes: The provision for bad debts is to be increascd by $50 ii. The amount of advertising includes a payment of $120 for 2004 iii. There is an electricity bill of $145 due iv. Equipment is to be depreciated at 20% on cost per annum V. Interest on capital is allowed at 20% per annum vi. Interest on drawings is 5% per annum vii. Profits and losses are to be shared in the ratio 2:3 between Crayon and Pen Draft the Profit and Loss Appropriation Account for the year ended 31 De B. Write up the Capital and Current Accounts of Crayon and Pencil.

Ouestion The following were the balances of the partnership between Cryn and Pencil an at 3 December 2009 Crayon 600r Aenng do jende 000 OF 000 0E Current accounts on 1 January 2009 Pencil Drawings during the year 000 9 Pencil Land and building. 000 091 000 S1" 000 0 Cash and bank. Bank loan. Electricity Office salaries. Advertising. Bad debts. Provision for bad debts. Debtors. Creditors. Provision for depreciation: equipment. Stock on 31 December 2009. Gross profit for the year. 000 06 00t 000 0F 000 0E 00. 00L 000 9' 9 500 000 Z 000 0E" 0000 Additional information available includes: The provision for bad debts is to be increascd by $50 ii. The amount of advertising includes a payment of $120 for 2004 iii. There is an electricity bill of $145 due iv. Equipment is to be depreciated at 20% on cost per annum V. Interest on capital is allowed at 20% per annum vi. Interest on drawings is 5% per annum vii. Profits and losses are to be shared in the ratio 2:3 between Crayon and Pen Draft the Profit and Loss Appropriation Account for the year ended 31 De B. Write up the Capital and Current Accounts of Crayon and Pencil.

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter19: Variable Costing (varcost)

Section: Chapter Questions

Problem 4R: To determine the effect of different levels of production on the company’s income, move to cell B7...

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To determine the effect of different levels of production on the company’s income, move to cell B7 (Actual production). Change the number in B7 to the different production levels given in the table below. The first level, 100,000, is the current level. What happens to the operating income on both statements as production levels change? Enter the operating incomes in the following table. Does the level of production affect income under either costing method? Explain your findings.
Dake Coporaton elevant ange of actvity s 2800 unts 060 unes henolloesDirect aterialsDirect laborVariable anfacturing verheadFixed manufacturing overbeadFived selling eNpeeseFixed adainistrative espeseSales commissioesVariable aninistrative eeseegeMule ChoceCest peatFor financial repotg parpses the otal amaut of arotuct coss ue t make &nee