TSJ Limited is a manufacturing firm, specializing in construction equipment.  The following balances were extracted from the books at October 31, 2021.            Capital     48,000 Provision for unrealized profit       1,380 Stock at November 1, 2020:      Raw materials 7,000    Work-In-Progress 5,000    Finished goods 6,900 Purchases of raw materials 38,000 Direct labour 28,000 Rent & rates 35,000 Electricity 15,000 Postages & stationery 2,000 Administrative staff salary 19,380 Sales 192,000 Plant & Machinery at cost 30,000 Motor vehicles at cost 16,000 Provision for Depreciation:      Plant & Machinery 12,000    Motor vehicles 4,000 Creditors 5,500 Debtors 28,000 Drawings 11,500 Bank 16,600 Advertising 4,500   Additional Information: 55% of rent and rates relates to the office 60% of electricity relates to the factory Stock at 31 October 2021 were as follows:   Raw materials             $  9,000 Work in progress        $  8,000 Finished goods            $10,350 Factory cost is transferred to trading at a profit of 25% Depreciate plant and machinery at the rate of 10% per annum on the reducing balance method and motor vehicles at 25% per annum on cost Direct labour accrued at December 31,2020 amounted to $3,000 and rent and rates prepaid was $2,000 Required: Prepare a manufacturing, income statement for the year ended October 31, 2021                                                                         Prepare a statement of financial position as at October 31, 2021

You are provided with the following information taken from Splish Brothers Inc.’s March 31, 2022, balance sheet. Cash   $ 12,330 Accounts receivable   20,370 Inventory   36,900 Property, plant, and equipment, net of depreciation   120,500 Accounts payable   22,640 Common stock   153,800 Retained earnings   12,460 Additional information concerning Splish Brothers Inc. is as follows. 1.   Gross profit is 26% of sales.     2.   Actual and budgeted sales data:         March (actual)   $47,000     April (budgeted)   73,100   3.    Sales are both cash and credit. Cash collections expected in April are:     March   $18,800   (40% of $47,000)     April   43,860   (60% of $73,100)         $62,660       4.    Half of a month’s purchases are paid for in the month of purchase and half in the following month. Cash disbursements expected in April are:     Purchases March $22,640…

19. A listing of the estimated balances in the company's ledger accounts as of December 31, 2023 is given below (as well as in your Excel template): Cash Accounts receivable Inventory-raw materials Inventory-finished goods Capital assets (net) Assets $ 83,365 1,122,900 10,000 9,125 724,000 $1,949,390 Total assets Liabilities and Shareholders' Equity Accounts payable $ 231,563 Capital stock 1,000,000 Retained Earnings Total liabilities and shareholders' equity 717,828 $1,949,390 Required: 1. Prepare a monthly master budget for ToyWorks for the year ended December 31, 2024, including the following schedules (Use the Excel template provided!): Sales Budget & Schedule of Cash Receipts Production Budget & Manufacturing Overhead Budget Direct Materials Budget & Schedule of Cash Disbursements Direct Labour Budget Selling and Administrative Expense Budget Ending Finished Goods Inventory Budget Cash Budget 2. Prepare budgeted financial statements at December 31, 2024, using absorption costing.

Balance Sheet December 31, 2021 Current Assets: Cash 46,200 Accounts Receivable (net) 260,000 Raw materials inventory (4,500 yards) 11,250 Finished goods inventory (1,500 units) 32,250 Total current assets 349,700 Plant and equipment: Buildings and equipment 900,000 Accumulated depreciation (292,000) Plant and equipment, net 608,000 Total Assets 957,700 Liabilities and Stockholders' Equity Current liabilities: 158,000 Accounts Payable Stockholders' equity: Common stock 419,800 Retained earnings 379,900 Total stockholders; equty 799,700 Total liabilities and stockholder's equity 957,700 Additional Information The company's chief financial officer (CFO), in consultation with various managers across the organization has developed the following set of assumptions to help create the 2022 budget: 1 The budgeted unit sales are 12,000 units, 37,000 units, 15,000 units and 25,000 units for quarters 1-4, respectively. Notice that the company experiences peak sales in the second and fourth…

Prepare an income statement for Simpson Ltd for the month ended 31 July 2021

In alphabetical order below are current asset items for Roland Company's balance sheet at December 31, 2020. Accounts receivable Cash Finished goods Prepaid expenses Raw materials Work in process $214,000 65,000 88,000 39,000 91,000 94,000 Prepare the current assets section. (List Current Assets in order of liquidity.)

15. Selected information about income statement accounts for the Reed Company is presented below (the company's fiscal year ends on December 31):     2021   2020 Sales revenue $ 4,450,000 $ 3,550,000 Cost of goods sold   2,870,000   2,010,000 Administrative expense   810,000   685,000 Selling expense   370,000   312,000 Interest revenue   151,000   141,000 Interest expense   202,000   202,000 Loss on sale of assets of discontinued component   52,000   —    On July 1, 2021, the company adopted a plan to discontinue a division that qualifies as a component of an entity as defined by GAAP. The assets of the component were sold on September 30, 2021, for $52,000 less than their book value. Results of operations for the component (included in the above account balances) were as follows:     1/1/2021–9/30/2021   2020   Sales revenue   $ 410,000       $ 510,000   Cost of goods sold     (295,000 )       (326,000 ) Administrative expense     (51,000 )…