User Account

All Pages

Prepare an income statement for craigs pets

Assignment Help Financial Accounting
Reference no: EM13528548

In 2012 Craig Gonzales opened Craig's Pets, a small retail shop selling pet supplies. On December 31, 2012, Craig's accounting records showed the following:

Inventory on December 31, 2012 .......... $ 10,100
Inventory on January 1, 2012 ................ 15,400
Sales revenue .................................... 58,000
Utilities for shop .................................. 3,300
Rent for shop ..................................... 4,500
Sales commissions ............................... 2,850
Purchases of merchandise ...................... 26,000

Requirement

1. Prepare an income statement for Craig's Pets, a merchandiser, for the year ended December 31, 2012.

Reference no: EM13528548

Questions Cloud

Does every opportunity have its root in a relationship : Does every opportunity have its root in a relationship? How can relationships shape a career and a career path?
Prepare an income statement for charlies pets : Prepare an income statement for Charlies Pets, a merchandiser, for the year ended December 31, 2012.
Calculate the force of static friction acting on the block : A 2 kg block is pulled by the rope on the horizontal surface by a 3N force. The coefficient of the static friction (?s) equals 0.3. Calculate the force of static friction acting on the block
Explain what volume in liters of gaseous hydrogen chloride : What volume in liters of gaseous hydrogen chloride can be prepared from 40.0 liters of hydrogen with excess of chlorine. All volumes are measured at STP.
Prepare an income statement for craigs pets : Prepare an income statement for Craigs Pets, a merchandiser, for the year ended December 31, 2012.
Compute the molar mass of the unknown compound : An aqueous solution containing 35.9g of an unknown molecular (nonelectrolyte) compound in 159.9g of water was found to have a freezing point of -1.3 Celcius. Calculate the molar mass of the unknown compound.
Describe how the division addresses customer : Describe how the division addresses customer needs and achieves competitive advantage.
Calculate how far did neville climb : If Neville weighs 25 N and climbs a mountain and exerts 500 J of work, how far did Neville climb
Explain the maximum yield in grams of fe2o3 : If 100g of iron were reacted with 100g of oxygen according to the reaction below, the maximum yield in grams of Fe2O3 would be. 4 Fe(s) + 3 O2(g) >> 2 Fe2O3(s)

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd