Accounting

SANDEE ANGELI M. VILLARTA ASSIGNMENT IN MANAGERIAL ACCOUNTING CASE 1- 1 1.a. How would you report on the triple-month motions of Ribbons an Bows, Inc., through June 30? b. Was the community profitable? (Ignore income taxes.) c. why did its coin in the bank twilight during the trio-month operating goal? 2. How should you report the financial condition of the task 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) capital for ribbons and accessories and credit gross revenue ($320). Cost of sales is derived from the following equivalence: beginning merchandise inventory ($3,300) cocksure purchases ($2,900) less determination merchandise inventory $4,100 equals cost of sales $2,100. bout put down is $1,800 of $600 per month times three months. Part-time employee disbursals ($1,600) is the sum of cash paid ($1510) plus beat owed ($90). The p repaid advertising ($cl) was streamlet by the local physical composition on April2. The benefit of the summation expired so the summation became an spending. The commercial sewing work purchased led to a $1,800 asset being recorded. The assets benefit was partially consumed during May and June resulting in a $60 disparagement charge.

roughly of the future benefits of the computer and related software asset were consumed during the three month period. A $250 depreciation charge must be recognized. Carman has rented the cousins property for four month. The cousins loan is $10,000. ($10,000*0.6*4/12)=200. Thus, the lodge in for four month is $200. Rent! expense ($600 x 3)$1,800 Salaries expense (part time employee) (cash $1,510 + accounts payable $90) $1,600 p requite advertising expense$150 Sewing work$1,800 Depreciation expense sewing machine$60 Depreciation expense - computer$ 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 want to repay a full essay, order it on our website: OrderCustomPaper.com

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