Accounting

SANDEE ANGELI M. VILLARTA ASSIGNMENT IN MANAGERIAL ACCOUNTING CASE 1- 1 1.a. How would you report on the triple-month executions of Ribbons an Bows, Inc., through June 30? b. Was the keep company profitable? (Ignore income taxes.) c. why did its coin in the bank wane during the iii-month operating goal? 2. How should you report the financial condition of the personal line of credit on June 30, 2010? 3. Do you believe Carmens first three months of operation could be characterized as successful? Explain your answer. 1 a. guest paid ($7,400) capital for ribbons and accessories and credit gross gross revenue ($320). Cost of sales is derived from the following equivalence: beginning merchandise inventory ($3,300) plus 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 sum up owed ($90). The prepaid advertising ($ one hundred fifty) was streamlet by the local paper on April2. The benefit of the addition expired so the asset became an write off. 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 wear and tear charge.

roughly of the future benefits of the computer and relate 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 have-to doe with 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 retaliate advertising expense$150 Sewing gondola$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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