Thread Started by #smart yousufzai

can anybody make INCOME STATEMENT & BALANCE SHEET for the below mentioned DATA. THE FINANCIAL PERIOD IS 1-3-2009 TO 28-2-2010
CASH SALES : 1021028
CREDIT SALES : 3559302
SALES RETURN : 29419
OPENING MERCHANDISE INVENTORY : 808462
PURCHASE: 3956573
PURCHASE RETURN : 113835
ENDING MERCHANDISE INVENTORY : 929914
INSURANCE EXP : 119037
GENERAL EXPENSE : 131110
A/C RECEIVABLE (CLOSING BALANCE 28-2-2010):1161468
BAD DEBTS: 2064
A/C PAYABLE (CLOSING BALANCE 28-2-2010): 912958
4th April 2010 From Qatar, Doha
Dear smart yousufzai
Please do not seek such help which amount to spoon-feeding or off-loading your Home-work to others.
It is a very very small problem in Financial Accounting, which a fresher would be able to solve easily.
Have you familiarized yourself with the "items" that constitute a Balance Sheet and an Income Statement ?
You have to identify and segregate them, work around a bit and arrange them in proper order for both the statements - that's all that requires to be done.
5th April 2010 From India, Delhi
Raj bro,
i have already made my self that income statement and balance sheet but i am not sure that is correct or wrong that's why i asked here if somedy make it so i can double check with my income statement and balance sheet.
5th April 2010 From Qatar, Doha
Dear smart yousufzai In that case, it is advisable to submit your B/S and P&L a/c and seek the opinion of members; rather than quizzing members.
6th April 2010 From India, Delhi
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