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  • Grenell Farm Case

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    Prashant Kumawat
    20 visualizzazioni4 pagine
    The document contains the income statement and balance sheet for Grennell Farm for the year 2005. The income statement shows revenues of 522,000 INR and net profits of 246,660 INR under the sales method. The balance sheet lists assets such as land, buildings, and inventory, as well as liabilities and equity totaling 593,390 INR under the sales method.

    Descrizione originale:

    Financial accounting Gernell Farm case

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    The document contains the income statement and balance sheet for Grennell Farm for the year 2005. The income statement shows revenues of 522,000 INR and net profits of 246,660 INR under the sales method. The balance sheet lists assets such as land, buildings, and inventory, as well as liabilities and equity totaling 593,390 INR under the sales method.

    Copyright:

    © All Rights Reserved
    Scarica in formato XLSX, PDF, TXT o leggi online su Scribd
    Segnala contenuti inappropriati
    20 visualizzazioni4 pagine

    Grenell Farm Case

    Caricato da

    Prashant Kumawat
    The document contains the income statement and balance sheet for Grennell Farm for the year 2005. The income statement shows revenues of 522,000 INR and net profits of 246,660 INR under the sales method. The balance sheet lists assets such as land, buildings, and inventory, as well as liabilities and equity totaling 593,390 INR under the sales method.

    Copyright:

    © All Rights Reserved
    Scarica in formato XLSX, PDF, TXT o leggi online su Scribd
    Segnala contenuti inappropriati
    di 4

    Particulars

    Revenue from products


    Total Production Cost
    Annual Cost (Not related to production volume)
    Net Profit
    Total

    Grennell Farm
    Income Statement (2005)
    Sales Method
    Revenue
    522,000.00

    522,000.00

    Grennell Farm
    Income Statement (2005)
    Sales Method
    Collection Method
    Production Method
    Expense
    Revenue
    Expense
    Revenue
    Expense
    462,400.00
    614,100.00

    92,340.00

    82,080.00
    107,730.00
    183,000.00
    ###
    183,000.00
    246,660.00
    197,320.00
    323,370.00
    522,000.00 462,400.00 462,400.00 614,100.00 614,100.00

    Particulars
    Checking A/C Balance
    Money Market A/C Balance
    Land
    Building and Machinery
    A/C Receivable
    Inventory (for unsold goods)

    Grennell Farm
    Balance Sheet (2005)
    Sales Method
    Asset
    Liabilities

    7,700.00

    23,200.00

    375,000.00

    112,500.00

    59,600.00

    15,390.00

    Current Liabilities
    Common Stock
    Additional Paid-in Capital
    Retained Earning

    Total

    Net Profit
    Retained Earning of current year
    Drawing of current year

    593,390.00

    33,000.00
    7,500.00
    450,000.00
    102,890.00

    593,390.00

    246,660.00
    102,890.00
    143,770.00

    Farm
    et (2005)
    Collection Method
    Asset
    Liabilities

    7,700.00

    23,200.00

    375,000.00

    112,500.00

    25,650.00

    544,050.00

    Production Method
    Asset
    Liabilities
    ###
    ###
    ###
    ###

    151,700.00

    ###
    ###
    ###
    53,550.00

    544,050.00

    197,320.00
    53,550.00
    143,770.00

    670,100.00

    33,000.00
    7,500.00
    450,000.00
    179,600.00

    670,100.00

    323,370.00
    179,600.00
    143,770.00

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