+- Accountancy Forum (https://www.accountancy.com.pk/forum)
+-- Forum: The Profession (https://www.accountancy.com.pk/forum/forum-the-profession)
+--- Forum: Students (https://www.accountancy.com.pk/forum/forum-students)
+--- Thread: Help to understand my assignment (/thread-help-to-understand-my-assignment)
Help to understand my assignment - lily_katherine89 - 08-03-2010
Hi everyone, I am Lily, Vietnamese. Since my English is not good, so I am not able to understand Accounting subject well, can anyone here help me for my assignment. Anyway, I will not just copy, instead of that I'll read your instruction, and try to understand that.
This is my assignment.
Cash and cash equivalents 200,000
bank overdraft 50,000
accounts receivable 450,000
allowance for doubtful accounts 20,000
raw materials 280,000
goods in process 300,000
finished goods 700,000
available for sale investments 1,250,000
land 500,000
building 3,000,000
accumulated depreciation-building 800,000
plant and equipment 1,200,000
accumulated depreciation-plant and equipment 200,000
patent 400,000
goodwill 700,000
notes payable-bank due 6/30/2010 650,000
notes payable-bank due 6/30/2011 1,050,000
accounts payable 500,000
employee benefit provisions 90,000
warranty liability 40,000
income tax payable 60,000
deferred tax liability 140,000
retained earnings-1/1/2009 1,800,000
dividends 500,000
revaluation surplus-1/1/2009 180,000
unrealized gain on AFS-1/1/2009 140,000
share capital 3,000,000
sales 5,000,000
unrealized gain on AFS during the year 50,000
revaluation surplus on hand during the year 70,000
cost of good sold 3,000,000
distribution costs 980,000
administrative expenses 250,000
finance costs 50,000
income tax expense 80,000
The entity issued shares at the par value of P800,000 during the year. Cash dividends of P300,000 were paid and stock dividends of P200,000 were issued on December 31,2009.
Require prepare a statement of comprehensive income, a statement of changes in equity and a statement of financial position.
Plz help me to solve that, I'm not a lazy student, My problem is that I do not only understand well some English term in Accounting (I'm Vietnamese but studying in Philippines), but also I don't have any key, or standard to compare, to see. Thank you very much!
To Mod. and Admin (Hopefully, I post this in right forum, 'cause I see Students forum description also assignments)