accounting .......how?????????

As on dec 31,2007, the moon star manufacturing co.with outstanding capital stock of RS.45,000 had the following assets and liabilities: cash RS.7500, accounts receivable RS.15000,stores RS.6000. work in process RS.3000.finished good s RS.9000.prepaid expenses RS.750. fixed assets RS.45000(net) , current liabilities RS.26250. during the year 2008,the retained earning increased 75% as a result of the year's business. no dividends were paid during the year.balance of accounts receivable,prepaid expenses,current liabilities and capital stock were the same on dec 31,2008, as they had been on dec 31, 2007 . reduced as dtore by 40% , work in process by 50 % and finished goods by 33 1/3 % . fixed assets (net) were reduced by depreciation @ 10%p.a. on net value. depreciation is charged 2/3 to manufactureing and 1/3 to administrative expenses . sales were made on account at 75% above their cost of RS.60000.direct labor cost was RS.13500.manufacturig expense were applied @ 100% of direct labor. leaving RS.3000 under-applied that was included in cost of goods sold. total selling expenses and administrative expenses amounted to 10% and 15% respectively of gross sales . other expenses paid were RS.7500. REQUIRED: (a) A balance sheet as of dec 31, 2008. (b) an income ststenment for the year 2008 including there in or in a separate schedule the details of cost of good s manufactured and sold thank plzz answer me soon ..... is any lzz answer me i have done this question just like to have urs point of views

4 months ago - 1 answers