A firm reports sales of 260,000. It had opening stock of 60,000 and purchases of 150,000. Given that the firm has a margin of 3 / 10. What was the value of the closing stock? 10,000 28,000 78,000 200,000
Q: vet income? Units sold = 8700 games units Selling price per unit = $ 69 Variable expenses = $ 49…
A: Cost volume profit analysis is the technique used by the management for decision-making. The methods…
Q: Administrative Expenses $ 250,000 Building 1,025,000 Cash 97,000 Cost of Merchandise Sold 1,400,000…
A: Introduction: Income statement: All revenues and expenses are to be shown in income statement. It…
Q: The first cost of a machine is P1,800,000 with a salvage value of P300,000 at the end of its life of…
A: Rate of depreciation under declining balance method = 1useful life ×100 = 15×100 = 20% Sum of useful…
Q: The entry under the proportional method to record the revaluation includes a. debit to accumulated…
A:
Q: Hill, Williams, and Kelce are partners and share income in a 1:2:2 ratio (in ratio form: Hill, 1/5;…
A: = 50 % ( $21000 - $15000 ) = 50% × $6000 $3000
Q: ILLUSTRATE THE VARIOUS COST CLASSIFICATIONS. (PLEASE INCLUDE PHOTOS OR TEXT FOR THE EXPLANATION)…
A: A variable cost is a cost that varies,in total,in direct proportion to changes in the level of…
Q: Beginning inventory and purchases Units Unit Cost Total Cost Jan 1 60 $7 $420 April 1 45
A: Formula: WAC = Cost of goods available for sale / Units available for sale
Q: Cash balance per bank $4,500 Outstanding checks $200 Deposits in transit $1,000 Credit memo for…
A: Introduction: Bank reconciliation statement: To reconcile the differences between cash and pass book…
Q: Partners are taxed on their withdrawals, not on their share of partnership income. True or False
A: A partnership is a form of business in which two or more two individuals agree to operate a…
Q: 1. Create and Income Statement with schedules for BLAZING ENTERPRISES for the Year Ended December…
A: Income statement is one of the financial statement which shows all incomes and expenses of the…
Q: Melisandre Merchandising sold merchandise on credit to Ellaria, terms 2/10, r/45, $25,000, on April…
A:
Q: Stockholders' equity consists of paid-in (or contributed) capital and retained earnings. True or…
A: The stockholder's equity is the remaining amount of assets after paying out its total liabilities.…
Q: and Income Statement
A: Operating revenue refers to the amount of revenue that is to be attained after adjusting all the…
Q: A4) Finance Under s7 of the Resource Management Act, in achieving the purpose of the Act all persons…
A: Answer:- Resource Management meaning:- When an organization's resources are needed, resource…
Q: Which of the following shows the effects of paying a cash dividend on the accounting equation?…
A: When cash dividend is paid the following accounts are affected: Cash will reduce with the amount of…
Q: McDaniel Corporation manufactures surveying equipment. Journalize the entries to record the…
A: Journal entry: The first step in accounting is a journal entry, which is used to record a business…
Q: The cash-management process includes three elements: (1) controlling the cash-collection and…
A: Answer:- a Following are 5 various options that can use to manage cash balances:- 1. Keep track of…
Q: A small welding business owner is considering a new contract. The project requires purchasing a new…
A: Project Evaluation: An evaluation of a project is a methodical and impartial analysis of a project…
Q: Crane Corporation had the following transactions during its first month of operations: 1. Purchased…
A: No General Journal Debit Credit 1 Raw material $69,700 Accounts payable $69,700 (to…
Q: ears? :An engineer deposits $ 1000 in an account. If the bank pays interest rate of 6% per year.…
A: Simple Interest: It is the amount which is given by the borrower to lender at agreed rate of…
Q: Reina Company maintained its books on a cash basis. During the current year, the entity collected…
A: Accrual basis: Under accrual basis accounting, revenue and expenses are recognized when they are…
Q: Sunspot Beverages, Limited, of Fiji uses the weighted-average method in its process costing system.…
A: "Since you have asked multiple questions, we will solve first three sub parts for you. To get…
Q: A pair of shoes is been sold for $38.49. b) The following option represents the best tax estimation…
A: Disclaimer: "Since you asked multiple questions in a single question hence we solved the first…
Q: The IESBA Code of Ethics for Professional Accountants highlights a number of areas in which threats…
A: Advocacy threat refers to the threat which exists when the auditor is involved in promoting the…
Q: 1. An individual has year-to-date earnings prior to the current period of $168,500, earns $3,600…
A: As per the honor code, We’ll answer the first question since the exact one wasn’t specified. Please…
Q: How to journalize entries from accounting for purchase with frieght transaction?
A: On any purchase if freight charges paid it is called freight in charges and it is part of cost of…
Q: A firm's stock has a beta of 1.75, Treasury bills yield 3.8%, and the market portfolio offers an…
A: Weighted average cost of capital is the combined cost of both debt and equity for the business.
Q: QUESTION 3 Income statement for the year ended 31 December 2021 and the balance sheet as at 31…
A: 1. Statement of Cash Flow - Statement of Cash Flow is the statement that show movement of cash…
Q: A recliner chair that sells for $1,469 is marked up 45% of the selling price. a. What is the markup?…
A: market price in generally over and above the cost price. in general sense we can say that markup is…
Q: 8% preferred stock, $10 par value, 53000 shares authorized; 43000 shares issued Common stock, $10…
A: Shareholders equity also known as net worth is the amount contributed by the owners into the…
Q: . Equivalent units of production based on FIFO are: 100,000 units material, 90,000 units conversion.…
A: Equivalent units are number of units that are completed or manufactured in the particular time…
Q: Problem 14-16 (PHILCPA Adapted) Calapan Company provided the following data: January 1 1,200,000…
A: Accrual Basis- Accrual accounting is founded on the idea of recording transactions as they happen.…
Q: b) ISA 300 planning an audit of financial statements provides guidance to assist Auditors in…
A: Audit planning refers to the means of developing the general strategy as well as detailed approach…
Q: 1. Of the cafeteria plans listed, which is NOT a voluntary nontaxable deduction? Answer: A.…
A: * As per Bartleby policy, if multiple different questions are asked then answer first only.…
Q: Debt issuance costs are: Accounted for as a deduction from the equity balance on the balance sheet…
A: Debt Issuance costs Accounted for as a deduction from the equity balance on the balance sheet
Q: Dr. (1) Accrue salaries expense. Cr. Cr. (2) Adjust the Unearned Services Revenue account to…
A: Adjusting journal entry: At year-end when the company finalizes its accounts then any unrecognized…
Q: Accounting Cherry Corporation had 600,000 shares of common stock outstanding during 2020. In…
A: Answer a:- EPS = $1.67. Explanation:- Computation of EPS:- EPS = Net Income / Outstanding shares…
Q: Prepare income statement Particulars Sales Purchases Salaries Ali Mamat Enterprise Trial Balance as…
A: Introduction: Income statement: All revenues and expenses are to be shown in income statement. It…
Q: Northwood Company manufactures basketballs. The company has a ball that sells for $25. At present,…
A: Solution 1-a: Sales Price 25 Less: Variable cost per unit 15 Contribution Margin per unit 10…
Q: Key figures for Samsung follow (in $ millions). Cash and equivalents $23,069 Cost of sales $ 126,336…
A: 1. $ millions Samsung Cash and equivalents 7.62 % 23,069 Accounts receivable, net 9.96 %…
Q: 1. On January 1, 2022 the company purchased 200,000 materials on account, with terms: 6%, 5/20,…
A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for…
Q: Is this statement true or false? And why? The investment in a subsidiary (SME) can be justified…
A: Corporate Social Responsibility: The notion of "Corporate Social Responsibility" (CSR) in management…
Q: A furniture store is selling a dining room set for a cash price of $979 plus HST. They also have an…
A: Note: As per the Policy,We’ll answer the first question since the exact one wasn’t specified. Please…
Q: During 2019, Minh Corporation had a net income of $144,000. Ordinary share capital was $200,000…
A: The cash flow statement is prepared to record the cash flow from various activities such as…
Q: Several accounts that appeared on Spring's 2017 balance sheet are as follows: Accounts Payable…
A: Current assets is the assets in the form of cash or can be converted in cash within a year. Current…
Q: Who of the following is an activity-based pricing limitation? Each important action accumulates…
A: Activity based pricing is method where cost is allocated basis the cost drivers. ABC systems…
Q: From the following, calculate the cost of ending inventory and cost of goods sold for the LIFO…
A: Under the LIFO method, goods purchased at last are sold first and the initial purchases constitute…
Q: Jerry and sallie we divorced in July 1, 2020 the terms of the agreement provide that jerry will…
A: The gain can be defined as the increase in the value of assets or realizing the gain by selling the…
Q: Malume Ltd manufactures and sells a special cellphone for $20. The summarized income statement from…
A: Breakeven point (BEP) refers to the level of sales (either in amount or units) to be made where the…
Q: 1. An employee whose current-year earnings subject to Social Security tax are $137,900 and whose…
A: As per the honor code, We’ll answer the first question since the exact one wasn’t specified. Please…
- A firm reports sales of 260,000. It had opening stock of 60,000 and purchases of 150,000.
Given that the firm has a margin of 3 / 10. What was the value of the closing stock?
- 10,000
- 28,000
- 78,000
- 200,000
Step by step
Solved in 3 steps
- Rebert Inc. showed the following balances for last year: Reberts net income for last year was 3,182,000. Refer to the information for Rebert Inc. above. Also, assume that the market price per share for Rebert is 51.50. Required: 1. Compute the dollar amount of preferred dividends. 2. Compute the number of common shares. 3. Compute earnings per share. (Note: Round to two decimals.) 4. Compute the price-earnings ratio. (Note: Round to the nearest whole number.)Rebert Inc. showed the following balances for last year: Reberts net income for last year was 3,182,000. Refer to the information for Rebert Inc. above. Also, assume that the dividends paid to common stockholders for last year were 2,600,000 and that the market price per share of common stock is 51.50. Required: 1. Compute the dividends per share. 2. Compute the dividend yield. (Note: Round to two decimal places.) 3. Compute the dividend payout ratio. (Note: Round to two decimal places.)If total assets are $20,000 and total liabilities are $12,000, the amount of stockholders’ equity is: A. $32,000. B. $(32,000). C. $(8000). D. $8,000.
- Rebert Inc. showed the following balances for last year: Reberts net income for last year was 3,182,000. Refer to the information for Rebert Inc. above. Required: 1. Calculate the average common stockholders equity. 2. Calculate the return on stockholders equity.For a recent year, OfficeMax and Staples are two companies competing in the retail office supply business. OfficeMax had a net income of 34,894,000, while Staples had a net loss of 210,706,000. OfficeMax had preferred stock of 28,726,000 with preferred dividends of 2,123,000. Staples had no preferred stock. The average outstanding common shares for each company were as follows: a. Determine the earnings per share for each company. Round to the nearest cent. b. Evaluate the relative profitability of the two companies.Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $119.70 on December 31, 20Y8 Instructions Return on stockholders’ equity
- James Corporation earned net income of $90,000 this year. The company began the year with 600 shares of common stock and issued 500 more on April 1. They issued $5,000 in preferred dividends for the year. What is the EPS for the year for James (rounded to the nearest dollar)?Bastion Corporation earned net income of $200,000 this year. The company began the year with 10,000 shares of common stock and issued 5,000 more on April 1. They issued $7,500 in preferred dividends for the year. What is the EPS for the year for Bastion?Senji plc applies a mark-up of 40%. At the start and end of the year, stockwas valued at £25,000 and £22,000 respectively. During the year cash purchases were £15,000 and credit purchases of £90,000. What was the value of sales for the year? a) £151,200b) £142,800c) £170,000d) £180,000
- Dellf’s has a profit margin of 3.8 percent on sales of $287,200. The firm currently has 5,000 shares of stock outstanding at a market price of $7.11 per share. What is the price-earnings ratio? Can you provide the formula?(a) Calculate and Closing stock from the following information:-Total sales Rs 600000Gross Profit 25% on SalesStock Turnover Ratio = 5 timesClosing stock is Rs. 12000 more than opening stock(b) Gross Profit Ratio of a company was 25%. Its cash sales were Rs. 200000 and its credit Sales was 90% of the total sales. If the indirect expenses of the Company were Rs. 20000. Calculate net Profit ratio.Alpha Ltd has a gross profit margin of 40%. At the start and end of the year, stock was valued at £17,000 and £20,000. During the year Alpha Ltd made cash purchases of £15,000 and credit purchases of £50,000. What was the value of sales for the year? a) £62,000 b) £103,333 c) £99,200 d) £161,200
