Anal
Q: Design the cost system for Cathy and Tom showing the capacity costs and capacity in each season
A: Capacity cost Winter Fall Spring Summer Total 4400 4400 4400 Unused 2200 1100 - ...
Q: Redmont Company's gross salaries and wages are $14,000, and it withholds $2,100 for income taxes and...
A: Salaries and Wages Payable = Salaries and Wages Expense - Income taxes payable - FICA taxes payable ...
Q: 5. Purchased of assets on account * a. Increase in Asset and Increase in Liability b. Increase in As...
A: Purchase of asset on account result in asset is received and amount owed to creditors.
Q: When it comes to bonds, why is yield to maturity more essential than coupon rate?
A: The bonds are the financial instruments for the business, which are used by the business to raise mo...
Q: Twenty Twenty One Corp. Income Statement For the month ended December 31, 2020 Sales (P10/unit) ...
A: Contribution Margin ratio = Contribution Margin / Sales = 360,000/900,000 = 40%
Q: The following transactions relating to an enterprise. prepare sales, purchases, returns outward day ...
A: Day books includes books of account which are usually helps management to record their day to day tr...
Q: Grooming rituals include: O a. A vacation trip to Turkey. Ob. Attending a friend's wedding. Oc. Gift...
A: Grooming rituals include ones personal activities to make themselves neat and clean... For example a...
Q: The money creation (seigniorage) to finance government purchases a. is inferior to a non distortio...
A: Answer are as follows
Q: Identify the correct journal entry when cash is received from customers - periodic inventory system ...
A: Customers are accounts receivables which are decreased and cash is increased.
Q: ACCOUNTS Ex. Accounts Payable Accounts Receivable Cash Interest Payable Acain, Capital Notes Payable...
A: Introduction: Current liabilities: Amount is due which to be paid with in 12 months period of time c...
Q: 1. Aristorenas, Soriano and Filamor have the foļlowing profit and loss agreement: Partners Aristoren...
A: Note: “Since you have asked multiple question, we will solve the first question for you. If you want...
Q: Using the highest and lowest levels of activity for the past year, the cost function representing ma...
A: The cost function of maintenance cost y = 439,000 + 14x Where, P439,000 is the fixed cost P14 is t...
Q: Capetown Company began operations on January 1, 2010. Capetown has found that its estimated bad debt...
A: Bad debts expense = Credit sales x 3% + accounts written off during the year
Q: The receivable ledger account also known as a. Total receivables account b. Average receivables acco...
A: Receivables represent the amount owed by the customers to the business.
Q: Which is/are the adjustments necessary while admitting a new partner? a. Both Transfer of Undistribu...
A: Both, undistributed profit or loss and accumulated reserves are the result of work of existing partn...
Q: An entity reported pretax financial income of P8,000,000 for the current year. The taxable income wa...
A: Total tax payable = taxable income x income tax rate = P7,000,000 x 30% = P2,100,000
Q: Plum Corporation will begin operations on January 1. Earnings for the next five years are projected ...
A: Entity perspective of legal organization Business form include sole proprietorship, partnership, ...
Q: Income) Is- Single Married Married Head of a house- rafely hold At least But less than filing filing...
A: Alexis and Ashley are married filling jointly and their combined taxable income is $ 65230. As per t...
Q: What are some of the dangers associated with failing to develop and manage budgets?
A: The following are the dangers associated with failing to set and manage budgets: 1) Incorrect pricin...
Q: E4.5 (LO 2, 3) (Income Statement) Presented below is information related to Webster ple (amounts in ...
A: Income statement shows the net income or net loss calculated by deducting the expenses from the reve...
Q: Using the highest and lowest levels of activity for the past year, the cost function representing ma...
A: Cost function = y=439,000 + 14x Here, y = Total cost x = Level of activity
Q: Use the following information for numbers 29 and 30. 2010
A:
Q: Compute conversion costs given the following data: direct materials, $393,800; direct labor, $198,50...
A: Conversion Cost: It is the combination of direct labor and manufacturing overhead expenses is referr...
Q: Cliff Company traded in an old truck for a new one. The old truck had a cost of $300,000 and accumul...
A: Recorded value of new Truck = Fair value of the new Truck received where, Fair value of the new Tru...
Q: (B) The City of Presho had the following transactions related to the construction of a new courthous...
A: The statement of revenues, expenditures, and changes in fund balances is the governmental fund's inc...
Q: Bookmoto Marketing has the following transactions for the month of March, 200x: Mar 2 - Sold mercha...
A: Cost of goods sold = s sales x 60% = 630,000 x 60% = P378,000
Q: Why is the indirect method of cash flow confusing and why is it helpful?
A: Cash Flow Statement - Under Cash Flow there are three type activities involved - 1. Operating Activi...
Q: Cavy Company accumulated 570 hours of direct labor on Job 345 and 790 hours on Job 999. The direct l...
A: Journal is the book of original entry in which all the transactions of the business are recorded ini...
Q: Under the perpetual inventory system, in addition to making the entry to record a sale, a company wo...
A: In Perpetual inventory system, inventory gets updated on real time basis which means inventories are...
Q: What is the correct journal entry to record when transfer the total of the purchase daybook the doub...
A: Option:: Payables ledger control account Dr:::XXX.. To purchases account XXXX....
Q: Rhoont 26. Vvnat is uhe amount of collecion from customers assuming all sales were made on credit? A...
A: answer are as follows as per the guidelines we can provide the ans for one question. please post rem...
Q: Last year, Gladner Company had planned to produce 140,000 units. However, 143,000 units were actuall...
A: Since you have asked multiple question, we will solve the first question for you. If you want any sp...
Q: Use the following information for the next two (2) questions: Rift Stalk has the following informati...
A: Segment reporting: Under segment reporting , Operating segments of a company is reported in the dis...
Q: 1 Example: The data for the set-up activity in the microchip manufacturing company are shown as foll...
A: Variable costing income statement A variable costing income statement is prepared to arrive at cont...
Q: The following transactions relating to an enterprise. prepare sales, purchases, returns outward day ...
A: Journal means the book of prime entry where all entries are recorded in different pages. Sales book...
Q: Why can the formal announcement of a new system technique be crucial?
A: The announcement in Form: A formal announcement in the context of a new system method informs worker...
Q: The partner's capital accounts in AB partnership before the admission of a new partner are as follow...
A: Admission of New Partner: Only with the approval of all current partners, unless otherwise agreed, m...
Q: The following Statement of Cash Receipts and Disbursements was prepared by the bookkeeper of The Anc...
A: The given data is on cash basis, but the statement of Revenue and Expenditure is prepared on accrual...
Q: Solano Company has sales of $520,000, cost of goods sold of $380,000, other operating expenses of $5...
A: Residual income - Residual income means income earned even if the process to generate those income s...
Q: Juancho died leaving a hologram will. In the last will, he identified his wife, all his 3 legitimate...
A: Ans. P 12,00,000 Solution: Total distributable estate of Juancho= P 24,000,000 Wife inheritance as...
Q: You place an order for 440 units of inventory at a unit price of $105. The supplier offers terms of ...
A: Note: 1/10, net 90: Here, 1 represents the discount rate if payment is made within ten days. And if ...
Q: Activity Cost Activity Base Procurement $370,000 Number of purchase orders Scheduling 250,000 Number...
A: The overhead rate can be calculated by traditional costing or activity based costing.
Q: The torleaing trial balance kas ben draen uptrom a boclkrhop Trial balance as at 31 DOC 2028 Cr Dr S...
A:
Q: On December 31, 2019, an entity reported a deferred tax liability of P600,000 and a deferred tax ass...
A: Increase in deferred tax liability = Ending deferred tax liability - Beginning deferred tax liabilit...
Q: Diego Company manufactures one product that is sold for $80 per unit in two geographic regions—the E...
A: Unit product cost under variable costing is $ 40
Q: Machinery is purchased with an initial cost of $ 100,000. Operation and maintenance costs are $ 5,00...
A: Equivalent Annual Value=Net Present ValuePresent Value Annuity Factor (PVAF)
Q: if you are a business owner, how do you think financial ratios help the business
A: 1) By calculating financial ratios an entity can easily compare it's performance with other entities...
Q: Compute the ending inventory using lower-of-average-cost-or-market. (Round ratios for computational ...
A: The cost of acquiring products that have not yet been sold is known as inventory. In the balance she...
Q: Jungkook Inc. had the following bank reconciliation at March 31, 2020: Balance per bank statem...
A: Bank reconciliation statement is prepared where an entry which is found in one book (Cash book or ba...
Q: Distribution of Profits and Losses: 1. The ABC partnership provided for the following distribution o...
A: Partnership means where two or more person comes together to do some common business activity and ea...
Below are the two basic financial statements of Chiz Trading Company. You are tasked to prepare an analysis using Horizontal and Vertical Analysis of their two-dated financial statements. In addition to this you have been tasked to prepare financial ratios measuring the company’s:
- Liquidity Status
Current Ratios - Quick Asset Ratios
- Efficiency Status
- Asset Turnover
- Fixed Asset Turnover
- Inventory Turnover
- Days in Inventory
Accounts Receivable Turnover- Days in Receivable
- Profitability Status:
- Gross Profit margin Ratio
- Operating Income Ratio
- Net Profit Ratio
- Return on Assets
- Return on Equity
Step by step
Solved in 4 steps
- Return on assets The following data (in millions) were adapted from recent financial statements of Tootsie Roll Industries Inc. (TR): The percent a company adds to its cost of sales to determine selling price is called a markup. What is Tootsie Roll’s markup percent? Round to one decimal place.Income Statement for Year Ended December 31, 2018 (Millions of Dollars) Net sales 795.0 Cost of goods sold 660.0 Gross profit 135.0 Selling expenses 73.5 EBITDA 61.5 Depreciation expenses 12.0 Earnings before interest and taxes (EBIT) 49.5 Interest expenses 4.5 Earnings before taxes (EBT) 45.0 Taxes (40%) 18.0 Net income 27.0 a. Calculate the ratios you think would be useful in this analysis. b. Construct a DuPont equation, and compare the companys ratios to the industry average ratios. c. Do the balance-sheet accounts or the income statement figures seem to be primarily responsible for the low profits? d. Which specific accounts seem to be most out of line relative to other firms in the industry? e. If the firm had a pronounced seasonal sales pattern or if it grew rapidly during the year, how might that affect the validity of your ratio analysis? How might you correct for such potential problems?Sales transactions Using transactions listed in P4-2, indicate the effects of each transaction on the liquidity metric working capital and profitability metric gross profit percent. Indicate the gross profit percent for each sale (rounding to one decimal place) in parentheses next to the effect of the sale on the company’s ability to attain an overall gross profit percent of 30%.
- 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 total assetsTwenty 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 Instuctins Times preferred earnedProfitability ratios The following selected data were taken from the financial statements of Robinson Inc. for December 31, 2016, 2015 and 2014: December31 2016 2015 2014 Total assets......................................... 4,800,000 4,400,000 4,000,000 Notes payable (8% interest)........................... 2,250,000 2,250,000 2,250,000 Common stock...................................... 250,000 250,000 250,000 Preferred 4% stock, 100 par (no change during year)........................... 500,000 500,000 500,000 Retained earnings................................... 1,574,000 1,222,000 750,000 The 2016 net income was 372,000, and the 2015 net income was 492,000. No dividends on common stock were declared between 2014 and 2016. a. Determine the rate earned on total assets, the rate earned on stockholders equity, and the rate earned on common Stockholders equity for the years 2015 and 2016. Round to one decimal place. b. What conclusions can be drawn from these data as to the companys profitability?
- 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 Price-earnings rationJuroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Required: 1. Calculate the return on sales. (Note: Round the percent to two decimal places.) 2. CONCEPTUAL CONNECTION Briefly explain the meaning of the return on sales ratio, and comment on whether Juroes return on sales ratio appears appropriate.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 Ratio of fixed assets to long-term liabilities