b) A trader buys a set of accessories that is listed at RM8000 with trade discounts of 15% and 5%. If he sells the set at a net profit of 40% based on cost, the operating expenses are 8% on cost, find i) the net profit, ii) the selling price, the breakeven price, iii) iv) the maximum markdown that could be given without incurring any loss.
Q: on Item No. 24 13 e following information: A, B, C are partners. On December 31, 200C, their capital…
A: "Since you have asked multiple questions, we will solve first question for you. If you want any…
Q: Turnover Cost of sales Stocks Bank Trade creditors Accruals Gross profit Gross profit Margin %…
A: Gross Profit=Gross ProfitTurnover×100
Q: Consolidated Statements of Income Years Ended December ($ millions) July 27, 2019 July 28, 2018…
A: Note: Hi! Thank you for the question, As per the honor code, we are allowed to answer three…
Q: I REPEAT. TYPEWRITTEN ONLY ANSWERS DO NOT ANSWER IF YOU ALREADY ANSWERED THIS. DO THIS TYPEWRITTEN…
A: 1. Income Statement 2. Balance Sheet The first statement shows the income earned and loss incurred…
Q: Prepare an adjusted trial balance from the following account information, and also considering the…
A: The adjustment entries are prepared to adjust the revenue and expenses of the current period. The…
Q: Deporte Company produces single-colored t-shirts. Materials for the shirts are dyed in large vats.…
A: Accountants meticulously record data in a specific order and format. This allows them to quickly…
Q: Learning Competency: Posts transactions in the ledger. (ABM_FABM11-IVa-d-31) Activity 1…
A: As per your requirement ledger accounts uploading below
Q: For the next five (5) questions: On January 1, 2022, when the prevailing market rate on similar…
A: In the context of the given question, we are required to compute the interest income to be…
Q: Duo, Incorporated, carries two products and has the following year-end income statement (000s…
A: Introduction:- The following formula used to calculate as follows under:- Sale volume variance on…
Q: Pedro Reyes purchased a delivery vehicle on January 1, 2016 amounting to PHP250,000. It is estimated…
A: Introduction: Straight line method depreciation = ( Asset cost - Salvage value ) / Useful life years
Q: Under what circumstances would you consider buying or renting a house?
A: Although both renting and buying have financial benefits, homeownership is not for everyone. Unlike…
Q: Entity XYZ acquires a machine for CU100,000. The machine has an estimated useful life of 5 years and…
A: In the context of the given question, we are required to compute the current tax, deferred tax,…
Q: The following financial statement Required: Fill the missing amounts. (Hint: There are 6 missing…
A: Lets understand the basics. As per balance sheet equation, total assets is always equal to total…
Q: QUESTION 1 Khaled has developed a new technology device that is so exciting he is considering…
A: (Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the…
Q: A payment of $2,450 is due in 2 years and $3,300 is due in 4 years. These two original payments are…
A: A payment of $2450 is due in 2 years and $3300 is due in 4 years. These two original payments are to…
Q: Refer again to the data in (2) above. The president feels that the company must raise the selling…
A: Selling price is the rate in terms of money at which units produced are sold to the customers.
Q: Activity 1 Preparing the Closing Entries Listed below are the accounts taken from the December 31,…
A: Closing entries are used to close the temporary accounts to the permanent account. The income…
Q: Rodgers Company gathered the following reconciling information in preparing its May bank…
A: Introduction: BRS : BRS stands for Bank Reconciliation statement. To reconcile the difference…
Q: On January 1, 2022, Tamarisk, Inc. purchased 1,500 shares of treasury stock. Other information…
A: Return on stockholders equity = (Net income - Preferred dividends) /Average common stockholders…
Q: Al Rahami Shop started the year with total assets of OMR210,000 and total liabilities of OMR120,000.…
A: Introduction: Income statement: All revenues and expenses are to be shown in income statement. It…
Q: Based on the following information, prepare a bank reconciliation to determine the adjusted…
A: The bank reconciliation statement is prepared to equate the balances of cash book and passbook with…
Q: Required information [The following information applies to the questions displayed below.] Kiyara…
A: Income tax liability is referred to as that taxable amount that is payable by the taxpayer in the…
Q: A chemical plant worth P 110M has an estimated life of 6 years and a projected scrap value of P 10M.…
A: Given: - Chemical plant worth=110 million Estimated life=6 years Scrap value=10 million New plant…
Q: 2 June 10 Land Common Stock Paid-in Capital in Excess of Par-Common Stock 268500 200000 68500
A: Lets understand the basics. When there is purchase of asset using issuing shares then entry need to…
Q: The company's free cash flow
A: Free cash flows represents the cash available with the company to distribute to their shareholders…
Q: How much did See receive in the liquidation?
A: The realization of the non-cash assets means that the assets which company have has been sold by the…
Q: Selected accounts with some amounts omitted are as follows Work in Process Oct. 1 Balance 24,100…
A: Let's understand some basics Factory overhead is the costs incurred during the manufacturing…
Q: D4) What is absorption? What is positive absorption? What is negative absorption? When evaluating…
A: Here discuss about the details of the absorption which are related with the real estate property…
Q: Anyone can help me with this?
A: Requirement: In the given question the adjusting entries are asked on 31-12-2018 and accrued…
Q: On December 31, 2021, Precious Company sold an equipment with carrying amount of P2,000,000 and…
A: Comment- Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the…
Q: Jennifer, the manager of Pharoah Company is given a bonus based on net income before taxes. The net…
A: The net income before tax is calculated as sum of net income and income tax.
Q: What is the amount of current assets, assuming the accounts Accounts Payable $12,000 Buildings…
A: Introduction: Current Assets: The Assets which can be easily converted in to cash with in a year…
Q: Required Information [The following information applies to the questions displayed below] Diego…
A: Lets understand the basics. Break even point is a point at which no profit/no loss condition arise.…
Q: 32.3A show the journal entries needed to correct the following errors: (a) Purchases £1,410 on…
A: The journal entries are prepared to record the day to day transactions on the regular basis.
Q: Calculate work in process and finished goods from job cost sheets. E3.26 (LO 3, 5) Laubitz Company…
A: The work in process includes the cost of job which is not completed yet. The finished goods…
Q: 17, 18, 19 solution and explanation please
A: As per guidelines, allowed to answer first question and post the remaining in the next submission.
Q: Problem 6-16 (AICPA Adapted) On December 31, 2021, Precious Company sold an equipment with carrying…
A: In the context of the given question, we are required to prepare the journal entries of all…
Q: One of the laboratories of the College of Engineering purchased a machine with a purchase value of…
A: The sum-of-the-year digit is an accelerated method for the calculation of depreciation on the asset…
Q: Evoc Company Statements of Financial Position December 31 Intangibles and other assets Property,…
A: Introduction: Current ratio : The ability of the company to pay its short term liabilities with in a…
Q: Tommy Cook is 19 years old and is interested in purchasing a whole life insurance policy with a face…
A: Since you have posted a question having multiple sub-parts. All sub-parts are solved for you below.
Q: 1) Prepare a report showing the overhead cost of the order for heavy-duty trailer axles according to…
A: Under activity-based costing the total cost of overhead is calculated by assigning activity drivers…
Q: Prepare the necessary requirements and use journal, ledger Owner's Equity (300-399) 311 5C's,…
A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is…
Q: Before the realization of assets and payment of liabilities, the capital balances of A, B, and C are…
A: The partnership comes into existence when two or more persons agree to do the business and further…
Q: elected accounts with some amounts omitted are as follows Work in Process Oct. 1 Balance 23,400…
A: The total amount of expenses added to a cost item is referred to as applicable overhead. Some…
Q: Selected accounts with a credit amount omitted are as follows Work in Process Apr. 1 Balance 6,600…
A: Goods finished = $307,900 WIP, April 30 = WIP, April 1 + DM + DL + Factory overhead - Goods finished
Q: Job Number Materials Requisition Slips Labour Time Tickets 429 $2,500 $1,900 430 3,500 3,000 431…
A: Job-order costing is a method of cost accounting, in which cost is allocated and accumulated for…
Q: 17. Explain how each of the following can lead to sub-optimal investment process: a) Relying on…
A: Investment decision in an organization is crucial. The process to decide that an investment decision…
Q: SKIP THIS IF YOU ALREADY ANSWERED THIS. I WILL ONLY UPVOTE IF IT IS TYPEWRITTEN. FOLLOW THE…
A: Dear student, Since you have asked multiple sub-parts, we will answer first three subparts as per…
Q: On January 1, 2021, CBA acquires 60% of outstanding ordinary shares of LPU at a gain on bargain…
A: Financial records are those documents which reflect or summarize business transactions. A proper…
Q: Question 15 (Information repeated for your convenience) Case One: 1.300 kg of toffee is usually made…
A:
Step by step
Solved in 2 steps with 2 images
- . A 90-day government bill was bought by an investor for a price of K95 per K100 nom- inal. After 30 days the investor sold the bill to a second investor for K97.50 per K100 nominal. The second investor held the bill to maturity when it was redeemed at par. Determine which investor obtained the higher annual effective rate of return.Suppose a comp sale occurred at a transaction price of $500,000, and was financed by the seller with a $400,000 note, for 15 years at 3%. The market rate of interest at the time of the sale was five percent, what is the value of the favorable finance?A company is planning to sell its 90-day commercial paper to investors by offering an 8.4 percentyield. If the face value of a three-month Treasury bill is GHS1000 which is also selling at GHS950,the credit risk premium is estimated to be 0.6 percent, and there is a 0.4 percent tax adjustment,then what is the liquidity premium on the commercial pape
- A. Nii Laryea purchased a T-bill with a GHC10,000 par value for GHC9,465. One hundred days later, Nii sells the t-bill for GHC9,650. Assuming 365 days in a year, what is Nii Laryea’s expected annualized yield from the transaction? B. Assume investors require a 5% annualized return on a six-month t-bill with a par value of GHC10,000. The price investors would be willing to pay in cedis will be?Suppose a firm makes purchases of $3.65 million per year under terms of 2/10, net 30, and takes discounts. What is the average amount of accounts payable net of discounts? (Assume the $3.65 million of purchases is net of discounts—that is, gross purchases are $3,724,489.80, discounts are $74,489.80, and net purchases are $3.65 million.) Is there a cost of the trade credit the firm uses? If the firm did not take discounts but did pay on the due date, what would be its average payables and the cost of this nonfree trade credit? What would be the firm’s cost of not taking discounts if it could stretch its payments to 40 days?Terrific Corporation, an equipment distributor, sells a piece of machinery with a list price of P800,000 to Archer Company. Per agreement, Archer will pay P850,000 in one year evidenced by a note. Terrific normally sells at cash price equivalent to 90% of list price. The note has a market rate of 12%. How much should be recorded as Sales? (The PV of 1 at 12% for 1 year is 0.89) P756,500 P850,000 P720,000 P800,000
- Fil Development buys on terms of 2/15, net 60 days. It does not take discounts, and it typically pays on time, 60 days after the invoice date. Net purchases amount to P550,000 per year. On average, what is the dollar amount of total trade credit (costly + free) the firm receives during the year, i.e., what are its average accounts payable? (Assume a 365-day year, and note that purchases are net of discounts.)P109,895P104,662P 94,932P 99,678P 90,411You have just invested USD 1M in the "carry trade". (you have borrowed USD 1M and you have invested in the NOK). What will be your profit/loss if the exchange rate is NOK 8.4/USD one year from now? enter profits as +, enter losses as -. Spot: NOK 8.0000/USD Forward: NOK 8.2000/USD 12-Month USD Libor: +2.00% 12-Month NOK Libor: +8.00% WACC: 10.00% Call Option: strike price USD 0.125/NOK, premium USD 0.0025/NOK Put Option: strike price USD 0.215/NOK, premium USD 0.0035/NOKSuppose that a party wanted to enter an FRA that expires in 121 days and is based on 55-day LIBOR. The dealer quotes a rate of 0.049 on the FRA. Assume that at expiration, the 55-day LIBOR is 0.029, and the notional amount is USD10,000,000. What is the payoff of the FRA short position?
- Oli Construction buys on terms of 2/15, net 60 days. It does not take discounts, and it typically pays on time, 60 days after the invoice date. Net purchases amount to P450,000 per year. On average, how much “free” trade credit does the firm receive during the year? (Assume a 365-day year, and note that purchases are net of discounts.)P20,389P22,479P21,408P19,418P18,493A dealer is quoting a bid discount of 0.75 and an ask discount of 0.73 on a T-Bill with a maturity of 125 days. If you want to sell such a T-Bill to the dealer with a face value of $1M, how much would you get for it? Group of answer choices $998,024 $992,700 $997,396 $997,465An investment bank sells securities under a repurchase agreement for $800.438 million and buys them back in 7 days for $800.568 million. What is the repo's single payment yield?Report your answer in % to the nearest 0.01%;
