Cash Loan Payable Office Equipment Unearmed Rentals Accrued Salaries Meg Drawing Repair Income Prepaid advertising Rent expense Meg Capital Accrued Interest income How much is the total of the e P 271,000 P 296,500 P300.000
Q: A company has annual fixed cost of Php 600,000 and a breakeven point at 42% of capacity. The ratio…
A: Contribution margin analysis is used to determine the various sales level. It mainly helps the firm…
Q: On January 2, 2019, U Co. purchased 75% of the outstanding shares of N Co. resulting to a goodwill…
A:
Q: what tax form are required to be filed annually for a limited partnership
A: LLPs must file an income tax return using Form ITR 5. Form ITR 5 can be filed online through the…
Q: Ms. Ligaya wants to buy her dream car. However, she does not have enough money to pay for ₱5,000,000…
A: The question is based on the concept of Financial Management.
Q: What is the Noncontrolling interest's share in the Net income of the subsidiary?
A: On January 2, 2019, U Co. purchased 75% of the outstanding shares of N Co. resulting to a goodwill…
Q: Oa. 4. 4. 6 4. O b. 10 232
A: Basic accounting Method used in excel Formula of Count if
Q: What is the difference between tax rates and tax rate structures? How does this notion of…
A: Income tax payable is an obligation for the tax payers to the government on the taxable income.…
Q: Quirk Corporation issued a 100% stock dividend of its common stock which had a par value of $10…
A: Since the shares have been issued a dividend which is::100% of par value.. The amount to be…
Q: Accounting 29-5. Which of the following is the most appropriate asset for Colleen to give to her…
A: An IRA is a saving for the purpose of retirement which ultimately gives tax benefits.
Q: On January 2, 2019, U Co. purchased 75% of the outstanding shares of N Co. resulting to a goodwill…
A: Net Income: Net income is the resultant amount determined from the statement of profit or loss…
Q: n July 1, 2020, Rudy Project (a calendar-year corporation) had capitalized cost of P1,200,000 for a…
A: Amortization of assets Accounting Basic Concept of Accounting
Q: Appropriation of retained earnings is necessary when the corporation reacquires its own share…
A: Acquisition of own share capital means purchase of corporate's own shares from the investors either…
Q: The following data were gathered to use in reconciling the bank account of Crystal Company: Balance…
A: Bank reconciliation consists of reconciling balance as per bank books to adjusted bank balance and…
Q: Problem 7-6. Rasheed Jones recently opened a specialty food store in Branford. As the bookkeeper of…
A: Purchase journals involve the transactions of purchases by the company. It involves the cash…
Q: The adjusted trial balance of ZZZ Corp. on December 31, 2021 includes the following account…
A: Total value of share capital held by a company includes both ordinary and preference share capital.
Q: Bashful Ltd. began business on January 1 and sells high performance motor scooters. The company…
A: The inventory can be valued using various methods as average method, LIFO and FIFO.
Q: Krueger Corporation manufactures a single product whose selling price is $134 per unit and whose…
A: Formula: Total contribution margin = Sales revenue - variable cost
Q: yer identificati
A: Other Current assets
Q: Using the information in AA8, how much is the total amount of Retained Earnings? P 150,000 P 100,000…
A: Retained earnings means the amount that is left after paying all the expenses and amount that…
Q: During its first year of operations, Snobegon, Inc. (located in Lake Snobegon, Minnesota), produced…
A: Ending inventory refers to the value of inventory lying with the firm at the end of a particular…
Q: partners who share profits and losses in the respectively. On January 1, 2021, their respective…
A: When a new Partner is added to a Partnership firm for an agreed percent of share in the total…
Q: Calculate the missing values and express the answers rounded to two decimal places. Rate of Amount…
A: Profit is a difference between the revenue and the cost. Markup on Cost = Profit/ Cost x 100…
Q: Rocky Mountain Bus Tours needs an additional bus for three years. It can lease a bus for $2100…
A: Present value of annuity due (payment due at the beginning of each month) = Payment x [1 - (1 +…
Q: during 2020. For consolidation purposes, what is the non- controlling interest in net income of S fo
A: Introduction Minority interest means ownership or interest of less then 50% of an enterprise. The…
Q: Paxton Company can produce a component of its product that incurs the following costs per unit:…
A: Net Incremental cost or (savings) = Offer price - Direct material cost - Direct labor cost -…
Q: Determine the consolidated net income for 2020.
A: Consolidated net income is the net income which has been actually earned by the company when the…
Q: Lia ITZY has determined that the annual demand for number 6 screws is 100,000 screws. Lia, who works…
A: Solution:- i)Calculation of average inventory as follows under:- Average inventory = EOQ / 2
Q: Sand and Sea Resorts owns and operates two resorts in a coastal town. Both resorts are located on a…
A: Lets understand the basics. Cost driver is a driver which is used to allocate the cost to product or…
Q: Salinger Software was founded in 2012. The company lost money each of its first three years, but was…
A: Tax is a liability calculated on the income earned by an individual or company and paid to the…
Q: Box Company (the transferor company) and Cox Company (the transferee company) amalgamate in an…
A: An amalgamation occurs when two or more corporations merge to form a new company. Because neither of…
Q: Prepare journal entries for the first year to record each 4. An entity received a grant of…
A: Accounting for Grant Grant is the amount received for the different activities which are involved…
Q: nount Sell of Pri arkup
A: Markup on Cost = Profit/Cost x 100 Markup on Sales = Profit/Sales x 100 Profit = Sales - Cost
Q: What is the average inventory at retail? [round off numbers] вом EOM January $50,500 $53,400…
A: The average retail inventory is calculated by taking the sum of all the inventory at the beginning…
Q: Statement I: Partners with the greatest ability to absorb losses and expenses are the first to…
A: A partnership is a kind of business structure in which two or more people agree to carry out…
Q: Question 3 Phi Phi Furniture produced 1,500 television stands in March. These stands are sold for…
A: Total Conversion Cost=Direct Labor+Total Manufacturing Overhead
Q: 9 Maxwell Furniture Centre had accounts receivable of $20000 at the beginning of the year and $54000…
A: Collections from customers is the result of beginning account receivable plus credit sales during…
Q: Current assets $22400 Net income $4450 Stockholders' Current liabilities 13400 6640 equity Average…
A: The ratio analysis helps to analyse the financial statements of the business.
Q: P 26,000 30,000 67,000 154,000
A: Given The percent of non-controlling interest ownership in S Company as of December 31, 2019.
Q: Which of the ratios listed helps to indicate whether current liabilities could be paid without…
A: The liquidity ratio indicates the ability of the business entity to payout the current liabilities…
Q: Financial statement analysis is a part of business analysis. please explain about that statement!…
A: Financial Statements Financial Statements refer to those statements that provide a snapshot of the…
Q: Y Inc. is a wholly owned subsidiary of P Corporation. The following are excerpts from the 2019…
A: Net income attributable to parent company is the consolidated net income after taxes and after…
Q: Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance The…
A: Overhead refers to the expenses that are not directly associated with the production process.
Q: Closing Entries (Net Income) Use the following partial listing of T accounts to complete this…
A: The closing entries are prepared at year end to close the temporary accounts of the business at year…
Q: Explain the Ordinary Assets
A: Ordinary Assets are normally recognised as those assets held for sale in the ordinary course of…
Q: luded merchandise purchased from N Company amounting to P39,000 which was sold to them by
A: Equity shareholder's net income is the net income of the parent adjusted for the intercompany…
Q: Calculate the missing values and express the answers rounded to two decimal places. Rate of Amount…
A: Markup is an amount of profit added to the cost price to arrive at selling price of the product.
Q: Apples Ban
A: Incremental IRR is the one of the method of finding best project among all and used for comparison…
Q: ou noted the following items relative to the company's intangibles assets of Pete Corporation at…
A: Carrying amount of Franchisee:
Q: Question 3: In 2022, Johnson Company's first year of operations, the following transactions…
A: Journal entries are the transaction we posted in our books, to keep records of our receivables and…
Q: Darby Company, operating at full capacity, sold 154,100 units at a price of $51 per unit during the…
A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…
Step by step
Solved in 2 steps
- Use the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Income Statements for 2020 and 2021 (including dividends paid and retained earnings).Net Sales 36000 Commission received 6430 Interest received 3570 Cost of goods sold 7400 Dividends received 2220 From the above information the total income will be: a.OMR 41280 b.OMR 42820 c.OMR 48220 d.OMR 40820 Fast plz***********tion 8Income statement for the year ended 31 December, 2019 of KKMTN Ghana Ltd2018 2019ȼ ‘000 ȼ ‘000Turnover 420,000 523,600Cost of sales (330,000) (417,200)Gross profit 89,000 106,400Expenses:Administration 44,600 50,200Selling and distribution 15,400 (60,000) 19,600 (69,800)Profit before interest 29,000 36,600Debenture interest - (2,800)Net profit before tax 29,000 33,800Taxation (8,000) (10,000)Net Profit after tax 21,000 23,800Ordinary dividend paid 8,400 9,250Ordinary shares issued 12 million and trading at ȼ3 each as at yesterday onGSE.You are required to compute the following investment ratios:a). Earnings per shareb). Dividend per sharec). Payout ratiod). Price earnings ratioe). Earnings yield
- Description FY10 FY11 FY12 FY13 FY14 Financial Statements GBP m GBP m GBP m GBP m GBP m Income Statements Revenue 4,390 3,624 3,717 8,167 11,366 Profit before interest & taxes (EBIT) 844 700 704 933 1,579 Net Interest Payable (80) (54) (98) (163) (188) Taxation (186) (195) (208) (349) (579) Miniorities (94) (99) (105) (125) (167) Profit for the year 484 352 293 296 645 Balance Sheet Fixed Assets 3,510 3,667 4,758 10,431 11,483…INCOME STATEMENT Year ended June 30 2022 2021 $'000 $'000Revenue 22450 18675Cost of sales 8475 8055Gross Profit 13975 10620Distribution costs 4245 3120Administrative expenses 1276 2134Selling expenses…E23.10B (L0 1,4) (Classification of Transactions) Following are selected balance sheet accounts of BioLazer Corp. at December 31, 2020 and 2019, and the increases or decreases in each account from 2019 to 2020. Also presented is selected income statement information for the year ended December 31, 2020, and additional information. Increase Selected balance sheet accounts 2020 2019 (Decrease)AssetsAccounts receivable $154,000 $120,000 $34,000Property, plant, and equipment 631,000 581,000 50,000Accumulated…
- 34 The following applies to this question: DEBTORS CONTROL Mar 1 Balance b/f 90 000 Mar 31 Bank A Mar 31 Sales B Sales returns 5 000 Balance c/f 40 000 140 000 140 000 Apr 1 Balance b/f 40 000 Which one of the following amounts represents B? A. R180 000 B. R100 000 C. R230 000 D. R50 000A2 aii Use the following information for Delta Corporation: Year 20X1 20X2 Net sales $1,500,000 $1,656,598 Cost of goods sold 675,000 745,469 Depreciation 270,000 298,188 Interest paid 43,600 44,000 Cash 127,500 140,811 Account’s receivable 450,000 496,980 Inventory 525,000 579,809 Net fixed assets 1,800,000 1,987,918 Accounts payable 375,000 414,150 Notes payable 45,000 50,000 Long-term debt 500,000 500,000 Common stock 1,000,000 1,000,000 Retained earnings 982,500 1,241,368 Tax rate 35% 35% Dividend payout 30% 30% Delta has 600,000 common shares outstanding. The firm is projecting a 20% increase in net sales for the coming year (20X3). Delta uses the percentage of sales approach to plan for its financing needs. In using this approach, the firm assumes that cost of goods sold, all assets (current and fixed), and accounts payable will all remain a constant…QWC 2016 $000 2017 $000 2018 $000 2019 $000 2020 $000 2021 $000 Current ratio 0.66 0.58 0.96 0.92 1.06 0.83 Quick ratio 0.43 0.37 0.58 0.53 0.49 0.57 Operating cash flow ratio 0.10 0.01 0.01 0.00 0.02 0.07 MMC Current ratio 2.37 2.23 2.07 1.89 2.74 2.16 Quick ratio 0.93 0.95 0.81 0.80 1.36 1.01 Operating cash flow ratio 1.02 0.72 0.96 0.47 0.32 0.52 Please interpret the ratio for both the companies. Not required to explain the theory just interpret the values for the following: 1) Current Ratio 2) Quick Ratio 3) Operating cash flow ratio
- Question: Sales: $100 000 Purchase: $45 000 Sales returns: $20 000 Purchase returns: $5 000 Current Assets: $55 000 Current Liabilities:$5000 required: a) Calculate net sales. b) Calculate net purchases. c) Calculate working capital.Home office BranchSales P 365,000 P174,000Shipment to branch 90,000Purchases from outsiders 220,000 35,000Advertising expense 13,700 2,500Salaries and Commission 35,000 9,500Rent Expense 10,000 2,000Miscellaneous expense 3,300 500Shipment from home Office 112,500Inventories, January 1:Home Office 85,000Branch:From outsiders 9,500From home office at 2018 billed price30,000Inventories, December 31:Home Office 65,000BranchFrom outsider 6,500From Home office at 2018 billed price30,0001. The branch inventory at cost on December 31, 2021 is:a. P30,500 c. P70,000b. 31,500 d. 36,5002. The combined net income of the Home Office and the Branch on December 31, 2021 is:a. P111,000 c. P250,500b. 63,000 d. 174,000E10.18 (LO 5), AN Suppose the following financial data were reported by 3M Company for 2021 and 2022 (dollars in millions). 3M CompanyBalance Sheets (partial) 2022 2021 Current assets Cash and cash equivalents $ 3,040 $1,849 Accounts receivable, net 3,250 3,195 Inventories 2,639 3,013 Other current assets 1,866 1,541 Total current assets $10,795 $9,598 Current liabilities $ 4,897 $5,839 Instructions Calculate the current ratio and working capital for 3M for 2021 and 2022. Suppose that at the end of 2022, 3M management used $300 million cash to pay off $300 million of accounts payable. How would its current ratio and working capital have changed?
