Compute Proprietary Ratio From the following Particulars $ Equity Share Capital 5,00,000 Preference Share Capital 2,70,000 Reserves and Surplus 65,000 Trade Payables 1,10,000 Fixed Assets 7,00,000 Non-Current Investments 2,45,000 Current Assets 3,00,000 Debentures 3,00,000
Q: A company had net sales of $570,000, total sales of $720,000, and average accounts receivable, net…
A: Accounts receivable ratio is calculated to know how efficiently the company collects its debts…
Q: The ledger of Mai Company includes the following accounts with normal balances as of December 31:…
A: A journal entry which is made to transfer the balances of the temporary accounts prepared during the…
Q: Sunshine Industrial Ltd, a massive retailer of electronic products, is organised in four separate…
A: Return on investment (ROI) is a financial ratio used to calculate the benefit an investor will…
Q: Exercise 1. Ping Co. bought merchandise from Pong Co. Given the following information, determine the…
A: The trade discount is not recorded in the books, it is just deducted from the list price to get the…
Q: explain the impact on the balance sheet and income statement, specifying which accounts are affected…
A: The income statement is part of the financial statement that indicates the profitability of the…
Q: Activity 1: In the table below, indicate in column 1 - the classification of each account (Assets,…
A: >Ledger accounts titles are the accounts of various accounting elements. >These accounts…
Q: A sports equipment company issued a $6 cumulative preferred stock issue. In 2010 the firm's board of…
A: Cumulative preference stock holders has the right to get the dividend in arrears and the current…
Q: Comment on the performance of Threads Limited from the viewpoint of a business considering supplying…
A: Comments on the performance of Threads Limited from the viewpoint of a business considering…
Q: The comparative accounts payable and long-term debt balances for a company follow. Current Year…
A: Amount Of Change Increase / Decrease Percentage Account Payable 16,848 Decrease 27 Long Term…
Q: (a) On September 30, the firm received its utilities bill for the month of September amounting to…
A: Trial balance is the step after posting the entries to their respective ledger accounts. A trial…
Q: Maricel Santos sells products from a direct selling company. She receives 10% commission for her…
A: Sales commission are paid to sales persons. This is paid as per the agreed upon commission rates.
Q: 1. Jean and Dan both work. Each earns a salary of $48,500, but only Jean is a member of a registered…
A: Calculation of Maximum RRSP contribution: Maximum RRSP contribution of Jean = 18% of Gross Salary -…
Q: 4/2 Purchased a company automobile for $32,000, with a cash down payment of $1,000 and the remaining…
A: The journal entry for the given transaction is shown hereunder : Purchased a company automobile for…
Q: 4/2 Purchased a company automobile for $32,000, with a cash down payment of $1,000 and the remaining…
A: Introduction: Journals: All the business transactions are to be recorded in Journals. Journals are…
Q: 21- Sent a bill to R. Hernandez, P2, 500 for car service rendered at his wedding. 23- Gas and oil…
A: Introduction: Journals: All the business transactions are to be recorded in Journals. Journals are…
Q: Garza Company had sales of $153,000, sales discounts of $2,300, and sales returns of $3,670. Garza…
A: Net sales = Total sales - Sales return - Sales discount
Q: Lavada Kedavra's Mattress Cleaning Service can clean a total of 65 mattresses per month while…
A: Formula: Estimated cost incurred per mattress cleaned in a month = Total cost / No. of mattresses…
Q: 11. Jean and Dan both work. Each earns a salary of $48,500, but only Jean is a member of a…
A: Introduction: A Registered Retirement Savings Plan (RRSP) is a Canadian federal…
Q: spouse prior to marriage at during marriage during marriage ty inherited by the surviving s x of…
A: Property acquired by the decedent prior to marriage is considered as the exclusive property of a…
Q: Mr. Al Khasim deposited OMR 20,000 in a bank which offers a compound annual interest of 6%. How long…
A: Compound interest is one of the form of interest under which interest is charged on both principal…
Q: M&C Corp. consumes 300,000 units of spare part V per year. The average purchase lead time is 20…
A: Safety stock refers to the extra quantity of the product which is stored in warehouse in order to…
Q: Kelani Brookstone, an accountant, owns her own business named KB Accounting Services. The following…
A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: On April 2, 2015, Montana Mining Co. pays $4,170,260 for an ore deposit containing 1,438,000 tons.…
A: Depreciation used to record assets value which was over the period of time gone through wear and…
Q: Beverly and Kyle Nelson currently insure their cars with separate companies paying $450 and $375 a…
A: Annual saving is calculated by taking the total premium and multiplying it by the percentage of…
Q: ASSETS FOREIGN CURRENCY FINANCIAL ASSETS ternational reserves Deposits with foreign banks Other cash…
A: Accounts receivable refers to the payments that the business would get from the customers who have…
Q: Given the following information: Total assets Total liabilities $ $360,000,000 18,000,000 28,000,000…
A: Net Asset value per share = (Total Assets – Total Liabilities)/ Total number of shares
Q: ABC Corp. acquired the following assets on June 30, 20X1: Cost…
A: The depreciation expense is the reduction in the value of asset due to its use or wear and tear. The…
Q: Solve the question by showing work. Question 1 The manager is considering the purchase of…
A: Answer 1:- Country A government bond will be better option to purchase. Explanation:- Country A has…
Q: 9. Given the following information: Total assets Total liabilities 360,000,000 18,000,000 Total…
A: Net assets = Total Assets - Total Liabilities = 360000000 - 18000000 = 342000000 Total Number of…
Q: Calculate the Gross Debt Service (GDS) and the Total Debt Service (TDS) ratios for the following…
A: The highest amount of money you can afford to pay for housing each month is known as the gross debt…
Q: Customer deposits (prepayments) are recorded - Select one: a. as debits to accounts receivable for…
A: Customer deposits decreases the accounts receivable.
Q: a. Using the "2020 Quarterly Revenue" worksheet provide the relevant formulas to complete the…
A: The quarterly income means the income that is earned in a quarter. The sales revenue is the revenue…
Q: Q- Abbys bi- weekly gross income is 1450 but only 1,200 is deductions add up to? Q- Steve's bi-week…
A: Net Income: In order to determine one's "net income," one must first determine one's "gross income,"…
Q: ) Day 7 The following is a December 31, 2021, post-closing trial balance for Almway Corporation.…
A: Balance sheet (BS) is the one of vital financial statements (FS) of the company which is prepared at…
Q: discuss the type of opinion is issued by the auditorr if he or she is unable to determine the…
A: Introduction: Auditing is the process of verifying, validating, and continuously investigating all…
Q: D Question 39 If the selling price per unit is $10, the unit contribution margin is $5, and total…
A: Break-even point (BEP): Breakeven is the point where total expenses are equal to total revenue. at…
Q: A few years ago, Sam Gig founded Gig n Spin Consultancy Services. Sam is aware that you and your…
A: Adjusted Trial Balance - Adjusted Trial Balance includes ledgers after providing adjusting entries…
Q: Magnolia, Inc. manufactures bedding sets. The budgeted production is for 24,200 comforters this…
A: Formula: Total required materials = Budgeted production units x Yards required for materials
Q: Accounts Payable $ 35,000 Ending Retained Earnings $ 55,500 Accounts Receivable 47,400 O…
A: Accounts receivable, prepaid rent, cash, supplies are current assets. Accounts payable and differed…
Q: Required information [The following information applies to the questions displayed below.] Carmen…
A: Note: Dividend of $5850 will not included in the income statement. Because it will be shown in the…
Q: Question 2 + The Management of "Tanjung Uda Berhad" is planning a RM4,000,000 expansion this year.…
A: Indifference level of EBIT is the level where EPS will be same in both plan irrespective of debt…
Q: Gross sales $150,000 Accounts receivable, beginning of year $18,000 Sales…
A: Accounts receivable is the amount owed to a corporation for goods or services delivered or used but…
Q: (a) On September 30, the firm received its utilities bill for the month of September amounting to…
A: 1. Income Statement 2. Balance Sheet The first statement shows the income earned and loss incurred…
Q: Question 3: What is the current multifactor productivity?
A: Companies check the productivity level so that to determine what is the productivity of the company…
Q: aman Zoom Ltd have 500 employees with an average salary of $3,000 per month. Their average age are…
A: Endowment Fund: It is an scheme of investment for a long period to earn the revenue on that…
Q: In 20X1, ABC Co. paid P1M to purchase a land containing a total estimated 160,000 tons of…
A: Depletion rate per ton: = [Purchase cost - salvage value] / capacity of extraction Purchase…
Q: Q1. (Warren) Silver River Company sells Products S and T and has made the following estimates for…
A: Solution Introduction Breakeven point is that point at which the contribution generated is equal to…
Q: 4. You and your spouse are in good health and have reasonably secure careers. You make about $75,000…
A: As per the family need method, the life insurance needed is the sum of immediate needs and present…
Q: 20,000 when it sells 40,000 units. If total fixed costs are $40,000,
A: A variable cost is an expense that changes depending on how much product is produced or sold.…
Q: Stockton Company Adjusted Trial Balance December 31 Account No. 11 12 13 18 19 21 22 31 32 41 51 52…
A: Current assets are assets owned by company which can be realised or sold or consumed or converted…
Step by step
Solved in 2 steps
- The Statement of Financial Position (SFP) of Arthur Corporation on June 30, 202X is presented below:Current Assets P195,000Land 1,320,000Building 660,000Equipment 525,000Total Assets P2,700,000Liabilities P525,000Ordinary Shares, P5 par 900,00Share Premium 825,000Retained Earnings 450,000Total Equities P2,700,000All the assets and liabilities of Arthur were assumed to approximate their fair values except for land and building. It is estimated that the land has a fair value of P2,100,000, and the fair value of the building increased by P480,000. Ezekeil Corporation acquired 80% of Arthur’s outstanding shares for P3,000,000. The non-controlling interest is measured at fair value.Required:a. Determine the goodwill or gain on bargain purchase assuming the consideration paid includes control premium of P852,000. Determine the goodwill or gain on bargain purchase assuming the consideration paid excludes control premium of P138,000 and the fair value of the non-controlling interest is…ABC Company provided the following information on December 31, 2020Share capital 5,000,000Subscribed share capital 3,000,000Subscription receivable 2,000,000Share premium 1,500,000Treasury Shares, at cost 700,000Retained Earnings 1,000,000Cumulative unrealized gain on Financial Asset at FVOCI 600,000What is the contributed capital on December 31, 2020?Mara Company provided the following data at year-end:Authorized share capital 5,000,000Unissued share capital 2,000,000Subscribed share capital 1,000,000Subscription receivable 400,000Share premium 600,000Retained earnings unappropriated 600,000Retained earnings appropriated 300,000Revaluation surplus 200,000Treasury shares, at cost 150,000What total amount should be reported as shareholders’ equity?
- An entity provided the following information at year-end: Preference share capital, at par 2,000,000 Ordinary share capital, at par 3,000,000 Share premium 1,000,000 Sales 10,000,000 Total expenses 7,800,000 Treasury shares at cost – ordinary 500,000 Dividends 700,000 Retained earnings – beginning 1,000,000 What ending balance of Retained Earnings should be reported at year-end?Charice Company revealed the following shareholder’s equity at year end:Preference share capital, P100 par 2,300,000Share premium – PS 805,000Ordinary share capital, P15 par 5,250,000Share premium 2,750,000Subscribed ordinary share capital 500,000Retained earnings 1,900,000Note payable 4,000,000Subscription receivable - ordinary 400,000How much is the legal capital?a company has the following items: share capital-ordinaty: $920,000 treasury shares : $85,000 deferred taxes $100,000 retained earning : $ 363,000 which ammount should be report as total equity ? A- 1098000 B- 1198000 C- 1298000 D- 1398000
- Husain Corporation has the following account it trial balance at the end of year: Retainedearnings $240,000, Share Capital- Ordinary $950,000, Bonds Payable $200,000, SharePremium- Ordinary $275,000, Investment $180,000, Accumulated other comprehensiveincome $190,000, Minority Interest $92,000Prepare current Equity section of the balance sheet.4. An entity showed the following data:Share capital, par value P50 5,000,000Share premium 200,000Retained Earnings 2,000,000Market value of share on declaration date 75Market value of share on distribution date 85Treat each item independently: a. If the entity would declare a 1 for 5 share dividend, what amount would be charged to retained earnings? b. What amount will be credited to share premium if the entity would declare 15% share dividend?The following is an extract from the trial balance of Tempo Ltd on 30 June 2022: Land and buildings 114000Equipment 210000Investment (80 000 shares of £1 each in Rhythm Ltd at cost price) 650000 Inventory (30/6/2008 - £382 000) 418000Trade receivables (30/6/2021 – £180 000) 206000Cash and cash equivalents 92000 Share capital: Ordinary share capital including premium 450000Preference share capital 200000 Retained earnings: Balance – beginning of year…
- The company capital structure consists of debt 250000 at 0.071, preferred stock 230000 at 11% and common stock 120000 at 14%, calculate company’s weighted average cost of capitalPresented below is information related to Hale Corporation: Share Capital- -Ordinary, $1 par Share premium- -Ordinary $4 300.000 550.000 Share Capital Preference 8 1/2%, $50 par 2,000,000 Share premium -Preference 400,000 Retained Earnings Treasury Shares Ordinary (at cost) 1,500,000 150,000 The total equity of Hale Corporation is Select one: a.$7,100,000. b.$7,250,000. C.$8,600,000. d. 8,750,000. .he following is an extract from the trial balance of Tempo Ltd on 30 June 2022:£Land and buildings 114 000Equipment 210 000Investment (80 000 shares of £1 each in Rhythm Ltd at cost price) 650 000Inventory (30/6/2008 - £382 000) 418 000Trade receivables (30/6/2021 – £180 000) 206 000Cash and cash equivalents 92 000Share capital:Ordinary share capital including premium 450 000Preference share capital 200 000Retained earnings:Balance – beginning of year 160 000Retained profit for the year 40 00012% Long term loan 420 000Trade payables (30/6/2021 – £190 000) 210 000Tax payable 110 000Dividends payable 100 000Additional information:1. Issued share capital:- 400 000 ordinary shares of £1 each- 40 000 10% preference shares of £5 each.2. Gross profit for the year amounted to £1 344 000 and represents 40% of turnover for the year.3. All sales and all purchases are on credit.4. Income from investment for the year amounted to £24 000.5. The dividends payable represents the total amount of…