Yani Inc. is a wholly owned subsidiary of Pakito Corporation. The following are excerpts from the 2008 condensed statements of financial position of the two companies: (see image below) The sales of Pakito to Yani are made on the same terms as those made to others. Determine the net income attributable to Pakito Corporation
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Yani Inc. is a wholly owned subsidiary of Pakito Corporation. The following are excerpts from the 2008 condensed
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- From these results of operations, determine the cost of goods manufactured of XY Co.Finished goods -beg P72,000 Sales P465,000Finished goods - end P66,000 Gross margin P88,000 a. P371,000b. P377,000c. P383,000d. P459,000Determine the missing elements of the Income Statement. Replace the letters with your answers.The partial income statements of five different companies are as follows: 12345 Net SalesAD250,000290,000400,000 Merchandise Inventory, 1/1/2020B50,00070,000J120,000 Net Cost of Purchases80,000EG160,000390,000 Goods Available for Sale110,000160,000HKM Merchandise Inventory, 1/1/202040,000F30,00070,000N Cost of Goods SoldC140,000230,000L380,000 Gross Profit50,00040,000I160,000Ocompute net sales, gross profit, and the gross profit ratio for each of the four seperate companies. Round gross margin ratio to one decimal place. carrier lennox trane york sales 150000 550000 38700 255700 sales discounts 5000 17500 600 4800 sales returns and allowances 20000 6000 5100 900 cost of goods sold 79750 329589 24453 126500
- Calculate gross profit from the following? Sales OMR 10000, Cost of goods sold OMR 4000 and Return inwards OMR 2000 a.OMR 4000 b.OMR 10000 c.OMR 12000 d.OMR 6000Calculate the gross profit from the following? Sales of OMR 20000, Cost of goods sold OMR 8000 and Return inwards OMR 6000, Return outwards 4000, Purchases 15000. a. OMR 5000 b. OMR 8000 c. OMR 6000 d. OMR 12000Cost of goods sold :- Sales - gross profit = 1000000 - 400000 = 600000 Calculation of total expenses:- (Depreciation + advertisement exp. + Rent + salaries + commission + other exp. ) = (80000 + 60000 + 15000 + 56000 + 5000 + 7000) = 223000 Calculation of Gross profit margin:- Formula = sales - cost of goods sold = 1000000 - 600000 = 400000 Calculation of gross profit percentage margin:-Formula = (Gross profit margin / sales)*100 = (400000 / 1000000)*100 = 40% Calculation of net profit margin:- Formula = Gross profit - total expenses = 400000 - 223000 = 177000 Calculation of net profit percentage margin: - Formula = (Net profit / Net Sales)*100% = (117 000/ 1 000 000) *100 = %17.7 Calculation of Current Ratio: - Formula = Current Assets / Current Liabilities = 135 000/ 47 000 = 2.87 : 1 Calculation of Acid Test Ratio: - Formula = Liquid Assets / Current Liabilities Liquid Assets = Cash + Accounts Receivables = 100 000 + 20 000 = 120 000 Acid Test ratio = 120 000/ 47 000 = 2.55 : 1…
- Sales $ 150,000 $ 550,000 $ 38,700 $ 255,700 Sales discounts 5,000 17,500 600 4,800 Sales returns and allowances 20,000 6,000 5,100 900 Cost of goods sold 79,750 329,589 24,453 126,500 Compute net sales, gross profit, and the gross margin ratio for each of the four separate companies. (Round your gross margin ratio to 1 decimal place; i.e.; 0.2367 should be entered as 23.7%.) Company columns from above. A. Carrier B. Lennox C. Trane D. York Net sales Gross profits Gross margin ratioPROBLEM 2Determine the missing elements of the Income Statement. Replace the letters with your answers.The partial income statements of five different companies are as follows: 12345 Net SalesAD250,000290,000400,000 Merchandise Inventory, 1/1/2020B50,00070,000J120,000 Net Cost of Purchases80,000EG160,000390,000 Goods Available for Sale110,000160,000HKM Merchandise Inventory, 1/1/202040,000F30,00070,000N Cost of Goods SoldC140,000230,000L380,000 Gross Profit50,00040,000I160,000OAssume the following information for Fruitful Proprietary Limited. for the year ended December 31, 2011: Sales R5,160 Cost of goods manufactured for the year R1,800 Beginning finished goods inventory R834 Ending finished goods inventory R593 Selling and administrative expenses R424 What is the cost of goods sold for the year ended 31 December 2011?
- Calculate Cost of Goods sold from the following? Opening stock OMR 20000, Carriage outwards OMR 2000, Purchases OMR 40000, Sales OMR 80000, Closing Stock OMR 20000, Salaries and wages OMR 10000 and Sales return OMR 6000 a. OMR 40000 b. OMR 52000 c. OMR 38000 d. OMR 28000.Calculate the gross profit from the following? Sales OMR 25000, Cost of goods sold OMR 15000 and Return inwards OMR 2000.,Return outwards 5000, Purchases 5000 a. OMR 8000 b. OMR 5000 c. OMR 10000 d. OMR 15000How to compute this problem? Problem:The data shown below were obtained from the financial records of the BST Corporation for the year ended December 31, 2020. Sound Break CorporationIncome and Retained Earnings StatementFor the year Ended December 31, 2020Net Sales P1,000,000Cost of Goods Sold:Inventory, Dec. 31, 2019 P250,000Purchases 720,000Total Goods Available P970,000Inventory 220,000 750,000Gross Margin on Sales P 250,000Selling and Administrative (including Depreciation of P20,000) 125,000Net Income before Tax P 125,000Provision for Income Tax 35,000Net Income for the Year P 90,000Retained Earnings, beginning 130,000Total P 220,000Dividends Paid 30,000Retained Earnings, December 31, 2020 P 190,000 Sound Break CorporationBALANCE SHEETDecember 31, 2019 and 2020 ASSETS 2019 2020Current Assets:Cash P 75,000 P 85,000Marketable Securities 25,000 25,000Trade Receivables, net 185,000 245,000Inventory, at cost 250,000 220,000Prepaid Expenses 15,000 10,000Total Current Assets…