Ending retained Earnings balance to be? Account DR CR Cash $40,000 A/R 20,000 Rent Exp 12,000 Dividends 5,000 Sales Return 8,000 Wage Exp 15,000 Capital A/P $20,000 10,000
Q: Pl. Modern Décor Furniture began June with merchandise inventory of 45 sofas that cost a total of…
A: Perpetual inventory system is used to provide cost of goods sold and closing inventory balance.We…
Q: Concerning the actual dividend paid that can be used as an input to the dividend discount model…
A: Financing section of the cash flow statement includes the outflow and inflow of cash in relation to…
Q: Illustration. The balance sheet of Mateo Roa on Oct. 1, 2021, before accepting Martin Penaco as his…
A: The books of accounts are closed by any entity by debiting the capital and liabilities account and…
Q: Income statement? Accounts Debit Credit (OMR) (OMR) Cash 120,000 Capital 100,000 Prepaid insurance…
A: An income statement is one of the financial statements prepared at the end of the reporting period…
Q: Estimate working interest value in $ per bbl of oil produce if oil price is 28 $/bbl, Local tax 10%,…
A: Working Interest is the investment in oil operations or drilling operations in which the person who…
Q: Calculate the lowest acceptable transfer price for the seller (Division A) ?
A: Calculation of contribution per unit of Division A Particulars Amount Selling price per unit 76…
Q: The Home Depot is clearing out lawn mowers for $399.75 in an end-of-season sale that ends on…
A: In the context of the given questions, we are required to provide the solution, the best option to…
Q: From the following particulars calculate the value of an equity share under yield method. 1. 5,000…
A: Calculation of value per equity share :- Particulars Amount ($) Expected profit before tax…
Q: Friends Partnership has three partners. The balance of each partner' capital is: Alla $48,000,…
A: Partnership refers to the relationship among the partners which is contractual in nature. In short,…
Q: Assets are increased with debits and decreased with credits. True False
A: The rules of accounting indicate that all assets, expenses, and losses have a nominal debit balance.…
Q: Summit Company has provided the following inventory balances and manufacturing cost data for the…
A: The question is related to Cost Sheet. The Purchase will be calculated with the help of following…
Q: ABC Tours is organizing a 5 day trip to Toronto. For this particular five-day trip, it will cost the…
A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve the first three…
Q: Mirza Corp. issued 10,000 ordinary shares with a par value of P1 for a building. The building is…
A: Common stockholders choose the board of administrators and vote on enterprise decisions. Long term,…
Q: Which of the following types of transactions would be reported as a cash flow from investing…
A: issuance of bonds payable: financing activity issuance of capital stock: financing activity purchase…
Q: Putnam Company owns 80 percent of Swaraj Company. The excess of acquisition cost over book value was…
A: Inter-company transactions are the one which take place between two companies which are…
Q: Foreign currency transactions Melbourne Ltd purchased goods from France on 3 April 2022 on credit…
A: Introduction: If goods are purchased from other countries and payment is deferred to a later date,…
Q: ABCCompanymanufactureschairsfortheretailmarket. TheDecemberbudgetedamountsweretomanufacture28,000…
A: A flexible budget is prepared by considering budgeted costs and changes in the consumption of units…
Q: J. Oros showed a net income of $6,500. The entry to close the Income Summary account.
A: Introduction: Journals: All the business transactions are to be recorded in Journals. Journals are…
Q: Number Cost of Units per Unit Beginning inventory 130 $71 Purchased goods during the period 240 80…
A: Goods available for sale means the goods that are produced or available with the entity for the…
Q: Date 6. The percent of gross income that is deducted for income tax usually depends on the amount…
A:
Q: partnership assets itors, the ledger of the Daniela, Erika and Eredline partnership showed the…
A: Insolvency of partner's in partnership firm: When any individual or firm or company is not able to…
Q: From the following particulars relating to the business of Georg. Compute the value of goodwill on…
A: Goodwill is defined as an asset recorded in the books when a business successfully acquires the…
Q: 46.The following data were available for Product Z at Mar 31, 20X1: Beg inventory 50 units @ 12…
A: Inventory is valued on the basis of different inventory valuation methods such as LIFO, FIFO, or…
Q: 2) The capital investment required in a certain project is $ 5000. The project production profile is…
A: Dear student as u have asked 4 multiple subparts and as per guideline we will solve first three…
Q: Chloe's Cafe bakes croissants that it sells to local restaurants and grocery stores. The average…
A: Average Cost at 4,200=Total Cost at 4,2004,200
Q: Profitability Analysis Alex Enterprises reports the following information on its year-end income…
A: The gross profit is calculated as difference between sales and cost of goods sold. The operating…
Q: 82. Cobble Corporation produces and sells a single product. Data concerning that product appear…
A: Overall net operating income decreased by $ 8,900 and variable expenses also change i.e increased by…
Q: Even though abel donated P100,000 and Carr supplied P84,000 in recognised assets, Johney and Carr…
A: Attributes are goods that may be separated from the company and disposed of, such as machinery,…
Q: what you consider as effective board pract
A: We consider Effective Board practices as; A diverse board of directors with diverse members…
Q: March 2021 1 The owner, Gina, invested the following: filing cabinets and fixtures- 15,000; cash,…
A: Journal entries are the basic method for recording financial transactions in the books of accounts.…
Q: ABC Corporation’s CEO owns a condominium in Bahamas where top executives and their spouses stay,…
A: Here discuss about the details of taxation issues which are incurred for the benefits provided to…
Q: Proposal A: Jessica will contribute to the partnership $45,000 of cash, as well as equipment that…
A: Proposal A : Contribution by Jessica = $45,000 (cash) + $15,000 (equipment) = $60,000 Capital…
Q: ccount Titles Debit Credit
A: Adjusting entries are non cash journal entries that are recorded at the end of the year so that the…
Q: Question 12 of 40 In June, Widgets, Inc. makes on account sales to Customs Motors of $800 and…
A: Lets understand the basics. Account receivable control account is a account maintained to record…
Q: What was the change in R&D cost from the productivity component? (100,000) F (100,000) U (40,000) F…
A: What was the change in R&D cost from the productivity component Correct answer = (b) (100,000) U…
Q: 49. The taxable income is a. P9,200,000 c. P8,200,000 b. P7,500,000 d. P7,430,000
A: Calculation of Taxable Income: Gross Income, Philippines = P10,000,000 Less: Allowable Itemized…
Q: Beau Dawson and Willow McDonald formed a partnership, investing $276,000 and $92,000, respectively.…
A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for…
Q: On January 1, 2018, the Moody Company entered into a transaction for 100% of the outstanding common…
A: Consolidate amount of land at acquisition = land amount of Moody + land amount of Osorio…
Q: ABC Corp acquired 30,000 shares of XYZ Co. The shares were actively traded in the three markets. The…
A: The FVOCI is an investment which is held within the business model and also fulfills all the…
Q: 4. In preparing its April 2004 bank reconciliation, Gregg, Inc. has made available the following…
A: The statement is prepared in order to conform the passbook and the cash book. this statement is…
Q: Gilford, Inc., uses a job order costing system. Costs going through the company's work in process…
A: The inventory accounts are classified as Work in process, finished goods inventory, cost of goods…
Q: JJ and KK are partners who share profits and losses in the ratio of 60% and 40%, respectively. JJ’s…
A: Introduction: Partnership is an arrangement in which two or more person come together to share the…
Q: Statement I: In the absence of stipulation, the share of each partner in the profits and losses…
A: when partners agree to share profit and losses as well as share reward this is the case of…
Q: What is the rate of growth if a company's earnings and dividends increase from P3.15 per share to P4…
A: Increase costs are the percent alternate of a positive variable over time. Increase costs are…
Q: 2. How many regular hours will someone need to work to earn $250 at $12.50/h? 3. Determine two…
A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…
Q: Discuss what you consider as effective board practices
A: Answer An effective board of directors is critical to the success of any organization. Clear,…
Q: Which of the following characteristics would be an indicator that a company would benefit from…
A: Activity based costing is the method of costing in which is used by the company in order to…
Q: do Clipboard Font Alignment EX✓ fx B с D G H J Given is the chart of accounts for JUANA-BET Repair…
A: Ledger is one of the financial book or the collection of accounts where each and every event are…
Q: Wilkins Inc. acquired 100% of the voting common stock of Granger Inc. on January 1, 2021. The book…
A:
Q: Other comprehensive income includes all of the following, except: unrealized gains on available for…
A: Lets understand the basics. Other comprehensive income includes income which does not need to…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- 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%.Given : Total Assets :120.000,Long Term Liabilities : 20.000,Current Assets :80.000, and,Current Liabilities : 60.000Net Profits : 24.000Choose the incorrect Answera) Total Liabilities / Total Sources : 0,67b) Total Debt / Equity :1c) Current Ratio: 1,33d) Return on assets : 0,20for the year ending december 31 2019, settles inc. eanred an ROI of 8.8%. Sales for the year were 16 million and average asset turnover was 2.1. Average stockholder equity was 2.7 million. a. calculate settles margin and net inccome b. calculate settles return on equity
- A) Profit / Loss = Revenues - Expenses 11.500 ( Profit ) , 33.500 ( Loss ) B) Owners Equity = 611.500 C) Cash Flow Operating cash flow activities (0) Investıng " " " (270.00) Financial " " " 400.000 Ending cash 130.000 D) ROA = 0.013 ROE = 0.018 CURRENT RATIO = 3.36 DEBT RATIO = %26 Evaluate the financial situation and financial performance of your company. Use all the above answers A to D, you prepared. Do you have suggestions for the next year?For company, XRZ,Equity multiplier –1.33Total Asset Turnover--1.58Profit Margin – 7.1% Calculate the ROE Its very urgentSome selected financial statement items belonging to MNO Company are given in the table below. According to this information, which of the following is Return on Assets (ROA)? Inventory 12,500Current Assets 50,000Current Liabilities 40,000Non-current Assets 90,000Net Profit 12,000Shareholders' Equity 65,000 Select one:a. 18.5%b. 12.2%c. 9.23%d. 13.3%
- Consider the following financial information and answer the questionsthat follow:Sales : $250,000Costs : $134,000Depreciation : $10,200Operating expenses : $6,000Interest expenses : $20,700Taxes : $18,420Dividends : $10,600Addition to Retained Earnings : $50,080Long term debt repaid : $9,300New Equity issued : $8,470New fixed assets acquired : $15,000 Calculate change in NWCIncome Statements for the Year Ended 31st Dec 2020 KM Ltd ROW Ltd £'000 £'000 Sales revenue 8,320 11,250 Cost of sales (6,020) (9,030) Gross profit 2,300 2,220 Operating expenses (1,048) (1,535) Operating profit 1,252 685 Finance charges (20) (70) Profit before tax 1,232 615 Taxation (62) (30) Profit for the year 1,170 585 SOFP (Balance Sheet) as at 31st Dec 2020 KM Ltd ROW Ltd £'000 £'000 £'000 £'000 Non-current assets 502 198 Current assets Inventory 1,290 2,437 Trade receivables 730 1,990 2,020 4,427 Total assets 2,522 4,625 Equity Share capital 1,350 800 Reserves 580 1,145 1,930 1,945…Income Statements for the Year Ended 31st Dec 2020 KM Ltd ROW Ltd £'000 £'000 Sales revenue 8,320 11,250 Cost of sales (6,020) (9,030) Gross profit 2,300 2,220 Operating expenses (1,048) (1,535) Operating profit 1,252 685 Finance charges (20) (70) Profit before tax 1,232 615 Taxation (62) (30) Profit for the year 1,170 585 SOFP (Balance Sheet) as at 31st Dec 2020 KM Ltd ROW Ltd £'000 £'000 £'000 £'000 Non-current assets 502 198 Current assets Inventory 1,290 2,437 Trade receivables 730 1,990 2,020 4,427 Total assets 2,522 4,625 Equity Share capital 1,350 800 Reserves 580 1,145 1,930 1,945…
- Income Statements for the Year Ended 31st Dec 2020 KM Ltd ROW Ltd £'000 £'000 Sales revenue 8,320 11,250 Cost of sales (6,020) (9,030) Gross profit 2,300 2,220 Operating expenses (1,048) (1,535) Operating profit 1,252 685 Finance charges (20) (70) Profit before tax 1,232 615 Taxation (62) (30) Profit for the year 1,170 585 SOFP (Balance Sheet) as at 31st Dec 2020 KM Ltd ROW Ltd £'000 £'000 £'000 £'000 Non-current assets 502 198 Current assets Inventory 1,290 2,437 Trade receivables 730 1,990 2,020 4,427 Total assets 2,522 4,625 Equity Share capital 1,350 800 Reserves 580 1,145 1,930 1,945…33- Compute total income from the following? Gross Profit OMR 10000, Rent Paid OMR 1000, Commission received OMR 3000 and Dividend received OMR 2000. a. OMR 14000 b. OMR 15000 c. OMR 16000 d. OMR 13000I need amounts for total current assets, total assets, retained earning, dec 31, year 1, and tiotal stockholders equity:Gross profit $1,554,000Total selling expenses $885,000Total administrative expenses $267,500Total operating expenses $1,152,500Income from operations $401,500Net other expenses and income $68,000Income tax $140,500Net income $329,000Earnings per common share (rounded to the nearest cent) $2.29Retained earnings, January 1, Year 1 $9,319,725Total current assets $Investment in Dream Inc. bonds $90,000Total property, plant, and equipment $11,174,000Total assets $Total current liabilities $238,300Net long-term liabilities $519,000Total liabilities $757,300Total paid-in capital preferred 5% stock $1,750,000Total paid-in capital common stock, $20 par $2,886,800Total paid-in capital $4,649,800Retained earnings, December 31, Year 1 $Total stockholders' equity