FILL - UP THE MISSING AMOUNTS: Sales 3,593,800 Cost of Goods Sold 2,450,300 Gross Profit Expenses Net Profit (480,300)
Q: 20- 21Total asset is PHP750,000. Sales is PH-P1,500,000. What is the total asset turnover?
A: As per the guidelines, only one question is allowed to be solved so I am answering question 20-21.…
Q: On February 1 of the current year, Motor, Inc., issued 600 shares of $3 par common stock to an…
A: Additional paid in capital- Common stock = 8700-1800 =$6900
Q: а. What would be the best way to describe Chen's agreement: reducing balance loan, interest-only…
A: Concept of basic Accounting
Q: respectívely. The balances of their capital accounts on December 31, 2011 are as follows: Silverio P…
A: Partnership means where two or more person comes together to do some common business activity and…
Q: a Ose the data to prepare a Standard Presentation of the Balance of Payments #0 Show how vou…
A: Balance of payment, It is also known as international payment, these are the transaction between one…
Q: On October 1, 2021, Tyeso Company entered in a noncancellable purchase commitment to purchase…
A: a. P375,000 b. P7,275,000 c. P150,000 (gain) Explanation: See computations below:
Q: Required: 1. Assume that the company uses variable costing. Compute the unit product cost for one…
A: Solution:- 1)Calculation of the unit product cost for one barbecue grill if company uses variable…
Q: On January 1, 2022 Romano Company purchased a machine for $180,000. It is estimated that the machine…
A: The declining balance method is a method of depreciation that calculates depreciation on a reduced…
Q: Which statement is true with respect to the tax treatment of a partnership __________? A…
A: Introduction A Partnership is an association between two or more people to trade or carryout…
Q: Construction Boys CC, a registered VAT vendor, purchased equipment for R92 000 (inclusive of 15%…
A:
Q: Gomez is considering a $200,000 investment with the following net cash flows. Gomez requires a 15%…
A: Calculation of Net Present Value of the Project Year Net Cash Flows Present value of $ 1 at 15%…
Q: ESSAY 32 - 34. Ending inventory is PHP13,000 while accounts payable is PHP2,500. Purchases were half…
A: Accounts payable always forms part of current liabilities. It is shown in the balance sheet under…
Q: Cost Department Allocations In divisional income statements prepared for Demopolis Company, the…
A: Total Support department allocations=Payroll Department allocations+Purchasing Department…
Q: Using the percentage method in Appendix C (or the IRS federal income tax assistant), calculate the…
A:
Q: Explain when a full tax invoice and an abridged tax invoice is requir
A: A tax invoice is a statement issued for the delivery of taxable goods and services. A tax invoice…
Q: Ray Corporation has two products in its ending inventory, each accounted for at the lower of cost or…
A: The question is related to Valuation of Inventories. The Inventory Should be Valued at lower of…
Q: What happens when a qualified exempt importer subsequently sells what was imported to a taxable…
A: when a qualified exempt importer subsequently sells to non exempt person, the purchaser shall be…
Q: Giorgio had cost of goods sold of $9,101 million, ending inventory of $2,089 million, and average…
A: Inventory turnover = Cost of goods sold / Average inventory
Q: 10) Counte Company's cash balance at the end of the month was $ 5,500. After comparing the company's…
A: Bank reconciliation statement is used to determine the differences between the bank statement…
Q: The board of directors of a human resources outsourcing company has declared a dividend of…
A: The dividend is paid to shareholders from the retained earnings of the business.
Q: On January 2, Bering Company disposes of a machine costing $57,600 with accumulated depreciation of…
A: A journal entry is often recorded in the main ledger; however, it may also be entered in a…
Q: 1. A sole trader had opening capital of £10,000 and closing capital of £4,500. During the year the…
A: The ending capital is calculated after making adjustments to beginning capital for income or losses,…
Q: Which of the following is not an example of control procedures to safeguard cash received from…
A: Cash is one of the important current asset of the business. It's management and valuation is very…
Q: Sandpiper Company has 20,000 shares of cumulative preferred 3% stock, $50 par and 50,000 shares of…
A: >Dividends are the payment to investors of stock or shares. >Usually, preferred…
Q: The calculation of working capital requires the inclusion of: A.liabilities expected to be paid in…
A: Lets understand the basics. Working capital is a capital required to run day to day business…
Q: hen purchase costs regularly rise, the inventory costing method that yields the highest reported net…
A: The inventory can be valued using various methods as LIFO, FIFO, average and specific identification…
Q: Utilities expense 2,180 Equipment 66,600 Accounts payable 17,520 Cash 11,460 Salaries and wages…
A: Formula: Net income = Total Revenues - Total Expenses Deduction of total expenses from Total…
Q: Cash received in January for a credit sale made in December will: A.Increase cash and sales revenue…
A: As per accrual basis accounting, the revenue and expenses should be recorded in the month they are…
Q: Canteen creditors Fixtures & fittings Independence fair expenses Wages for canteen staff Laundry…
A: A balance sheet is a financial statement that depicts a company's assets, liabilities, and…
Q: please i need help with quickbooks, please tell me in quickbooks where do i supposed to records…
A: Solution: (1) Date Account Dr Cr Insurance that has been paid in advance $1,200…
Q: a. Water slide equipment could be purchased and installed at a cost of $345,000. Ac usable for 12…
A: Simple Rate Return = Net operating income / Initial investment net of salvage value of old equipment…
Q: You are required to (i)Determine profit, when sales =200,000 Fixed cost=40,000 BEP=160,000…
A: Breakeven sales * Profit volume ratio =Fixed cost Sales * Profit volume ratio =Fixed cost + Profit
Q: Pit Coporation owns 75% of Stop Company's outstanding common stock. On 01/01/21, Pit sold sold a…
A: Date Company Particulars Debit Credit Jan-01 Pit Bank 2,36,000…
Q: Alma Corp. issues 1,120 shares of $7 par common stock at $15 per share. When the transaction is…
A: The correct journal entry to record issue of shares will be: Account Titles Debit Credit…
Q: Which one of the following would appear on IBM’s statement of financial position
A: In accounting statement of financial position is also known as balance sheet. In a statement of…
Q: Current Attempt in Progress Selected transactions for Swifty's Dog Care are as foll ows during the…
A: Double entry system of bookkeeping Under double entry system of bookkeeping one account is debited…
Q: 16. Which of the following statements is true? A. Gross profit margin is always less than net profit…
A: Gross profit margin = Total sales revenue - cost of goods sold
Q: Oct. 23, 2022: Mr Alberto bought 10 toner cartridges worth P15,000 as supplies for his printers.
A: Introduction: Journals: Another name for journals also called as Book of prime entries. Each and…
Q: Garland Company Budget Performance Report—Vice President, Production For the Month Ended November 30…
A: The data is said to be over budget when actual costs are more than the budget cost and under budget…
Q: Mercedes, Melinda and Julieta are partners sharing profit and loss 40%, 30% and 30% espectively.…
A: Journal entry of retirement of Mercedes: Mercedes, Capital 422,000…
Q: 1. Prepare the necessary journal entries to correct the accounting records of Madison Company’s…
A: Introduction: A retained earnings statement is a financial statement that displays how a company's…
Q: 22. On January 1, 2021, Grana Inc. purchased 13%, P,500,000 face value bonds of Maldi Inc. at a…
A: Faor Value Through the Statement of Other Comprehensive Income [FVTOCI]…
Q: JOURNAL Page 43 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- Nov. 6…
A: In the context of the given question, we should answer the questions asked from the journal entries.…
Q: udit reports of banks.
A: Today, a lot of risks are associated with the banking sector. The banking sector is trying to reduce…
Q: a. All future prices and future dividends are expected values OTrue OFalse
A: Since you have posted multiple questions, we shall be solving the first one for you. In case you…
Q: Cost of Gross Operating Expenses Net Sales Net Profit ($) Goods Sold Margin ($) $336,500 $132,200 24…
A: Introduction: Deduction of operating expenses from from Gross margin value derives the Net profit.…
Q: Do you agree with this statement? Explain why or why not
A: Budgeting is the technique which is applied and made by each organization and any business more…
Q: Durant Company manufactures glass bottles for dairy products. The contribution margin is $0.42 per…
A: Net contribution margin after recall = Actual contribution margin - Additional cost incurred due to…
Q: Let's say a retail outlet sells a seasonal product for $10 per unit. The cost of the product is $8…
A: Solution:- a)Calculation of the recommended order quantity the recommended order quantity as follows…
Q: On January 1, 2021, the partners decided to wind up the partnership affairs. During the winding up,…
A: A partnership is indeed a legally binding contract between two or more persons to manage and run a…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- The following is select account information for August Sundries. Sales: $850,360; Sales Returns and Allowances: $148,550; COGS: $300,840; Operating Expenses: $45,770; Sales Discounts: $231,820. If August Sundries uses a multi-step income statement format, what is their gross margin?Using the financial information presented for Alexandria Co., compute the missing amounts. Do not include dollar signs or commas in your answers. If an amount is to be deducted, do NOT include parentheses or negative signs. Sales revenue Sales returns and allowances 40,000 Net sales 90,000 Cost of goods sold Gross profit 70,000 Operating expenses Net income 20,000Please answer very fast then i ll upvote Calculate EBIT. Revenue 1,061,751.0 Cost of sales 690,135.0 Selling, general and administration 53,087.0 Other income 11,796.0 Operating income 330,325.0 Interest expense 19,874.0 Profit before tax 310,451.0 Tax expense 46,500.0 Net income 263,951.0 The footnotes mention the following: Cost of sales includes inventory write off costs 39,677.0 Cost of sales includes distribution costs 120,458.0 SG&A includes corporate restructuring expenses 15,570.0 Responses 385,572.0 275,078.0 330,325.0 506,030.0
- Please don't provide answer in image format thank you. If net sales are $600,000 and gross profit is $412,800, what is the gross profit margin? O 145.4% ○ 66.7% O 31.2% ○ 68.8%If net sales is $373,000 and cost of goods sold is $223,800, what is the gross profit and gross margin percentage? Please avoid image based answers thank youThe records of a business show the following information: Sales, P364,000; Purchases, P252,000; Freight-in, P11,000; Purchase discounts, P4,900; Sales returns, P12,600; Purchase returns, P3,000; Inventory, beg. P22,400; and Inventory, end. P15,000. How much is the gross profit? P101,500 P103,700 P99,900 P88,900 How much is the total goods available for sale? Choices: P277,500 P251,500 P262,500 P266,500
- Do not copy from bartleby. Otherwise i will give you dislike Sales revenue Freight in Beginning inventory Purchases discounts 44,000 75,000 20,000 44,000 Sales returns and allowances 99,000 Operating expenses Ending inventory 72,000 415,000 Purchases Sales discounts 25,000 William Browning, withdrawals 61,000 Purchase returns and allowances 36,000 A. The total cost of goods available for sale B.The cost of goods sold is:1. Given this information, what is the profit percent? Format your answer to two decimal places and add a %-sign (i.e. 4.52%) Net Sales $561,800 Cost of Goods Sold 275,280 Expenses 253,936 2. Given this information, what is the profit dollars? Round your answer to the dollar and add a dollar sign and comma separator (i.e. $15,467) Net Sales $561,800 Cost of Goods Sold 275,280 Expenses 253,936 3. Given the information below, what is the profit dollars? Round your answer to the dollar and add a dollar sign and comma separator (i.e. $15,467) Gross Sales $341,420 Customer Returns 29,870 Cost of Goods Sold 161,570 Expenses 138,140 4. Given the information below, what is the profit percent? Round your answer to two decimal places and add a percent sign (i.e. 15.37%) Gross Sales $341,420 Customer Returns 29,870 Cost of Goods Sold 161,570 Expenses 138,140 5. Given the information below, what are…For Mortenson Company, the following information is available: Cost of goods sold P 60,000; Sales discounts 2,000; Income tax expense 6,000; Operating expenses 23,000; Sales 100,000. In Mortenson’s income statement, gross profit Choices; should not be reported. should be reported at P9,000. should be reported at P38,000. should be reported at P40,000
- Calculate the Lower-of-Cost-or-Market using the table below for Samson Goods, Inc. springs inventory. (1) Complete the table. Part # Cost Replacement Cost Net Realizable Value Normal Profit NRV less Normal Profit LCM SP17G $181,000 $ 152,000 $151,000 $15,000 SP23X 254,000 249,800 262,500 25,800 SP78A 205,400 214,000 206,000 10,200 Total (2) Prepare the journal entry to record the Allowance to Reduce Inventory to Market using the "Loss Method". $ $ (Record the adjustment to inventory due to decline in value)7. I do not understand how to find the dollar amounts for these questions with the numbers given: Compute the $ based on these percentages Net Sales $46,710Gross Profit: $21,479Net Income: $6,046Total Selling and Administrative Expense: $14, 804 a)Cost of Goods 54.0% = $ Amountb)Gross Margin Percentage 46.0% = $ Amountc)SG&A Expense Percentage 31.7% = $ Amountd)Operating Profit Margin Percentage 14.2% = $ Amounte) Net Profit Margin (After Taxes) 12.9% = $ Amount If you could provide the formulas used it would be a big help, again the percents are already there I need to find the dollar amount the percents reflect.what is the missing infomation Net Sales Cost of Goods Sold Gross Margin Operating Expenses Net Profit 1. $565,700 $244,600 $321,100 $276,400 $44,700 2. $4,232,000 $2,362,000 $1,870,000 $1,210,500 $659,500 3. $705,300 $398,450 $306,850 $196,525 $110,325 4. $334,500 $132,300 blank 1 $108,000 blank 2 5. $1,640,000 ANSWER $760,000 $354,780 ANSWER 6. blank 5 $257,000 $418,530 blank 6 $84,370
