Q: A Trading has a total sales of P 98,800; sales return is P 5,400; cost of good sold is P 8,490;…
A: Net sales = Total sales - sales return = P98,800 - P5,400 = P93,400
Q: Seed Enterprise gathered the following information from its accounting records for the year ended…
A: The net account receivables is calculated as gross account receivables minus allowance for…
Q: The trading results of a Merchandise trader is as follows: Net Sales OMR 150,000, Cost of Goods sold…
A: Operating expenses are those expenses that are incurred by the company to perform the day-to-day…
Q: What is the net rent income for the current year? * a. 275,000 b. 290,000 c. 350,000 d. 365,000
A: An operating lease is a type of lease under which there is a contract and it is through this…
Q: Presented below are certain account balances of Wildhorse Products Co. Rent revenue $6,540…
A: Particular Amount Sales Revenue $402,000 Less: Sales Discount ($7,830) Less: Sales returns and…
Q: Happy Inc. provided the following information: Beginning balance of Accounts receivable P5,000,000…
A: The accrual basis accounting records the revenue and expenses of the current period when they are…
Q: Alan uses the income statement approach in estimating uncollectible accounts expense, and…
A: Amount of credit sales = Total sales * (1-Cash sales%) = 900000*(1-20%) =720000
Q: (Click on the following icon in order to copy its contents into a spreadsheet.) Income Statement…
A: “Hi, there, Thanks for posting the question. As per our Q&A honour code, we must answer the…
Q: As of May 31, 2014, how much is the net realizable value of the accounts receivable? * Given the…
A: Estimated uncollectible accounts = accounts receivable x ( - 0.90) =95400 x (1 - 0.90) = P9540
Q: Given the following data; TOTAL SALES OMR 250000 CASH SALES OMR 125000 SALES RETURN OMR 5000 OPENING…
A: The correct option is A. 120000
Q: Rosalie Co. uses the gross method to record sales made on credit. On June 10,2018, it made sales of…
A: A sale transaction under the gross method is recorded with the gross amount, i.e. no amount of…
Q: For each company, compute the following ratios. (Round current ratio answers to 2 decimal places,…
A: 1.Current ratio=current liabilites current assets 2.Account receivable turnover=Net Credit…
Q: Calculate net profit from the following? Net sales OMR 50000, Cost of goods sold OMR 20000, Rent…
A: Net profit is the amount remain after payment of all expenses.it can be calculated Net…
Q: Compute total income from the following? Gross Profit OMR 15000, Rent Paid OMR 3000, Commission…
A: Total income = Gross Profit - Rent Paid + Commission received + Dividend received
Q: Net credit sales?
A: It is pertinent to note that Net sales = Total sales - Sales returns and allowances Now Total…
Q: culars Debit ? Credit as on Ist April, 2016 5,00,000 hases and Returns 31,00,000 45
A: Trading and Profit and Loss Account of Mr. Neel for the year ending 31st March, 2017…
Q: The following are ABM Store's year-end balances of selected accounts: Cash, P200,000.00; Sales,…
A: Net Sales = Sales - Sales Discount Gross Profit = Net Sales - Cost of Goods sold Net Income = Gross…
Q: How to calculate Net Income or Net loss when given the Revenues and Expenses: Fees earned: $250,000…
A: Net income is calculating after deducting all the expenses from the total revenue earned. Net income…
Q: following ratios for 2021. 1) Inventory turnover 2) Profit margin 3) Return on assets
A: As per the guidelines, only three subparts are allowed to be answered. Please submit the question…
Q: My business has a net sales of $3,492,690, of which 40% was cash ($1,397,076), 50% was on account…
A: Accrual basis of accounting: Accrual basis of accounting refers to recognizing the expenses and…
Q: Use the following information from financial statements of Hamilton Inc. Information from Balance…
A: Cash is referred as the most liquid asset an organization or a company can have. It is considered to…
Q: Calculate :1.gross profit percentage on cost. 2. Net profit percentage 3. Debtors collection…
A: Hi student Since there are multiple subparts, we will answer only first three subparts. If you want…
Q: Please answer only to question b) ( but please, don't copy from any other answer , I would like to…
A: Ratio Analysis: It is the analysis of various items of financial information in the financial…
Q: deducting credit balances of custc , 500 verdraft of P22,650
A: Given as,
Q: Compute the net profit if, Service Revenue OMR 110,000; Other income OMR12,000; salary Expenses OMR…
A: Introduction: Income statement: All revenues and expenses are to be shown in income statement. It…
Q: i. Use the information available in Income and Financial position statement in Part A and calculate…
A: The ratio is a measure of the relation between two numbers. In accounting, the relationship between…
Q: se the following selected financial statement information from Black Water Industries. BLACK WATER…
A: Accounts Receivables - Accounts Receivables are the amount unpaid by the customer for the service…
Q: Calculate the net profit from the following? Net sales OMR 100000, Cost of goods sold OMR 40000,…
A: Net sales = OMR 100000 COGS = OMR 40000 Rent received = OMR 20000 Salaries = OMR 10000 Insurance =…
Q: Montana Co. had the following account balances: Sales revenue Cost of goods sold Salaries and wages…
A: As posted multiple independent questions we are answering only first question kindly repost the…
Q: The subtotals of -the income statement columns are $4,900(cr amount), respectively If the subtotal…
A: Balance sheet: A statement that provides summary of the assets, liabilities and the owner’s equity…
Q: Compute the net profit if, Service Revenue OMR 110,000; Other income OMR12,000; salary Expenses OMR…
A: Net profit is the amount the money made by your business after deducting all operating, interest,…
Q: Compute the net profit if, Service Revenue OMR 110,000; Other income OMR12,000; salary Expenses OMR…
A: Introduction: Income statement: All revenues and expenses are to be shown in income statement. It…
Q: A company has net income of $196,000, a profit margin of 10.00 percent, and an accounts receivable…
A: The question is based on the concept of ratio analysis.
Q: Luxe Mobile Homes reported the following in its financial statements for the year ended December 31,…
A: The cash flow statement is prepared to record the cash flow from various activities during the…
Q: Marr Company reported rental revenue of P2,210,000 in its cash basis income tax return for the year…
A: Accrual basis of accounting is different from cash basis of accounting. In case of accrual basis of…
Q: Assume that for the 2017 fiscal year, AstroCo reported sales revenue of $3.4 billion and cost of…
A: Ratio analysis helps to analyze the financial performance of the company. The management can take…
Q: a) According to the information available in Income and Financial position statements in Part A,…
A: The financial ratios provide the data to compare the performance with other players or the past year…
Q: The Allowance for uncollectible accounts currently has a credit balance of $200. Thecompany's…
A: Allowance for an uncollectible account is a contra asset account that is deducted from the total…
Q: What is the gross margin ratio of Company B? How much purchases did Company A have for 2021? What is…
A: For company to generate profit operating margin it need to consider all the factors which are…
Q: Impact on Impact on profit 1 Account Debit Credit current ratio margin Payroll expense 72,000 3…
A: Current ratio is calculated by dividing the current assets with current liabilities. Current ratio =…
Q: REQUIRED: a) Calculate the following ratios: i) Gross profit ii) Net profit before tax Current ratio…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: net profit
A: Here cost of Goods sold amount is Given. hence no requirement for closing stock , opening stock, Net…
Q: Portions of the financial statements for Peach Computer are provided below. PEACH COMPUTER Income…
A: The cash flow statement is prepared to record the cash flow from various activities during the…
Q: b. Assuming Anne's competitor's ratio averages are as stated above for month October of years 2019,…
A: Ratio Analysis: Ratio Analysis is used as a means to assess the performance of a business over a…
Q: What was the gross margin for 2022? * Selected information from the accounting records of the…
A: Accounts receivable turnover = Sales / Average accounts receivable 5 = sales /((900000+1000000) /2…
Q: Averill Products Inc. reported the following on the company's income statement in 20Y8 and 20Y9:…
A: Times interest earned ratio shows the ability of a company to meet it's interest obligation. Times…
Step by step
Solved in 3 steps with 2 images
- how does it calculate the 500000 in 20x1 and 400000 in 20x0 in profit attribitable to ordinary sahreholders column?A sole trader has the following items in the book accounts: Sales R60 000; Cost of Sales R50 000; Opening Stock R10 000; Purchases R40 000; Wages R20 000 and Office Rent R10 000. What is the value of net profit /loss?Net sales OR 207000 Cost of the goods sold OR 165000 Closing Stock OR 8700 Details Debit Credit Salary 6500 Rent 14200 Interest Payable 750 Stationery 870 Insurance 1850 Dividend 900 What will be the Net Profit? Select one: a. RO 10030 b. RO 10780 c. RO 19480 d. RO 20230
- I. Listed below are the income statement accounts of MBA Company as of December 31,2020.DEBIT CREDITSales P 475,000Sales Return & Allowances P 5,000Purchases 220,000Purchase Return & Allowances 3,000Advertising 10,000Sales Salaries 30,000Commission Expense 15,000Miscellaneous Selling Expense 3,000Rent Expense 15,000Office Salaries 20,000Light & Water 2,000Insurance Expense 1,000Taxes & Licenses 5,000Merchandise Inventory- Jan. 1,2019 57,000Merchandise Inventory-Dec. 31,2019 10,000Required:Compute the following;1. Net Sales_________________________2. Net Purchases_____________________3. Cost of Goods Sold_________________4. Reporting Period__________________5. Net Profit________________________The following information is available from the annualreport of Frixell, Inc.: Currentliabilities . . . . $300,000Operatingincome . . . . . 240,000Net income . . . . 80,000 Currentassets . . . . $ 480,000Average totalassets . . . . 2,000,000Average totalequity . . . . 800,000Which of the following statements are correct? (More thanone statement may be correct.)a. The return on equity exceeds the return on assets.b. The current ratio is 0.625 to 1.Halal Berhad’s comparative financial statements for the years ending 31 December 2020, and 2019, are as follows. Halal Berhad’s common stock market price was RM35 on 31 December 2020 and RM40 on 31 December 2019. Halal Berhad Statement of Profit or Loss and Other Comprehensive Income For the years ended 31 December 2020 and 2019 2020 (RM’000) 2019 (RM’000) Sales 1,200 1,000 Cost of goods sold 500 475 Gross Profit 700 525 Selling expenses 240 200 Administrative expenses 180 150 Total operating expenses 420 350 Income from operations 280 175 Other income 166 225 446 400 Other expense (interest) 66 60 Income before income tax 380 340 Income tax expense 80 60 Net income 300 280 Halal Berhad Statement of Financial Position As at 31 December…
- Herbert Wong has extracted the following information from her income statement and balance sheet for 2021 and 2020: 2021 2020 Profit After Tax $656,810 $672,346 Cost of Sales $54,269 $53,251 Sales Revenue $259,368 $212,962 Inventory $35,505 $45,285 Accounts payable $120,483 $129,398 Accounts receivable (Debtors) $59,498 $79,380 Owner's Equity $1,523,999 $1,131,784 Based on the information provided, calculate the Days in Accounts Receivable for 2021, expressed in days to 2 decimal places.Then balance off the accounts and extracted a trial balance for sole trader Airman Co. as at 30September 2020:DR CR£ £Capital £306,070Drawings 26,500Cash at bank 20,000Cash in hand 8500Accounts receivable (Debtors) 70,000Accounts payable (Creditors) 16,000Inventory (Stock): 30 September 2019 36,000Van 16,000Fixtures and Fittings 32,000Sales 80,000Purchases 150,000Return inwards (Sales Returns) 2,000Carriage inwards 720Returns outwards (Purchase Returns) 600Carriage outwards 400Motor expenses 1200Rent 5,000Telephone charges 620Wages and salaries 32,000Insurance 830Office expenses 600Sundry expenses 300437,600 437,600Inventory as at 30 September 2020was £120,000.Requireda. Draft an Income Statement for S. Keyes for the year ending 30th September 2019Some 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) in 2021? Inventory 12,500Total Assets in 2021 110,000Current Liabilities 40,000Total Assets in 2020 90,000Net Profit 12,000Shareholders' Equity 65,000 Select one:a. 0.12b. 0.10c. 0.18d. 0.13
- Following are forecasts of sales, net operating profit after tax (NOPAT), and net operating assets (NOA) as of December 31, 2018, for Humana. Reported Horizon Period $ millions 2018 2019 2020 2021 2022 TerminalPeriod Sales $56,912 $57,766 $58,632 $59,512 $60,404 $61,008 NOPAT 2,492 2,542 2,580 2,619 2,658 2,684 NOA 4,032 4,097 4,158 4,221 4,284 4,327 Answer the following requirements assuming a discount rate (WACC) of 7.8%, a terminal period growth rate of 1%, common shares outstanding of 135.6 million, net nonoperating obligations (NNO) of $(6,129) million, which is negative because Humana’s nonoperating assets exceed its nonoperating liabilities, and no noncontrolling interest (NCI) on the balance sheet. (a) Estimate the value of a share of common stock using the residual operating income (ROPI) model as of December 31, 2018. Instructions: Round all answers to the nearest whole number, except for discount factors, shares outstanding (do not round), and…Begin with the partial model in the file Ch02 P21 Build a Model.xlsx on the textbooks Web site. a. Using the financial statements shown here for Lan Chen Technologies, calculate net operating working capital, total net operating capital, net operating profit after taxes, free cash flow, and return on invested capital for 2020. The federal-plus-state tax rate is 25%. b. Assume there were 15 million shares outstanding at the end of 2019, the year-end closing stock price was 65 per share, and the after-tax cost of capital was 10%. Calculate EVA and MVA for 2020. Lan Chen Technologies: Income Statements for Year Ending December 31 (Millions of Dollars) Lan Chen Technologies: December 31 Balance Sheets (Thousands of Dollars)Summerfields Sdn BhdBalance Sheet as at 31 December 2020 (RM’000)Cash 400 Account payable 1,200Marketable securities 500 Accrued wages 1,200Accounts receivable 750 Notes payable 700Inventories 500 Mortgage payable 2,200Net Fixed Asset 4,850 Common stock 500Retained earnings 1,200TOTAL ASSETS 7,000 TOTAL CLAIMS 7,000Additional information:-i) Sales in 2020 was RM 12 million and it is projected to increase to 18 million in 2021.ii) The company is operating at full capacity.iii) The net profit for this company in 2020 was RM1,200,000 and dividend payment wasRM300,000.iv) All external financing will be absorbed and met by common stock.Prepare a pro-forma balance sheet for Summerfields Sdn Bhd for the year ended 2021by using percent of sales method and determine the external funds required.
