help me create an analysis on liquidity, profitability, short-term solvency, long-term solvency of the company.
Q: List and explain various functions of accounting.
A: Accounting is the process of recording financial transactions pertaining to a business. The account...
Q: Thomson Company makes small metal containers. The company began December with 250 containers in proc...
A: Equivalent units for conversion costs (weighted average method) = No. of units Completed + (Ending w...
Q: On September 8, 2020, Holly purchased a residential apartment building. The cost basis assigned to t...
A: Depreciation: The word "depreciation" refers to an accounting procedure that is used to spread the c...
Q: 2 At December 31, the company had account balances in Accounts Receivable of $50,000 and in |Allowan...
A: Bad debts expense = Estimated uncollectible accounts - Beginning credit balance in Allowance for unc...
Q: right-of-use asset is increased by lease prepayments made by the lessee and initial direct costs i...
A: Solution: Right to use asset is the lessee's right to use or operate a leased asset during the lease...
Q: The following costs pertain to Juan Corporation’s only product Leather: Direct Materials P 10.00/uni...
A: Variable costing only considers variable cost of production keepin...
Q: Parent Company acquired 15% of Subsidiary Company’s common stock for P500,000 cash and carried the i...
A: Acquisition of 15% share value is P500,000 The parent company has the 60% of shares in the subsidiar...
Q: A company reported the following data: • Sales price per unit: $10 • Fixed cost per month: $20,000 •...
A: Formula: Contribution margin = Sales price - variable cost
Q: Krueger Corporation manufactures a single product whose selling price is $134 per unit and whose var...
A: Working notes: Selling price per unit = $134 Variable expenses per unit = $67 Contribution per un...
Q: The following is Arkadia Corporation's contribution format income statement for last month: Sales...
A: The break-even point in units is determined by dividing the total fixed expenses with the contribu...
Q: The accountant of AA Company gathered the following information: The November 30 bank statement bal...
A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with...
Q: The Bankruptcy Code exempts (limited to a certain dollar amount) which type of property? jewelry fam...
A: Bankruptcy is a type of insolvency in which people who are unable to pay their debts seek relief fr...
Q: efer to Williams Company. What is the prime cost of Job #6?
A: Solution Concept Prime cost means the direct cost incurred other than the overheads Mathematically p...
Q: On September 1, 2022, Curly Company approved a formal plan to sell a business segment. The sale will...
A:
Q: The initial direct costs of leasing include lessor advertising costs. are generally borne by the l...
A: Introduction:- Initial direct costs included costs incurred by the lessor. It includes the amounts o...
Q: Stellar Industries and Pearl Inc. enter into an agreement that requires Pearl Inc. to build three di...
A: Solution: If any one of the following criteria is met, lease should be classified as finance lease: ...
Q: Prepare a balance sheet using the following information for the Ginger Company as of March 31,2019.
A: Balance Sheet Current Assets Cash 11050 Inventory 8230 Non current Assets Equi...
Q: 1. Emily recently graduated with a B.A. in economics and was offered a job with a small but growing ...
A: Accounting profit, also known as accounting profit or financial profit, is the net profit produced a...
Q: Which of the following budgets are prepared before the sales budget? Budgeted Income Statemen...
A: Sales budgets are financial plans that forecast a company's overall income for a certain time. Compa...
Q: The premium on a two-year insurance policy expiring on June 30, 2015, was paid in total on July 1, 2...
A: Insurance expenses for the next 2 years have to be apportioned based on the number of months; so, in...
Q: If the branch receives credit memo from the home office, the branch shall record it in its separate ...
A: Branch accounting is defined as an a accounting system in which separate accounts are kept for each ...
Q: Match each phrase with its definition. 1. Seller's description of a cash discount granted to buyers ...
A: Discount is the amount of deduction or allowance that is being given to the buyer for purchasing mor...
Q: 7....Stellar Industries and Pearl Inc. enter into an agreement that requires Pearl Inc. to build thr...
A: Calculation of depreciation Building cost = $2362000 / 10 years = 236200 Statement of lease ...
Q: The National Inc. will produce 5,000 boxes of chocolates next year. Variable costs is 60% of sales, ...
A: The question is related to Marginal Costing. The details are given as under Fixed Cost = P160000 Man...
Q: The Bulldogs Inc.’s stock price is believe to decline from its current level of P125 anytime during ...
A: The correct answer for the above mentioned question is given in the following steps for your referen...
Q: Disk City, Inc., is a retailer for digital video disks. The projected net income for the current yea...
A: Formula: Break even point in units = Fixed cost / unit Contribution margin
Q: The AB division sells goods internally to the CD division of the same company. The quoted external p...
A: Cost Based Transfer Price is based on the total cost incurred. Cost plus 20% Transfer Price is based...
Q: Joyful Journeys Music School provides private music lessons for elementary students. Its operating c...
A: The break even sales are the sales where business earns no profit no loss during the period.
Q: The capital structure of Bulldogs Inc. is comprised of 50% ordinary stock, 25% preferred stock, and ...
A: Formula: Weighted Average Cost of Capital = (Cost of Ordinary Stock X Weightage of Ordinary Stock) +...
Q: PROBLEM 2: (CHANGE IN ACCOUNTING POLICY) Shilo Co. has been using the weighted average method of inv...
A: Accounting policy: Accounting policy includes those accounting methods, rules, concepts, and princip...
Q: Prepare journal entries to record each of the following transactions. The company records purchases ...
A: Journal entries (JE) refers to recording of transactions into the books of accounts or original book...
Q: Shareholders choose to invest in preferred shares because: a. preferred shares can always be conve...
A: Only convertible preferred shares will be converted into ordinary shares at the shareholder's option...
Q: At December 31, 2021, Carla Vista Imports reported this information on its balance sheet. Accounts r...
A: The question is based on the concept of Accounting Ratios.
Q: basic shareholders rights Group of answer choices The right to inspect the accounting records of the...
A: Shareholders are known as the owners of the company. And the control lies in their hands too. They r...
Q: what is income before income taxes ?
A: Income tax is a type of tax levied by governments on income earned by businesses and individuals wit...
Q: January 2, 2020, P Company acquired 80% investment in S Company. The acquisition cost was equal to P...
A: The question is related to Consolidation. The details are as under Share of P in S Company = 80% N...
Q: 3.The following data relates to Available for Sale Securities: Please Journalize all the entries re...
A: A journal entry is a form of accounting entry that is used to report a business transaction in a com...
Q: P20,000,000. The supplier provides the entity one additional truck of the same kind with a fair valu...
A: whenever a company purchase it's asset is recording is done in the balance sheet at historical cost...
Q: This is Lemon Company's first year of business and it sells smart phones for $400 that cost $200. Th...
A: Warranty refers to a promise or guarantee given by the seller or manufacturer of a product to its cu...
Q: 1 June 2017, Whiting Technologies Ltd declared a $550 000 cash dividend to be stributed to its share...
A: Solution: Dividend is the amount of profits distributed to the stockholders by the company. When div...
Q: determine the net income
A: To determine the Net income of the business. We have to prepare Income Statements to determine the n...
Q: e balance is P
A: Introduction Net Income: Total revenue less all other expenditures and costs (including any other ...
Q: During the tax year ending on 30 June 2016, XYZ Ltd, a resident Australian company, received a frank...
A: In this question , we will calculate XYZ Ltd's tax payable or refundable for the 2016 tax year.
Q: 12. Assume you have the option to buy one of three bonds. All have the same degree of default risk ...
A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the exac...
Q: The following costs pertain to Bulacan Corporation’s only product Leather: Direct Materials P 10.00/...
A:
Q: National Co. has the following information for the period: Product sales: Variable manufacturing cos...
A: In the case of absorption costing, all production costs shall be treated as product costs. The cost ...
Q: Operating expenses on the income statement for financial reporting included $10,000 of advertising c...
A: calculation of variable advertising cost per unit are as follows
Q: (a) Compute net cash flow from operating activities using the direct method. (Enter negative amounts...
A: Statement of cash flow (CFS) are those financial statement which shows the flows of cash and cash eq...
Q: Acklin Company has two products: A and B. The annual production and sales of Product A is 600 units ...
A: In this question, we will calculate the predetermined overhead rate (i.e., activity rate) for Activi...
Q: On August 1, 2010, a company issues bonds with a par value of $600,000. The bonds mature in 10 years...
A: Journal Entry for Interest Accrued on December 2010
help me create an analysis on liquidity, profitability, short-term solvency, long-term solvency of the company.
Step by step
Solved in 3 steps
- Net Sales 36000 Commission received 6430 Interest received 3570 Cost of goods sold 7400 Dividends received 2220 From the above information the total income will be: a.OMR 41280 b.OMR 42820 c.OMR 48220 d.OMR 40820 Fast plz***********tion 8Income statement for the year ended 31 December, 2019 of KKMTN Ghana Ltd2018 2019ȼ ‘000 ȼ ‘000Turnover 420,000 523,600Cost of sales (330,000) (417,200)Gross profit 89,000 106,400Expenses:Administration 44,600 50,200Selling and distribution 15,400 (60,000) 19,600 (69,800)Profit before interest 29,000 36,600Debenture interest - (2,800)Net profit before tax 29,000 33,800Taxation (8,000) (10,000)Net Profit after tax 21,000 23,800Ordinary dividend paid 8,400 9,250Ordinary shares issued 12 million and trading at ȼ3 each as at yesterday onGSE.You are required to compute the following investment ratios:a). Earnings per shareb). Dividend per sharec). Payout ratiod). Price earnings ratioe). Earnings yieldThe following information is available for Cheyenne Corp.: 2022 2021 Accounts receivable $ 373000 $ 346000 Inventory 287000 357000 Net credit sales 2911950 2621000 Cost of goods sold 1804000 861000 Net income 309000 176000 The accounts receivable turnover for 2022 is If Year 1 cost of goods sold equals $760, Year 2 cost of goods sold equals $820, and Year 3 cost of goods sold equals $580, the percentage to be assigned for Year 1 in a trend analysis, assuming that Year 1 is the base year, is If Year 1 sales equal $750, Year 2 sales equal $1500, and Year 3 sales equal $930, the percentage to be assigned for Year 2 in a trend analysis, assuming that Year 1 is the base year, is answer these three subparts
- The following information is available for Cheyenne Corp.: 2022 2021 Accounts receivable $ 373000 $ 346000 Inventory 287000 357000 Net credit sales 2911950 2621000 Cost of goods sold 1804000 861000 Net income 309000 176000 The accounts receivable turnover for 2022 is If Year 1 cost of goods sold equals $760, Year 2 cost of goods sold equals $820, and Year 3 cost of goods sold equals $580, the percentage to be assigned for Year 1 in a trend analysis, assuming that Year 1 is the base year, is If Year 1 sales equal $750, Year 2 sales equal $1500, and Year 3 sales equal $930, the percentage to be assigned for Year 2 in a trend analysis, assuming that Year 1 is the base year, is38 BB Corp.’s accounts receivable subsidiary ledger shows the following information: Customer Account BalanceDecember 31, 2022 Sales Invoices Date Amount Pray Inc. P 35,180 12/6/2022 P 14,000 11/29/2022 21,180 Patience Co. 20,920 9/27/2022 12,000 8/20/2022 8,920 Love Corp. 30,600 12/8/2022 20,000 10/25/2022 10,600 Happy Co. 45,140 11/17/2022 23,140 10/9/2022 22,000 Kindness Corp. 31,600 12/12/2022 19,200 12/2/2022 12,400 Gentleness Inc. 17,400 9/12/2022 17,400 The estimated bad debts rates below are based on BB’s receivable collection experience. Age of Accounts Rate 0 -30 days 1.00% 31- 60 days 1.50% 61-90 days 3.00% 91 - 120 days 10.00% over 120 days 50.00% The allowance for bad debts had beginning balance of P6,500. Statement 1: The net realizable value of the accounts receivable at December 31, 2022 is P165,170. Statement 2:…Active Fast Berhad has the following income statement items for 2021: Revenue/Sales RM559,236 Cost of goods sold RM311,003 EBIT RM248,233 Interest expenses RM93,938 Income tax expenses RM54,003 Dividend payment 40% of net profit What is the amount of the firm's retained earnings? Select one: a. RM163,438 b. RM60,175 c. RM40,117 d. RM148,910
- the sales ledger and purchase ledger junta ltd as at 31 may 2020. purchase ledger balances as 1 june 2020 $19,420sales ledger balance as 1 june 2020 $28,227purchase journal $210,416sales journal $305,824returns outwards $1,452returns inwards $3,618cheques paid to suppliers $205,751cash paid to supplier $62cheques ans cash received from customers $287,317discount allowed $4,102discount received $1,721contras against purchase ledger $640 1) Sales ledger control2)Puchase ledger control47. 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…17. 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 2020…
- Key figures for Samsung follow (in ₩ millions). Cash and equivalents ₩ 30,545,130 Accounts receivable, net . 27,695,995 Inventories . 24,983,355 Retained earnings 215,811,200 Cost of sales . ₩129,290,661 Revenues 239,575,376 Total assets 301,752,090 Required 1. Compute common-size percents for Samsung using the data provided. Round percents to one decimal. 2. What is Samsung’s gross margin ratio on sales? 3. Does Samsung’s gross margin ratio outperform or underperform the industry (assumed) average of 25%?Calculate net profit Details Debit(OMR) Credit(OMR) General expenses 11700 Prepaid Rent 5100 Cost of goods sold 99700 Salaries 9300 Depreciation 1560 Account Payable 3575 Net Sales 150000 Other income 2500 Select one: a. OMR 34715 b. OMR 30240 c. OMR 39815 d. OMR 31140Net 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