In the table below there are missing figures. GHC GHC GHC GHC Opening inventory Closing inventory Purchases 1,000 (1,200) 5,000 8,000 (d) (f) (i) (m) 2,000 (1,500) 8,700 15,000 (е) (g) (j) 1,000 (500) (b) (c) 8,000 (h) (k) 25% (а) (2,000) 15,000 20,000 Sales Cost of sales (vi) 5,000 (1) Gross profit Gross profit as a percentage of sales Gross profit as a percentage of cost What is the value of (a) in the table? (n) 33.3%

In the table below there are missing figures. GHC GHC GHC GHC Opening inventory Closing inventory Purchases 1,000 (1,200) 5,000 8,000 (d) (f) (i) (m) 2,000 (1,500) 8,700 15,000 (е) (g) (j) 1,000 (500) (b) (c) 8,000 (h) (k) 25% (а) (2,000) 15,000 20,000 Sales Cost of sales (vi) 5,000 (1) Gross profit Gross profit as a percentage of sales Gross profit as a percentage of cost What is the value of (a) in the table? (n) 33.3%

Name: In the table below there are missing figures.GHCGHCGHCGHCOpening inve
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Description: In the table below there are missing figures.GHCGHCGHCGHCOpening inventoryClosing inventoryPurchases1,000(1,200)5,0008,000(d)(f)(i)(m)2,000(1,500)8,70015,000(е)(g)(j)1,000(500)(b)(c)8,000(h)(k)25%(а)(2,000)15,00020,000SalesCost of sales(vi)5,000(1)G

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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At what figure should the inventory be valued? *a. P 880,000b. P 760,000c. P 980,000d. P 940,000
How much is the total inventory to be reported in the statement of financial position? A. 870,000 B. 866,000 C. 926,000 D. 930,000
XYZ’s balance sheet and income statement are given below:Balance SheetCash 50 Accounts payable 100A/R 150 Notes payable -Inventories 300 Long-term debt (10%) 700Fixed assets 500 Common equity (20 shares) 200Total assets 1,000 Total liabilities and equity 1,000Income StatementSales 1,000Cost of goods sold 855EBIT 145Interest 70EBT 75Taxes (33.33%) 25Net income 50The industry average inventory turnover is 5, the interest rate on the firm’s long-term debt is 10percent, 20 shares are outstanding, and the stock sells at a P/E of 8.0. If XYZ changed its inventorymethods so as to operate at the industry average inventory turnover, if it used the funds generated bythis change to buy back common stock at the current market price and thus to reduce common equity,and if sales, the cost of goods sold, and the P/E ratio remained constant, by what dollar amount wouldits stock price increase?
In 2022, matapat A. CO reported net inxom of P18,000. The correct net income was 25,000. It was determined tharvthe ending inventory was overstated by P3,000 while the purchases was understated by P1,000. The only other error was with the beginning inventort which would be a. 11,000 over b.5,000 over c. 9,000 under d.3,0000 under
How 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…
The estimated inventory amount is: A. P720,000 B. P600,000 C. P784,000 D. P840,000 E. P550,000
ABC Company's accounting records reported the followingaccount balances as of December 31, 2028:Inventory ................... $59,000Trademark ................... $16,000Interest revenue ............ $21,000Accounts receivable ......... $44,000Cost of goods sold .......... $30,000Utilities expense ........... $29,000Salaries payable ............ $14,000Accumulated depreciation .... $37,000Land ........................ ?Dividends ................... $ 9,000Notes payable ............... $48,000Common stock ................ ?Rental revenue .............. $35,000Supplies .................... $23,000Income tax expense .......... $18,000Retained earnings ........... $57,000 (at Jan. 1, 2028)Sales revenue ............... $99,000Equipment ................... $74,000Copyright ................... $38,000Accounts payable ............ $41,000Salaries expense ............ $27,000Cash ........................ $19,000Additional information:The total equity at December 31, 2028 was $196,000.Calculate…
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 P550,000 P585,000Property and Other…
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 P550,000 P585,000Property and Other…
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 P550,000 P585,000Property and Other…
Below is an extract from Aluki Ltd.'s statement of financial position: Total current assets £40,000 Total current liabilities £20,000 If the company’s current ratio is 2:1 and its quick test (or acid ratio) is 1:1, what must the value of inventory be? a) £20,000 b) £40,000 c) £60,000 d) £30,000
How much is the ending inventory of the branch to be included in the combined financial statements? a. 1,250,000 b. 800,000 c. 1,000,000 d. 8333,333