MCQ question Guardian Angel Sdn. Bhd. earned RM33,325 on Monday, RM71,987 on Tuesday, RM96,454 on Wednesday, RM41,784 on Thursday, RM68,267 on Friday, RM54,507 on Saturday, and RM73,414 on Sunday. Estimate the total earnings for the week using front-end. A. RM400,000 B. RM430,000 C. RM439,000 D. RM439,738

MCQ question Guardian Angel Sdn. Bhd. earned RM33,325 on Monday, RM71,987 on Tuesday, RM96,454 on Wednesday, RM41,784 on Thursday, RM68,267 on Friday, RM54,507 on Saturday, and RM73,414 on Sunday. Estimate the total earnings for the week using front-end. A. RM400,000 B. RM430,000 C. RM439,000 D. RM439,738

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter2: Analyzing Transactions

Section: Chapter Questions

Problem 4MAD: Analyze Target The following data (in millions) are taken from the financial statements of Target...

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Analyze Target The following data (in millions) are taken from the financial statements of Target Corporation (TGT), the owner of Target stores: a. For Target, determine the amount of change in millions and the percent of change rounded to one decimal place from Year 1 to Year 2 for: 1. Revenue 2. Operating expenses 3. Operating income b. What conclusions can you draw from your analysis of the revenue and total operating expenses?
ASAP!! ANSWER The following is the trial balance of Shah Latif & Co. on March 31, 2011Cash Rs. 20,000 Accounts Payable Rs. 30,000Accounts Receivable Rs. 50,000 Salaries Payable Rs. 15,000Merchandise inventory Rs. 60,000 Bank loan Rs. 25,000Equipment Rs. 40,000 Capital Rs. 100,000The following transactions were performed during first fortnight of April:Apr 05 Paid outstanding salaries06 Collected 1/2 of accounts receivable.07 Sold merchandise for cash Rs.20,000 and on account Rs.30,00010 Paid 1/3 of the accounts payable.14 Made additional investment depositing cash into the bank Rs.25,000.Requireda. Prepare the ledgers with opening balances on April 01. b. Prepare Trial balance
Q4] Deewali advance given to an employee is a) Revenue Expenditure b) Capital Expenditure e) Deferred Revenue Expenditure d) Notan Expenditure Q5] A firm has reported a profit of Rs.1,47,000 for the year ended 31-3-2014 after takinginto consideration the following items. (1) The cost of an asset Rs.23.000 has been taken as an expense(ii) The firm anticipated a profit of Rs.12.000 on the sale of an old furniture (iii) Salary of Rs.7.000 outstanding for the year has not been taken into account. (iv) An asset of Rs.85,000 was purchased for Rs.75.000 and was recorded in the books atRs.85,000. What is the correct amount of profit to be reported in the books?a)Rs.1,47,000 b) Rs. 1,51,000 c) Rs. 1,63,000 d) Rs. 1,41,000 Q6] The process of recording financial data upto trial balance is a) Book keeping b) Classifying c) Summarising d) Analyzing
Q3) A. The following information has been taken from the accounting records of Ahmed and Company in first and second period. Period Sales Profit 2019 $ 100,000 $15,000 2020 150,000 25,000 Calculate: 1) Sales required to earn a profit of $25,000 2) Profit when sales are $200,000
elow.1. Here is another sample of business transactions for Kuya Jimin’s Auto Shop for February 2021. The business: Cash, Php 30,000; Prepaid Rent, Php5,000; Equipment, Php5,000, Supplies Php 3,000.00 and Accounts Payable Php7,000. By the end of the month, Berting's had earned Php50, 000 of Service Income, Php 1,500 of Utility Expenses and Php 6,500 of Salaries Expense and P 1,500 for Rent Expense. How much is the net income of the Kuya Jimin?
Servicing business using non-conventional reporting of income has P600,000 service revenue. The cost of service is 80% of service revenue and the operating expenses is 25% of gross income. What is the operating income? a. P 90,000 b. P 96,000 c. P100,000 d. P100,800
Q4: Prepare Income Statement and Balance Sheet from the following Trial Balance of Abc Company Trial Balance on 30 September 2020 Debit Credit Owners capital 125,000Drawings - owners25,000 Purchases160,000 Wages 30,000 Opening inventories25,000 Travelling expenses5,000 Plant and machinery 105,000 Furniture 45,000 Cash and cash equivalents59,000 Accounts receivable 50,000 Accounts payable 33,000Bank loan 50,000Rent expenses6,000 Marketable securities58,000 Purchase returns 12,000Sales returns5,000 Miscellaneous expenses4,000 Stationery expenses8,000 Salary expenses25,000 Sales 365,000Service revenue 17,500 Interest 7,500 Total610,000610,0001. Closing inventory was RO. 30,0002. Salary expenses of RO. 1,500 were outstanding.3. Cash collected for the services to be performed in future periods is RO. 55004. Depreciation rate for Plant & Machinery is 25% per annum and depreciation expenses for Furniture is 10% per annum.
Q3) A. The following information has been taken from the accounting records of Ahmed and Company in first and second period. Period Sales Profit 2019 $ 100,000 $15,000 2020 150,000 25,000 Calculate: 4) Break Even Point in dollars sales 5) Sales required to earn a profit of $25,000 6) Profit when sales are $200,000
Q.No.1 M/s. XYZ Private Limited has a cash balance of PKR 20,000 at the ending of the February and the following information is available: - Creditors are settled in the very next month of purchase. Salaries are paid in the current month. Fixed costs are paid in one-month arrears. Manufacturing expenses are paid in one-month advance. Charge for depreciation is PKR 1,000/month and is included in the Fixed OH. Credit Sales are settled as follows; 10% in the month of sales 40% in the next month 40% in the next following month, and the balance represents bad debts. A dividend of PKR 10,000 is payable in June. Capital expenditure for buying a plant was incurred on 28th February of PKR 50,000. On March 1, we will buy an equipment on lease and its payment will be done in monthly instalments of PKR 5000 each, 1st installment is made in advance on March 1. Month Cash Sales Credit Sales Credit Purchases Cash Purchases Salaries Fixed OH Manufacturing expenses…
If answered within 30mins,it would be appreciable!!! Q3. XYZ Company has the following financial data: Particulars Amounts (SAR) Total Profit for the Year 377,500 General Takaful Assets (Year 2014) 1,390,000 General Takaful Assets (Year 2015) 1,517,500 Cash 11,500 Short-term Investment 23,500 Short term liabilities 85,000 Underwriting Surplus Distributable to Participants/Participants' Share of Profit 145,500 Gross Contribution 958,000 Net Contribution 662,500 Wakalah Fee 77,500 Commission Paid 28,300 Management Expense 58,000 Net Claim Incurred 287,500 Earned Contribution 632,500 You are required to calculate: Return on Assets Quick Liquidity Surplus Distribution Ratio Expense Ratio Claims Ratio This all question nothing more
Q2 The following was extracted from the accounting records of a trader on 28 February 2015: Extracts from the income statement: Total sales 217 750 Cost of sales 124 430 Net profit 54 430 After the capital account had been credited with the above net profit, the balance sheet reflected the following balances: Land and buildings…………………………………………………………218 400Equipment at carrying value.........................................................41 300Capital…………………………………………………………………………314 400Long term loan……………………………………………………………59 200Investment……………………………………………………………………54 600Current assets…………………………………………………………………134 900Creditors control……………………………………………………………75 600Debtors control………………………………………………………………36 400Bank (dr)…………………………………………………………………………33 600 ADDITIONAL INFORMATION: 1. Credit sales represent 60% of total sales.2. Creditors allow 3 months credit.3. Similar industries in South Africa have a stock turnover rate of 3 times per annum. REQUIRED:4.1. Calculate…
Q4. From the following information of XYZ Company, prepare a multi-step income statement For the Year Ended December 31, 2021 Sales $137,460 Sales Returns $2,060 Sales Discounts $5,190 Cost of Goods Sold $62,990 Freight-Out $6,150 Advertising Expense $5,790 Sales Commissions Expense $3,470 Office Salaries Expense $18,510 Office Rent Expense $14,000 Office Supplies Expense $5,330 Gains on Sale Equipment $2,430 Loss on Sales of Investments $1,640 Interest Expense $930