Q. How many employees if sales per employee are $6,500?
Q: Problem 11-3 Twin City Enterprises had the following information available for the payroll of May…
A: Payroll taxes: The tax obligations imposed on the payroll remuneration earned by an employee while…
Q: Analyze the following summary. Ignore HST. Complete the chart. Required Accounting Entry Nature of…
A: Entries are used to maintain track of the financial transactions. To generate a journal entry, you…
Q: QUESTION 2 Itemized deductions are an add back for AMT purposes O True False
A: Solution Itemized deduction is the expense which is substracted from adjusted gross income in order…
Q: Which of the following statements is correcT? Multple Cholce An endorsement is a written…
A: Endorsement means transfer of check to another person . The person who is transfer the check will…
Q: Problem 6 Epoch Record Company is negotiating with two banks for a P100,000 loan. Trust Bank…
A: Effective Rate of Interest- After taking into account the compounding element, the effective rate of…
Q: Consider a firm with a forward-looking P/E ratio of 4, a discount rate R=10% and ROE=5%. Suppose the…
A: The following are the required formulas to calculate the plow back ratio (b):- Plowback Ratio (b)…
Q: On January 02, 2019, the business assets and liabilities of Gail Anne & Precious were as…
A: Capital = Assets-Liabilities
Q: What 27
A: 27. The time value of money is the concept widely used by the management to determine the correct…
Q: ther with a remittance puld Northup recogniz®
A: In consignment sales the consignor provides goods to the consignee to sell. The unsold goods are…
Q: Flowers Plc. owns a building that was acquired for £120, 000 on 1st July 2019. The year-end is on…
A: Formula: Straight line method depreciation: = ( Asset cost - salvage value ) / useful life
Q: Credit termog 1/10, n/30 means
A: A discount provided by the seller to the buyer on the purchase of the goods and services by reducing…
Q: Gross profit method - GPR based on sales - - On Nov. 29, 20x1, a meteorite struck the warehouse of…
A: Inventory means the goods in which business deals. Inventory can be calculated by preparing the…
Q: LAMPERT ROOFING Worksheet For the Month Ended March 31, 2022 Account Titles Trial…
A: "Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: Using the declining-balance method, complete the table as shown (twice the straight-line rate):…
A: Depreciation: Depreciation means the reduction in the value of an asset over the life of the assets…
Q: Ledger Name Debit Balance Credit Balance Motor Car $500,000 $50,000 $450,000 $5,500,000 $250,000…
A: Financial Statements - Every company has financial statement. These are important from the investor,…
Q: Love and Faith have been operating an accounting firm as partners for a number of years and at the…
A: Solution Partnership is an agreement between two or more persons who are agree to share the profits…
Q: orrection of Errors Grace’s trial balance did not balance, the debits exceeded the credits by $1…
A: There are various errors that take place while recording, posting, and balancing accounts. These…
Q: Explain the following of the section 34 of act 152, on partnership law.
A: section 34 of act 152, on partnership law. Sec. 34-152. Sharing of profits and losses
Q: Use these factors to answer the following questions. i PV$1 FV$1 PVA FVA 3 8% 0.79383 1.25971 2.5771…
A: In case of multiple questions, we are allowed to answer only the first question. If you want other…
Q: Determine how much of the distribution is taxed as dividend income and how much is a return of…
A: Earnings & Profits: Earnings and profits are bookkeeping terms pertinent to investors in…
Q: my current selections are incorrect together. please help! Partner Jackson receives a distribution…
A: In this question, I will explain that all the true statements and also give reason that why above…
Q: [The following information applies to the questions displayed below.] In 2021, Elaine paid $2,800 of…
A: American Opportunity Tax Credit: The American Opportunity Tax Credit (AOTC) is a tax credit that…
Q: You want a new car. At the dealership, you find a car that you like. The dealership gives you two…
A: Present Value of Annuity = P x [1 - {1 / (1 + r)^n}] / r Here, P = Periodic Annuity Payment i.e.…
Q: the budget of a project is $1 million. The actual cost for work performed is currently $700k. The…
A: Scheduled performance index (SPI) and Cost Performance Index (CPI) are two kind of project…
Q: A company provides each of its directors with a car. It has purchased these at £35,000 each. After 4…
A: Depreciation is the amount of expense which shows the decrease in the value of asset over time by…
Q: SkyChefs, Incorporated, prepares in-flight meals for a number of major airlines. One of the…
A: Labor spending variance = Standard Labor cost - Actual Labor cost Labor rate variance = (standard…
Q: Required information [The following information applies to the questions displayed below.] Trey has…
A: Given: The following table is given in the question: Filing Status Phase-out Threshold Married…
Q: otal assets of the Company are $81000 and its owner's equity is $61000. What is the amount of it
A: Liabilities = Assets - Owner's equity
Q: Through the effects of financial leverage, when EBIT decreases, earnings per share will
A: EBIT(Earnings before interest and taxes) is a measurement of a company's profitability directly…
Q: Bonakid Inc. has decided to invest P10,000,000 in a new headquarters and needs to determine the best…
A: Calculation of Degree of Financial Leverage Degree of Financial Leverage = Earnings before interest…
Q: 1.Tracey Sullivan begins business on May 1, 20-, with the following assets and liabilities: Cash, $5…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: Solar Co. sold a machine in exchange for a P00.000, 4-year, 5% note, interest is payable annually.…
A: The question is based on the concept of Financial Management.
Q: the company marks up its manufacturing costs by 10% then the selling price for Job A319 would be…
A: Calculation of overhead rates Fixed manufacturing overhead rate (Milling department) = Fixed…
Q: An asset is purchased for $90,000. It is expected to have a useful life of six years and a salvage…
A: Solution... Cost of asset = $900,000 Salvage value = $18,000 Life = 6 years
Q: 5. Aircon, Inc. consigned ten one-horsepower air conditioning units to Argy Trading and paid P2,000…
A:
Q: On December 31, 2016, after closing, the ledgers of Premium Company contained these accounts and…
A: Formulas for the requirements are as follows:- Total Manufacturing Cost = Direct Material +Direct…
Q: The following items are taken from the financial statements of One Headlight Company for 2021:…
A: The income statement is one of the financial statements of the business which tells about the…
Q: Alaskan Frontier provides rail and bus tours c finance operations. The bonds are due in 20 y year.
A: Bonds are priced by discounting future cash flows. Future cash flows include coupons and par value…
Q: Journalize the transactions shown below in the two-column general journal that follows. Calculate…
A: Answer:
Q: 19. $ How much are the current assets? 20. $ How much are the total assets? 21. $ How much are the…
A: Answer:
Q: accounting cycle is the preparation of the financial
A: There are 8 step in accounting cycle. (1) Identify the transaction i.e Economic transaction or not…
Q: ABC Company started its business operations on November 2, 2021. The following were the transactions…
A: The question is related to the calculation of owner's capital balance at the end of its first…
Q: The amount to be invested by Nicole is
A: Balance Sheet of Nicole Business Liabilities Amount Assets Amount Capital 350000…
Q: nterest Payable 3,200 Accounts Payable 140,800 Accrued Salaries Expense 35,000 Accrued Interest…
A: Solution A liability is the the amount that is owed by the company not owned. These includes…
Q: Q.No. 2 Abuhatim LLC has given the following particulars. You are required to prepare a cash budget…
A: cash budget: The cash budget refers to the projection of cash movement of a business over a specific…
Q: 1.Tracey Sullivan begins business on May 1, 20-, with the following assets and liabilities: Cash, $5…
A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…
Q: Using the following balance sheet and income statement data, what is the debt to assets ratio?…
A: Formula: Debt to Assets ratio = ( Total liabilities / Total Assets ) x 100
Q: Using the following balance sheet and income statement data, what is the debt to assets ratio?…
A: Lets understand the basics. Debt equity ratio indicates that, how much much debt is there in compare…
Q: Viktor Hovland purchases land with natural gas reserves for $500,000. He expects to extract 2,000…
A:
Q: An asset is purchased for $90,000. It is expected to have a useful life of six years and a salvage…
A: Introduction: Depreciation: Decreasing value of fixed Assets over its useful life period called as…
Step by step
Solved in 2 steps
- •COGS = $390,000 •GM = 56% •Store size: 20 ft x 25 ft. •2,500 transactions •5,000 units sold •Salaries 88,636 •Occupancy is $107,250 Q. what is the salary %?Viper Construction’s days sales outstanding is 50 days (on a 365-day basis). The company’s accounts receivable equal $100 million and its balance sheet shows inventory equal to $125 million. How much is the Annual Sales? A. Php 400,000,000B. Php 100,000,000C. Php 182,500,000D. Php 136,986,301E. Php 730,000,000Sales (75,000units) P 750,000 Variable costs 225,000 Contribution margin P 525, 000 Fixed manufacturing costs 187,500 Operating income P 337,000 Interest 75,000 Earnings before taxes P 262,500 Taxes (at 31%) 81,375 Net income P 181,125 Shares outstanding…
- Division D of Saunders Company has sales of $350,000, cost of goods sold of $120,000, operating expenses of $58,000, and invested assets of $150,000. The profit margin for Division D is a. 49.1% b. 42.9% c. 83.4% d. 65.7%Sales (30,000units) P 150,000 Variable costs 100,800 Contribution margin P 49, 200 Fixed manufacturing costs 24,000 Operating income P 25,200 Interest 18,000 Earnings before taxes P 7,200 Taxes (at 31%) 2,160 Net income P 5,040 Shares outstanding 600 The firms break-even point is a.…Sales revenue (2,000 units * $50 per unit) $100,000 Cost of goods sold: Variable (2,000 units * $15 per unit) (30,000) Fixed (11,000) Gross Margin 59,000 Administrative Salaries (20,000) Sales office Depreciation (9,000) Sales supplies (2,000 units *$5 per unit) (10,000) Net Income $20,000 Using the income statement above, if sales increased by 10%, (1) What percent will net income increase? (2) How much will the new net income be?
- Graphite Corporation Sale Price per unit is $174Variable cost is 40% of salesNet Income is $23,100 The company currently sells 500 units per month. The sales manager for the company suggests spending an additional $10,000 in advertising will raise sales to 610 units. Will this increase net income? If so, by how much?Du Pont Analysis TRP has total receiveables of $3,000, which represents 20 days sales. Total assets are $75,000. The operating profit margin is 5%. Find the firms ROA and its assets turnover ratio.Sale price per unit is $174Variable cost is 40% of salesNet income is $23,100 Company sells 500 units per month How many units would the company have to sell to obtain a target profit of $21,000?
- 1. The ordering costs related to a product are P12.50 per order. The cost of carrying one item of inventory for one year is P16. The business sells 40,000 units of the product evenly throughout the year. At EOQ, total ordering costs per year and total carrying costs per year, respectively, must be? 2. Data for Magaling Co.’s material X are as follows; annual usage : 12,600 units; Working days per year : 360 days normal lead time 20 days. The units of Material X are required evenly throughout the year. What is the reorder point?2155 Lake Sales had $2,300,000 in sales last month. The contribution margin ratio was 40% and operating profits were $180,000. What sales volume does Lake's need to yield a $370,000 operating profit?Provisions Company, a manufacturer of office supplies, provides the following financial information: Pen Division Pencil Division Operating income $100,000 $40,000 Net sales $500,000 $150,000 Total assets at Jan. 1 $580,000 $350,000 Total assets at Dec. 31 $610,000 $300,000 Calculate the return on investment for the Pen Division. (Round your answer to two decimal places.)