Q.From the following balance extracted from the books of M/s R.k. Gupta ,prepare a Trading , profit & Loss A/c, for the year ending 31.12.2014ParticularAMOUNTParticularAMOUN(€)T(7)Opening StockSalaries1,25011,800750Discount (Dr.)WagesReturn inwardsSales328DepreciationCommission (Cr.)6671,5891,6598, 679211Insurance380PurchasesCarriage inwardFurniture charges300Bad debts180670Printing ChargesCarriage outward481200Return outward1,380

Trading, Profit and Loss account is prepared to calculate the net profit earned or net loss incurred…

Q.From the following balance extracted from the books of M/s R.k. Gupta, prepare a Trading , profit & Loss A/c, for the year ending 31.12.2014 Particular AMOUNT Particular AMOUN (7) T (7) Opening Stock Sales Salaries Discount (Dr.) Wages Return inwards 1,250 11,800 750 328 Depreciation Commission (Cr.) 1,589 1,659 8, 679 667 211 Insurance 380 Purchases Carriage inward Furniture charges 300 Bad debts 180 670 Printing Charges Carriage outward Return outward 481 200 1,380

Q.From the following balance extracted from the books of M/s R.k. Gupta, prepare a Trading , profit & Loss A/c, for the year ending 31.12.2014 Particular AMOUNT Particular AMOUN (7) T (7) Opening Stock Sales Salaries Discount (Dr.) Wages Return inwards 1,250 11,800 750 328 Depreciation Commission (Cr.) 1,589 1,659 8, 679 667 211 Insurance 380 Purchases Carriage inward Furniture charges 300 Bad debts 180 670 Printing Charges Carriage outward Return outward 481 200 1,380

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter1: The Role Of Accounting In Business

Section: Chapter Questions

Problem 1.4.2MBA: Return on assets The following data (in millions) were adapted from recent financial statements of...

See similar textbooks

Similar questions

Profitability metrics The following selected data were taken from the financial statements of The O'Malley Group Inc. for December 31, 20Y5. 20Y4. and 20Y3: No dividends on common stock were declared between 20Y3 and 20Y5. a.Determine the return on total assets, the return on stockholders' equity, and the return on common stockholders' equity Tor the years 20Y4 and 20Y5. Round to one decimal place. b. What conclusions can be drawn from these data as to the company's profitability?
Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $119.70 on December 31, 20Y8 Instructions Ratio of fixed assets to long-term liabilities
Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $119.70 on December 31, 20Y8 Instructions Ratio of liabilities to stockholder.' equity
Income Statement and Retained Earnings Huff Company presents the following items derived from its December 31, 2019, adjusted trial balance: The following information is also available for 2019 and is not reflected in the preceding accounts: 1. The common stock has been outstanding all year. A cash dividend of 1.28 per share was declared and paid. 2. Land was sold at a pretax gain of 6,300. 3. Division X (a major component of the company) was sold at a pretax gain of 4,700. It had incurred a 9,500 pretax operating loss during 2019. 4. A tornado, which is an unusual event in the area, caused a 5,400 pretax loss. 5. The income tax rate on all items of income is 30%. 6. The average shareholders equity is 90,000. Required: 1. Prepare a 2019 multiple-step income statement for Huff. 2. Prepare a 2019 retained earnings statement. 3. Compute the 2019 return on common equity (Net Income 4 Average Shareholders Equity).
Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $119.70 on December 31, 20Y8 Instructions Days’ sale in receivable
Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $119.70 on December 31, 20Y8 Instructions Return on stockholders’ equity
Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $119.70 on December 31, 20Y8 Instructions Return on common stockholders’ equity
Return on assets The following data (in millions) were adapted from recent financial statements of Tootsie Roll Industries Inc. (TR): The percent a company adds to its cost of sales to determine selling price is called a markup. What is Tootsie Roll’s markup percent? Round to one decimal place.
Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $119.70 on December 31, 20Y8 Instructions Earnings per share on common stock
Measures of liquidity, solvency, and profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was 82.60 on December 31, 20Y2. Instructions Determine the following measures for 20Y2 (round to one decimal place, including percentages, except for per-share amounts): 1. Working capital 2. Current ratio 3. Quick ratio 4. Accounts receivable turnover 5. Number of days sales in receivables 6. Inventory turnover 7. Number of days sales in inventory 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders equity 10. Times interest earned 11. Asset turnover 12. Return on total assets 13. Return on stockholders equity 14. Return on common stockholders equity 15. Earnings per share on common stock 16. Price-earnings ratio 17. Dividends per share of common stock 18. Dividend yield