RM'000 Operating profit 43-7 Sales revenue 910-4 Share capital and reserves 182:3 Long-term borrowing 77-9 Inventory 46-2 Receivables 97-8 Payables 51-3 Calculate the following:
Q: prepare the T-accounts for Retained Earnigs and income Summary adjust the trial balance for moxie…
A: Net income is the excess of revenues over expenses after tax and interest expense.
Q: As of December 31, 2022, 380 lots were sold and the market value of each lot had increased to…
A: Answer:- Investment property definition:- A investment property can be defined as a real estate…
Q: Whirly Corporation's contribution format income statement for the most recent month is shown below:…
A: Revised net operating income: = Existing net operating income + (increase in sales volume *…
Q: Kansas Enterprises purchased equipment for $74,500 on January 1, 2021. The equipment is expected to…
A: Introduction:- The following formula used to calculate Straight-line method depreciation as…
Q: Question 12: State income tax withholding calculations differ from one state to another. Answer: A.…
A: Withholding tax seems to be a sum withdrawn effectively from an employee's wages and paid to the…
Q: for A and use LCNR
A: Given as, Particulars At cost At retail Sales 100,000…
Q: Agency A receives a Notice of Cash Allocation from the DBM of 10,000,000.00 for the second quarter…
A: Journal entry recording is the initial step of accounting cycle process. Under this, atleast one…
Q: Why must the eliminating entries be entered in the consolidation worksheet each time consolidated…
A: 1. Elimination is used to delete a partnership in another partnership, whether from a parent to a…
Q: Journalize the following transaction for Tesco Company during the month of May 2017. May 1st,…
A: Date Account Debit Credit 2017-05-01 Purchases from Other Related Parties…
Q: a. Journalize the entry to record the factory labor costs. If an amount box does not require an…
A: Job Order cost Application of Labor cost and Overhead cost Journal Entry to record labor cost and…
Q: 2) Troy Ltd purchased a new machine on 1 October 2016 at a cost of $114,000. The entity estimated…
A: Formula: Straight line method depreciation = ( Asset cost - Salvage value ) / useful life
Q: Burger Chef acquired a delivery truck on March 1, 2021, for $31,600. The company estimates a…
A: Formula: Depreciation per mile = ( Asset cost - Salvage value ) / Estimated miles
Q: Oriole Corporation has 74,000 shares of common stock outstanding It declares a $2 per share cash…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: 9. Using the facts in Problem #7, please do the journal entry for your company selling 250 items of…
A: As payment is made within dsicount period hence 1% discount will be provided.
Q: mala works full time and receives Health and Dental from her employer. tof the health and dental is…
A: The employers provide the employees the health and other related benefits but some portion is to be…
Q: QUESTION 1 Uber lec purchased a car for $43100. The car has a salvage value of $2000 and is…
A: Assets consists of all type of resources being held by the business. These may be current assets or…
Q: Caribbean Kayaks (CK) Maritza (which means "star of the sea") Joseph is preparing the 2022 budget…
A:
Q: The net income of Monarch Skate Inc. amounted to $3,750,000 for the year ended December 31, 2020.…
A: Earning per share = Net income/ Weighted avearge no of outstanding share
Q: Given the following: Number Cost per unit $ 4 purchased Total January 1 inventory April 1 40 2$ 160…
A: Answer a. Calculation of cost of ending inventory using LIFO: Ending inventory is 61 units, it means…
Q: 00 153,000 213,000
A: Given as, Total Dirt Bikes Mountain Bikes Racing Bikes Sales $ 924,000 $ 265,000 $ 409,000…
Q: The cost of a manufacturing firm are as follows: $ Raw materials purchased 5,000 Direct…
A: Prime cost comprises of all the direct costs such as direct materials, and direct labor cost.
Q: A loan of P15 000 is taken out. If the interest rate on the loan is 7%, how much interest is due…
A: Notes Payable - Notes Payable is the liability for the company which needs to be paid after a fixed…
Q: what is the company's cash flows from operating activities?
A: Cash Flow from operating activities: Means amount of money a company brings in from it regular…
Q: Burger Chef acquired a delivery truck on March 1, 2021, for $31,600. The company estimates a…
A: Formula: Depreciation rate per unit = ( Truck cost - Salvage value ) / Estimated miles
Q: Spirit Corporation reported the following payroll-related costs for the month of February. Gross pay…
A: Payroll- Payroll is the procedure for paying a company's employees. This procedure entails…
Q: Calculate the maximum depreciation expense including §179 expensing (but ignoring bonus…
A: Mar-22 Amount in $ Cost 2,362,000.00 Useful life in years 7 Already expensed…
Q: Discuss the following characteristics of reliable evidence using your own examples…
A: Reliable Audit Evidence: The trustworthiness of evidence is determined by the type and source of the…
Q: Give an example of a system development life cycle flow chart?
A: The SDLC, or system development life cycle, seems to be fundamentally a project management paradigm.…
Q: Javier and Anita Sanchez purchased a home on January 1, 2021, for $600,000 by paying $200,000 down…
A: Rental payment are not deductible expenses in tax.Therefore,there will be no tax saving due to…
Q: A company reports the following amounts at the end of the year: Total sales revenue = $560,000;…
A: Formula: Net revenues = Total sales revenue - sales discounts - sales returns - sales allowance
Q: ey share profit h will buy 1/5
A: Introduction The sacrifice is deducted from the old profit sharing ratio of partners to find the…
Q: Using the MACRS rates from the following table, what is the book value of a $2,500 computer after 5…
A: Book Value of Asset: Book value is equivalent to the cost of holding an asset on a company's balance…
Q: Burger Chef acquired a delivery truck on March 1, 2021, for $31,600. The company estimates a…
A: Formula: Depreciation per mile = ( Asset cost - Salvage value ) / Estimated miles
Q: Colson Company has a line of credit with Federal Bank: Colson can borrow up to $315,500 at any time…
A: The question is related to the Interest amount to be paid each month on the borrowed amount of…
Q: Jason and Kidd are partners who share profits and losses in the ratio of 3:1, respectively. On…
A: It is a form of business in which two or more people agree to share profit and loss in agreed ratio…
Q: Firm A has $9,100 in assets entirely financed with equity. Firm B also has $9,100 in assets, but…
A: EBIT Means Earnings before interest and Taxes 1) FIRM A FIRM B Sales 33,000…
Q: Appendix: EOQ Diane Delbert operates a health food bakery that uses a special type of ground flour…
A: EOQ - 2 x annual demand x order cost/ carrying cost Appropriate order point = Average daily usage x…
Q: mall business ate colleges tune 500 companies lic education institutions and certain tax-exempt…
A: The companies provide the pensions plans to the employee on retirement to make their life happy and…
Q: On September 1, 2021, Allied Moving Corp. borrows $90,000 cash from First National Bank. Allied…
A: Lets understand the basics. Journal entry is required to make to record an event or transaction that…
Q: Required: (a) Calculate Direct materials price and quantity variances. (b) Calculate Direct labour…
A: Introduction : The discrepancy between the standard cost of materials generated from production…
Q: At December 31, 2022 the following information (in thousands) was available for Swifty Inc: ending…
A: Formula: Inventory turnover = Cost of goods sold / Average inventory.
Q: You are considering acquiring a firm that you believe can generate expected free cash flows of…
A: Answer) Calculation of Value of Firm if Beta is 0.40 Value of firm = Expected Annual frees cash…
Q: The following are the balance sheets of Kings paper works Ltd. For the two years at 31st December…
A: Cash from operations Inventory - 26250 $ Debtors + 500$ Tax -3000$ CFO 28750…
Q: HE Ltd is a company incorporated in SG and prepares its financial accounts based on the Singapore…
A: Original Carrying amount that would have been there as at 1st Jan 20X4 if no revaluation has been…
Q: ch of the following is not correct relative to an appropriation of Retained Earnings? a. Retaine
A: The amount of profit after paying all the costs incomes taxes and dividends to shareholders is known…
Q: CUMULATIVE NPV: (1,145,712) (721,091) (283,993) 166,026 629,4 RETURN ON INVESTMENT: 24.44%…
A: Needs to understand calculation of Return on Investment and Beak Even Point
Q: -), price lowe inus - or plu се
A: Here, x be the age for property, y be the age for comp.
Q: For February, sales revenue is $596,000, sales commissions are 7% of sales, the sales manager's…
A: The selling expenses are the operating expenses including sales commission, sales manager salary,…
Q: following estimated expenditures: P1,000,000 at the end of 2001 P1,200,000 at the end of 2002…
A: Sinking fund is required for the fund to be accumulated over the period of time considering the…
Q: The peso equity in corporate capital for each share capital owned by a shareholder is known as?…
A: Share capital is the amount which is contributed and invested by the owner's. This represents the…
Learn your way
Includes step-by-step video
Step by step
Solved in 2 steps
- Income Statement for Year Ended December 31, 2018 (Millions of Dollars) Net sales 795.0 Cost of goods sold 660.0 Gross profit 135.0 Selling expenses 73.5 EBITDA 61.5 Depreciation expenses 12.0 Earnings before interest and taxes (EBIT) 49.5 Interest expenses 4.5 Earnings before taxes (EBT) 45.0 Taxes (40%) 18.0 Net income 27.0 a. Calculate the ratios you think would be useful in this analysis. b. Construct a DuPont equation, and compare the companys ratios to the industry average ratios. c. Do the balance-sheet accounts or the income statement figures seem to be primarily responsible for the low profits? d. Which specific accounts seem to be most out of line relative to other firms in the industry? e. If the firm had a pronounced seasonal sales pattern or if it grew rapidly during the year, how might that affect the validity of your ratio analysis? How might you correct for such potential problems?Profitability ratios The following selected data were taken from the financial statements of Robinson Inc. for December 31, 2016, 2015 and 2014: December31 2016 2015 2014 Total assets......................................... 4,800,000 4,400,000 4,000,000 Notes payable (8% interest)........................... 2,250,000 2,250,000 2,250,000 Common stock...................................... 250,000 250,000 250,000 Preferred 4% stock, 100 par (no change during year)........................... 500,000 500,000 500,000 Retained earnings................................... 1,574,000 1,222,000 750,000 The 2016 net income was 372,000, and the 2015 net income was 492,000. No dividends on common stock were declared between 2014 and 2016. a. Determine the rate earned on total assets, the rate earned on stockholders equity, and the rate earned on common Stockholders equity for the years 2015 and 2016. Round to one decimal place. b. What conclusions can be drawn from these data as to the companys profitability?Q. Calculate the current assets and current liabilities from the data given below. Current ratio. 1.8 Quick ratio. 1.2 Inventory turnover ( on c.g.s). 12 Gross profit rate. 25% Credit period. 1month Working capital. 640000
- 2019: Profit Margin – Profit $1435 / Net Sales $38,464 = 0.037:1 OR 3.7% Working Capital – Current Assets $3406 - Current Liabilities $4291 = -885 Current Ratio – Current Assets $3406 / Current Liabilities $4291 = 0.79:1 OR $0.79 Current Cash Debt Coverage – Net Cash Provided by Operation Activities $2275 / Average Current Liabilities $8781.50 = 0.26:1 OR 0.26 Average Current Liabilities Calculation: 4291 + 8981 / 2 = 8781.50 Debt to Total Assets Ratio – Total Liabilities 4291 + 2129 = 6420 / Total Assets 3406 + 6371 = 9777 = 0.66:1 OR 0.66 Cash Debt Coverage – Net Cash Provided by Operation Activities $2275 / Average Total Liabilities 11,067.25 = 0.21:1 OR 0.21 Average Total Liabilities Calculation: 6420 + 9295 / 2 = 11,067.25 Return on Assets – Profit 1435 / Average Total Assets 11,160.50 = 0.128:1 OR 12.8% Average Total Assets Calculation: 9777 + 12544 / 2 = 11,160.50 2020: Profit Margin – Profit $978 / Net Sales $37,784 = 0.025:1 OR 2.5% Working Capital – Current Assets $3779 -…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***********Delta GMBH’s ROE is 8.9 percent. Sales are $2,956,000.00. Total debt ratio is 0.3743. Total debt is $964,000.00. Determine the return on assets (ROA).
- ACCOUNTING ASAP Assume the following data: EBIT = 100; Depreciation = 40; Interest = 20; Dividends = 10. Calculate the cash coverage ratio. Select one: a. 7.0x b. 4.7x c. 14.0x d. 5.0xSelected ratios formulars Unilever 2021 BOPP 2021 ROCE PBIT / net assets * 100 (32,424/39,406 *100 = - 82% 102,154 / 192,758 *100 =53% Net Assets Turnover Revenue / Net Assets 526,912 / 39,406 = 13 times 214,174 / 192,758 = 1 time Gross Profit Margin Gross profit / revenue *100 97,046 / 526,912 *100 18.4% 115,462 / 214,174 * 100 54% Net Profit Before Tax PBT / revenue * 100 (35,005) / 526,912* 100 = -6.6% 104,778 / 214,174* 100 =48.9% Current Ratio Current assets / current liabilities 214,665/341,171 = 0.5 139,104 / 30,368 = 4.5 Quick Ratio Current assets – inventory / current liabilities 214,665-91,627 /341,171 = 0.4 139,104 -13,248/ 30,368 = 4.1 Inventory Days Inventory / cost of sales * 365 days 91,627/ 429,866 *365 = 77 days 13,248 / 101,397 *365 = 47 days Receivable Days Receivables / cost of sales * 365 days 24,515 / 429,866 *365 =20 days 92,860 / 101,397 *365 =334 days Payable Days…Credit Rop = 15,00,000/-; Cash Rop is 25% of Rop; liquid asset 2,00,000/-; Inventory1,00,000/-; Current liability 1,20,000/-; Working capital turnover ratio will be
- Given : Total Assets :120.000,Long Term Liabilities : 20.000,Current Assets :80.000, and,Current Liabilities : 60.000Net Profits : 24.000Choose the incorrect Answera) Total Liabilities / Total Sources : 0,67b) Total Debt / Equity :1c) Current Ratio: 1,33d) Return on assets : 0,20For Financial year 2021: Current ratio = Current assets / Current liabilities = 43.133 / 29.613 = 1.46 (2.d.p) Debt-to-equity = Total liabilities / Total equity = (29.613 + 25.382) / 47.069 = 1.17 (2.d.p) Return on total assets = Net profit / Average total assets = (-11.195) / 101.964 = -0.11 (2.d.p) Profit margin ratio = Net profit / Net sales = (-11.195) / 81.79 = -0.14 (2.d.p) Debt-to-asset = Total liabilities / Total assets = (29.613 + 25.382) / 101.964 = 0.54 (2.d.p) Cash flow on total assets = Net cash flow from operating activities / Average total assets = 4.717 / 101.964 = 0.05 (2.d.p) For Financial year 2022: Current ratio = Current assets / Current liabilities = 49.476 / 32.754 = 1.51 (2.d.p) Debt-to-equity = Total liabilities / Total equity = (32.754 + 27.625) / 46.732 = 1.29 (2.d.p) Return on total assets = Net profit / Average total assets = (-0.336) / 107.111 = -0.003 (3.d.p) Profit margin ratio = Net profit / Net sales = (-0.336) / 115.56 = -0.003 (3.d.p) Debt-to-asset…Current Asset 120 000Cash 20 000Accounts Receivable 45 000Short-term investments 12 000Merchandise Inventory 42 000Current Liabilities 68 000 What is the company's current ratio?What is the company's quick ratio?