The following information was available for the year ended December 31, 2015 $300,000 210,000 15,000 18,000 Net sales Cost of goods sold Average accounts receivable for the year Accounts receivable at year-end Average inventory for the year 60.000

Q: The cost of goods sold was computed at P12.250. Total sales for the year were P42,950. of which…

A: The Inventory turnover ratio is the measure of how often the inventory goes out or sold. Greater the…

Q: Following are the account balances from Samuel Company's statement of comprehensive income:…

A: Cost of merchandise available for sale is the maximum amount of goods that a company can possibly…

Q: Determining Gross Profit During the current year, merchandise is sold for $11,750,000. The cost of…

A: a. Calculate gross profit: Gross profit = Sales - Cost of goods sold Gross profit = $11,750,000 -…

Q: Following are data for December 31,2021: $5,365,000 Net sales Cost of sales, and related buying…

A: The ratio analysis helps to analyze the financial statements if the business.

Q: XYZ Corporation had reported the following amounts at December 31, 2014: beginning inventory…

A: Following is the answer to given question

Q: Determine the missing data for each letter in the following three income statements for Fulco…

A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for…

Q: Presented below is information for Oakley Company for the month of March 2020. Cost of goods sold…

A: Multi-step income statement: It is the presentation of a normal income statement in a more detailed…

Q: 138.Swifty Corporation had net credit sales of $13025000 and cost of goods sold of $9436000 for the…

A: Inventory days are the days take to convert inventory into sales.

Q: Based on the following data for the current year, what is the number of days' sales in inventory…

A: Average Inventory = (Inventory, beginning of year + Inventory, end of year) / 2 Average Inventory =…

Q: Following are the account balances from Connery Company's statement of comprehensive income:…

A: Cost of goods sold is also known as cost of sales for the business. It means actual cost of goods…

Q: Cost of Goods Sold Calculation The accounts of Berrett Company have the following balances for 2017:…

A: Cost of goods sold is calculated by adding various direct cost associated with the manufacture or…

Q: The Twine Company has the ff information: December 31, 2016 December 31, 2017 Inventory 1,200,000…

A: Cost of Goods purchased = Ending inventory + Cost of goods sold - Beginning inventory Cash paid for…

Q: The financial statements of ConAgra Foods, Inc.’s 2017 annual report disclose the following…

A:

Q: Cost of Goods Sold Based on the following data, determine the cost of goods sold for July: Estimated…

A: Cost of goods sold = Opening Stock + Purchases less returns + Freight in - Closing Stock

Q: 8. Answer is D 9. Answer is C How do you get to these answers?

A: 1) Computation of no of day’s sales in inventory:

Q: Based on the following data, determine the cost of merchandise sold for November: $ 14,500 Increase…

A: Cost of Goods SoldCost of goods sold indicates the costs involved for the inventory sold by the…

Q: The following information is available for the Brown Company for 2016: Gross profit  $30,000 Net…

A: Inventory: It refers to the items held by an organization which were in various forms like raw…

Q: The cost of goods sold was computed at P12.250. Total sales for the year were P42.950, of which…

A: Introduction: Inventory turnover ratio: Division of Average inventory with cost of goods sold…

Q: The financial statements of ConAgra Foods, Inc.'s 2017 annual report disclose the following…

A: The ratio analysis is performed to analyze the financial statements of the business for profit…

Q: The days' sale in inventory is 73. The cost of goods sold is 720,000. The net sales are 1,020,000,…

A:

Q: The following information pertains to ABC Company for 2021: Inventory at December 31, 2021 P16,000…

A: Inventory (beginning) = Cost of goods sold - Purchases + Inventory Dec 31=80,000-72,000+16000=24,000

Q: Following are the account balances from connery company’s statement of comprehensive income:…

A: Cost of goods available for sale means goods available in beginning inventory plus all purchases…

Q: The days' sales in inventory is 73. The cost of goods sold is 720,000. The net sales are Php…

A: Inventory means goods held by a business which ultimate goal is to resale them.

Q: Glee Consolidated had sales of $15,000,000 for 2014. On December 31, 2013 the balance in Accounts…

A: Accounts receivable turnover ratio = Net credit sales / Average Accounts Receivables where, Average…

Q: From the following selected information from Mars Corp. compute net purchases, and cost of goods…

A: Net purchase = Gross purchase - Purchase discount - Purchase return and allowances   Cost of goods…

Q: The following data relates to the business of Hunter for the year ended 31 December 2009. Inventory…

A: Cost of sales or cost of goods sold means the cost of goods which has been sold out including direct…

Q: The cost of goods sold     was computed at P12,250. Total sales for the year were P42,950, of which…

A: Inventory Turnover: = Cost of Goods Sold ÷ Average Inventory = P12,250 ÷ P3,500 = 3.5 Times

Q: From the following information prepare an income statement for the year ended December 31st, 2013.…

A: The income statement shows the net income that is determined from the item of income and expense.…

Q: Determine the missing data for each letter in the following three income statements for Fulco…

A: Financial accounting:   Financial accounting is the process of recording, summarizing, and…

Q: Calculate activity measures The following information was available for the year ended December 31,…

A: Inventory turnover: Inventory Turnover Ratio measures the company’s ability to sell its inventory,…

Q: Bandy’s Barbeque recorded the following financial results:     Fiscal year 2020 Fiscal year 2019…

A: Both the raw materials used in production and the final commodities that are ready to sale are…

Q: The following data are fo essee s Te lor January. $235,000 $615,000 Net sales revenue $410,000…

A: The answer is Option (B.) [i.e, $287,000] Refer step 2 for explanation

Q: Based on the following data, determine the cost of merchandise sold for July: Increase in estimated…

A: COGS = Opening Inventory + Purchases – Closing Inventory

Q: The sales of Super Store for the month is P 80,756.00. Beginning inventory was P 24,435.00; and…

A: Formula: Cost of goods sold = Beginning inventory + Purchases - Ending inventory

Q: Net Sales Cost of goods sold Average accounts receivable for the year Accounts receivable at…

A: Given the following information: Net sales: $1,095,000 Cost of goods sold: $657,000 Average…

Q: At December 31, 2014, the following information was available for A. Kamble Company:   ending…

A: We have the following information: Ending Inventory: $40,200 Beginning Inventory: $57,470 Cost of…

Q: A company reports the following: Cost of merchandise sold               $3,120,750 Average…

A: Ratio analysis is a method of measuring the financial position of the organization with different…

Q: The following information is available for Sandhill Co. for three recent fiscal years.     2017…

A: Inventory turnover: This is the ratio which analyzes the number of times inventory is sold during…

Q: The following information is available for Canadian Tire Corporation (in $ millions): 2018 2017 2016…

A: Inventory turnover = Cost of goods sold / Average inventory where, Average inventory = (beginning…

Q: 2017 2018 Net Sales Revenue $ 5,430 $ 6,080 Cost of Goods Sold 4,100 4,580 Average Inventory 765 880…

A: Inventory turnover ratio = Cost of goods sold / Average inventory

Q: Inventory turnover and number of days' sales in inventory Financial statement data for years ending…

A: Ratio Analysis - Ratio analysis is the technique use to compare two financial statements. It helps…

Emergency Fund

The emergency fund is an amount that is kept aside to meet financial emergencies such as medical expenses and debt settlements. Emergency funds reduce the burden on people during their hardships. People save small portions of their earnings or paychecks as emergency funds to meet financial emergencies. Emergency funds should be saved or invested in such a way that they must be easily liquidated during emergencies. The main purpose of an emergency fund is its availability when required.