2-  What will be the cost of goods sold? 3- What will be the Net Sales ?

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A: The objective of the question is to calculate the gross profit of a company. Gross profit is…

Q: Given the following data; TOTAL PURCHASES 150000 CASH PURCHASES 45000 PURCHASE RETURN S000 OPENING…

A: Creditors turnover ratio = net credit purchase * 2 / (Opening creditors  + Closing creditors)

Q: Selected accounts are listed below. How much is the firm's operating income?  accrued payroll…

A: Operating income of the firm is the income that is earned from the core business activities of the…

Q: The follow ing are balances of Muhire Trading: Frw Drawings 74,800 Purchases 295,700 Stock (1 04…

A: Under the process of accounting, first of all recording of transaction takes place in the general…

Q: Please provide Solutions

A: Step 1: Goods available for sale for merchandiser.Note: We'll use the merchandiser's info.=…

Q: INSTRUCTIONS – The following information has been extracted from the financial statements of Dandy…

A: 1. Calculation of Comparatable Ratios for Dandy & Grandee Superstores Ltd for the year ended 30…

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Q: m Solving. Raymar Alison Trading has the following transactions during the fiscal year 2021. Cash…

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Q: iven the following data  Total Purchases  -  150000   Cash purchases - 45000   Purchase return…

A: Since you have asked multiple questions, we will solve the first question for you . If you want any…

Q: According to the information available in Income and Financial position statements in Part A,…

A: The question is based on the concept of Accounting ratios

Q: O a. 49000 O b. All the options wrong O c. 60700 O d. 31000 O e. 48000 What will be the cost of…

A: The cost of goods sold is a very important calculation in the area of cost accounting. It includes…

Q: Solve this problem

A: Requirement 1:First let us find the requirements of Kleiner Merchandising CompanyGoods Available for…

Q: The following accounting information exists for Aspen and Willow companies.       Aspen Willow…

A: Lets understand the basics. Current asset means a asset which can be converted into cash within one…

Q: PlantTita Company reported the following data for the current year: Legal and audit fees P10,000…

A: 16. Particulars Amount Legal and audit fees  P10,000 Rent for office space (150,000/2) 75,000…

Q: Current Attempt in Progress Certain account balances follow for Blue Spruce Corp., which follows…

A: The income statement is one of the financial statements of the business. It records the revenues and…

Q: ABC Limited has the following info Receipts CBA - Business Loan 4500 Cash Sales Banked 1000 Credit…

A: Accessible income is not just your regular income from salary or business but any income one can…

Q: Edinburgh Exports Inc.’s Pretransaction Statement of Financial Condition Cash $15,000 Accounts…

A: Business entities investigate or evaluate the various ratios such as solvency ratio, activity ratio,…

Q: a. Total gross sales b. Total gross purchase c. Interest Income

A: As per our protocol we provide solution to the first three sub-parts only but you have asked…

Q: How much is the company's cost of sales?

A: Ratio analysis used identify the business performance of the company.It is used to measure financial…

Q: $ 14,600 55,000 43,500 223,000 Cash Accounts receivable Inventory Buildings and equipment, net of…

A: Workings: Minden Company Schedule of Expected Cash collection Cash Sales of May 73200…

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Q: Brock Company's financial information is listed below. Assume that all balance sheet amounts…

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A: Introduction: Income statement: All revenues and expenses are to be shown in Income statement. It…

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A: Introduction: Income statement: All revenues and expenses are to be show in income statement. It…

Q: lowing balance sheet: $39,750 22,875 $62,625 63,375 249,000 $375,000 ered to the point where the…

A: Current Ratio=Current Assets Current LiabilitiesCurrent Ratio=26250062625Current Ratio=4.19Current…

Q: Accounts Amount Total Sales Revenue Travel expense (salespersons) Insurance expenses Cost of goods…

A: Gross profit: The gross profit is the amount left after subtracting the cost of goods sold from the…

Q: Need help

A: It's better if we solve requirement no. 2 first because the computations there will help us solve…

Q: The following balances are related to XYX LLC . Bank Balance 16,000 Purchases 195000 Return…

A: 1. Total Selling and distribution expense = Salesman Salary + Sales Promotion Expense + Advertising…

Q: WHAT IS THE COST OF SALES?

A: Cost of sales in the business means all costs that are directly incurred for the manufacturing of…

Q: a) Calculate net income. Net Income = $Answer b) Calculate the net profit margin. Net Profit Margin…

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Q: Presented below are certain account balances of Splish Products Co. Rent revenue   $6,810   Sales…

A: Formulas; Total Net revenue = (Gross sales - Sales discounts, returns and allowances) + Other…

Q: Question: Krug Service Company Expenses Revenues $9,700 26,000 Owner, Withdrawals 1,400 Cash 900…

A: Krug Service Company Net Income Calculation: Net Income=Revenues−Expenses Given: Revenues: $26,000…

Q: What will be the Net purchases ? O a. 220000 O b. 324000 O c. All the options are wrong O d. 205000…

A: Net purchases = Purchases - Purchase returns

Q: The following information applies to the questions displayed below.]  Roth Incorporated experienced…

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Q: Prepare a balance sheet and income statement for Builtrite Corporation

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A: Formula: Current ratio = Current Assets / Current liability

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A:

Q: - The following information extracted from Best Company accounts: Income tax expenses $2000 Selling…

A: Lets understand requirement in brief. Income from operation means a income from normal trade and…

Q: Particulars Debit (RM) Credit (RM) Sales 265,900 Purchases 154,870 Rent 4,200 Lighting and heating…

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Q: Particulars Debit (RM) Credit (RM) Sales 265,900 Purchases 154,870 Rent 4,200 Lighting and heating…

A: The financial statements are prepared at the end of the accounting period. It includes an income…

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.