Ahmad is an entrepreneur and owner of the company. He thinks whether should he continue his activity and hired you as an analyst in order to carry out a general business analysis. He gave you the general data of from his draftbook: Initial capital 550000 AZN. Salaries for hired employees 11000 AZN. Rented office for company 2000 AZN. Communal services 1000 AZN. Goods obtained 110000 AZN. Sales were 70% of inventory with Trade surcharge of 45 %. 40% of cash were received. Profit Tax 20%. All expenses were paid. write income statement
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- . PQR is the accounting intern for, a firm that has many small clients that need monthly accounting services. Ray has been asked by the partner in charge to analyze the asset section of firm’s balance sheets which follow: 2011 2012 Cash $2,500 $3,900 Accounts receivable, net 35,000 40,000 Inventory 85,000 122,000 Other current assets 3,400 4,110 Total current assets 125,900 170,010 Property , plan &equipment , net 180,000 230,000 Other assets 15,000 26,000 Total assets $320,900 $426,010 Required Prepare a common-size analysis of the assets section of the firm’s balance sheet for 2011 and 2012.Round all percentage answers to one decimal placeple Choice. Select the letter of your answer. 1. The income statement is a statement that shows the result of the operation of the business. In the first quarter of its operation the business has a revenue of Php155,000 and cost and expense amounting to Php80,000. How much is the net income of the business? a. Php155,000 b. Php80,000 c. Php75.00 d. Php235,000 2. All items appearing in the income statement are nominal or temporary accounts. Which of the following is a nominal account? a. Sales b. Accounts Payable C. Accounts Receivable d. Juan Dela Cruz, Capital 3. The body of the balance sheet includes information about the income earned during the period. Which accounting element in the balance sheet does the net income is added? C. Owner's Equity d. Income Statement a. Asset b. Liability 4. On January 2, 2019, the Mega Car Wash shop rendered services to Heaven's Hotel Shuttle Services on account amounting to Php3,500 and delivered the Charge Slip on January 3, 2019. The hotel paid…In order to prepare the statement of Financial position, you identified the following assets and liabilities of Ms. Santos after she made an investment of 159,000. A. Her store has cash deposited in a bank account amounting to 25,000.B. Her store has a lot of uncollected sales from customers amounting to 75,000.C. The total amount of merchandise left inside the store is 30,000.D. He already paid one year's rent in advance amounting to 12,000.E. The value of all the company's furniture amounted to 100,000F. He bought merchandise from his supplier amounting to 25,000 and the supplier agreed that payment can be made 2 months after year end.G. SSS, PHILHEALTH and PAG-IBIG payables for his one employee totaled 5,000.H. The sari-sari store had outstanding Liabilities to utility companies amounting to 3,000.I. She had a loan from the bank amounting to 50,000 to be paid in 3 years. Please make the statement of Financial position.
- Upon graduating with an accounting degree, you open your own accounting firm of which you are the sole employee. To start the firm you passed on a job offer with a large accounting firm that offered you a salary of RM60,000 annually. Last year you earned a total revenue of RM100,000. Rent and supplies last year were RM50,000. Based on the above information, describe the condition of your firm.Ramsworth Ltd. is a wholesale business and you have recently been employed within the position of a credit-based controller within the company. You have just obtained a summary of Ramsworth Ltd’s most recent draft income statement and statement of financial position as follows: Income statement for the year ended 31 December 2020 £000 Sales Revenue 8,649 Cost of Sales (5,106) Gross Profit 3,543 Other Operating Expenses (998) Operating Profit 2,545 Interest (265) Profit before Taxation 2,280 Taxation (570) Profit for the year 1,710 Statement of Financial Position as at 31 December 2020 £000 Non-current assets at cost 6,284 Accumulated depreciation (2,943) 3,341 Current assets Inventories 2,648 Trade receivables 1,428 4,076 Total assets Equity 7,417 Ordinary share capital 2,100 Revenue reserves 2,384 4,484…You have been hired as an analyst for MBJ & Co and your team is working on an independent assessment of Anak Bumi Sdn. Bhd (ABSB). ABSB is a company that specializes in the plantation. Your assistant has provided you with the following data for ABSB and their industry. Ratio 2019 2020 2021 2020- Industry Average Long-term debt 0.45 0.40 0.35 0.35 Inventory Turnover 62.65 42.42 32.25 53.25 Depreciation/Total Assets 0.25 0.02 0.02 0.02 Days’ sales in receivables 113 98 94 130 Debt to Equity 0.75 0.85 0.90 0.88 Profit Margin 0.08 0.07 0.06 0.08 Total Asset Turnover 0.54 0.65 0.70 0.40 Quick Ratio 1.03 1.03 1.03 1.03 Current Ratio 1.33 1.21 1.15 1.25 Times Interest Earned 0.90 4.38 4.45 4.65 Equity Multiplier 1.75 1.85 1.90 1.88 Required: You are required to prepare interim audit report of ABSB for the year 2020.
- As an assistant financial manager for Taring Jitu Sdn Bhd, you are required to measure the firm's cash conversion cycle, operating cycle, production cycle, collection cycle, and payment cycle on one of your manufacturing products. The Board of Director will rely on your result to help them to make a decision. Below is the necessary information for the most recent fiscal year prepared by your accountant and puts together into table: Cash sales RM 650,000 Credit sales RM 970,000 Total sales RM 1, 620,000 Cost of goods soldRM 1,010,000 Ending Balance Beginning Balance Accounts receivable RM 52,000 RM 48,000 Inventory RM22, 500 RM 18, 800 Accounts payable RM21,000 RM 17,100 By using above data, measure the cash conversion cycle.You opened a novelty store called "The Awesome Shop" on January 2, 2018. The following were the transactions during the year: 1. Provided P100,000 cash as initial investment. 2. Obtained a P50,000 loan. 3. Acquired furniture and fixtures for P80,000 cash. 4. Acquired inventory on account for P60,000. 5. Sold goods on cash basis for P200,000. The cost of sales is P20,000. 6. Sold goods on account for P300,000. The cost of sales is P30,000. 7. Paid supplies expense for P20,00o cash. 8. Paid rent expense of P180,00o. 9. Paid utilities expense of P40,000. 10. Collected P240,000 accounts receivable. 11. Paid P30,000 accounts payable. 12. Made total drawings of P25,000. REQUIREMENTS: a. Record the transactions in the journal. b. Post the transactions in the ledger. c. Prepare the unadjusted trial balance on December 31, 2018.Answer this questions: 1. If the revenue is Php 94,810 and total expenses are Php 80,537, what is the net income? 2. If sales are equal to Php 600,480 and the costs of goods sold is equal to Php 374,789, what is the gross profit/margin? 3. If the company B has Php 1.048,150 liabilities, how much is its equity? 4. Given the following information, compute for the operating profit/margin: GROSS SALES: Php 600,480 COSTS OF GOODS SOLD: Php 374,789 TOTAL OPERATING EXPENSES: Php 132,916 5. A company's total investements Php 1,500,000. If Return on Investments is 35% , how much is the net profit after taxes?
- Assume that you are purchasing an investment and have decided to invest in a company in the digital phone business. You have narrowed the choice to Digitized Corp. and Very Network, Inc. and have assembled the following data. LOADING... (Click to view the income statement data.) Data Table Selected income statement data for the current year: Digitized Very Network Net Sales Revenue (all on credit) $418,290 $494,940 Cost of Goods Sold 210,000 256,000 Interest Expense 0 15,000 Net Income 62,000 70,000 (Click to view the balance sheet and market price data.) Data Table Selected balance sheet and market price data at the end of the current year: Digitized Very Network Current Assets: Cash $24,000 $21,000 Short-term Investments 42,000 19,000 Accounts Receivables, Net 36,000 46,000 Merchandise Inventory 67,000 98,000 Prepaid Expenses 22,000 18,000 Total…A certain company is offered for sale, You expressed interest in buying the firm. A document showing that the company made a profit P 20,000,000 in the previous year was handed to you. If you have the money, will you now make a decision? Explain your answer.Rick's ROA?
