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 businessanalysis. 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%. Allexpenses were paid. write income statement

Data Available Initial capital550,000Salaries for hiired employees11,000Rent2,000Communal…

Answered: Ahmad is an entrepreneur and owner of…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter9: Responsibility Accounting And Decentralization

Section: Chapter Questions

Problem 5PA: Financial information for BDS Enterprises for the year-ended December 31, 20xx, was gathered from an...

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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.
1. The business is a trading business. For the period it purchased goods for sale valued of Php 100,000. The goods were all sold for a total price of Php 120,000. For the sale only 10% was received as down payment at the end of the year 30% are still collection. How much is the business income? 2. The business was put up from a cash of Php 200,000 the initial capital of the owner. Then, Php 40,000 of the cash was used to purchase an equipment to be used in business. The purchase of equipment resulted in a liability of Php 20,000. How much are the total assets of the business.
You have just been hired as a financial analyst for Lydex Company, a manufacturer of safety helmets. Your boss has asked you to perform a comprehensive analysis of the company's financial statements, including comparing Lydex's performance to its major competitors. The company's financial statements for the last two years are as follows: Assets Current assets: Cash Marketable securities Accounts receivable, net Inventory Prepaid expenses Total current assets Plant and equipment, net Total assets Lydex Company Comparative Balance Sheet This Year Last Year $ 940,000 0 Liabilities and Stockholders' Equity Liabilities: Current liabilities Note payable, 10% Total liabilities Stockholders' equity: Common stock, $75 par value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Lydex Company 2,620,000 3,580,000 250,000 7,390,000 9,480,000 $ 16,870,000 $ 3,990,000 3,660,000 7,650,000 7,500,000 1,720,000 9,220,000 $ 16,870,000 $ 1,180,000 300,000 1,720,000…
You have just been hired as a financial analyst for Lydex Company, a manufacturer of safety helmets. Your boss has asked you to perform a comprehensive analysis of the company’s financial statements, including comparing Lydex’s performance to its major competitors. The company’s financial statements for the last two years are as follows: Lydex CompanyComparative Balance Sheet This Year Last Year Assets Current assets: Cash $ 890,000 $ 1,020,000 Marketable securities 0 300,000 Accounts receivable, net 2,420,000 1,520,000 Inventory 3,530,000 2,300,000 Prepaid expenses 240,000 180,000 Total current assets 7,080,000 5,320,000 Plant and equipment, net 9,380,000 8,980,000 Total assets $ 16,460,000 $ 14,300,000 Liabilities and Stockholders' Equity Liabilities: Current liabilities $ 3,960,000 $ 2,860,000 Note payable, 10% 3,620,000 3,020,000 Total liabilities 7,580,000 5,880,000 Stockholders' equity: Common stock, $70 par value…
You are evaluating the balance sheet for Goodman Bees Corporation. From the balance sheet you find the following balances: cash and marketable securities = $400,000, accounts receivable = $1,200,000, inventory = $2,100,000, accrued wages and taxes = $500,000, accounts payable = $800,000, and notes payable = $600,000. Calculate Goodman Bees' net working capital. (Enter your answer in dollars not in millions. Round your answer to the nearest dollar amount.)
You have just been hired as a financial analyst for Lydex Company, a manufacturer of safety helmets. Your boss has asked you to perform a comprehensive analysis of the company’s financial statements, including comparing Lydex’s performance to its major competitors. The company’s financial statements for the last two years are as follows: Lydex CompanyComparative Balance Sheet This Year Last Year Assets Current assets: Cash $ 1,010,000 $ 1,250,000 Marketable securities 0 300,000 Accounts receivable, net 2,900,000 2,000,000 Inventory 3,650,000 2,000,000 Prepaid expenses 270,000 210,000 Total current assets 7,830,000 5,760,000 Plant and equipment, net 9,620,000 9,100,000 Total assets $ 17,450,000 $ 14,860,000 Liabilities and Stockholders' Equity Liabilities: Current liabilities $ 4,060,000 $ 3,080,000 Note payable, 10% 3,700,000 3,100,000 Total liabilities 7,760,000 6,180,000…
You have just been hired as a financial analyst for Lydex Company, a manufacturer of safety helmets. Your boss has asked you to perform a comprehensive analysis of the company’s financial statements, including comparing Lydex’s performance to its major competitors. The company’s financial statements for the last two years are as follows: Lydex CompanyComparative Balance Sheet This Year Last Year Assets Current assets: Cash $ 1,010,000 $ 1,250,000 Marketable securities 0 300,000 Accounts receivable, net 2,900,000 2,000,000 Inventory 3,650,000 2,000,000 Prepaid expenses 270,000 210,000 Total current assets 7,830,000 5,760,000 Plant and equipment, net 9,620,000 9,100,000 Total assets $ 17,450,000 $ 14,860,000 Liabilities and Stockholders' Equity Liabilities: Current liabilities $ 4,060,000 $ 3,080,000 Note payable, 10% 3,700,000 3,100,000 Total liabilities 7,760,000 6,180,000…
Can you please solve this financial accounting Problem?
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.
You are evaluating the balance sheet for Goodman Bees Corporation. From the balance sheet you find the following balances: cash and marketable securities = $360,000, accounts receivable = $2,200,000, inventory = $1,900,000, accrued wages and taxes $690,000, accounts payable $990,000, and notes payable $790,000. Calculate Goodman Bees' net working capital. Note: Enter your answer in dollars not in millions. Net working capital
You have just been hired as a financial analyst for Lydex Company, a manufacturer of safety helmets. Your boss has asked you to perform a comprehensive analysis of the company’s financial statements, including comparing Lydex’s performance to its major competitors. The company’s financial statements for the last two years are as follows: Lydex CompanyComparative Balance Sheet This Year Last Year Assets Current assets: Cash $ 945,000 $ 1,250,000 Marketable securities 0 300,000 Accounts receivable, net 2,900,000 2,000,000 Inventory 3,650,000 2,000,000 Prepaid expenses 270,000 210,000 Total current assets 7,765,000 5,760,000 Plant and equipment, net 9,620,000 9,100,000 Total assets $ 17,385,000 $ 14,860,000 Liabilities and Stockholders' Equity Liabilities:…
Kate is considering expanding and bringing in several employees. To do this she will need a larger facility and to purchase more equipment. Which means additional financing. Answer this: look at the financial statements as if you were a banker considering her for a loan comment on your findings and use calculations to support your answer.

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