Homework Help is Here – Start Your Trial Now!
Business
Finance
alculate the following from the additional information given G Gross profit H Net profit

alculate the following from the additional information given G Gross profit H Net profit

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
See similar textbooks
icon
Related questions
Question

Requirement : 2

Calculate the following from the additional information given

G

Gross profit

H

Net profit
Liabilities ОMR Assets OMR Equity share capital Accounts Payable Reserves and surplus Bills payable Long term borrowings Outstanding Salaries Loan from Bank 27.800 Furniture 4,000 4,500 3,750 1,550 Cash in hand 2,550 Bills receivables 950 Land 9,000 6,520 Marketable securities 850 850 Cash in bank 5,250 Building Prepaid expenses Cars & Trucks 3,450 6,600 Preference share capital Bank overdraft 5,265 850 825 3,350 Tax outstanding 590 Account Receivables 1,150 2,150 Inventory Income earned but not 430 received Machinery Equipment Total 6,250 2,220 Total 50,350 50,350 Other information Particulars OMR Sales Cost of goods sold Administration expenses Selling & Distribution exp. Interest received Rent Received Commission received 330,000 155,000 33,000 44,000 12,200 2,000 1,750
Transcribed Image Text:Liabilities ОMR Assets OMR Equity share capital Accounts Payable Reserves and surplus Bills payable Long term borrowings Outstanding Salaries Loan from Bank 27.800 Furniture 4,000 4,500 3,750 1,550 Cash in hand 2,550 Bills receivables 950 Land 9,000 6,520 Marketable securities 850 850 Cash in bank 5,250 Building Prepaid expenses Cars & Trucks 3,450 6,600 Preference share capital Bank overdraft 5,265 850 825 3,350 Tax outstanding 590 Account Receivables 1,150 2,150 Inventory Income earned but not 430 received Machinery Equipment Total 6,250 2,220 Total 50,350 50,350 Other information Particulars OMR Sales Cost of goods sold Administration expenses Selling & Distribution exp. Interest received Rent Received Commission received 330,000 155,000 33,000 44,000 12,200 2,000 1,750
1. Case Analysis: Al Ismail Fashions (AIF) is a garment company, located in Alkhwair Muscat, which consists primarily of much smaller garment makers. AIF was started 13 years ago by Ahmed and Salim, who has over 15 years of experience with a major garment manufacturer. And the partnership initially blended very well. Ahmed is extremely creative with a real talent for merchandising. Mainly as a result of his knowledge, the AIF is known for its quality and "in" fashions. Salim has contributed to merchandising and marketing ideas, but has mainly assumed the duties of the firm's chief operating officer. Ahmed has had little interest in the financial aspects of the company as he preferred to work on fashion designing and development of marketing strategies. A few months ago, however, he decided that he had better become more involved with the company's financials. Ahmed want to analyse the financial statement of the company to know the current financial performance and positions of the company. The following are the financial details of the AIF.
Transcribed Image Text:1. Case Analysis: Al Ismail Fashions (AIF) is a garment company, located in Alkhwair Muscat, which consists primarily of much smaller garment makers. AIF was started 13 years ago by Ahmed and Salim, who has over 15 years of experience with a major garment manufacturer. And the partnership initially blended very well. Ahmed is extremely creative with a real talent for merchandising. Mainly as a result of his knowledge, the AIF is known for its quality and "in" fashions. Salim has contributed to merchandising and marketing ideas, but has mainly assumed the duties of the firm's chief operating officer. Ahmed has had little interest in the financial aspects of the company as he preferred to work on fashion designing and development of marketing strategies. A few months ago, however, he decided that he had better become more involved with the company's financials. Ahmed want to analyse the financial statement of the company to know the current financial performance and positions of the company. The following are the financial details of the AIF.
Expert Solution
steps

Step by step

Solved in 3 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Strategic business units
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Essentials Of Investments
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
FUNDAMENTALS OF CORPORATE FINANCE
FUNDAMENTALS OF CORPORATE FINANCE
Finance
ISBN:
9781260013962
Author:
BREALEY
Publisher:
RENT MCG
Financial Management: Theory & Practice
Financial Management: Theory & Practice
Finance
ISBN:
9781337909730
Author:
Brigham
Publisher:
Cengage
Foundations Of Finance
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
Fundamentals of Financial Management (MindTap Cou…
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS