Dunng its Secand and third qvarters OF Fiscal 20 14, Rasbery inc wrotecowns BB lo Smrtphone inventory by aprax. 17081000/000 becauseCXceeded its macket ValveCamplete the table be law indicathrythe accont amantard dire ctionAssctsLiabilities+Stockhaldascasty

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Answered: Dunng its Secand and third qvarters OF…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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NO RATIO 1 2 3 4 5 Financial statements of Phoenix Textile for the years 2020 FORMULAE ANSWER RM175813/ RM 35100 6 Current ratio Acid-Test ratio Gross profit margin Net profit margin Inventory turnover ratio Current asset/ Current liabilities (Current asset- inventory) / current liabilities (Gross profit/net sales) x 100 (Net profit/net sales) x 100 Cos of goods / average stock Account (Account receivable receivable/sales) collection x 100 period = 5:1 (RM175813-RM161213)/ RM35100 = 0.42: 1 (RM72043/RM125780) x 100 % = 57.28% (RM15043/RM125780) X 100% 5% Average stock =(RM158750+RM161213)/2 =RM159981.50 Inventory turnover ratio RM53737/RM15998.50 = 3.36 =3 Times (RM12300/RM125780) x 365days =35.70 =36 days COMMENTS The current ration of the company shows it has 5 times more current asset compared to its current liability. Whereas RM5 current asset, to pay RM1 current liability. Therefore, the company is able to pay its short-term debt. The firm has RM0.42 liquid asset to cover RM1…
please show how you got it: The following information relates to Star Outlet Opening stock: 1 000 000 Purchases 300 000 Closing sto k 500 000 The cost of Sales is: A. 1 800 000 B. 800 000 C. 700 000 D. 200 000 E. None of the above''
21- According to the information below, what is the cost of goods sold for a business that monitors its stocks using the perpetual inventory method ? TL Stock at the Beginning of the Period Buying During the Period Buying Returns Purchase Expenses Purchase Discounts End of Period Inventory 44,000 65,000 4,000 4,000 1,000 30,000 a) 98,000 TL B) 64,000 TL NS) 92.000 TL D) 96,000 TL TO) 78,000 TL
TB MC Qu. 8-111 (Static) A company has the following information available... A company has the following information available that was used to report inventory using the dollar-value LIFO method. Year 12/31/2023 12/31/2024 Year-End Cost $ 250,000 259,000 Cost Index 1.00 1.06 For the year ended 12/31/2024, the company reported inventory of $274,540 (= $259,000 x 1.06). Which of the following statements is correct? Multiple Choice The amount reported for ending inventory should be calculated as $250,000 + ($9,000 ÷ 1.06). The amount reported for ending inventory should be calculated as $259,000+ 1.06. The amount reported for ending inventory is correct. Proy 16 of 16 HH Ch Next
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Like new express. had machines in Stock at the Inventory records for Date Jan 1 Aug 5 Oct 19 Nov 23 Purchase Dec 16 Total available for Sale 490 multi function Center end of the 95 Purchase Purchase the year are Quantity Begining Incubory So Purchase 100 100 300 200 750 year follows. A 92,341.67 B93, 341.67 C 94, 994.67 Answer D 103, 094.67 Key Corf Total 7,100 142 269 26,900 233 23,300 189 56,706 157 31,400 145,400 Using the average Cost method of inventory pricing dollar value of ending inventory Calculate the
Find the ROE for Potbelly Corp for the year 2015. Use the highlighted excel information. Please explain steps used, thanks!
Qw.13.
Question 2 Cicero Supplies Ltd uses a system of perpetual inventory. Regarding the migration of one of its stock lines, it has provided the following information: Month Receipt Opening 200 @ 8.50 Issues Balance 200 @ $8.00 January February March 300 150 @ $9.00 April May June 150 200 @ $9.15 |July 250 Required: (a) Calculate the closing stock value at the end of June under each of the stock valuation methods of FIFO, LIFO and AVCO. Work to 2 decimal places. (b) Identify one advantage and one disadvantage for each of the valuation methods: FIFO, LIFO and AVCO.
Calculate ROE for PotBelly Corp 2015. Use highlighted excel info
Subject: accounting
What was Costco's lowest price traded during the past year? Costco Wholesale Corporation (COST) NasdaqGS-NasdaqGS Real Time Price. Currency in USD 373.43 -0.62 (-0.17%) At close December 44:00PM EST Summary Company Outlook Previous Close Open Bid Ask Volume Avg. Volume Day's Range 52 Week Range 271.28-393.15 a b C d $373.43 $271.28 374.05 $393.15 375.21 $374.05 373.28 x 1100 373.50 x 800 371.89-375.31 2,839,727 2,326,180 Chart Market Cap Beta (5Y Monthly) PE Ratio (TTM) EPS (TTM) Conversations Statistics Historical Data Profile Financials Add to watchlist Earnings Date Forward Dividend & Yield Ex-Dividend Date ly Target Est 164.7688 0.67 41.40 9.02 Dec 10, 2020 2.80 (0.75%) Dec 01, 2020 383.35 1D 50 1M 6M YTD 1Y SY Max Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. 10 AM 12 PM Analysis Options Full screen 376.00 374.05 373.43 372.67 371.00 02 PM 04 PM Trade prices are not sourced from all r

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Dunng its Secand and third qvarters OF Fiscal 20 14, Rasbery inc wrote cown s BB lo Smrtphone inventory by aprax. 17081000/000 because CXceeded its macket Valve Camplete the table be law indicathry the accont amant ard dire ction Asscts Liabilities + Stockhaldas casty