The cost of sales for 2016 should be Calla Company presented its cost of goods sold statements for the year ended December 31, 2016 with the followinginformation:Inventory, Beginning P 360,000Purchases 4,100,000Inventory, Ending 700,000The auditor noted the following during its audit of inventories:1. Inventory balance at year-end is based on physical count and no reconciling items were considered.2. Purchases made were at FOB Shipping point.3. At the end of the year when cut-off procedures performed,• Sales of P286, 000 (cost of P85,800) were made on account on December 31, and the goods were delivered at thattime, but all entries related to the sales was made January 2.Invoices totaling to P64,000 were entered in the voucher register in January, but the goods were received in December.2.December invoices of P46,000 were entered in the voucher register in December, but goods were not received untilJanuary.• Invoices of P65,400 were entered in the voucher register in January, and the goods were received in January, but thevoices were dated December.At the beginning of the year when cut-off procedures performed, it revealed that invoices totaling P95,000 wasrecorded in January for goods received last December. Invoices amounting to P45,000 were entered in the vouchers inDecember but the goods were not received until January.

Cost of sales refers to the accumulated costs of all the products and services that are been sold by…

Answered: Inventory, Beginning P 360,000…

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

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Financial statements Net operating revenues Operating expenses Operating income Non-operating items: Interest expense Other Net income Total assets Total shareholders' equity S 2020 33.8 28.9 4.9 (1.2) (0.6) 3.1 $ $ 200.0 78.0 - X
music studio predicts its future yearly net income (loss) to be as follows: Year 1: - $120Year 2: + $20Year 3: + $90Year 4: - $10Year 5: + $30Year 6: + $30Year 7: + $30Year 8: + $40 What is the NPV of the company, considering a discount rate of 10%?
Why is the cash conversion cycle metric a meaningful metric? What specific areas are measured in this metric and why are these areas are a "big deal" worthy of close scrutiny? Would an investor (or potential investor) prefer to see a higher or lower cash conversion cycle metric result? Using the Walmart annual report posted in the supplemental materials folder and the prior annual reports available at the websites provided in the the "Supplemental Course Materials" folder, calculate Walmart's cash conversion cycle for 2014, 2013, & 2012 and address the 3-year trend (in other words, is it trending better or worse)? Note: For the Days of Inventory and Days of Payable calculations, use Cost of Goods Sold. For the Days of Receivables calculation, only use Net Sales (excl. Members & other income). Do the Walmart cash conversion numbers calculated in question 4 indicate Walmart is a strong performer or a weak performer? What does the year-over-year trend indicate to you?
Under the assumption that KMS's market share will increase by 0.22% per year, you determine that the plant will require an expansion in 2015, KMS's current outstanding debt, the interest on the debt, and the interest tax shield are given in the table below. The expansion will cost $21.8 million. Assuming that the financing of the expansion will be delayed accordingly (end of 2015) calculate the projected interest payments and the amount of the projected interest tax shields (assuming that KMS still uses a 10-year bond, interest rates remain the same at 7.1%, and KMS's tax rate is 35%) through 2018. Current values (5000) Outstanding debt before expansion Interest on debt before expansion Interest Tax Shield before expansion 2013 $4,447 $316 $111 2014 $4,447 $316 $111 2015 $4,447 $316 $111 2016 $4,447 $316 $111 The total projected interest payments beginning in 2015 will be $ (Round to the nearest dollar) 2017 $4,447 $316 $111 2018 $4,447 $316 $111
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Inventory, Beginning P 360,000 Purchases 4,100,000 Inventory, Ending 700,000