Mr. X purchased a computer for Rs 60,000. He spent Rs 8,000 on transportation, Rs 2,000 on software installation, and Rs 5,000 on accessories. The computer is depreciated at 15% per annum on the written down value method. After 2 years, he sold it for Rs 48,000 and paid Rs 1,000 as brokerage. Calculate the profit or loss on the sale.
Q: Compute the percentage of total return? Accounting
A: The percentage total return (R) = [$1.80 + ($83-75)]/$75 = 13.07% The dividend yield…
Q: Financial Accounting
A: Step 1: Define Return on Investment (ROI)Return on Investment (ROI) is a financial metric used to…
Q: Critically analyse the role of financial reporting in investment decision-making,emphasizing the…
A: Critical Analysis of Financial Reporting in Investment Decision-MakingFinancial reporting plays a…
Q: Hii teacher please provide correct answer general accounting question
A: Given Data: Sales = $825,400 Costs = $462,700 Depreciation = $112,300 Tax Rate = 35% Calculate…
Q: Ayayai Corp. employs a five-day workweek Monday - Friday and a September 30 year-end. Normal weekly…
A: First, we need to determine the daily wage rate. Since Ayayai Corp. employs a five-day workweek, we…
Q: Need help with this question solution general accounting
A: Step 1: Definition of Cost of Goods Manufactured (COGM)Cost of Goods Manufactured (COGM) represents…
Q: Financial accounting 2
A: The Rate of Return on Average Common Shareholders' Equity (ROE) is a financial ratio that measures a…
Q: Solve my q
A: Solution for Question 1: Cost of Goods Sold (COGS)To calculate COGS, we use the formula:COGS =…
Q: Solve this accounting problem
A: Step 1: Define Variable CostingVariable Costing is an accounting method that includes only variable…
Q: What is the actual direct material cost
A: Explanation of Actual Direct Materials Cost:Actual Direct Materials Cost represents the total cash…
Q: compute the traditional overhead rate per labor hour.
A: Step 1: Definition of Traditional Overhead RateThe traditional overhead rate per labor hour is the…
Q: respond to ceasar Companies make adjusting entries to ensure that their financial statements…
A: Hello Ceasar, Adjusting entries help a company's financial accounts appropriately reflect its…
Q: Sterling Manufacturing had a quick ratio of 1.5, a current ratio of 3.2, an inventory turnover ratio…
A: Step 1: Definition of Annual Sales and Days Sales Outstanding (DSO)Annual Sales refers to the total…
Q: Total amount?
A: Step 1: DefinitionsExplanation of Period CostsPeriod costs are expenses that are not directly tied…
Q: What is the gross margin of this financial accounting question?
A: Step 1: Definition of Gross MarginGross Margin (also called Gross Profit) is the difference between…
Q: Financial Accounting Question
A: Step 1: Define Accounting EquationThe accounting equation states that a company's total assets…
Q: Critically assess the role of the Conceptual Framework in financial reporting and its influence…
A: Critical Assessment of the Role of the Conceptual Framework in Financial Reporting The Conceptual…
Q: Lakeshore Retailers estimates bad debts as 2% of net sales but is switching to the aging method,…
A: Step 1: Definition of Bad Debt ExpenseBad debt expense is the estimated amount of accounts…
Q: On April 1, 2020, Hudson Enterprises issued a 4% long-term note payable for $18,000. It is payable…
A: Step 1: Definition of Total Cash Payment on InstallmentA total cash payment on an installment refers…
Q: What is the direct labor efficiency variance?
A: Step 1: Definition of Direct Labor Efficiency VarianceDirect labor efficiency variance measures the…
Q: General accounting
A: Step 1: DefinitionProfit Margin measures how much of each dollar in sales translates into net…
Q: given answer of this Financial accounting question
A: Step 1: Define Stockholders' EquityStockholders' equity represents the owners' residual interest in…
Q: given answer of this General accounting question
A: Step 1: Define Depreciation and Amortization (D&A)Depreciation and amortization (D&A)…
Q: Charlotte's Cleaning Services began the year with total liabilities of $120,000 and stockholders'…
A: Explanation of Total Assets:Total assets represent the economic resources owned by a company that…
Q: If you give me wrong answer this financial accounting question I will give you unhelpful rate
A: Step 1: Define Accumulated DepreciationAccumulated Depreciation is the total amount of depreciation…
Q: General accounting
A: Step 1: Definition of Return on Equity (ROE)Return on Equity (ROE) is a financial metric that…
Q: Get correct answer this accounting question not use ai
A: Step 1: Define Gain or Loss on Asset SaleGain or Loss on Asset Sale is the difference between the…
Q: given answer General accounting question
A: Step 1: Define Net IncomeNet Income is the total profit of a company after deducting all expenses,…
Q: Compute the companywide break even point
A: Explanation of Break-Even Point: The break-even point represents the level of sales at which a…
Q: Can you please help me by providing clear neat organized answers. Thank you!
A: Step 1:Condensed Income statements are the summary of the income statement in which each account is…
Q: Need help with this question solution general accounting
A: Step 1: Definition of Net Operating Income Calculation Using Contribution Margin Net operating…
Q: Need help with this question solution general accounting
A: Step 1: Definition of Free Cash Flow (FCF) Free cash flow represents the cash that a company…
Q: What amount of shrinkage occurred during the month?
A: Step 1: Definition of Inventory ShrinkageInventory shrinkage refers to the loss of inventory due to…
Q: What is its profit margin for the financial accounting?
A: Step 1: Definition of Profit MarginProfit margin is the percentage of revenue that remains as profit…
Q: determine the total martials variance.
A: Step 1: Definition of Total Materials VarianceTotal materials variance measures the difference…
Q: If you give me correct answer this general accounting question I will give you helpful rate
A: Step 1: Definition of Gross Margin under Absorption CostingGross margin under absorption costing is…
Q: Determine the cash payments made during July on these financial accounting question
A: Step 1: Analysis of information givenBeginning Cash Balance (July 1) = $25,480Cash Receipts during…
Q: Kindly help me with this question answer general accounting
A: Step 1: Define Owner's EquityOwner's Equity represents the owner's stake in the business, which is…
Q: hi expert please help me
A: Step 1: Definition of Projected Benefit Obligation (PBO)Explanation: The Projected Benefit…
Q: No Ai
A: To calculate the total rate of return, we use the formula: Total Rate of Return=Initial…
Q: What is the net realizable value of accounts receivable after the write off entry on these financial…
A: Step 1: Define Net Realizable Value (NRV) of Accounts ReceivableNet Realizable Value (NRV) of…
Q: General accounting question
A: Step 1: Introduction to inventory valuationInventory valuation is referred to as that method which…
Q: Solve solu
A: 1. Contribution Margin per Machine Hour Selling Price per Unit = $55.00Variable Cost per Unit =…
Q: Answer
A: Explanation of Price-Earnings (P/E) Ratio: The price-earnings ratio is a fundamental valuation…
Q: Carter Industries reported financial data for 2023, including net income of $500 million. The…
A: To calculate Carter Industries' Return on Assets (ROA) for 2023, follow these steps: Step 1:…
Q: Give me the answer in a clear organized table please. Thank you!
A: Step 1:Current Ratio is calculated to check the liquidity position of the company in short run. it…
Q: Give me correct solution for this accounting question
A: Step 1: Define Activity-Based Costing (ABC)Activity-Based Costing (ABC) is a costing method that…
Q: Solare Company acquired mineral rights for $536,800,000. The diamond deposit is estimated at…
A: 1. Determine the Depletion RateDepletion is calculated similarly to depreciation but applies to…
Q: Subject: general accounting
A: Explanation of Asset Turnover: Asset turnover is a financial efficiency ratio that measures how…
Q: Accounting
A: Step 1: Define ProfitProfit is the financial gain obtained when revenue from selling goods or…
Please give me answer general accounting question
Step by step
Solved in 2 steps
- Bruno buys two motor vans costing RM41,000 in total. They are depreciated on the reducing-balance basis at the rate of 40% per annum. Which of the following statements is true? A. The NBV of the vans after two years will be RM14,760 and the depreciation charge for year 2 will be RM9,840 B. The NBV of the vans after one year will be RM14,760 and the depreciation charge for year 2 will be RM16,400. C. The NBV of the vans after two years will be RM24,600 and the depreciation charge for year 2 will be RM9,840 D. The NBV of the vans after one year will be RM24,600 and the depreciation charge for year 2 will be RM16,400.Jaylen & Isaiah purchased an item valued at $253,000. They paid $45,540 down and financed the rest at 2.21% compounded monthly. To reduce the amount owing to $59,092 at the end of 5 years, what size of equal payments must Jaylen & Isaiah make at the end of each three months? Enter the present value as a positive value in the PV box below. Enter PMT and FV as positive or negative values based on PV being positive. Report PMT accurate to the nearest cent. P/Y = C/Y= N= I/Y = PV = $ PMT= $ FV = $ The size of each equal payment is (enter a positive value) $ Submit QuestionA man purchased a house for P425,000. In the first month that he owned the house, he spent P75,000 on repairs and remodeling. Immediately after the house was remodeled, he was offered P545,000 to sell the house. After some consideration, have it rented for P4,500 per month starting two months after the purchase. He collected rent for 15 months and then sold the house for P600,000. If the interest rate was 1.5% per month, how much extra money did he make or lose by not selling the house immediately after it was remodeled? decided to keep the ho se and Draw cash flow diagram
- A man purchased a house for P425,000. In the first month that he owned the house, he spent P75,000 on repairs and remodeling. Immediately after the house was remodeled, he was offered P545,000 to sell the house. After some consideration, he decided to keep the house and have it rented for P4,500 per month starting two months after the purchase. He collected rent for 15 months and then sold the house for P600,000. If the interest rate was 1.5% per month, how much extra money did he make or lose by not selling the house immediately after it was remodeled?What is the gain or loss on the sale of the facility?Terry purchased a machine for $15,000; the seller is holding the note. Terry paid $2,500 for the required wiring and installation. Terry has deducted depreciation on the machine for 3 years totaling $4,500. Terry owes $5,000 to the Seller. What is Terry’s adjusted basis in the machine? $10,500 $8,000 $13,000 $5,500
- Jacob purchased a house for Php 50,000. He spent Php 6000 for repair and Php 5,000 for air conditioning. if he had sold the house Php 58,000, find the gain or loss percentage in this transaction.David decided to give Blake a machine for use in Blake’s business. David originally paid $38,000 for the machine. David took $9,500 in depreciation on the machine before giving it to Blake. The FMV at the time of the gift was $40,000. Blake paid $250 to ship the machine to his location. What is Blake’s depreciable basis for the machine?General Account:- Hank owns a gym called Ultimate Fitness. During the past year, Hank sold his facility to purchase a larger building with a parking lot. He received sales proceeds of $125,000 form the buyer. He paid a sales commission to his broker of $6,500. The building had an original cost of $105,00 and had accumulated depreciation for tax purposes of $15,825. What is Hank's realized gain or loss on the sale?
- A man buys a house for $330,000. He makes a $150,000 down payment and amortizes the rest of the purchase price with semiannual payments over the next 10 years. The interest rate on the debt is 8%, compounded semiannually.(a) Find the size of each payment.$ (b) Find the total amount paid for the purchase.$ (c) Find the total interest paid over the life of the loan.$M purchased a small lot in a subdivision, paying P200, 000 down and promising to pay P15, 000 every 3 months for the next 10 years. The seller figured interest at 12% compounded quarterly. (a) What was the cash price of the lot? (b) If M missed the first 12 payments, what must he pay at the time the 13th is due to bring him up to date? (c) After making 8 payments, M wished to discharge his remaining indebtedness by a single payment at the time when the 9th regular payment was due, what must he pay in addition to the regular payment then due? (d) If M missed the first 10 payments, what must he pay when the 11th payment is due to discharge his entire indebtedness?Include cashflow if possibleThe purchaser of a car paid $10,000 cash and agreed to pay $3000 at the end of 6 months for 10 years. He failed to make the first 5 payments of $3000 each. At the end of 3 years, he desires to pay the car by a single payment which will cancel both his accumulated liabilities and his future liabilities. What must he pay if money is worth 6% per annum compounded semi-annually?