Net Sales 36000 Commission received 6430 Interest received 3570 Cost of goods sold 7400 Dividends received 2220 From the above information the total income will be: a. OMR 41280 b. OMR 42820 c. OMR 48220 d. OMR 40820 Fast plz***********

Net Sales 36000 Commission received 6430 Interest received 3570 Cost of goods sold 7400 Dividends received 2220 From the above information the total income will be: a. OMR 41280 b. OMR 42820 c. OMR 48220 d. OMR 40820 Fast plz***********

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: If this information was used to prepare an income statement, Income from Operations should be:

A: The earnings generated from the primary business activity of the entity is called as operating…

Q: Exercise 10-4A (Algo) Determining the present value of an annuity LO 10-1 The dean of the School of…

A: Net present value refers to the method of capital budgeting used for calculating the difference…

Q: a DUsO 2UzOz TINAL DAIVIINATION BUSS T04 SPRING 2T/ FINAL EXAMINATION SPRING 2020- Some selected…

A: It is assumed that the company makes only credit sales. Net credit sales = Sales - Sales returns =…

Q: Given below is AU Chiefs Company's financial statements. Compute for the financial rations and show…

A: The ratio analysis helps to analyse the financial statements of the business.

Q: Garnet Company reported the following on its income statement: Income before income taxes $450,000…

A: Times interest earned ratio = Earnings before interest and taxes / Interest expense Earnings…

Q: Calculate net profit from the following? Net sales OMR 100000, Cost of goods sold OMR 40000, Rent…

A: Gross profit = sales - cost of goods sold = 100000 - 40000 = OMR 60000

Q: LeGrand Corporation reported the following amounts in its income statement: Sales revenue…

A: Interest expense and income tax expense are not operating expenses. Sales - Cost of goods sold =…

Q: + Question:8 Sales COGS Gross profit G&A expenses Sales & Marketing expenses Depreciation Operating…

A: Using the values in the table; 1. Calculate SalesSales = Gross profit + COGSSales = $1,600,000 +…

Q: Original Cost of Investment Selling Price of Investment Distributions Investment Received Dollar…

A: Dollar profit / Loss = Selling Price Of Investment + Distributions Received - Original Cost Of…

Q: OR Extract of Balance sheet items as at 31 December 2019 0000 Building 3500 Account receivables…

A: ‘’Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: What is Ella Company’s debt ratio? a. 25.78% d. 137.78% b. 100.00% e. 34.74% c. 74.22%

A: Debt ratio is the proportion of total debts of a company to the total assets of the company. It…

Q: QWC 2016 $000 2017 $000 2018 $000 2019 $000 2020 $000 2021 $000 Current ratio 0.66…

A: QWC 2016 2017 2018 2019 2020 2021 Current ratio 0.66 0.58 0.96 0.92 1.06 0.83 Quick ratio 0.43…

Q: wbwne not use ai

A: The acid-test ratio, also known as the quick ratio, is a liquidity ratio that measures a company's…

Q: The following amounts were taken from the financial statements of Oriole Company: 2017 2016 Current…

A: Time interest earned ratio indicates the ability of the company to payout its debt obligation by…

Q: Sale to private entities subject to 12 Sale to private entitices subject to 0' Sale to government…

A: Tax refers to the compulsory charge levied on the sum value of money gained by an entity by the…

Q: be the net income? a. 72000 b. 56000 c. 16000 d. 338000 Clear my choice Question 43 Not yet answered…

A: The trial balance consists of all the items of business transactions. It has assets, liabilities,…

Q: Balance Sheet Equity APIC Events Assels Liab Acct Payable Div Payable Notes Payable Cash 257.000.00…

A: >Statement of Stockholder's equity includes the changes made to the 'equity' component of Balance…

Q: The Beneke Corporation reported the following data: Cash Accounts Receivable Inventory Equipment…

A: Assets :— It is the resources owned by company on specific date. Liabilities :— It is the…

Q: Use the following information from separate companies a through d: Net Income (Loss) Interest…

A: The times interest earned (TIE) ratio, also known as the interest coverage ratio, is a financial…

Q: Question C5 Majan Ltd income statement for the year ended 31st Dec 2020 and the balance sheets as…

A: Cashflow statement of Majan Ltd Particulars Amount (OMR in million) Profit after tax 67 Add:…

Q: Sales Cost of Sales Gross Profit Operating Expenses (b) Net Income P75,000 (a) P40,000 P17,000

A: Gross profit is the difference between sales and cost of sales. Net Income is the difference between…

Q: 34 The following applies to this question: DEBTORS CONTROL Mar 1 Balance b/f 90 000 Mar 31 Bank A…

A: Debtors are the accounts on which business has made credit sales on account. With every sales,…

Q: Presented below is a combined single-step income and retained earnings statement for Hardrock Mining…

A: Income Statement: An income statement is a financial document that tells you how much money the firm…

Q: Category Prior Year Current Year Accounts payable 3,185.00 5,915.00 Accounts receivable 6,960.00…

A: Cash flow from operating activities (CFOA) is like the money flow generated or spent on the…

Q: 1 1 1 1 1 3 1 Quick Ltd Revenue Cast of sales Distribution cost Admin expense. Interest Raceved…

A: The cash inflows and outflows that are directly connected to a business's main operating activities…

Q: Baker Industries' net income is $27000, its interest expense is $5000, and its tax rate is 40%. Its…

A: Net Income = ni = $27,000Interest Expenses = i = $5000Tax rate = t = 40%notes payable = np = $27,000…

Q: Exercise 3-9. Preparation of Statement of Profit or Loss and distribution of net income The…

A: A profit and loss (P&L) statement is a type of financial statement gives a general summary of…

Q: GHT Corporation reports the following amounts in its December 31, 20XD income statement: I5950.000…

A: Net Sales=Sales-Sales Returns & Allowances-Sales Discounts Gross Profit=Net Sales-Cost of Goods…

Q: Revenue 50272 Cost of goods sold 37523 Selling expenses 10325 Beginning Retained earnings 6372…

A: Financial information refers information which satisfies the needs of common group of users,…

Q: Current Attempt in Progress The following information is available for Blossom Corp. for the year…

A: Multi-step income statements are prepared by representing the income and expenses into different…

Q: Net sales OR 207000 Cost of the goods sold OR 165000 Closing Stock OR 8700 Details Debit…

A: Solution:- Introduction:- Calculation of gross profit as follows under:-

Q: Count of Postal Code Low Medium 5.71K High 3.07K Critical 0.78K Count of Postal Code by Segment 6K…

A: The "Postal Code Dashboard MANDHR" provides a detailed analysis of postal codes based on different…

Q: Balance Sheet Equity APIC Events Assels Liab Acct Payable Div Payable Notes Payable Cash 257.000.00…

A: The balance sheet is one of the important financial statement of the business, which represents the…

Q: Net Sales 36000 Commission received 6430 Interest received 3570 Cost of goods sold 7400…

A: Net Sales 36000 Commission received 6430 Interest received 3570 Cost of goods sold 7400 Dividends…

Q: Excerpts from Andre Company's December 31, 2024 and 2023, financial statements are presented below:…

A: Debt to equity ratio is the measure which helps the entity to determine the amount of debt funds…

Q: Verify analyst claims while supporting your answers with relevant calculations Comment on overall…

Question

Net Sales 36000

Commission received 6430

Interest received 3570

Cost of goods sold 7400

Dividends received 2220

From the above information the total income will be:

a.
OMR 41280

b.
OMR 42820

c.
OMR 48220

d.
OMR 40820

Fast plz***********

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

A. 14.44% B. 22.11% C. 18.95% D. 16.00%
How to calculate gross profit percentage will be mItaned
Please calculate the following ratios • Asset Turnover (Net Sales / average total assets)• Current Ratio• ROAAssignment:
17-
Account$ 51,000Accounts payable$33, 700 Land Notes payable49,000Accounts receivable 71, 2000perating expenses 102,000Building86, 500Prepaid insurance3.100Cash3, 200Service revenue172.000Equipment35, 700Unearned revenue 3,000J. Koizumi, capitalJ. Koizumi, drawings99, 0004, 000(c) Determine the amount overKoizumi Kollections has the following alphabetical list of accounts and balances at July 31. 2017:
Locker Rent 3500 Income from Government securities 2274 Interest on deposits 473 Transfer fees received 576 Rent and Lighting 767 From the above information Total Non-Interest income will be: a. OMR 5790 b. OMR 6350 c. OMR 6530 d. OMR 7590
tion 8Income statement for the year ended 31 December, 2019 of KKMTN Ghana Ltd2018 2019ȼ ‘000 ȼ ‘000Turnover 420,000 523,600Cost of sales (330,000) (417,200)Gross profit 89,000 106,400Expenses:Administration 44,600 50,200Selling and distribution 15,400 (60,000) 19,600 (69,800)Profit before interest 29,000 36,600Debenture interest - (2,800)Net profit before tax 29,000 33,800Taxation (8,000) (10,000)Net Profit after tax 21,000 23,800Ordinary dividend paid 8,400 9,250Ordinary shares issued 12 million and trading at ȼ3 each as at yesterday onGSE.You are required to compute the following investment ratios:a). Earnings per shareb). Dividend per sharec). Payout ratiod). Price earnings ratioe). Earnings yield
Calculate the net profit from the following? Net sales OMR 100000, Cost of goods sold OMR 40000, Rent received OMR 20000, Salaries OMR 10000, Insurance OMR 6000 and Depreciation OMR 8000. a. OMR 16000 b. OMR 60000 c. OMR 56000 d. OMR 66000
Exercise 13-3 (Algo) Computing and analyzing trend percents LO P1 Sales Cost of goods sold Accounts receivable. 2021 $ 706,675 363,004 34,274 2020 2019 $464,918 $ 371,9341 238,808 193, 136 27,058 25,477 2018 $ 260,094 133,898 15,268 2017 $ 194, 100 98,991 13,296 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable.
jDL Coroproation Selected Financial Data as at december 21,2016 Current asset 2,50,000$ Current Liabilities 1,50,000$ Inventories 60,000$ Accounts Receivable 45,000$ Revenue 9,50,000$ Cost of Good Sold 6,75,000$ Note: Ignore averaging for this question JDL's Quick ratio is: 1 0.8 2.45 1.27 JDL's average collection period is: 8 days 11 days 17 days 20 days JDL's inventory turnover is: 9.50 times 11.25 times 4.50 times 5.43 times JDL's receivables turnover is: 24.34 times 22.56 times 21.11 times 20.11 times
A28
ff1