October November December Opening stock (units) 100 120 150 Closing stock (units) 120 150 130 Sales (units) 500 450 520 The cost of stock is £10 per unit with 40% of purchases for cash, 30% paid in the month after purchase and 30% paid two months after purchase. The amount of purchases in October were A £4,400 B £4,800 C £5,200 D £5,600

October November December Opening stock (units) 100 120 150 Closing stock (units) 120 150 130 Sales (units) 500 450 520 The cost of stock is £10 per unit with 40% of purchases for cash, 30% paid in the month after purchase and 30% paid two months after purchase. The amount of purchases in October were A £4,400 B £4,800 C £5,200 D £5,600

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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Mk. 219.
A company has estimated sales of 25,000 units. There are 12,000 units of opening stock, while the closing stock is planned to be 18,000 units. Estimate the production is needed to satisfy the sales? a. 31,000 units b. 19,000 units c. 55,000 units d. 5,000 units
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November December January February March Actual Actual Forecast Forecast Forecast 80 000 150 000 180 000 240 000 300 000 • The cash from sales are received as follows: o 30% in the month of sale o 40% 1 month after sale o 30% 2 months after sale • Purchases are 65% of sales • Cash purchases are made in the following manner: o 20% cash in the month of purchase o 40% 1 month after purchase o 40% 2 months after purchase • Cash dividends of R15 000 was received in January • Rentals of R7 500 are due and paid at the end of each month • The company has 1 salaried employee who is paid each month • Wages incurred and paid equate to 8% of the previous months sales • The company bought a new machine in March for R250 000. Only a deposit of R130 000 was due and payable in March • A provisional tax payment of R30 000 was made at the end the February • R15 000 interest was paid against the company’s bank account in February • Dividends declared at the end of March amounted to R20 000. A 1st payment…
24 - 25Sales for the year amount to PHP100.000. Accounts receivable amount to PHPT2,000. What is the average collection period assuming annual data are used? What is the average collection period assuming quarterly data are used? 26 - 28 The quick ratio is 1.7 while the current ratio is 2.5. The current liabilities amount to PHP5,000. Cost of goods sold is PHP52,500. What is the inventory turnover? Average age of inventory? 29 - 31. Beginning inventory is PHP2,000 while ending inventory is PHP5,000. Cost of goods sold is double the ending inventory and accounts payable is PHP4,000. What is accounts payable turnover? Average payment period? ESSAY 32 - 34. Ending inventory is PHP13,000 while accounts payable is PHP2,500. Purchases were half the ending inventory. What is accounts payable turnover? Average age of payables? 35 - 37 Current assets amount to PHP30,000 while noncurrent assets are PHP50,000, Sales amount to PHP200,000. What is the total asset turnover? 38 - 40. Based on your…
Inventory Turnover Ratio 6 Times Creditors Turnover Ratio 10 Times Debtors Turnover Ratio 8 Times Current Ratio 2.4 Gross Profit Ratio 25% Total sales 30,00,000; cash sales 25% of credit sales; cash purchases 2,30,000; working capital 2,80,000; closing inventory is 80,000 more than opening inventory. You are required to calculate: Average Inventory Purchases
# 2 The table below highlights Deluna Company's expected sales Month RM January 100,000 February 120,000 March 110,000 The collection on sales for Deluna Company is structured in the following manner: • In the month of sale - 30 percent • One-month after-sale - 60 percent • Two months after-sale - 8 percent • Uncollectible bad debt - 2 percent Compute the total cash receipts in March:
Question: 129 A company plans to purchase inventory for the second half of 2014 as follows: July $ 1,00,000 August $ 75,000 September $ 2,25,000 October $1,25,000 November $ 2,50,000 December $ 30,000 They usually pay 50% of inventory purchases in the month of purchase, 35% in the following month, and 15% in the second month. Based on the information, what are the forecasted December cash payments? a. $15,000 b. $18,750 c. $87,500 d. $121,250
me EOQ, reorder point, and safety stock Alexis Company uses 905 units of a product per year on a continuous basis. The product has a fixed cost of $49 per order, and its carrying cost is $5 per unit per year. It takes 5 days to receive a shipment after an order is placed, and the firm wishes to hold 10 days' usage in inventory as a safety stock. a. Calculate the EOQ. b. Determine the average level of inventory. (Note: Use a 365-day year to calculate daily usage.) c. Determine the reorder point. d. Indicate which of the following variables change if the firm does not hold the safety stock: (1) order cost, (2) carrying cost, (3) total inventory cost, (4) reorder point, (5) economic order quantity. ents un a. Alexis' EOQ is units. (Round to the nearest whole number.) eText edia Librai al Calculat r Resource Enter your answer in the answer box and then click Check Answer. ic Study 3 parts remaining es Clear All Check Answer unication Tools > OK 10 Type here to search 5/1 insert
Chatsworth Company Month Expected Sales July $40,000 August $50.000 September $30,000
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