please answer within the format by providing formula the detailed working Please provide answer in text (Without image) Please provide answer in text (Without image) Please provide answer in text (Without image)   Information on the activities of Pharoah Toys Ltd. Is as follows:                                         2020 2021 2022 2023 2024         Cost of goods sold 9,25,360 9,62,870 11,34,710 12,69,310 13,78,630         Average Inventory 1,23,750 1,56,770 2,16,150 3,31,460 4,63,580                             A. Do a trend analysis of the inventory turnover for each year. Also, calculate the days to sell inventory ratio for the respective years                                         Inventory Turnover Number of Days               2020                   2021                   2022                   2023                   2024

Q: 1.1 REQUIRED Use the first-in-first-out (FIFO) method to complete the table provided below for the…

A: FIFO stands for first-in-first-out. It is a inventory valuation method. In this method the old good…

Q: 1.6 The following information was extracted from the records of Boyle Stores for May 2020: May Units…

A: First in First Out (FIFO Method) - It refers to the method of inventory valuation, under which units…

Q: REQUIRED Use the first-in-first-out (FIFO) method to complete the table provided below for the…

A: FIFO stands for first-in-first-out. It is a inventory valuation method. In this method the old good…

Q: 14. The following data pertain to Alpha Company for the month of June 2018: Finished Goods, June 1,…

A: Answer:

Q: The following information is available for the Century Trading:   Product A B C D Cost $102 $45…

A: Net Realizable Value = Estimated sales price - Estimated disposal costs Net Realizable Value Product…

Q: 4. Eng Tat is a manufacturer. His trial balance as at 31 December 2020 is as follows: Particulars…

A: Operating expenses are those expenses that are incurred for normal business operations like rent,…

Q: Problem 13-02A (Video) The comparative statements of Cullumber Company are presented here:…

A: A) Net income/ number of outstanding common stock   Net income = 213500. Common stock value (Par…

Q: Note that this was everything given for this particular item.   Use the information below to figure…

A: Inventory valuation is based on the flow of exemption used by the company. There are many methods…

Q: Sales revenue Cost of goods sold Beginning inventory Purchases Goods available for sale Ending…

A: Statement of cash flows: It is a financial statement that shows the increase or decrease in the cash…

Q: lower-of-cost-or-market approach,

A: It is pertinent to note that inventory need to be valued at cost of net realizable value whichever…

Q: 1.5 From the information provided below complete the table using the FIFO method of inventory…

A: Inventory valuation is the technique of recording the value of inventory at the time of receiving…

Q: Using the Cost of Goods Manufactured calculated in your sch cgm worksheet and adding data needed…

A: Cost of goods sold include the cost of goods that are sold during the period. Cost of goods sold =…

Q: AMOUNT REF# ACCT TITLES DEC 31 2020 1 ACCOUNTS PAYABLE 66,500 2 ACCUMULATED DEPRECIATION - EQUIPMENT…

A: Net Purchase=Purchase revenue-Purchase returns & allowances+Purchase…

Q: EE19.8 (LO 2) Vertical analysis (common-sizc) pereentages for Palau Company's salcs revenuc, cost of…

A: Vertical analysis means the analysis done with the common size income statement in which the data…

Q: The Income statement of Vince Gill Company is shown below. VINCE GILL COMPANY INCOME STATEMENT FOR…

A: Statement of cash flows: This statement reports all the cash transactions which are responsible for…

Q: Hempstead Company has the following data for 2019: Item Units Cost Inventory, 12/31/2018 990…

A: The cost of goods sold is the amount of cost incurred to produce the units sold by the business. It…

Q: The following information is taken from a company’s records.   Cost per Unit Market value per Unit…

A: Total cost = No. of units x Cost per unit Total market value = Market value per Unit x Cost per unit

Q: Exercise 6-43 (Algorithmic) Applying the Cost of Goods Sold Model The following amounts were…

A: Cost of Goods Sold is the cost of producing the goods, and it consists of direct materials, direct…

Q: Applying the Cost of Goods Sold Model Charest Company has the following data for 2022: Item Units…

A: Number of units sold = Opening inventory + Purchases - Closing Inventory. Under cost of goods sold…

Q: Applying the Cost of Goods Sold Model The following amounts were obtained from the accounting…

A: Cost of Goods Sold=Beginning Inventory+Net Purchases-Ending Inventory

Q: Required: a. Complete a subsidiary ledger record for the computer using each of the three inventory…

A: Solution a: Computation of COGS and ending inventory - Periodic Weighted Average cost method…

Q: BONITA COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue       $6,470,000…

A: For preparing a cash flow statement(operating activity), all the non-cash expenses are added to…

Q: Current Attempt in Progress The cost of goods sold computations for Flint Company and Pina Colada…

A: INTRODUCTION: The investment turnover ratio informs investors about how well a firm uses its…

Q: What is the G/L account number for Inventory-Suspense (Heaven)?

A: Answer: A. 200500

Q: On January 1, 2018, Sato Company adopted the dollar-value LIFO method of inventory costing. Sato's…

A: Date Inventory at end of the year Price Index Inventory at Base year Change from Prior year 2018…

Q: Partial income statements for Sherwood Company summarized for a four-year period show the following:…

A: A partial income statement presents data for only a portion of a standard accounting period. This…

Q: The following information is taken from a company’s records.   Cost per Unit Market value per Unit…

A: Inventory = 10×$38+22×$19+12×$9 = $380+$418+$108 = $906

Q: Required: Compute the net sales, cost of goods sold and gross profit for the following information…

A: Gross Profit: The profit a company generates after deducting all costs associated with making and…

Q: production for the year ended 31 December 2 prehensive income for the year ended 31 Dece cial…

A:

Capital Gain

Any capital asset when sold can give the seller a higher or lower price from its purchase price leading to a capital gain or capital loss. The time period of holding an asset is decided based on if it is a long term or short-term capital gain. On that basis, the rate of taxation is decided if it is 20%, 15% or according to the tax brackets. The rate of taxation differs in the case of equity or debt, whether long or short term. The capital gain can be adjusted from capital loss to arrive at a net capital gain. The amount of gains and the exemption has to be reported in the tax return filed in the financial year in which the asset was transferred. The tax return can be filed quarterly, monthly, semi-annually or annually.