Power Company's income statement for 2021 isgiven below. If inventory balances are 10000 in2021 and 4000 in 2020, and if accountspayables balances are 15000 in 2021 and 2000in 2020. Which of the following is cash paymentfor COGS (cash inputs)?Sales75,000-СOGS55,000Gross Profit20,000-OperatingExpenses8,000Operating Profit12,000-Interest Expense2,000Profit before Tax10,000-Тах3,000Net Profit7,000Select one:а.48000b. 50000c. 43000d. 69000

Cost of goods sold means that value of opening stock plus purchases minus closing stock.

Answered: Power Company's income statement for…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 12MCQ: Smoltz Company reported the following information for the current year: cost of goods sold,...

See similar textbooks

Similar questions

Power Company's income statement for 2021 is given below. If inventory balances are 5000 in 2021 and 9000 in 2020, and if accounts payables balances are 7000 in 2021 and 12000 in 2020. Which of the following is cash payments for COGS (cash inputs)? Sales 75,000 -COGS 55,000 Gross Profit 20,000 -Operating Expenses 8,000 Operating Profit 12,000 -Interest Expense 2,000 Profit before Tax 10,000 -Tax 3,000 Net Profit 7,000 Select one: a. 54000 b. 56000 c. 59000 d. 63000 Clear my choice ◄ CLO ASSESSMENT
Power Company's income statement for 2021 is given below. If inventory balances are 5000 in 2021 and 9000 in 2020, and if accounts payables balances are 7000 in 2021 and 12000 in 2020. Which of the following is cash payments for COGS (cash inputs)? Sales 75,000 -COGS 55,000 Gross Profit 20,000 -Operating Expenses 8,000 Operating Profit 12,000 -Interest Expense 2,000 Profit before Tax 10,000 - -Tax 3,000 7,000 Net Profit
Dhofar Company's income statement for 2020 is given below. If Accounts receivable balances are 14000 in 2020 and 8000 in 2019. Which of the following is cash collections from customers? Sales 50,000 -COGS 30,000 Gross Profit 20,000 -Operating 8,000 Expenses Operating Profit -Interest Expense 12,000 2,000 Profit before Tax 10,000 -Tax 3,000 Net Profit 7,000 Select one: a. 44000 Б. 56000 OC. 54500 d. 61500
(a) Following are the partial balance sheet and some assumptions for Kiri-Kanan Company for 2021. Gross profit margin = 50% Inventory turnover 5 Sales (2021) = = RM3,000 Assets Cash Accounts receivables Inventory Net fixed assets Total assets ? RM40 2 RM500 RM900 Cash Accruals Inventory Based on the information provided, calculate Kiri-Kanan's (1) (11) Liabilities & Equity Accounts payables Accruals Long-term debt Total Liabilities & Equity Current ratio Equity Total Liabilities & Equity (1) (iv) (v) (vi) Quick Ratio (Complete the balance sheet table and show all steps of calculations) 4 RM50 ? RM400 250 ?
The 2021 income statement of Adrian Express reports sales of $14,097,000, cost of goods sold of $8,154,000, and net income of $1,540,000. Balance sheet information is provided in the following table. ADRIAN EXPRESSBalance SheetsDecember 31, 2021 and 2020 2021 2020 Assets Current assets: Cash $ 540,000 $ 700,000 Accounts receivable 1,280,000 940,000 Inventory 1,680,000 1,340,000 Long-term assets 4,740,000 4,180,000 Total assets $ 8,240,000 $ 7,160,000 Liabilities and Stockholders' Equity Current liabilities $ 1,960,000 $ 1,600,000 Long-term liabilities 2,240,000 2,340,000 Common stock 1,880,000 1,880,000 Retained earnings 2,160,000 1,340,000 Total liabilities and stockholders' equity $ 8,240,000 $ 7,160,000 Industry averages for the following four risk ratios are as follows:…
Power Company's income statement for 2021 is given below. If Accounts receivable balances are 4000 in 2021 and 14000 in 2020. Which of the following is cash collections from customers? Sales 75,000 -COGS 55,000 Gross Profit 20,000 -Operating 8,000 Expenses Operating Profit -Interest Expense 12,000 2,000 Profit before Tax 10,000 Tax 3,000 7,000
Phina A. Asa Trading gives you the following information for the year ended December 31,2019 a. Cost of Sales (60% of sales) Php. 57,600.00 b. Cash sales ? 79,160.00 7,000.00 10,275.00 4,000.00 6,500.00 2,138.00 c. Cash paid to suppliers d. Paid taxes e. Purchased equipment f. Paid dividends g. Proceeds of loan Cash, beginning 01/2019 Note: Sales are recorded under cash basis.
Here is some financial statement data for Nestlé (in millions of Swiss francs): After reviewing the information, calculate the following ratios for Nestlé for 2021:1) Inventory turnover2) Profit margin3) Return on assets4) Free cash flowRound all answers to two decimal places. Do not include dollar signs because Nestlé's accounting information is in Swiss francs. Show the calculations for each answer.
Compute the following ratios and measurements for 2020: 1. Cash flow from Operations to Current Liabilities 2. Rate of Return on invested capital 3. Cash flow from Operations to Total Liabilities
The 2021 income statement of Adrian Express reports sales of $15,960,000, cost of goods sold of $9,600,000, and net income of $1,600,000. Balance sheet information is provided in the following table. ADRIAN EXPRESS Balance Sheets December 31, 2021 and 2020 2021 2020 Assets Current assets: Cash Accounts receivable $ 600,000 $ 760,000 1,400,000 1,800,000 4,800,000 $8,600,000 1,000,000 1,400,000 4,240,000 $7,400,000 Inventory Long-term assets Total assets Liabilities and Stockholders' Equity Current liabilities $2,020,000 2,300,000 2,000,000 2,280,000 $8,600,000 $1,660,000 2,400,000 2,000,000 1,340,000 $7,400,000 Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity Industry averages for the following four risk ratios are as follows: Average collection period Average days in inventory Current ratio 25 days 60 days 2 to 1 50% Debt to equity ratio
please anwer all the questions i have mentioned below : - A company has the following items for the fiscal year 2020: Cash = 2 million Marketable securities = 3 million Account receivables (A/R) = 1.5 million Inventories = 8.5 million Total current liabilities = 8 million Calculate the company’s current ratio and quick ratio 2. Write the formula for the following ratios and what each ratio measures: Asset turnover Inventory Turnover and Days Inventory Receivable Collection Period 3. Write down the DuPont framework. How would you explain to your non-MBA non-Finance friend about the DuPont framework and why it is important?
Hamad Corporation's total sales for 2022 were AED 800 million, and gross profit was AED 100 million, current assets AED 200 , cash AED 10 million, accounts receivables 90 million and account payable 40 million. Calculate accounts payable days , collection period, inventory days and accounts payable turn over.

SEE MORE QUESTIONS

Recommended textbooks for you

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS