Make a statement of comprehensive income. PROBLEM #4 THE FOLLOWING ARE THE ACCOUNTSC OF REGINA MERCHANDISING FOR JULY 31, 2016• SALESP2,500,000• SALARIES EXPENSEP50,000• SUPPLIES EXPENSEP75,000• DEPRECIATION EXPENSEP60,00025% SALES75% ADMINISTRATIVE• UTILITIES EXPENSEP42,000P28,000• INSURANCE EXPENSEP46,000• RENT EXPENSE50,500BEGINNING ILNVENTORYP1,375,000• PURCHASESP125,000ENDING INVENTORYP8250• SALES DISCOUNT

The question is based on the concept of Financial Accounting.

Answered: PROBLEM #4 THE FOLLOWING ARE THE…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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YE3tcuBfirwShOSzu2prZ7nd44k0L-w/formResponse?pli=1 e following to answer the five questions below: owing accounts are extracted from the worksheet of X Company on ber 31, 2020 Sales Retums and Allowances S 410,000 Sales Discount 140,000 Sales 1,500,000 Salaries Expenses - Sales 52,000 Rent Revenue 22,000 Purchases Retums and Allowances 120,000 Purchases 600,000 Loss from write down of Inventory 17,000 Inventory, January 1, 2020 460,000 Interest Expense A 55,000 Gain from Sale of Building 23,000 Freight-out 14,000 Freight-in 30,000 Depreciation Expense - Sales 22,000 Cost of Goods Sold 600,000 n the data above, the inventory account sho ed a holon
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Calculate the profit margin (net income or net profit/total sales)for Rock Castle construction for this fiscal year. What’s the percentage
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Income Statement For the Year Ending December 31, 20X1Sales (on credit)$ 2,106,000Cost of goods sold1,371,000Gross profit$ 735,000Selling and administrative expenses561,000*Note asteriskOperating profit (EBIT)S 174,000Interest expense33,900Earnings before taxes (EBT)S 140,100Taxes83,300Earnings after taxes (EAT)S 56,800*Selling and administrative expenses Note asteriskIncludes $42,700 in lease payments. Using the above financial statements for the Jackson Corporation, calculate the following ratios. Profitability ratios. Note: Do not round intermediate calculations. Input your answers as a percent rounded to 2 decimal places.
Use the given financial information of BAB's Industry below. Average Accounts Receivable P90,000.00 Average Accounts Payable P700,000.00 Beginning Inventories 300,000.00 Net Sales 2,000,000.00 Ending Inventories 500,000.00 Gross Profit Margin 25% How much is the gross profit? P1,500,000 P1,000,000 P500,000 D P2,000,000
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A financial analyst for Simon Manufacturing prepared the following report: Customers Customer-Level Operating Income Customer Revenue A $5041.00 $26,250 B $4202.00 $30,000 C $3368.00 $15,000 D $1069.50 $7,300 E $984.80 $5,100 F $844.80 $4,400 G $336.60 $1,800 H $252.00 $4,500 I ($168.00) $2,400 J ($676.00) $2,600 What is the cumulative customer-level operating income as a percentage of customer level operating income for the top 4 most profitable (operating income) customers? 1) 17.4% 2) 89.7% 3) 85.0% 4) 79.1%
- Chapter 8 Saved Help Save Selected financial statement data from Western Colorado Stores is shown below. 2021 2020 Net sales Cost of goods sold Operating expenses Inventory $975, 000 780, 000 110,000 130, 000 $995, 000 800,000 90,000 110, 000 Required: 1. Compute the gross profit ratio for 2021. (Round your "Percentage" answer to two decimal places (i.e., 0.1234 should be entered as 12.34).) 2. Compute the inventory turnover ratio for 2021. (Round your answer to two decimal places.) 1Gross profit ratie- 2 Inventory tumover ratio

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PROBLEM #4 THE FOLLOWING ARE THE ACCOUNTS OF REGINA MERCHANDISING FOR JULY 31, 2016 SALES P2,500,000 • SALARIES EXPENSE P50,000 • SUPPLIES EXPENSE P75,000 • DEPRECIATION EXPENSE P60,000 25% SALES 75% ADMINISTRATIVE • UTILITIES EXPENSE P42,000 P28,000 • INSURANCE EXPENSE P46.000