Q7: If the inventory of raw materials at( 1/1) is 75,000, and the inventory of raw materials at (31/12) is 65,000, and the company's purchases of raw materials have a value of 125,000 dinars, what will be the value of the direct raw materials used? If you know that the company returned a portion of its purchases with a value of 10,000 dinars, and that it obtained .a purchases discount of 5,O00 dinars

Q7: If the inventory of raw materials at( 1/1) is 75,000, and the inventory of raw materials at (31/12) is 65,000, and the company's purchases of raw materials have a value of 125,000 dinars, what will be the value of the direct raw materials used? If you know that the company returned a portion of its purchases with a value of 10,000 dinars, and that it obtained .a purchases discount of 5,O00 dinars

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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ail, and cost indexes for 2024 and 2025 are as follows: 2024 2025 Cost Retail Cost Retail Beginning inventory $ 39,200 $ 56,000 Net purchases 92,600 116,000 $ 104,166 $ 128,400 Freight-in 2,800 3,300 Net markups 14,000 9,600 Net markdowns 2,800 3,000 Net sales to customers 113,355 117,120 Sales to employees (net of 20% discount) 3,300 5,280 Price Index: January 1, 2024 1.00 December 31, 2024 1.06 December 31, 2025 1.10 Required: Estimate the 2024 and 2025 ending inventory and cost of goods sold using the dollar-value LIFO retail inventory method.
Q10: What is 2021 Gross Margin Percentage?
K110.
solve The Arc 95-9876556 Income Statement For the Year Ended December 31, 2021 Revenue: Gross Sales $144,000.00 Less: Sales Returns and Allowances - Net Sales $144,000.00 Cost of Goods Sold: Beginning Inventory $10,500.00 Add: Purchases 62,200.00 $72,700.00 Less: Ending Inventory 10,100.00 Cost of Goods Sold 62,600.00 Gross Profit (Loss) $81,400.00 Expenses: Dues and Subscriptions - Estimated Federal Tax Payments 4,000.00 Estimated State Tax Payments 3,900.00 Insurance 3,950.00 Meals and Entertainment 1,500.00 Miscellaneous - Payroll Taxes 3,800.00 Professional Fees 1,700.00 Rent 8,400.00 Travel 1,250.00 Utilities 1,300.00 Vehicle Expenses - Wages 25,000.00 Total Expenses 54,800.00 Net Operating Income $26,600.00 How to calculate capital gain step by step answer
24,600 с. Finished goods RM28,840 Required: O Prepare statement of cost production for the year ended 31 December 2020. O Prepare statement of comprehensive income for the year ended 31 December 2020. Eng Tat is a manufacturer. His trial balance as at 31 December 2020 is as follows: Particulars Debit RM 1,760 Credit RM Delivery van expenses Lighting and heating: Factory Office Manufacturing wages General expenses: Factory Office Sales representatives : Commission Purchase of raw materials Rent: Factory Office Machinery (Cost : RM40,000) Office equipment (RM9,000) Office salaries Accounts receivables Account payables Bank Sales Van (cost RM6,800) Inventory at 3+December 2020: Raw materials Finished goods Drawings Capital 7,220 1,490 72,100 8,100 1,940 11,688 57,210 6,100 2,700 28,600 8,200 17,740 34,200 9,400 16,142 194,800 6,200 13,260 41,300 24,200 155,950 360,150 360,150 ТОTAL
1. Gross Purchases 2. Net Purchases 3. Raw Materials put into production
Qq.12. Subject :- Account
If financial statements are restated using 2020 price level in accordance with constant peso accounting, how much would be the Gain on purchasing power? Note: Purchasing power loss or gain is an increase or decrease in how much consumers can buy with a given amount of money. Consumers lose purchasing power when prices increase and gain purchasing power when prices decrease.
N5. Account
2. A company has inventory on hand at year-end (31 December 2021) that it expects to be able to sell in the ordinary course of business for Rs. 10,000. The cost of these inventories is Rs: 7,000. In order to sell this inventory, the company expects to incur selling costs of Rs. 2,000 and expects to incur further costs of Rs. 3,000 to put this inventory into a saleable condition. Required: a. Calculate the net realizable value b. Calculate any possible write-down and c. Journalize any write-down necessary. d. Show where the write-down would be included and disclosed in the financial statements.
Hh1. just Item E and Item G
On 1/4/2019, foodstuffs of two types were imported by the General Company for Foodstuffs, and their data were: Material K = 20 tons, the price was 150 materials, L = 50 tons, and the price was 100. As for the expenses paid, the purchase commission is 24 dinars by the bank, communication fees 80 dinars, customs fees of 120 dinars. Required // Find the cost per ton? If you know that the quality of the two types is the same. *