Question 3:As at 31 May 20X1 and 31 May 20X2 Castle ple had the following summarised figuresRevenueOpening stockPurchasesClosing stockCost of salesGross profitDepreciationOther operating expensesOperating profitInterest expenseProfit before taxCITProfit for the yearNCA - costPrepaymentsTrade receivablesInventoriesCashTrade payablesAccrued Tax LiabilityLong term loanShared capitalShared PremiumRetained earnings20X1210.00024.00096.000(30.000)(90.000)120.000(12.000)(60.000)48.000(2.400)45.600(9.120)36.48054.0002.40018.00030.00012.00066.00031.20036.00012.00024.00018.00020X2240.00030.000120.000(54.000)(96.000)144.000(18.000)(48.000)78.000(6.000)72.000(14.400)57.60066.0004.80066.00054.000?60.0009.12060.00048.00036.00051.600Required:Prepare a statement of cash flows for the year ended 31 May 20X2 in accordance with IAS 7

A cash flow statement is defined as one of the financial statements that shows the flow of cash…

Answered: Question 3: As at 31 May 20X1 and 31…

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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QUESTION 2 Stock valuation The following transactions of Unilever Ghana Limited relate to May 2022. Quantity (units) Unit cost GHe TC GHe Market value per unit on date of transaction GH Opening balance, 1 100 May Receipts, 3 May 400 Issues, 4 May 200 Receipts, 9 may 300 Issues, 11 May 400 Receipts, 18 May 100 Issues, 20 May 100 Closing balance, 200 31 May 2.00 2.10 2.12 2.40 200 840 636 240 2.11 2.11 2.15 2.20 2.35 2.35 2.38 Required: Find the cost of issues and the closing stock value in the above transactions using a) FIFO b) LIFO c) Average cost method
MC Qu. 11-183 A company reported net income... Brandies, Inc. reported net income of $10.32 million. At the beginning of the year, 4.2 million shares of common stock were outstanding and at the end of the year, 4.4 million shares were outstanding. No dividends were declared. The EPS is approximately: Multiple Choice $2.40. $2.35. $2.46. $1.20.
Question 8: The following Trading and Profit and Loss Account of Fantasy Ltd. for the year 31-3-2000 is given below: Particular To Opening Stock "Purchases "Carriage and Freight " Wages Gross Profit b/d To Administration expenses "Selling and Dist. expenses "Non-operating expenses "Financial Expenses Net Profit c/d Calculate: 1. Gross Profit Ratio 1. Net Profit Ratio Rs. 76,250 By Sales 3,15,250 2,000 5,000 2,00,000 5,98,500 Particular "Closing stock 1,01,000 By Gross Profit b/d 12,000 "Non-operating incomes: 2,000 "Interest on Securities 7,000 "Dividend on shares 84,000 "Profit on sale of shares 2,06,000 2. Expenses Ratio 3. Operating Ratio 5. Operating (Net) Profit Ratio 6. Stock Turnover Ratio. Rs. 5,00,000 98,500 5,98,500 2,00,000 1,500 3,750 750 2,06,000
jitu
am. 11.
A B 1 Purchase price per share $57 2 Total commission $35 3 Dividend at year 1 $1.80 4 Dividend at second year $1.93 5 Number of shares bought 100 6 Total purchase price =B5*B1 7 Purchase price with commission =B6+B2 8 Selling price at the end of second year $59 9 Total selling price |=B8*B5 10 Commission on selling $44 11 Selling price net of commission =B9-B10 12 Total dividend in year 1 =B3*B5 13 Total dividend in year 2 =B4*B5 14 (a) Dividend yield at purchase =B12/B6 15 (b) Dividend yield at sale =B13/B9 16 (c) Total return |=B11+B12+B13-B7 17 Holding period return 18 (d) Annualized holding period yield =B16/B7 =(1+B17)^(1/2)-1
what does the percentages mean in vertical analysis? Year 4 % of Sales Year 3 % of Sales Assets Current Assets Cash $ 40,000 6.67 $ 36,000 6.67 Marketable Securities 20000 3.33 6000 1.11 Accounts Receivable 54000 9.00 46000 8.52 Inventories 135000 22.50 143000 26.48 Prepaid Items 25000 4.17 10000 1.85 Total Assets current 274000 45.67 241000 44.63 Investments 27000 4.50 20000 3.70 plant net 270000 45.00 255000 47.22 Land 29000 4.83 24000 4.44 Total Assets $ 600,000 100.00 $ 540,000 100.00 Liabilities and Stock equity Liabilities Current Liabilities Notes payable $ 17,000 2.83 $ 6,000 1.11 Accounts payable 113800 18.97 100000 18.52 salaries payable 21000 3.50 15000 2.78 Total current liabilities 151800 25.30 121000 22.41 Noncurrent liabilities…
X Print Item Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity Sales Cost of goods sold Gross margin Income Statement Operating expenses Interest expense Net income a. 2.8% b. 1.4% c. 11.3% d. 5.6% $67,366 89,760 79,299 63,350 $299,775 $93,016 37,206 $55,810 (21,965) (4,651) $29,194 Number of shares of common stock outstanding Market price of common stock Total dividends paid Cash provided by operations What is the return on total assets for Diane Company? 6,335 $26 $9,000 $30,000 All work saved. MacBook
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