Question 4Not yetansweredMarked out of1.00FlagquestionAccounts Payable - 30/06/2021Cash PurchasesGuildford Furniture Company provides the following information:Accounts Payable - 01/07/2020$ 7,0006,5002,200Credit Purchases14,3002,750Returns to (credit) SuppliersDiscount receivedWhat is the the cash paid during the year?Select one:3,41032,69021,30011,390660

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Answered: Question 4 Not yet answered Marked out…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter5: Sales And Receivables

Section: Chapter Questions

Problem 81BPSB

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Presented below are the information taken from the books of NMIXX Co. 2022 2023 Sales Regular P 125,000 P 187,500 Installment 62,500 100 000 Cost of goods sold: Regular 75.000 112,500 Installment 31,250 45,000 Selling expenses 25,000 31,250 Collection on accounts from Regular sales 100,000 137,500 Installment sales - 2022 37.500 25,000 Installment sales - 2023 62,500 How much is the Realized gross profit in installment and net income for the year 2023?
[A] Instructions: Compute the VAT Payable (refer to the photo) for the third quarter. (Show solution)
Question 2.6 Is the company's collection policy effective? Please justify your answer. Notes: Inventories as at 31 December 2020 amounted to R185000 All purchases and sales are on credit Credit terms to Debtors are 30 days Credit terms of 3/10 net 90 days are granted by creditors Dividends for the year amounted to R139 503
t the osts Santiago, Inc. has the following on receipts during 2018 for sale of products: Compute the gross income using accrual basis P 400,000 P 100,000 P 500,000 From service billings to clients Advances from clients Total cash collection O 400,000 O 100,000 O 500,000 2. O 1,000,000 nt
OkyOTcw/a/MjUwNDEyNDM20TEx/details Particulars Credit (RM) 48,400 Debit (RM) Capital Drawings Trade receivables Trade payables Sales Purchases Sales returns Purchases retums Wages and salaries Discounts allowed Discounts received Provision for doubtful debts Insurance Inventory as at 1 September 2018 Utilities 3,500 9,000 12,500 40,400 31,000 300 250 5,600 120 200 300 700 2,400 950 350 10,000 3,000 20,000 Rates Premises Fixtures and fittings Motor van Cash in hand Cash at bank TOTAL 330 14,800 102.050 102.050 Additional information as at 31 August 2019: i. Inventory as at 31 August 2019 amounted RM3,300 ii. An entity from whom there is accounts receivables of RM200 was unable to settle his debt and this amount is to be written off as bad debts. iii. The provision for doubtful debts is 1% of the outstanding trade receivables. iv. The owner took RM100 worth of goods from the business for his own use Required: a) Statement of Profit or Loss and Others Comprehensive Income for the year…
Use the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Income Statements for 2020 and 2021 (including dividends paid and retained earnings).
Use the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Balance Sheets for 2020 & 2021.
Please with full solutions
based on that solution just want to ask how find gross profit and net profit？
Prepare an income statement for Hansen Realty for the year ended December 31, 2020. Beginning inventory was $1,258. Ending inventory was $1,610. (Input all amounts as positive values.) Sales $ 35,900 1, 102 1,162 11, 012 Sales returns and allowances Sales discount Purchases Purchase discounts 550 Depreciation expense Salary expense Insurance expense Utilities expense Plumbing expense Rent expense 125 5,700 3,100 220 260 190 HANSEN REALTY Income Statement For Year Ended December 31, 2020 Gross profit from sales Operating expenses: Prev 4 of 16 Next > ..... ....L
What was the gross margin for 2022? Choices: 300,000 P400,000 P725,000 P200,000 P150,000
ON SPRING moodle1.du.edu.om U - Moodle English (en) Sohar Company's income statement for 2021 is given below. If Accounts receivable balances are 14000 in 2021 and 7000 in 2020. Which of the fallowing is cash collections from customers? Sales COGS Gross Profit Operating Expenses Operating Profit EInterest Expensẽ Profit before Tex 85,000 65,000 20,000 8.000 12:000 2000 10,000 3,000 Z.000 Net Profit la 85000 b 92000 here to search hp 立

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