Questions: Determine the following: 1. The gross sales for the year. a P1,000,000 b. P1,030,000 2 The net purchases for the year. a. P650,000 b. P600,000 C P970,000 d. P1,240,000 C P550,000 d. P500,000 3. The gross income for the year. a P300,000 b P350,000 E P270,000 d. P320,000 4. The salaries expense for the year. P400,000 b P300,000 C P350,000 d. P450,000
Q: How is the gross profit percentagecomputed? Illustrate its calculation and interpretationassuming…
A:
Q: 4 Use the following to calculate pretax income (IBT): $ 5,000 Sales revenue 4,000 Cost of goods sold…
A: Pre-tax income: It refers to the income earned by the business before deducting the tax expense.…
Q: A company has sales of $763,000 and cost of goods sold of $306,000 it's gross profit equals what?…
A: Gross profit can be calculated by deducting the cost of goods sold from the net sales.
Q: Compute total income from the following? Gross Profit OMR 15000, Rent Paid OMR 3000, Commission…
A: The income is calculated as difference between total revenue and other expenses.
Q: ABC LTD's figures for an accounting period include sales R25m, cost of sales R15m and equity R5m.…
A: Given Information: Sales - R25m Cost of sales - R15m Equity - R5m
Q: Calculate net profit from the following? Net sales OMR 100000, Cost of goods sold OMR 40000, Rent…
A: Gross profit = sales - cost of goods sold = 100000 - 40000 = OMR 60000
Q: What will be the total operating expense? a.41200 b.53200 c. 19700 d. 21500 2-What will be the net…
A: Operating expense is defined as the expense which business make from its normal course of business…
Q: Compute total income from the following? Gross Profit OMR 15000, Rent Paid OMR 3000, Commission…
A: Given gross profit = OMR 15000
Q: Manuel's cost of goods sold for the year is a. P257,000 b. P260,500 C. P261,000 d. P269,500 499
A: Raw Material used in production = Beginning Raw Material + Raw Material Purchased - Ending Raw…
Q: Compute total income from the following? Net Sales OMR 50000, Cost of goods sold OMR 20000, Dividend…
A: Gross profit = Net Sales - Cost of goods sold = 50000-20000 = OMR 30000
Q: Calculate the sales from the given information Cost of goods sold is $38,000…
A: The format is - Sales less Cost of goods sold less Depreciation less tax Net…
Q: If current assets amounted to P600,000 and current liabilities amounted to P200,000, what is the…
A: 1. Calculate the current ratio by dividing the current assets which is P600,000 by the current…
Q: Calculate net profit from the following? Net sales OMR 100000, Cost of goods sold OMR 40000, Rent…
A: Net income is the calculation of the remaining amount with an organization after deducting taxes,…
Q: 1. Current assets is P20,000, current liabilities is P30,000. What is the current ratio? 2.…
A: As posted multiple independent questions we are answering only first question kindly repost the…
Q: A company shows the following balances: Sales $1,000,000 225,000 25,000 600,000 Sales Returns and…
A: Gross profit is calculated as difference between sales and cost of goods sold. Gross profit % is…
Q: hat is the net i
A: As per rule, allowed to answer first question and post the remaining in the next submission.
Q: Revenue and expense data for Young Technologies Inc. are as follows: Year 2 Year 1 Sales $500,000…
A: Vertical analysis: The comparison of an item of a financial statement against the total amount of…
Q: 7YReferring to the following table, what is Net sales revenue? Sales revenue $460,000| Cost of goods…
A: Formula: Net sales revenue = Sales revenue - Sales discounts - Sales returns and allowances
Q: If the amount of net sales is RM23,000, net purchase is RM10,000 and the cost of sales is RM2,450,…
A: Gross Profit =Net Sales - Cost of goods sold
Q: An entity reported operating expenses other than interest expense for the year at 40% of cost of…
A: The cost of goods sold (COGS) appears to be one of the biggest crucial accounting concepts for…
Q: Compute total income from the following? Gross Profit OMR 15000, Rent Paid OMR 3000, Commission…
A: Total Incomes: Sum of all the incomes earned derives the total income. Total income to be shown in…
Q: If the gross profit is P5,000 and the net profit is 25% of the gross profit. What are the expenses?…
A: Given: Net profit = Gross profit x 25%
Q: The following are extracts from a statement of profit or loss and other comprehensive income for the…
A: Retained earnings = Net profit - Dividends Calculation of net profit :- Sales revenue 10,000…
Q: The following financial statements apply to Karl Company: Year 2 Revenues 436, 000 000'098 Expenses…
A: Book value per share is the amount at which the share is issued or subscribed. This is computed by…
Q: Calculate gross profit from the following? Sales OMR 10000, Cost of goods sold OMR 4000 and Return…
A: Gross profit is the profit a company makes after deducting the costs associated with making and…
Q: Calculate the Sales from the information given: Cost of goods sold is $38,000 Net income is $14,625…
A: The question is multiple choice question. Required Choose the Correct Option.
Q: 1. What is the amount of purchases for the current year? a. 1,700,000 b. 1,600,000 c. 1,500,000 d.…
A: When the inventory of the business lost, damaged or theft during the accounting period, it…
Q: Sales Cost of goods sold P800,000 480,000 320,000 Gross Profit Operating expenses 40,000 Selling…
A: Comparative financial statements are prepared to analyze the financial statements of the company. It…
Q: 44- Calculate net profit from the following? Net sales OMR 100000, Cost of goods sold OMR 40000,…
A: In the given question we need to calculate the net profit from the details given in the question.
Q: Assume Cheyenne Corp. has the following reported amounts: Sales revenue $708,900, Sales returns and…
A: Given, Sales revenue = $708,9000 Sales returns and allowances = $20,850 Cost of goods sold =…
Q: .Calculate the gross profit from the following? Sales OMR 25000, Cost of goods sold OMR 15000 and…
A: Net sales = Sales - Return inwards = OMR 25000 - OMR 2000 = OMR 23000
Q: How much is the total gross income? a. 1,320,000 b. 1,400,000 c. 1,470,000 d. 1,550,000
A: Revenue : It is the amount of sale of goods and services in cash or credit during an accounting…
Q: If the net sales 1250 000 ID ., selling expenses 250 000 ID., Administrative expenses 250 000 ID.,…
A: Solution:- Calculation of Gross profit as follows under:-
Q: Calculate gross profit from the following? Sales OMR 50000, Cost of goods sold OMR 30000 and Return…
A: Formula: Net sales = Sales - return inwards Deduction of return inwards from sales derives the net…
Q: If the amount of net sales is RM23,000, net purchase is RM10,000 and t cost of sales is RM2,450,…
A: Gross profit is calculated as excess of sales revenue over cost of sales.
Q: C. Paxton Company provided the following income statement for last year: P 87,021,000 (62,138,249) P…
A: Times interest earned ratio shows how many times a company can cover its interest expense with its…
Q: Determining gross profit During the current year, merchandise is sold for $8, 100,000. The cost…
A: The gross profit is calculated as difference between sales and cost of goods sold.
Q: Presented below are the information taken from the books of NMIXX Co 2022 2023 Sales Regular P…
A: Income statement is prepared by the business organizations so as to know how much amount of gross…
Q: Under accrual basis, what amount should be reported as gross sales for the current year?
A: Gross sales are those sales which the company has made during the year which is in gross means the…
Q: revenue from sales is P98,760; sales return is P35,500; cost of goods sold is P8,490; salaries cost…
A: Computation of gross profit as well as net profit are as follows:
Q: Determining gross profitDuring the current year, merchandise is sold for $ 11,750,000. The cost of…
A: Gross profit is the amount of money earned after deducting the cost of goods sold from the sales.
Q: 4. Prepare a multi-step Statement of Comprehensive Income using the following: • Sales – P20,000 •…
A: Hi student Since there are multiple questions, we will answer only first question.
Q: QUESTION: I need to determine the following measures for 20Y2 for number 8 and 11-18 (Determine…
A: Ratio analysis are used to measure the financial performance of the business.
Q: net profit
A: Here cost of Goods sold amount is Given. hence no requirement for closing stock , opening stock, Net…
Q: Selected data from the year-end financial statements of World Cup Corp. are presented below. The…
A:
Q: entity had net purchases of P100. If inventories had a net decrease of P20 during the year, the cost…
A: The manufacturing company would be needed a purchases with efficient work. The output would be good…
Q: What is the gross profit for the year if the net revenue from by-product is treated as additional…
A: A by-product seems to be a secondary product that is produced inadvertently as a by-product of the…
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- QS 17-4 (Algo) Horizontal analysis LO P1 Compute the annual dollar changes and percent changes for each of the following accounts. (Decreases should be indicated with a minus sign. Round percent change to one decimal place.) Short-term investments Accounts receivable Notes payable Percent Change: = Short-term investments Accounts receivable Notes payable $ Current Year Prior Year $ 377,232 99,828 0 $ 236,026 103,326 90,624 Horizontal Analysis - Calculation of Percent Change Numerator: Current Year 377,232 $ 99,828 0 Prior Year 236,026 103,326 90,624 Denominator: Dollar Change Percent Change % % %Item Prior year Current year Accounts payable 8,112.00 7,889.00 Accounts receivable 6,029.00 6,526.00 Accruals 981.00 1,445.00 Cash ??? ??? Common Stock 10,050.00 11,831.00 COGS 12,659.00 18,136.00 Current portion long-term 5,054.00 5,053.00 debt Depreciation expense 2,500 2,814.00 Interest expense 733 417 Inventories 4,101.00 4,816.00 Long-term debt 14,355.00 13,032.00 Net fixed assets 51,776.00 54,131.00 Notes payable 4,395.00 9,850.00 Operating expenses (excl. 13,977 depr.) 18,172 Retained earnings 28,273.00 29,816.00 Sales 47,524 Taxes 2,084 2,775 What is the firm's cash flow from operations? Submit Answer format: Number: Round to: 0 decimal places.#9 Item Prior year Current year Accounts payable 8,122.00 7,930.00 Accounts receivable 6,011.00 6,556.00 Accruals 1,028.00 1,686.00 Cash ??? ??? Common Stock 11,889.00 11,432.00 COGS 12,613.00 18,213.00 Current portion long-term 4,995.00 4,975.00 debt Depreciation expense 2,500 2,793.00 Interest expense 733 417 Inventories 4,294.00 4,819.00 Long-term debt 13,601.00 13,831.00 Net fixed assets 50,018.00 54,610.00 Notes payable 4,367.00 9,942.00 Operating expenses (excl. 13,977 18,172 depr.) Retained earnings 28,908.00 30,580.00 Sales 35,119 45,307.00 Тахes 2,084 2,775 What is the firm's cash flow from investing? Submit Answer format: Number: Round to: 0 decimal places.
- Item Prior year Current year Accounts payable 8,198.00 7,775.00 Accounts receivable 6,030.00 6,768.00 Accruals 1,007.00 1,602.00 Cash ??? ??? Common Stock 10,168.00 12,293.00 COGS 12,621.00 18,231.00 Current portion long-term 4,953.00 5,046.00 debt Depreciation expense 2,500 2,756.00 Interest expense 733 417 Inventories 4,136.00 4,819.00 Long-term debt 14,434.00 13,704.00 Net fixed assets 50,920.00 54,636.00 Notes payable 4,385.00 9,940.00 Operating expenses (excl. depr.) 13,977 18,172 Retained earnings 28,358.00 30,071.00 Sales 35,119 47,773.00 Тахes 2,084 2,775 What is the firm's total change in cash from the prior year to the current year? Submit Answer format: Number: Round to: 0 decimal places.QS 13-4 (Algo) Horizontal analysis LO P1 Compute the annual dollar changes and percent changes for each of the following accounts. Note: Decreases should be indicated with a minus sign. Round percent change to one decimal place. Short-term investments Accounts receivable Notes payable Percent Change = Short-term investments Accounts receivable Notes payable S Current Year $ 378,398 100,704 0 Prior Year $ 237,313 104,650 91,913 Horizontal Analysis - Calculation of Percent Change Numerator: Current Year 378,398 $ 100,704 0 Prior Year 237,313 104,650 91,913 Denominator: Dollar Change Percent Change %6 %6 %#10 Item Prior year Current year Accounts payable 8,192.00 7,708.00 Accounts receivable 6,001.00 6,656.00 Accruals 990.00 1,424.00 Cash ??? ??? Common Stock 11,572.00 12,100.00 COGS 12,755.00 18,124.00 Current portion long-term 4,908.00 4,906.00 debt Depreciation expense 2,500 2,795.00 Interest expense 733 417 Inventories 4,157.00 4,813.00 Long-term debt 14,743.00 13,589.00 Net fixed assets 51,715.00 54,037.00 Notes payable 4,358.00 9,905.00 Operating expenses (excl. 13,977 depr.) 18,172 Retained earnings 28,867.00 29,863.00 Sales 35,119 45,665.00 Тахes 2,084 2,775 What is the firm's total change in cash from the prior year to the current year? Submit Answer format: Number: Round to: 0 decimal places. unanswered not_submitted Attempts Remaining: Infinity
- Allowance method Using transactions listed in £6-S. indicate the effects of each transaction on the liquidity metric days’ sales in receivables and profiability metric return on sales.ote: Total Aet-Cuat linbiwbe Accumulated fundo tthistoation: The recepts and gagmetsalleunte of Liar c for the you Balane If Sub saptindn knded 2lst Delamt 1999 Wee ce Inserrance Rate l,000 ting 3,650 L, 700 600 Glavenalerpanes 6itor Reut fnnitume Sought lana /d 27,250 Sonatins 8,500 8,150 7,80 2,St0 27250 The fillowing nformetim Rates were 3600 2,F00 popaid Geneal Raputes prepaid Doo Raut Buing Subsaptim in Qureas 100 75 Foo 600 The foced assets funituns Cnd fifting Premies bepreciate thu Asets as at Ist jan 999 were; at1,500 A5,00 by o pepare; Youre veequired to Statemat of affats - m Come and"copenditwe allounts 2 Balane sheetas at 3lst Delember 1999,2. Nem Level Which of the two methods yields a conceptaly pefenbile valion of invemory E7-10 107.5 Alternative Ivety Methods Nevens Compary nes a peiodic invenory Duting November, the foillowing tranactions occurred: Dete Tronsecfion Units Cot/Uni November Balonce $3.50 50 350 Sole Pierhme Purchese Sole 13 300 400 5.00 21 28 200 SHOW ME HOW 150 Required: 1. Compute the cost of goods sold for November and the inventory ar the end of November for each of the following cost flow assumptions: FIPO 2. b. LIPO C Average cost Next Level What can you conclude about the effects of the inventory cost flow assumptions on the financial 2. statements
- #9 O Item Prior year Current year Accounts payable 8,113.00 7,909.00 Accounts receivable 6,029.00 6,555.00 Accruals 999.00 1,352.00 Cash ??? ??? Common Stock 11,096.00 12,144.00 COGS 12,698.00 18,074.00 Current portion long-term 4,971.00 4,959.00 debt Depreciation expense 2,500 2,836.00 Interest expense 733 417 Inventories 4,232.00 4,816.00 Long-term debt 14,899.00 14,036.00 Net fixed assets 50,114.00 54,819.00 Notes payable 4,323.00 9,810.00 Operating expenses (excl. 13,977 18,172 depr.) Retained earnings 28,849.00 29,434.00 Sales 35,119 46,806.00 Таxes 2,084 2,775 What is the firm's cash flow from investing? Submit Answer format: Number: Round to: 0 decimal places. unanswered not_submitted Attempts Remaining: Infinitysestion 20 Sappe letel har entory ofS150 on year 1, and $70 on year 2. This change in imetory the cash aailahle to firm in 2 ln other sworda, the cash eflect of change in itary on the y2 uperating cal fows i OA ICzeser $80 decreases, S80 Canot be detmined eed mare ntetion Oo deczeases, S80 OEease,$80P write the likely frandactiong thet may escenting result in the fallesing ahouyetiz the ace equation. (a) tnerease in ealited, lo.o0o crease in meter Vehicle., 2500 and increase in banfe 2500 . e) therease in 'mukentory, 1,760 cnd increase in trade Payable, 1,700. E) Decrase in inpentory Foo ihereade in geceivable , 620; and increase im eeluity 120. ) Therease In Cath, 450 ad decresc in boulk 450. (E)Decreade in bonk, 1eero anddecyosein Payable by 1,so0 f) Decrease im Cash, 250.and decrease in eduity, 250. CS Scanned with CamSoanner