Rana company ltd. produces a higher quality speaker of 5,000 pieces at cost of Tk. 200 per piece and sold 4,500 pieces to a wholesaler named Mr. Jafar at a profit of 15%. Mr. Jafar traders incurred a cost @ Tk. 50 for maintenance and other expenses and added 10% profit to the price before selling 3,500 pieces to a retailer named Taba Sisters. Taba Sisters also incurred a cost @ Tk. 85 for maintenance and added 5% profit to sell 2,500 pieces to the consumers. Compute VAT in each stage assuming a rate of VAT is 15%.

Rana company ltd. produces a higher quality speaker of 5,000 pieces at cost of Tk. 200 per piece and sold 4,500 pieces to a wholesaler named Mr. Jafar at a profit of 15%. Mr. Jafar traders incurred a cost @ Tk. 50 for maintenance and other expenses and added 10% profit to the price before selling 3,500 pieces to a retailer named Taba Sisters. Taba Sisters also incurred a cost @ Tk. 85 for maintenance and added 5% profit to sell 2,500 pieces to the consumers. Compute VAT in each stage assuming a rate of VAT is 15%.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Am.104.
A company sells gift baskets for $145.00. The cost to their business for the item is $56.00 with expenses of 33% of the cost. During a clearance sale they sell the baskets at a reduced price of $89.00. Determine the profit or loss resulting from selling the baskets at this clearance price. Question 5 options: loss of $70.52 loss of $14.52 profit of $14.52 loss of $ 33.00
Lowes Farm Supply paid $73 for a large bag of fertilizer. Expenses are 13% of cost and the profit is 21% of cost. Round the answers to the nearest cent if necessary. 1) What is the regular selling price? 2) To help clear inventory, the fertilizer was sold at break-even during a sale. What is the break-even selling price?
Wheels N Cogs is a small business that designs gear for a variety clients including those that produce lawnmower equipment. According to the financial profle, the company spends $960k each on rent and utites One of the reasons why the company is so successful is that it can produce gear at a relatively low price ($1.72/gear) and can sell them for $9.34. Based on the information conceming this company, how many gears would Wheels N Cogs need to produce for them to break even? Oa 50,000 per year Ob 125.000 per year Oc 100,000 per year O 75.000 per year
Denjar
The Manassas Company has 55 obsolete keyboards that are carried in inventory at a cost of $9,600. If these keyboards are upgraded at a cost of $6,500, they could be sold for $19,900. Alternatively, the keyboards could be sold “as is” for $8,400. What is the net advantage or disadvantage of re-working the keyboards?
ABC Corporation manufactures a product that gives rise to a by-product called Z. The only costs associated with Z are selling costs of P1 for each unit sold. ABC accounts for Z sales first b deducting its separable costs from such sales and then by deducting this net amount from cost of sales of the major product. This year, 1,000 units of Z were sold at P4 each. If ABC changes its method of accounting for Z sales by showing the net amount as additional sales revenue, ABC's gross margin would*a. decrease by P3,000b. increase by P4,000c. increase by P3,000d. be unaffected
Answer full question please.
snju
Rowan coffee co. Incurs a loss from operations for the standard coffee line. Sales revenue for the line total $72,000 while incurring variable cost of goods sold of $19,500, variable selling expenses of 17,400 and a fixed cost of $ 49,000. How do I determine if the standard coffee line should be continued or discontinued??
Pearl Inc. sells storage structures of various sizes to homeowners and businesses.Respond to the requirements related to the following independent revenue arrangements for Pearl products and services. Pearl offers building R400, mainly to homeowners. Pearl will also install the building for the customer. The price for Pearl to deliver and install an R400 is $ 5,500. On a standalone basis, the building sells for $ 5,300 (cost $ 3,400), and Pearl estimates that the standalone selling price of the installation service (based on cost-plus estimation) is $ 500. (The selling of the building and the installation services are considered two performance obligations.) Pearl signed 15 contracts to deliver and install R400s on April 5, 2017. Customers paid the contract price in cash. The buildings were delivered and installed during May 2017. Prepare journal entries for Pearl for R400 in April and May 2017. (Round intermediate calculations to 6 decimal places, e.g. 1.246871 and final answers to…