Sales: $100 000 Purchase: $45 000 Sales returns: $20 000 Purchase returns: $5 000 Current Assets: $55 000 Current Liabilities:$5000 required: a) Calculate net sales. b) Calculate net purchases. c) Calculate working capital.

Sales: $100 000 Purchase: $45 000 Sales returns: $20 000 Purchase returns: $5 000 Current Assets: $55 000 Current Liabilities:$5000 required: a) Calculate net sales. b) Calculate net purchases. c) Calculate working capital.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: 15/24 crual Basis Balance Sheet As of December 31, 2024 Dec 31, 24 % of Column 24000 - PayrollI…

A: The question is related to Net Profit Margin. The Net Profit Margin is calculated as under Net…

Q: Need Help with this Question

A: 1. Calculation of sales: Sales = Gross profit + COGS= $1,600,000 + $575,000= $2,175,000 2.…

Q: > BTCF = $150,000; Depletion= $5,000; loan interest = $10,000; loan payment = $16,275; tax rate =…

A: BTCF – BTCF stands for before tax cash flow. This is the value of net income after deducting all the…

Q: Sales $1,561,836 Operating Income $87,385 Total Assets (investment) $517,201 Target Rate of Return…

A: Please see the next step for the solution

Q: the gross profit ( 3250 000 )$ , and the sales value ( 9550 000 )$ . Total cost ? * .a- ( 6300 000…

A: Gross profit is calculated by deducting the cost of goods sold from the sales revenue.

Q: Short-term investment earned an unrecorded investment income amounting to P 15,000. What is the…

A: Accrued income is one of the asset of the business. It means income which has been earned by the…

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: 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders' equity…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Original Cost of Investment Selling Price of Investment Distributions Investment Received Dollar…

A: Dollar profit / Loss = Selling Price Of Investment + Distributions Received - Original Cost Of…

Q: OR Extract of Balance sheet items as at 31 December 2019 0000 Building 3500 Account receivables…

A: ‘’Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Sales COGS Depreciation Expense Interest Expense Tax rate 30% Net Income Current Asset Beginning…

A: Cash Flow: The inflow and outflow of cash from the business for different activities are recorded as…

Q: 17. Gross income $450,0003; Expenses $200,000; Loan Payment = $23,740; Loan Interest Paid $6,000;…

A: Gross income = $ 450,000 Expenses = $ 200,000 Loan payment = $ 23,740 Loan interest paid = $ 6,000…

Q: A frim has net working capital of $509, net fixed assets of $2,336, sales of $7,000 and current…

A: Sales: It refers to all the activities involved in selling a product or service to a consumer or…

Q: Given the following data; TOTAL SALES OMR 250000 CASH SALES OMR 125000 SALES RETURN OMR 5000 OPENING…

A: The correct option is A. 120000

Q: In the Economic Order Quantity (EOQ) Theory, if CO £20, D 24,000, EOQ 400, calculate the…

A: EOQ theory state and calculate the ideal order quantity that an organization needs to be purchased…

Q: Sales Cost of Sales Gross Profit Operating Expenses (b) Net Income P75,000 (a) P40,000 P17,000

A: Gross profit is the difference between sales and cost of sales. Net Income is the difference between…

Q: Use the following to answer the questions DO NOT INCLUDE C OMMAS OR DOLLAR SIGNS IN YOUR ANSWERS…

A: Net profit margin = Net income / net sales where, Net sales = Sales - sales return and allowances

Q: Sales = $1000 and costs = $500. Interest expense = $100 and depreciation = $100. The tax rate is…

A: The net income is the net profit of the company earned during the period. The net income includes…

Q: AMOUNT REF# ACCT TITLES DEC 31 2020 1 ACCOUNTS PAYABLE 66,500 2 ACCUMULATED DEPRECIATION - EQUIPMENT…

A: Net Purchase=Purchase revenue-Purchase returns & allowances+Purchase…

Q: Hi expart give correct answer

A: Conclusion:The calculated operating cash flow is $800.So, the correct answer is: D. $800.

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: [The following information applies to the questions displayed below] The following adjusted trial…

A: Closing Entries - Closing Entries are required to close the temporary accounts of the company. Those…

Q: Question 3: Use the following information on Assets to calculate the weighted average duration for…

A: The weighted average duration is a measure used in finance to assess the sensitivity of a portfolio…

Q: Problem

A: Step 1: introduction to the Return on Assets:The return on assets shows the amount of net income as…

Q: Operating Capital Net operating working capital Long-term assets (Net FA) Total operating capital…

A: A ratio is a mathematical expression having a meaningful interpretation arrived at by comparing two…

Q: Provide answer of this Question

A: Gross profit, also called gross income measures the company's efficiency in using labor and supplies…

Q: Purchases $250,000 Cost of goods sold 250,000 Beginning balance 30,000 Ending balance ?

A: Formula: Ending balance = Beginning balance + Purchases - Cost of good sold

Q: 2020 2019 General and administrative expenses 21,600 24,000 Interest expense 1,500 1,500 Net sales…

A: Operating profit margin:- It is the ratio of Operating income divided by Net Sales. Formula: OPM%…

Q: F Question Viewer Cost of Goods Sold - Depreciation = EBIT - Taxes (20%) = Unlevered net income +…

A: Internal rate of return refers to the minimum percentage of return or the rate of return of the…

Q: why do we need to divide 55 days to 365 days for the net recievables and net payable

A: Net Receivables: Net receivables are the total amount of money owing to a firm by its customers…

Q: In capital ledger account, debit side total is OMR 50,000 and credit side total is OMR 30,000.…

A: Ledger account is the T formatted account in which financial transactions are posted account wise.…

Q: Complete the financial statements by preparing the Statement of Cashflows for 2021.

A: The draft financial statement of Speedy Coaches is given to us for the year ended 2020 & 2021.…

Q: EXERCISE 1: RETURN ON ASSETS AND COST OF FINANCING Non-current assets Current assets $1,260,000…

A: Ratio analysis is quantitive method of getting inside review of an organisation. Ratio analysis make…

Q: Earning Before Interest and Tax (EBIT) Re. 25 Lacs. Interest on debt Rs. 10 lacs. Calculate degree…

A: > Give data:> Earnings before Interest and Tax (EBIT) = 25,00,000> Interest on debt =…

Q: 1. Based on the following information: Trial balance CAD trade investment $ 300,000.00 Equity…

A: Due to multiple sub-parts only the first three are solved as per our guidelines.The company's…

Q: Oman Company has net working capital of $6,900, net fixed assets of $86,100, sales of $156,000, and…

A: Current assets = working capital + current liabilities = 6900+ 4 1700 = $48600

Q: 2022 Income Statement: Sales revenue Cost of goods sold Fixed Costs 600,000 240,000 50,000 Selling,…

A: Net Income is the amount in accounting which is left after subtracting cost of goods sold, operating…

Q: 16. What would income property be valued at if it had $50,000 annual gross income with 40% expense…

A: Net IncomeNet income, also known as net profit or the bottom line, refers to the total amount of…

Q: Gain on Sales of Investment 5,000.00 Adversiting Expense 8,000.00 Sales 100,000.00 less: Cost of…

A: Formula: Gross profit = Net sales - cost of goods sold

Q: Credit Rop = 15,00,000/-; Cash Rop is 25% of Rop; liquid asset 2,00,000/-; Inventory 1,00,000/-;…

A: The working capital turnover ratio seems to be a metric that determines how well a firm utilizes its…

Question

100%

Question: Sales: $100 000 Purchase: $45 000 Sales returns: $20 000 Purchase returns: $5 000 Current Assets: $55 000 Current Liabilities:$5000 required: a) Calculate net sales. b) Calculate net purchases. c) Calculate working capital.

Video Video

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

Step 2

Step 3

Step 4

Step by step

Solved in 4 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

If the gross profit 196 000 ID, other revenue and gains 4 360 ID , operating expenses 143.900 ID, net purchases 1200000ID the net profit is:
Short-term debt 2,100,000 Long-term debt 2,420,000 Current assets 3,900,000 A company buys furniture for euro 100,000 incl. VAT (25%). The equipment is financed with a long-term loans in the bank. What accounting effects does the purchase of the inventory have? Use the balance equation.
HOMEWORK-DEPRECIATION/TAXES Initial cost $400,000 $160,000 $30,000 Annual Revenue Annual Expense Recovery Period (expected life) 5 Tax Rate 30% MARR 12% 6. Construct a complete Income Statement using SL 7. Construct an Income Statement using MACRS.
Sales : $250,000Costs : $134,000Depreciation : $10,200Operating expenses : $6,000Interest expenses : $20,700Taxes : $18,420Dividends : $10,600Addition to Retained Earnings : $50,080Long term debt repaid : $9,300New Equity issued : $8,470New fixed assets acquired : $15,000 You are required to:i) Calculate the operating cash flow ii) Calculate the cash flow to creditors iii) Calculate the cash flow to shareholders
Given the following figures - what is closing capital? Opening Capital £250,000 Net Profit £32,000 Drawings £25,000 Select one £193,000 £257,000 £307,000 £243,000
Key Figures ($ millions) Sales Net income Average assets Required: 1. Compute return on assets for Coca-Cola and PepsiCo. A Note: Enter values in $ millions. Coca-Cola $ 46,542 8,634 76,448 Coca-Cola return PepsiCo return Numerator: + PepsiCo $ 66,504 6,462 70,518 + + Return on Assets Denominator: ||||| = Return on Assets Return on assets 2. Which company is more successful in its total amount of sales to consumers? PepsiCo Coca-Cola 3. Which company is more successful in returning net income from its assets invested?
A-7
Hi There, I need ask a favor... How to calculate "Current Liabilites" if I only know, these following data : - Cash and Equivalents : $ 100.00 - Fixed Assets : # 283.50 - Sales : $ 1,000.00 - Net Income : $ 50.00 - Quick Ratio : 2.0 x - Current Ratio : 3.0 x - DSO : 40 Days - ROE : 12% Thank you
Sales $1,519,621 Operating Income $108,450 Total Assets (investment) $583,662 Target Rate of Return (Cost of Capital) 10% What is return on investment? Input your answer to 1 decimal place. For example if you calculate .1892 enter 18.9.
Inventory $5000. Net Fixed Asset-50000 Accounts rec=$800 Cash= 1000 Accts payable=4500 How much is total current assets?
Income statement 2021 £,000 Sales 7000 Cost of sales -3000 Gross profit 4000 Administration and distribution expenses -1000 Interest payable -500 Dividend received 600 Profit before tax 3100 Taxation -1000 Profit after tax 2100 Balance Sheet 2021 2020 £'000 £'000 £'000 £'000 Assets: Non-Current Assets Property, plant and equipment 13000 10000 Investment 3000 3000 16000 13000 Current Assets Inventories 5500 5000 Trade receivables 2500 4500 Cash at bank 1000 9000 0 9500 Total Assets 25000 22500 Equity and Liabilities: Share capital 6000 5000 Share premium account 3000 2000 Retained earnings 3900 3000 12900 10000…
Question 2- Prepare Income statement Sales $497,000 Costs 276,000 Depreciation expense 43,000 Interest expense 24,000 Tax rate 21%