The following are relevant information pertaining to the results of the business operations for Maisarah Islamic Window for the year 2020: Income from Operations 3500000 Expenses from Operations 1200000 Indirect Income (Fee Based) 480000 Indirect Expenses 340000 The above profit from operation is prior to the distribution of profit to mudharabah depositors. The agreed profit sharing ratio between the Bank and mudharabah depositors is 60 40 respectively Required Assuming that the Separate Investment Account Method SIAM is used, calculate the net profitloss to the Islamic Bank (Before Tax and Zakat)

The following are relevant information pertaining to the results of the business operations for Maisarah Islamic Window for the year 2020: Income from Operations 3500000 Expenses from Operations 1200000 Indirect Income (Fee Based) 480000 Indirect Expenses 340000 The above profit from operation is prior to the distribution of profit to mudharabah depositors. The agreed profit sharing ratio between the Bank and mudharabah depositors is 60 40 respectively Required Assuming that the Separate Investment Account Method SIAM is used, calculate the net profitloss to the Islamic Bank (Before Tax and Zakat)

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter1: The Role Of Accounting In Business

Section: Chapter Questions

Problem 1.3.5MBA: Return on assets The financial statements of The Hershey Company (HSY) are shown in Exhibits 6...

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The following are relevant information pertaining to the results of the business operations for Maisarah Islamic Window for the year 2020: Income from Operations 3600000 Expenses from Operations 1300000 Indirect Income (Fee Based) 200000 Indirect Expenses 360000 The above profit from operation is prior to the distribution of profit to mudharabah depositors. The agreed profit sharing ratio between the Bank and mudharabah depositors is 60:40 respectively. Required Assuming that the pooling Method is used, calculate the net profit/loss to the Islamic Bank (Before Tax and Zakat)
The following select account data is taken from the records of Reese Industries for 2019. A. Use the data provided to compute net sales for 2019. B. Prepare a simple income statement for the year ended December 31, 2019. C. Compute the gross margin for 2019. D. Prepare a multi-step income statement for the year ended December 31, 2019.
Multiple-step income statement Identify the enurs in the following income statement and prepare a corrected income statement:
1. Following information is available for the year 2019 and 2020 of XYZ SAOG. You are required to prepare Statement of comprehensive income and Statement of financial position. 2019 2020 Net finance charges 32516 22334 Taxation expense 818918 545790 Sales 41638212 42845900 Cost of sales 27672478 26212660 Other income 1001286 826020 Legal reserve 12777322 12415734 Retained earnings 3742920 5228032 Fair value reserve 243514 -65174 Salaries and other employee related costs 4554888 4278172 Unrealized gain on Fair value changes on available for sale investments 308688 2264658 Property, plant and equipment 35411014 38329456 Available for sale investments – Long term 3188116 3150452 Non-current portion of held-to-maturity investments 3858778 5804256 Other Investments 1540800 Accounts and other payables 5607514 6086376 Taxation payable 668454 755446 Current portion of held-to-maturity investments 10930634 6000000 Inventories 10334502 8507048 Accounts and other receivables 18420298 14737064…
1.) Prepare statement of Comprehensive Income from the information given below of ABC SAOC for the year ended 31st December 2018: Sales Revenue Cost of sales Gross profit Other income Salaries and other employee related costs General and administrative expenses Selling and distribution expenses Net finance costs Taxation Fair value gain on financial assets Unrealized holding loss classified as available for sale 38,277,238 27,721,482 10,555,756 199,882 4,260,314 970,694 4,519,766 24,450 263,382 394,898 Investments on 59,236
OBJECTIVE: To enable learners to utilize financial ratios as a mechanism to evaluate the firm's financial performance and identify areas for making decisions for improvement REQUIREMENT: Financial Statement Analysis Question Refer to the following financial statements of Delima Corporation for 2019 and 2020: Delima Corporation Income Statements For the year ended 31 December (in millions) 2020 $13,198 7,750 2019 $12,397 7,108 Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations 5,448 5,289 3,472 3,299 1,976 1,990 Interest expense 233 248 Other (income) expense, net 11 1,732 503 1,229 Income before income taxes 1,742 Income tax expense 502 Net income 1,240 Delima Corporation Balance Sheets 31 December (in millions) 2020 2019 Assets Current assets Cash $460 $444 Accounts receivables (net) 1,188 1,132 1,190 1,056 225 2,915 3,128 Inventories Other current assets 247 Total current assets 3,027 3,281 Property (net) 5,593 $11,901 Other assets…
https://docs.google.com/forms/d/e/1FAlpQLSXorlaxIMYwWjdrexbNIB0F6zOshlaGsSzvcHy9vKm0jUnAg/formResponseipli=1 Income Statement: The income statement of Taco Bell company is given for the years 2020 & 2019. 2020 2019 General and administrative expenses 25,000 24,000 Interest expense 1,200 1.500 Net sales $124,000 $138 000 12,720 11,880 $1,109 5 108.000 Selling expenses Income taxes 1,883 95,000 COGS 450 600 Gain on Sale of land
Based on revenu test which of the foregoing are reportable segments? A. A,B,C B. A,B,C,D c.A,B,C,D,E D. A,B
VII. Direction: Compute and interpret. The following comparative financial statements are provided by Avatar Industries. You were asked to compute the different financial ratios and provide your interpretations with regards to profitability, efficiency, liquidity and solvency of the company. Use the Answer Sheet template below to input your answer and solution. AVATAR INDUSTRIES AVATAR INDUSTRIES Comparative Statement of Financial Position For the years 2019 and 2018 Comparative Income Statement For the years 2019 and 2018 2019 2018 2019 2018 ASSETS Current Assets: Sales P200,000 P210,000 Cash & Cash Equivalent P65,000 P70,000 Sales Returns and Allowances 40,000 25,000 Accounts Receivable 40,000 35,000 Net Sales 160,000 185,000 Marketable Secuities 40,000 35,000 Cost of Goods Sold 100,000 115,625 Inventory 100,000 80,000 Gross Profit 60,000 69,375 Total Current Assets 220,000 200,000 160,000 P445,000 P380,000 245,000 Operating Expenses: Fixed Assets Selling Expenses 22,000 25,000 Total…
VII. Direction: Compute and interpret. The following comparative financial statements are provided by Avatar Industries. You were asked to compute the different financial ratios and provide your interpretations with regards to profitability, efficiency, liquidity and solvency of the company. Use the Answer Sheet template below to input your answer and solution. AVATAR INDUSTRIES AVATAR INDUSTRIES Comparative Statement of Financial Position For the years 2019 and 2018 Comparative Income Statement For the years 2019 and 2018 2019 2018 2019 2018 ASSETS Current Assets: Sales P200,000 P210,000 Cash & Cash Equivalent P65,000 P70,000 Sales Returns and Allowances 40,000 25,000 Accounts Receivable 40,000 35,000 Net Sales 160,000 185,000 Marketable Securities 40,000 35,000 Cost of Goods Sold 100,000 115,625 Inventory 100,000 80,000 Gross Profit 60,000 69,375 Total Current Assets 245,000 220,000 Operating Expenses: Fixed Assets 200,000 160,000 Selling Expenses 22,000 25,000 Total Assets P445,000…
Please assist with 3.2
Part A. The following information is available for Entity A: Sales revenue Sales returns and allowances Sales discounts Cost of goods sold Operating expenses Interest expense Gain on sale of land Interest revenue $840,300 10,000 7,800 475,000 187,200 11,000 129,300 3,500 Instructions 1. Use the above information to prepare a multiple-step income statement for the year ended December 31, 2024. Please look at Illus. 5.12 in the text for an example. The income tax rate is 23%. Check figures: Income from operations is $160,300. Net income is $217,217. 2. Compute the profit margin and the gross profit rate. Show and label calculations. 3. Suggest at least three ways these measures might be materially improved and net income increased. Be sure to consider the relationship between net sales, cost-of- goods-sold and gross profit. 4. Last year, the profit margin was 15%. Is the increase in the profit margin this year sustainable, i.e. likely to continue? (Hint: consider what item was largely…