The following data relate to Tech Edge in 2023. What is the ending inventory? Purchases: $600,000 Beginning Inventory: $90,000 Purchase Returns: $15,000 Sales: $900,000 Cost of Goods Sold: $525,000 a) $150,000 b) $160,000 c) $200,000 d) $250,000
Q: Need answer the accounting question please answer
A: Step 1: Define Variable CostingVariable costing is a method of inventory valuation in which only…
Q: What is the degree of opereting leverage???
A: 1. Calculate Total Revenue:Total Revenue = Units Sold * Unit PriceTotal Revenue = 2,000 units *…
Q: Brightside pest Control... please answer this accounting question
A: Step 1: Define Net IncomeNet income is the amount of earnings left after subtracting all expenses,…
Q: Don't use ai given answer accounting questions
A: Step 1: Definition of Days Sales in Receivables (DSR)Days Sales in Receivables (DSR) measures how…
Q: Provide correct answer the financial accounting question
A: Step 1: Define Adjusting EntriesAdjusting entries are journal entries made at the end of an…
Q: A review of Bearing's Year 2 records disclosed the following tax information: Wages $20,000; Taxable…
A: To calculate Bearing's Year 2 Adjusted Gross Income (AGI), we need to sum up all income sources and…
Q: Answer
A: The question requires the determination of the debt-to-equity ratio. The debt-to-equity (D/E) ratio…
Q: Solve asap. General Accounting.
A: Step 1: Identify the Taxable Income Formula Step 2: Input the Given Values Step 3: Substitute the…
Q: Please solve this question general accounting
A: Step 1: Define Net ProfitNet profit or net income is the ultimate profit generated by a company…
Q: Financial accounting question
A: Step 1: Define Net IncomeNet income is the profit made by a company after deducting the expenses…
Q: A stock has returns of solve this question general Accounting
A: The question requires the determination of the holding period return. Holding period return is the…
Q: Given answer accounting questions
A: The Degree of Operating Leverage (DOL) can be calculated using the formula:DOL=%Change in Net…
Q: Question
A: The question requires the determination of the ROA. ROA or Return on Assets is a profitability…
Q: Please give me answer this financial accounting question
A: Step 1: Define Debt-Equity RatioThe ratio of the total debt relative to the total equity is called…
Q: Solve this question financial accounting
A: Step 1: Define Equivalent UnitsEquivalent units represent the number of complete units that could…
Q: The equity of Alliance Company is $198,300 and the total liabilities are $16,700. The total assets…
A: Explanation of Liabilities:Liabilities are financial obligations or debts that a company owes to…
Q: Total assets change during that same period? General accounting
A: Explanation: In the given case, it is stated that the total liabilities decreased by $18,500 and…
Q: None
A: Step 1: Define Gross ProfitIn accounting, the gross profit refers to the total amount of revenue…
Q: Get solution this general accounting question not use ai
A: Formula:Current Ratio = Current Assets / Current LiabilitiesAcid-test Ratio (or Quick Ratio) =…
Q: Need help with this accounting questions
A: Step 1: Definitions of Selling Price: The amount received from selling the asset.Book Value: The net…
Q: Provide correct answer general accounting
A: Step 1: Calculate the selling price per unitStep 2: Calculate the variable cost per unit:Step 3:…
Q: Find solution in general account questions
A: To compute the cost of ending work in process (WIP) inventory, we calculate the equivalent units for…
Q: In Mica Company, total material costs are $43,500, and total conversion costs are $56,300.…
A: Explanation of Unit Costs:Unit costs represent the cost assigned to each unit of production for…
Q: Financial Accounting Question please solve this problem
A: Step 1: Dollar markup Dollar markup = Selling price - CostDollar markup = $30 - $20.50Dollar markup…
Q: WaNt AnSwEr
A: Explanation of Balance Sheet: A balance sheet is a financial statement that provides a snapshot of a…
Q: Can you please answer this accounting question?
A: Step 1: Define Degree of Operating Leverage (DOL)The Degree of Operating Leverage (DOL) measures how…
Q: R-Mart has a beginning receivables balance on February 1 of $1050. Sales for February through May…
A: Explanation of Accounts Receivable:Accounts receivable represent the amount owed to a company by its…
Q: Aaker Corporation, which has only one product, has provided the following data concerning its most…
A: Explanation: In the given case, we are required to calculate the unit product cost under variable…
Q: Net Income reported under variable costing will exceed net income reported under full costing during…
A: The correct answer is:a. The number of units sold exceeds the number of units produced during the…
Q: Provide correct answer general Accounting
A: Definition of Gross ProfitGross profit is the amount of revenue remaining after deducting the cost…
Q: Determine the term being defined or described by the following statement: An economic resource that…
A: The common definition of an asset is some resource that is expected to generate some future benefit…
Q: None
A: Step 1: Define Marginal CostingMarginal costing is a decision-making technique that managers use to…
Q: Problem related to Accounting
A: Concept of Debt-to-Equity Ratio:The debt-to-equity ratio is a financial metric that measures the…
Q: Applying LCM, NeCo determines that as of Dec. 31, 20x3, merchandise that originally cost $46,300 is…
A: The correct answer is:d. Make an entry to increase cost of goods sold. Explanation of the LCM Rule…
Q: Please provide this question solution general accounting
A: Step 1: Define Standard Cost VariancesIn a standard costing system, manufacturing expenses are…
Q: Yum Yum Meat Company uses a process costing system. The following information relates to one month's…
A: Step 1: Determine the equivalent units of conversion:• Calculate equivalent units for completed and…
Q: Which of the following best describes costs assigned to the product under the variable costing…
A: The correct answer is:b. DL, DM, and variable manufacturing overhead. Explanation:Variable…
Q: Financial accounting question
A: Step 1: Define Earnings Per Share (EPS)EPS measures the company's profitability allocated to each…
Q: Please answer the following requirements on these general accounting question
A: Step 1: Define Accounts Receivable Turnover and Number of Days' Sales in ReceivablesAccounts…
Q: What is ending inventory??
A: Step 1: Define Cost of GoodsThe cost of inventory held for sale, the cost of sales, and the cost of…
Q: For this module’s discussion, visit the site, The 75 KPIs Every Manager Needs to KnowLinks to an…
A: Key Performance Indicators (KPIs) are a set of quantifiable measures that a company uses to gauge…
Q: I want to this question answer general Accounting
A: Step 1: Define Present Value of Growth OpportunitiesThe present value of growth opportunities (PVGO)…
Q: Need answer
A: The question requires the determination of the ROE and the ROIC.Return on equity (ROE) is a…
Q: General Accounting Question please answer
A: Step 1: Dollar markup Dollar markup = Selling price - CostDollar markup = $30 - $20.50Dollar markup…
Q: None
A: Step 1: Define Gross Profit FormulaIn accounting, the gross profit is usually calculated when the…
Q: Calculate it's gross profit?
A: The calculation of Gross Profit is as follows:Gross Profit = Sales - Cost of Goods Sold…
Q: I need this question answer general Accounting
A: Step 1: Define Common EquityCommon equity refers to the amount of investment by investors in the…
Q: I want help of financial accounting expert
A: Approach to solving the question:25 Detailed explanation:Given Data:Net Income = $44,700Total Equity…
Q: Solve this question general Accounting
A: Step 1: Define Contribution Margin and Net Operating IncomeContribution Margin: Contribution margin…
Q: Subject:- General Account
A: To calculate the equivalent units for materials using the weighted average method, we need to…
The following data relate to Tech Edge in 2023.... Please provide answer the accounting question
Step by step
Solved in 2 steps
- Use the following information relating to Medinas Company to calculate the inventory turnover ratio, gross margin, and the number of days sales in inventory ratio, for years 2022 and 2023.Use the following information relating to Clover Company to calculate the inventory turnover ratio, gross margin, and the number of days sales in inventory ratio, for years 2022 and 2023.Data taken from the records of XYZ Co. revealed the following for 2020: Inventory - January 1 :P2,000,000; Net purchases : P7,000,000; Inventory - December 31 : P2,800,000; Sales Returns and allowances: P750,000. Gross profit based on net sales is 20%. How much is the gross sales for 2020?
- CAC Co. provided these information for 2020: Inventory - January 1 : P400,000; Freight in : P300,000; Purchase Returns : P900,000; Inventory - December 31 : P500,000; Selling expenses: P1,250,000; Sales Discount: P250,000. The cost of sales is six times the selling expenses. How much is the gross purchases for 2020? A. P6,500,000 B. P6,700,000 C. P8,000,000 D. P8,200,000 E. answer not givenFor 2022 Amaya's Soul Food Catering had total sales of $597,341; sales returns and allowances of $10,514; beginning inventory costs of $38,917; cost of purchases, $261, 053; and year-end inventory of $42,013. Rounded to the nearest dollar (i.e. 12), what are their Net Sales? A • Rounded to the nearest dollar (i.e. 12), what is their Cost of Goods Sold? A • Rounded to the nearest dollar (i.e. 12), what is their Gross Profit? A/The following information is available for Grace Company for 2020: Disbursements for purchases P1,050,000; Increase in trade accounts payable 75,000; Decrease in merchandise inventory 30,000; Costs of goods sold for 2010 was P1,155,000. P1,095,000. P945,000.
- VijaySuppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. Calculate the inventory turnover for 2020, 2021, and 2022.Anpanman, Inc. reported the following information for the year 2020: • Beginning Inventory- P5,000,000 • Purchases- P26,000,000 • Freight In- P2,000,000 • Purchase returns and allowances- P3,500,000 • Purchase discounts- P1,500,000 • Sales- P40,000,000 • Sales returns- P3,000,000 • Sales allowances- P500,000 • Sales discounts- P1,000,000 Physical inventory on the company’s warehouse was made at year-end, which shows that P4,000,000 worth of inventory is physically located within the company’s premises. However, unsold goods out on consignment with selling price of 1,000,000 are still on the consignee’s premises. Based on history, Anpanman uses a gross profit rate of 40%. How much is the estimated inventory loss? A. P2,100,000 B. P2,700,000 C. P1,200,000 D. P1,800,000
- Do fast answer of this accounting questionsI need answer of this question solution general accountingShelcal, Inc. provides the following data for the year 2019: Net Sales Revenue, $437,690; Cost of Goods Sold, $255,000. O The gross profit as a percentage of net sales is (Round your answer to two decimal places.) OA) 37.96% OB) 39.80% OC) 60.20% OD) 40.8%