Please answer last two subparts only thnku The following information was extracted from the financial statements of Dollarama Ltd:Summarised Income Statement For The Year Ended 31 March20212022SalesLess: Cost of salesOpening inventoryAdd: PurchasesLess: Closing inventoryGross profit for the yearLess: Operating expensesNet profit for the yearCurrent AssetsInventoryAccount Receivable$000Current LiabilitiesAccounts payableBank overdraft in CIBC7204.1604,8801.080$000Balance Sheet Extracts As At March 312021$0001,080900$0006,200Notes:1) Cash sales for the year ended March 31, 2021 were $200,000 and cash sales for the year ended March31, 2022 were $600,000 respectively.2) All purchases were on credit.820403.8002,4001.800600iii. Inventory turnoveriv. Accounts receivable collection period in daysv. Accounts payable settlement period in days1,980$0008601,0805.1606.2401.4402022$0001,4401.4001,380340REQUIRED(a) Calculate, to two decimal places, the following ratios for each of the two years:i. Working capitalii. Acid test ratio (Quick ratio)$0007,6004.8002,8002.200600$0002,8401,720

Accounts receivable collection period in days :— It is the average days required for the customer…

The following information was extracted from the financial statements of Dollarama Ltd: Summarised Income Statement For The Year Ended 31 March 2021 2022 Sales Less: Cost of sales Opening inventory Add: Purchases Less: Closing inventory Gross profit for the year Less: Operating expenses Net profit for the year 2) All purchases were on credit. Current Assets Inventory Account Receivable $000 Current Liabilities Accounts payable Bank overdraft in CIBC 720 4.160 4,880 1.080 $000 Notes: 1) Cash sales for the year ended March 31, 2021 were $200,000 and cash sales for the year ended March 31, 2022 were $600,000 respectively. Balance Sheet Extracts As At March 31 2021 $000 1,080 900 $000 6,200 820 40 3.800 2,400 1.800 600 iii. Inventory turnover iv. Accounts receivable collection period in days v. Accounts payable settlement period in days 1,980 $000 860 1,080 5.160 6.240 1.440 2022 $000 1,440 1.400 1,380 340 REQUIRED (a) Calculate, to two decimal places, the following ratios for each of the two years: i. Working capital ii. Acid test ratio (Quick ratio) $000 7,600 4.800 2.800 2.200 600 $000 2,840 1,720

The following information was extracted from the financial statements of Dollarama Ltd: Summarised Income Statement For The Year Ended 31 March 2021 2022 Sales Less: Cost of sales Opening inventory Add: Purchases Less: Closing inventory Gross profit for the year Less: Operating expenses Net profit for the year 2) All purchases were on credit. Current Assets Inventory Account Receivable $000 Current Liabilities Accounts payable Bank overdraft in CIBC 720 4.160 4,880 1.080 $000 Notes: 1) Cash sales for the year ended March 31, 2021 were $200,000 and cash sales for the year ended March 31, 2022 were $600,000 respectively. Balance Sheet Extracts As At March 31 2021 $000 1,080 900 $000 6,200 820 40 3.800 2,400 1.800 600 iii. Inventory turnover iv. Accounts receivable collection period in days v. Accounts payable settlement period in days 1,980 $000 860 1,080 5.160 6.240 1.440 2022 $000 1,440 1.400 1,380 340 REQUIRED (a) Calculate, to two decimal places, the following ratios for each of the two years: i. Working capital ii. Acid test ratio (Quick ratio) $000 7,600 4.800 2.800 2.200 600 $000 2,840 1,720

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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O PowerPoint O from Towards a O Mail - Edjouline X E Content - ACG: X * CengageNOWv. x D (58) YouTube v2 cengagenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker=assignments&takeAssignmentSessionLocator=assignment-take&inpro. Q < * * C WouTube O Maps ANKSHEET Entries for Notes Receivable Spring Designs & Decorators issued a 120-day, 4% note for $60,000, dated April 13 to Jaffe Furniture Company on account. Assume a 360-day year when calculating LANKSHEET interest. LGO a. Determine the due date of the note. LGO b. Determine the maturity value of the note. cl. Journalize the entry to record the receipt of the note by Jaffe Furniture. c2. Journalize the entry to record the receipt of payment of the note at maturity. If an amount box does not require an entry, leave it blank. 24 068 s: 912 items Previous Next 回习 9 O 11:49
M You x O File: xLA File x + Ass X Q App x Q Rev x O Que X 202 X C [Th X O ISB X E Can x to.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%25 DuTube A Maps f Login - Rowan Uni. A My Drive - Google. ID ID.me | Simple, Se. A Division of Unemp.. plied C Class Principles of.. omework- Assignment 1 Saved Help On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend. Common stock-$10 par value, 60,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $ 600,000 250,000 685,000 Total stockholders' equity $ 1,535,000 (1) Prepare the updated stockholders' equity section after the distribution is made. (2) Compute the number of shares outstanding after the distribution is made. Complete this question by entering your answers in…
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u Online C (78) Wha X M Uh-oh! T X Accounti X M Inbox (2, x O SP2021 Answere x E3 My Hom x * Cengage x Bartleby x + D X A v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?inprogress=true FMovies | Watch M. BIO201 Connect 10.. M Gmail D YouTube Fourth Homework O eBook 9. MC.12.09 Research and Development 10. MC.12.10 Instructions Chart Of Accounts General Journal 11. RE.12.01.BLANKSHEET Instructions 12. RE.12.02 Notting Hill Company incurred the following costs for R&D activities: 13. RE.12.03.BLANKSHEET Material used from inventory $15,000 14. RE.12.04.BLANKSHEET Equipment purchased (with cash) for R&D with no other use 85,000 Depreciation on building housing multiple R&D activities 10,000 15. RE.12.05.BLANKSHEET Wages and salaries paid to R&D employees 38,500 16. RE.12.06.BLANKSHEET Required: 17. RE.12.07.BLANKSHEET Prepare Notting Hill's journal entry(ies) to record its R&D. 18. RE.12.08 19. RE.12.09.BLANKSHEET 20. RE.12.10.BLANKSHEET 21. EX.12.01 22. EX.12.02.BLANKSHEET O…
1 You x O File: X A File X Ass X Q App x 202 x Rev X O Que x [Th O ISB X - Can x .mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%2E Tube A Maps + Login - Rowan Uni. A My Drive - Google.. ID ID.me | Simple, Se.. 9 Division of Unemp.. Class Principles of. Alied C mework- Assignment 1 i Saved Help On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend. Common stock-$10 par value, 60,000 shares issued and outstanding Paid-in capital in excess of par value, common stock $ 600,000 250,000 685,000 $ 1,535,000 Retained earnings Total stockholders' equity (1) Prepare the updated stockholders' equity section after the distribution is made. (2) Compute the number of shares outstanding after the distribution is made. Complete this question by entering your answers in the tabs…
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ChatGi X Gincome X > DeepL X zto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mhe Questi X ssignment i Use the following information for the Quick Studies below. (Algo) [The following information applies to the questions displayed below.] On December 31, Hawkin's records show the following accounts. $ 5,900 1,000 3,600 14,800 Cash Accounts Receivable Supplies Equipment Accounts Payable Hawkin, Capital, December 1 Hawkin, Withdrawals Services Revenue Wages Expense Rent Expense Utilities Expense HAWKIN Statement of Owner's Equity For Month Ended December 31 Hawkin, Capital, December 1 Add: Investments by owner Hawkin, Capital, December 31 6,400 15,300 1,800 $ 16,400 8,000 1,900 1,100 QS 1-16 (Algo) Preparing a statement of owner's equity LO P2 Use the above information to prepare a statement of owner's equity for Hawkin for the month ended December 31. Hint: Owner investments are $0 for the period. 0 Copia d X 0 0 chat.op X Log…
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