(v) Depreciation charged in costing books is 12,500 and in financial books is 11,200. What willbe the financial profit when costing profit is ? 5,000?A. 5,000B. १3,700C १6,300D. None of the above(vi) A bus carries 25 passengers daily for 25 days and its mileage per month is 2,000 kms. Itspassenger kms. areA. 60,000B. 25,000C. 40,000D. 50,000

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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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2 Break-even. Value-Chains makes keychains out of gold. Each keychain can be sold for $100. The materials cost is $40. The Öxed costs incurred each year for factory and administrative expenses are $200,000. The machinery costs $1 million and is depreciated straight-line over 10 years to a salvage value of zero. 1. What is the accounting break-even level of annual sales in terms of number of keychains sold? 2. What is the NPV break-even level of sales assuming a tax rate of 35%, a 10-year project life, and a discount rate of 12%? 3. Elaborate on your observations and decisions. (Variable cost per unit remains unchanged)
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2. Clayton Corporation recently purchased a new machine for $307,890 with an eight-year life. The old equipment has a remaining life of eight years and no disposal value at the time of replacement. Net cash flows will be $90,000 per year. What is the internal rate of return? a) 24% b) 29%c) 33%d) None of the above
For all questions work to 1 decimal place and assume VAT at 19%. You must justify each answer.1.- Why does a company choose to have bad debts? Explain with a numerical example. 2.- In depreciation by use (per hour), if a Fixed Asset of $1,000 has accumulated depreciation of $600, residual value of $100 and during a period the machine is used for 400 hours when its initial useful life was 40,000 hours, what depreciation should be recognised? 3.- In depreciation by use (per hour), if a fixed asset of $1,000 has accumulated depreciation of $600, residual value of $100 and during a period of time the machine is used for 400 hours when its initial useful life was 40,000 hours and at the beginning of that period there is an improvement of $200, what depreciation should be recognised? 4.- Make the entry for the recognition of the write-off of a customer to whom you had invoiced $1,000 plus VAT if the company had an Allowance for Impairment of Accounts Receivable of $600.5.- Does the Profit…
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Is the return on this investment proposal exactly 14%, more than 14%, or less than 14%? Explain. The Net Present Value Method-An Extended Example
At the end of a capital project the equipment has been fully depreciated and is sold for $30,000. Working capital in the amount of $10,000 is also no longer needed for the project and converted to cash. The company's tax rate is 40%.What is the total terminal cash flow for this project? A.22,000 B.8,000 C.28,000 D.40,000
Find the selling price of an item which has a cost price of $15.61 and is sold at a loss of 371/2 % Ans $9.76 The government borrowed a certain amount of money to build a new bridge. It pays interest at a rate of 12%. If the yearly repayments are $320,000, calculate the amount borrowed. A potter finds he takes 5 hours to produce 8 vases. If he continues to work at the same rate , find: How long it will take him to make 20 vases How complete vases can be made in 24 hours Two brothers aged 15 and 10 years are given $3000 to be divided between them in the ratio of their ages. How much does each receive? If the cost of an article is $104 and its selling price is $120. Find the percentage profit.
Green Farms, Inc. had sales of $500,000, cost of goods sold of $180,000, selling and administrative expense of $70,000, and operating profit of $90,000. What was the value of depreciation expense? a.$230,000 b.None of these c.Less than $170,000 d.$170,000
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10. A small business with an initial investment of ETB. 12,000 earns a profit of ETB 10,000 during the first year of its operation and the profit increases by ETB. 1,000 from its second year of operation up to its 10th year of operation. At the end of the life of the business, the salvage value is zero. Find the present worth of the business by assuming an interest rate of 18%, compounded annually.
Example (1):- If the original value of the machine is 25000$ and it is 5 year old, what the value rate of the machine, if there was not any recovery value. Example (2):- For the previous example the recovery amount of the equipment is 5000$. What is the value rate of the machine? Table (1): Average Rates for Investment Costs Average Value (%) 3 - 9 2 - 5 1 - 3 0.5 – 1..5 Item Interest Тах Insurance Storage

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