What is the net sales of the entity for 2016? The beginning balances of the accounts reccivable and allowance for bad debts accounts ofGoodness Co. are P3,000,000 and P30,000, respectively. On your audit of the financialstatements for the period ended and as of Decembar 31, 2016, you have gathered thefollowinginformation:Credit salcs; terms 2/10, 1/15, n/30Total Collections10,000,0007,430,000Accounts written off20,000Recoveries5,000Sales returns15,000Additional information50% of the credit sales were collected within the 10-day discount period and 20%were collected within the 15-day discount periodRecoveries were immediately collected upon setting back the reccivableThe entity follows the percentage of accounts receivable to determine the balance ofallowance for bad debts

Net sales is calculated by substraction of sales return, allowance and sales discount from Gross…

Answered: What is the net sales of the entity for…

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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Required: Compute the following ratios for 2020: 1. Current Ratio 2. Quick Ratio 3. Receivable Turnover 4. Average Collection Period 5. Inventory Turnover 6. Average Sales Period 7. Working Capital 8. Debt Ratio 9. Equity Ratio 10. Debt to Equity Ratio 11. Time Interest Earned 12. Gross Profit Ratio 13. Operating Profit Margin 14. Net Profit Margin 15. Return on Assets
Calculate the following profitability ratios for 2018 and 2019. a. Gross profit ratio b. Return on assets c. Profit margin d. assets turnover
Accounting Question
What interest income should reported for 2017
12. Which two ratios multiplied by each other equal Return on Total Assets? (A) Profit Margin (B) Return on Equity (C) Current Ratio (D) Price Earnings Ratio (E) Total Asset Turnover
Can you do 2022 income statement of this table? Statement of Profit or Loss and Other Comprehensive Income Presentation Currency Nature of Financial Statements Revenue Revenue from Finance Sector Operations Total Revenue Cost of Sales Cost of Finance Sector Operations Total Costs Gross Profit (Loss) from Commercial Operations Gross Profit (Loss) from Finance Sector Operations Gross Profit (Loss) Profit (Loss) From Operating Activities Profit (Loss) Before Financing Income (Expense) Profit (Loss) from Continuing Operations, Before Tax Profit (Loss) from Continuing Operations Profit (Loss) from Discontinued Operations Net Profit (Loss) Profit (Loss) Attributable To, Non- controlling Interests Profit (Loss) Attributable To, Owners of Parent Other Comprehensive Income (Loss) Total Comprehensive Income (Loss) Total Comprehensive Income Attributable To, Non-controlling Interests Total Comprehensive Income Attributable To, Owners of Parent 2020/12 1000TL Consolidated 21.529.210 37.824.578…
Which of the following would not be used as a summary performance measure when using market multiples to determine value? Stock price Net operating assets Net operating profit after tax Book value
Requirements 1. Prepare a comparative common-size income statement for Mariner Designs, Inc. using the 2024 and 2023 data. Round percentages to one-tenth percent. 2. To an investor, how does 2024 compare with 2023 ? Explain your reasoning
Which of the following should be used when calculating the weights for a company's capital structure? OA. Historic accounting values OB.Book values OC. Current market values OD. Par and face values
please answer
What is Froelich's asset turnover for 2015?
Hello! look at the attached images and answer: (a) Calculate ratios for the year ended 31 December 2021 (showing your workings) for Primrose Plc, equivalent to those provided above. i. Return on year-end capital employed ii. Net asset turnover iii. Gross profit margin iv. Net profit margin v. Current ratio vi. Closing inventory holding period vii. Trade receivables’ collection period viii. Trade payables’ payment period ix. Dividend yield x. Dividend cover (b) Analyse the financial performance and position of Primrose Plc for the year ended 31 December 2021 compared to 31 December 2020. (c) Explain the uses and the general limitations of ratio analysis. Thanks a lot!

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