Chapter 1, Problem 3Q

BrightTech Corp. reported the following cost of goods sold (COGS) figures over three years: • 2023: $3,800,000 • 2022: $3,500,000 • 2021: $3,000,000 If 2021 is the base year, what is the percentage increase in COGS from 2021 to 2023?

Sun Electronics operates a periodic inventory system. At the beginning of 2022, its inventory was $95,750. During the year, inventory purchases totaled $375,000, and its ending inventory was $110,500. What was the cost of goods sold (COGS) for Sun Electronics in 2022?

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A clothing retailer provides the following financial data for the year. Determine the cost of goods sold (COGS): ⚫Total Sales: $800,000 • Purchases: $500,000 • Sales Returns: $30,000 • Purchases Returns: $40,000 • Opening Stock Value: $60,000 • Closing Stock Value: $70,000 Administrative Expenses: $250,000

subject : general accounting question

BrightTech Inc. had stockholders' equity of $1,200,000 at the beginning of June 2023. During the month, the company reported a net income of $300,000 and declared dividends of $175,000. What was BrightTech Inc.. s stockholders' equity at the end of June 2023?

Question 3Footfall Manufacturing Ltd. reports the following financialinformation at the end of the current year: Net Sales  $100,000 Debtor's turnover ratio (based on net sales) 2 Inventory turnover ratio  1.25 fixed assets turnover ratio  0.8 Debt to assets ratio  0.6 Net profit margin 5% gross profit margin 25% return on investments  2% Use the given information to fill out the templates for incomestatement and balance sheet given below: Income Statement of Footfall Manufacturing Ltd. for the year endingDecember 31, 20XX(in $) Sales  100,000 Cost of goods sold    gross profit    other expenses    earnings before tax   tax @ 50%   Earnings after tax      Balance Sheet of Footfall Manufacturing Ltd. as at December 31, 20XX(in $)  Liabilities Amount  Assets  Amount  Equity    Net fixed assets    long term debt  50,000 Inventory   short term debt    debtors        cash    Total    Total

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Stockholders' equity increased