A sole trader has the following items in the book accounts: Sales R60 000; Cost of Sales R50 000; Opening Stock R10 000; Purchases R40 000; Wages R20 000 and Office Rent R10 000. What is the value of net profit /loss?
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A sole trader has the following items in the book accounts: Sales R60 000; Cost of Sales R50 000; Opening Stock R10 000; Purchases R40 000; Wages R20 000 and Office Rent R10 000. What is the value of net
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- Given the following data; TOTAL SALES OMR 250000 CASH SALES OMR 125000 SALES RETURN OMR 5000 OPENING SUNDRY DEBTORS OMR 20000 CLOSING SUNDRY DEBTORS OMR 10000 What will be the Debtors Turnover Ratio (DTR)? a.16 b.6 c.5 d.8Phina A. Asa Trading gives you the following information for the year ended December 31,2019 a. Cost of Sales (60% of sales) Php. 57,600.00 b. Cash sales ? 79,160.00 7,000.00 10,275.00 4,000.00 6,500.00 2,138.00 c. Cash paid to suppliers d. Paid taxes e. Purchased equipment f. Paid dividends g. Proceeds of loan Cash, beginning 01/2019 Note: Sales are recorded under cash basis.Use the following information to answer this question: Windswept, Incorporated 2021 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts received Inventory Total Net fixed assets Total assets What is the equity multiplier for 2021? Multiple Choice 1.78 times 3.33 times 2.25 times 1.31 times 2.64 times 2020 2021 $ 250 890 $ 9,900 7,650 390 $ 1,860 88 Windswept, Incorporated 2020 and 2021 Balance Sheets ($ in millions) $220 990 1,750 1,655 $ 2,960 $ 2,795 3,360 3,880 $ 6,320 $ 6,675 $ 1,772 372 $1,400 Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity 2020 $ 1,540 1,010 3,240 530 $ 6,320 2021 $ 1,632 1,293 2,970 780 $ 6,675
- Given the following data; TOTAL SALES OMR 250000 CASH SALES OMR 125000 SALES RETURN OMR 5000 OPENING SUNDRY DEBTORS OMR 20000 CLOSING SUNDRY DEBTORS OMR 10000 What will be the average debtors? a. OMR 30000 b. OMR 10000 c. OMR 15000 d. OMR 7500Using your P&L account and Balance sheet sheet complete the following calculations: Gross Profit margin Gross Profit Percentage margin Net Profit margin Net Profit Percentage margin Current Ratio Acid Test ROCE In addition to these calculations, please make analysis and interpretations of the data determined. From the data below please complete a P&L Account Opening Stock - £800,000 Depreciation - £80,000 Advertising expenses - £60,000 Rent - £15,000 Salaries - £56,000 Commission - £5,000 Other expenses - £7,000 Closing Stock - £200,000 Sales - £1,000,000 From the data below please complete a Balance Sheet with the appropriate sections including Fixed Assets, Current Assets, Other Assets, Long Term Liabilities, short term liabilities and Equity. Land - £ 24,300 Equipment - £45,000 Intangible asset - £3,700 Accounts Payable - £30,000 Notes Payable - £10,000 Building and Improvements - £250,000 Account Expenses - £7,000 Additional Paid in capital -…The records of a business show the following information. Sales, p724,200; Sales discounts, P10,000; Sales returns; P3,600; and Freight-in, P5,300. How much is the net sales?
- Use the following information to answer this question: Bayside, Incorporated 2021 Income Statement ($ in thousands) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts received Inventory Total Net fixed assets Total assets What is the equity multiplier for 2021? Multiple Choice 1.55 times 52 times 1.04 times 2.03 times 2020 Bayside, Incorporated 2020 and 2021 Balance Sheets ($ in thousands) $75 920 2021 $ 180 760 $ 5,920 4,190 320 $ 1,410 27 $ 1,383 290 $ 1,093 1,540 2,000 $ 2,535 $ 2,940 3,550 3,380 $ 6,085 $ 6,320 Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity 2020 $ 1,420 750 3,105 810 $ 6,085 2021 $ 1,710 540 3,010 1,060 $ 6,320Examine the effect of the actions below on the current ratio. Assume that the prevailing current ratio is higher than 1.0. (i) Use cash to pay off current liability of $10,000 (ii) Purchase raw materials amounting to $10,000 on credit (iii) Sale of inventory (iv) Paying a dividendExamine the effect of the actions below on the current ratio. Assume that the prevailing current ratio is higher than 1.0.(i) Use cash to pay off current liability of $10,000(ii) Purchase raw materials amounting to $10,000 on credit(iii) Sale of inventory(iv) Paying a dividend
- Solution gives as: 1- Current ratio ? :1 2- Return on common stockholders equity ? % 3- Price Earnings Ratio ? Times 4- Accounts receivable turnover ? Times 5- Times interest earned ? Times 6- Profit Margin ? % 7- Days in inventory ? Days 8- Payout Ratio ? % 9- Return on Assets ? %Given the following data; TOTAL PURCHASES 150000 CASH PURCHASES 45000 PURCHASE RETURN 5000 OPENING CREDITORS 30000 CLOSING CREDITORS 20000 What will be the Creditors Turnover Ratio (TOR)? O a. 3 O b.6 O.8 O d. 4Use the following information to answer this question. Windswept, Incorporated 2022 Income Statement (in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts receivable Inventory Total Net fixed assets Total assets What is the return on equity for 2022? $ 8,700 7,340 405 $ 955 82 $ 873 306 $ 567 Windswept, Incorporated 2021 and 2022 Balance Sheets (in millions) 2021 $ 150 $ 185 920 1,520 730 1,550 $2,590 $2,465 3,260 3,670 $ 5,850 $ 6,135 2022 Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity 2021 $ 1,180 1,000 3,210 460 2022 $1,260 1,265 2,900 710 $ 5,850 $6,135