ratios
Q: If I took out a loan for $550,000 10 years ago with an interest rate of 7%p.a on a 25 year loan term...
A: Loan (Borrowings): A loan is an agreement to lend money to someone with the intention of repaying it...
Q: In a debt restructuring that is considered an asset swap, the gain on extinguishment is equal to the...
A: The asset swap represents that the inventors purchase the bond and adopt the interest rate swap with...
Q: What is the total factory overhead costs incurred by Personal Protective Gears & More during the per...
A: Factory Overhead costs are the amount of indirect expenses and costs that are incurred in the factor...
Q: Alfredo, Befoe, and Cefoe decided to liquidate their partnership. The accounts prior to liquidation ...
A: Liquidation means where the company decide to close out the operations , sell all the assets and pai...
Q: you bought 200 shares of Amazon when they issued their IPO in May 1997 for $18/share and then sold a...
A: Capital gain is the profit earned by an investor on the investment due to the increase in the price ...
Q: Sales revenue (2,000 units * $50 per unit) $100,000 Cost of goods sold: Variable (2,00...
A: Formula: Net Income = Total revenues - Total expenses
Q: Following is a random list of some of the accounts and their December 31, 202u, balances for J Maram...
A: Net operating income means the income earned after deducting all operating expenses and cost of good...
Q: The NUBD Co. Sells Product A for P60 each. Variable costs are P36 per unit. Fixed costs are P375,000...
A: Contribution margin per unit = Sales value - variable cost = 60 - 36 = 24 per un...
Q: Personal Protective Gears & More (PPGM) design and manufacture masks for students. After production,...
A: In the given question, we are provided with data related to inventory and other information. On the ...
Q: Which of the following does not meet the definition O the signing of a cancellable contract for purc...
A: Solution: "The signing of a cancellable contract for purchase commitment" does not meet the definiti...
Q: Problem 4: DONNER Company issued 3-year, 12% bonds with face amount of P4,000,000. Interest is payab...
A: The bonds are issued at premium when market rate is higher than the face value of bonds.
Q: Problem 6. The Accountant of Camera Film Company has established the following activity cost of pool...
A: ABC costing is activity based costing which helps in allocation of indirect costs or expenses accord...
Q: North Co. Issued bonds on July 1, 2018 worth $100,000 with a coupon rate of 10% and an effective int...
A: Bond is an investment security which is issued to arrange the fund by large firms and government und...
Q: Distinguish between responsibility, authority, and accountability
A: Responsibility: When a sub-ordinate is obligated to perform the duties assigned to him, it becomes h...
Q: Question 2 Cashbook Receipts of Towel Talk - February 2021 The following information was taken from ...
A: All amounts are in (R).
Q: In early January 2020, HUMID Corporation applied for a trade name, incurring legal costs of P160,000...
A: Trademark shall be measured at costs that are directly associated with its registration. In other wo...
Q: Exercise 4-11A (Algo) How the allocation of fixed cost affects a pricing decision LO 4-3 Sibson Manu...
A: The overhead rate is calculated as total estimated cost divided by estimated total units to be produ...
Q: E3-25A Analyze manufacturing overhead (Learning Objectives 3 & 5) Smith Foundry in Columbus, Ohio, u...
A: As per the guidelines, only three subparts are allowed to be answered. Please resubmit the question ...
Q: Mattress King determined its return on assets was 1.5%. Which statement is true? O Mattress King gen...
A: Formula: ROA = Net Income / Average Total Assets.
Q: Which of the following is not a disclosure for a provision? O The carrying amount at the beginning a...
A: solution : correct answer is option : comparative information as per IAS 37 , comparative informatio...
Q: The aounts reflected in the statement of financial position do not reflect the liquadation value of ...
A: Statement of financial position means financial statement which shows position of all assets and all...
Q: Bramble Incasements manufactures protective cases for MP3 players. During November, the company's wo...
A: Standard wages rate = actual wages rate + less than the standard wages rate = $9.06 + 0.54 = $9.60
Q: 1. Explain the Diagram provided below base on your understanding of the concepts of Auditing. RESOUR...
A: Auditing means to check the actual facts and figure on the financial statements as per the standards...
Q: In the installment liquidation of a partnership, each installment of cash is distributed: a) As if ...
A: Liquidation of Partnership Firm: To dissolve a partnership firm is to stop doing business as that pa...
Q: Kikiam Company sells televisions at an average price of P19,000 and also offers to each customer a s...
A: Warranty means where the company is undertaking to make good the loss which has been incurred due to...
Q: Which of the following is the second option in measuring the equity instrument issued to extinguish ...
A: ●Which of the following is the second option in measuring the equity instrument issued to extinguish...
Q: At the beginning of the current year, Bella Company was organized and authorized to issue 100,000 sh...
A: The shareholders' equity section displays all the capital, income or losses that belongs to sharehol...
Q: Eastport Inc. was organized on June 5, Year 1. It was authorized to issue 320,000 shares of $10 par ...
A: Common shares (Transaction 1)=Number of shares×Par value=20,000×$10=$200,000
Q: P5.5 (LO 1, 2, 3), AP The management team of Mohamed Industries was evaluating its performance for t...
A: A) If customer offer to purchase 200 units @50 Variable cost per unit if excluding selling variabl...
Q: CVN Services purchased a 1-year insurance policy on March 1, 2020 for 240,000. The amount of insuran...
A: Prepaid insurance is that insurance expense that is already paid but expenses are not incurred. So p...
Q: On December 31, 2020, the accounting records of the Friends Partnership included the following infor...
A: Liquidation means where the company decide to close out the operations , sell all the assets and pai...
Q: retirement options: at age 25, you start work for a company and are offered two retirement options....
A: The question is based on the concept of Financial Accounting.
Q: Tony Ling was reviewing his business activities at the end of the year (February 28, 2019) and decid...
A: Statement of owners equity shows changes in equity balances of the business during the particular pe...
Q: The Smoky Corporation, a VAT-registered company, imported goods worth P 900,000 paying thereon the c...
A: Value Added Tax (VAT) Value added tax (VAT) which describes as each stage of the production and dist...
Q: An example of a nonproduction cost is a.wages paid to assembly-line employees. b.manufacturing sup...
A: Cost of production means the addition of direct material , direct labor and factory overhead. Expens...
Q: Liability Insurance Company (LIC) writes a substantial amount of commercial liability insurance. Ala...
A: ●1. Ceding Commission is the commission that the insurance company received to cover the underwriti...
Q: Peter Senen Corp has the following data for the fourth week of March: ...
A: Classification of total hours worked into regular hours , overtime hours and hours worked on Sunday ...
Q: On Dec. 31, 2020, an employee filed a P3,000,000 lawsuit against Siomai Company for damages suffered...
A: The journal will be prepared by the company's management, and it will be taken as input for preparin...
Q: NUBD Co. sells two products, Avon and Bona. The company sells these products at the rate of 2 units ...
A: Hi student Since there are multiple subparts, we will answer only first three subparts.
Q: Five Measures of Solvency or Profitability The balance sheet for Quigg Inc. at the end of the curre...
A: Ratio analysis means that various ratio can be calculated with the given date of the company and aft...
Q: he following transactions occurred during the month of June 2021 for the Stridewell Corporation. The...
A: The journal entries are prepared to keep the record of day to day transactions of the business.
Q: Determine the effect or recording each of the six types of adjusting entries on the accounting equat...
A: Adjusting entries are prepared to maintain the accrual base accounting system. These are prepared at...
Q: If Neros pays a cash dividend to its sole stockholder to pay for a family vacation, how is this repo...
A: Introduction: Dividends: Dividends are shareholders funds. Dividends are part of profits.
Q: 16. How many units of each product are needed for Gentry to breakeven at the given sales mix? (Do no...
A: Break even point in units = Fixed cost / contribution per unit 16) A B Sales units 20000 30...
Q: ssume that Kwek-kwek Corp. participates in a customer loyalty program operated by Suka Corporation w...
A: Total Sales of Kwek-Kwek = 10,000,000 As per loyalty program operated by Suka corporation 1 point is...
Q: the corresponding tax. The Smoky Corp. sold the goods at 25% mark-up to the Cloudy Corporation, a wh...
A: solution : VAT rate = 12 % let us note the sales made by each party : smoky corporation ...
Q: The following transactions occurred during 2021 for the Beehive Honey Corporation: Feb. 1 Borrowed $...
A: Interest = Amount Borrowed×9%×1112=$14,000×9%×1112=$1,155
Q: Under the new legislation, an entity is required to fit smoke filters to its factories by December 3...
A: A provision is recorded in the books as an obligation resulting from past actions of the entity.
Q: Which of the following statements relating to financial statements is true? A. Financial statements ...
A: Financial statements are those statements which are prepared at the end of the period in order to an...
Q: T Account entries for Simple Construction: Bob Simple graduated from the BCIT Construction Managemen...
A: Bob Simple graduated from the BCIT Construction Management Program and decided to start his own cons...
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- The following are comparative financial statements of Excellent Marketing Pte Ltd: Excellent Marketing Pte Ltd Comparative Income Statements For the year ended 31 December, 2021 2020 2019 Sales 298,200 249,000 215,700 COGS 108,890 84,262 66,200 Gross Profit 189,310 164,738 149,500 Selling Expenses 34,020 29,685 27,000 Administrative Expenses 25,140 21,915 23,550 Total Expenses 59,160 51,600 50,550 Profit before tax 130,150 113,138 98,950 Income tax Expenses 9,075 8,865 7,950 Net profit 121,075 104,273 91,000 (i) Show the income statement data for the three years in common-size percents. (ii) Interpret the percentage computed and elaborate on the changes to the company performance over the years presentedQuestion 13 The extract disclosed below relates to JohNicho Limited for the year ended December 31, 2021 JohNicho Limited Statement of Comprehensive Income for the year ended 31st December: Net Sales Cost of goods sold SG&A Other costs Operating Income (EBIT) Interest Extraordinary income EBT Taxes Net Income Non-current assets Property, Plant & Equipment Motor vehicles Furniture Total non-current assets Current assets Trade Receivables Other Current Assets Inventories Total Current Assets Total assets Current liabilities Accounts payable Other current liabilities Total Current Liabilities JohLex Limited Statement of Financial Position as at 31st December: 2020 GHC Long-term Debt Debenture Total non-current liabilities 10 Shareholders' equity Total Liabilities and Equity GHC 6,386 18,472 6,759 8,461 25,265 19,811 20,753 Required to calculate: (a) Inventory turnover period (in days) (b) Receivable collection period (in days) (c) Payable collection period (in days) (d) Working capital…X Company collected P12350 in interest during 2019 X showed P1,850 in interest on its December 31, 2021 statement of financial position and P5,300 on December 31, 2020 How much is the Interest Revenue to be reported on X's statement of comprehensive income in 2021?
- 9 - The income statement of a Business for the period 2019 is as follows: 31.12.2019 % Gross sales 45.200 TL 102.72 Discounts From Sales 1.200 TL 2.72 Net Sales 44,000 TL 100.00 Cost of sales 12.500 TL 28.41 Gross Profit on Sales 31,500 TL 71.59 This table was prepared according to which of the following analysis methods? a) Technical analysis B) Analysis with Vertical Percentage Method NS) Ratio Analysis D) Comparative Tables Analysis TO) Trend Percentages AnalysisHIC GROUP OF Companies COMPARATIVE INCOME STATEMENT For years ended 3rd December 2019 2020 Revenue and gains Sales revenue 495,500 496,738.75 Interest revenue 278,500 279,196.25 Investment Income 71,700 71,879.25 Other revenue 101,500 101,753.75 Total revenue and gains 947,200 949,968 Expenses and losses Cost of good sold 450,000 447,750 Selling&administrative 185,000 184,075 Computer (operating) 42,500 42,288…HIC GROUP OF Companies COMPARATIVE INCOME STATEMENT For years ended 3rd December 2019 2020 Revenue and gains Sales revenue 495,500 496,738.75 Interest revenue 278,500 279,196.25 Investment Income 71,700 71,879.25 Other revenue 101,500 101,753.75 Total revenue and gains 947,200 949,968 Expenses and losses Cost of good sold 450,000 447,750 Selling&administrative 185,000 184,075 Computer (operating) 42,500 42,288 Depreciation 50,000…
- The following are the financial statement JNC Ltd. for the year ended 31 March 2020: JNC Ltd. Income statement For the year ended 31 March 2020 $”M” Revenue 1276.50 Cost of sales (907.00) 369.50 Distribution costs (62.50) Administrative expenses (132.00) 175.00 Interest received 12.50 Interest paid (37.50) 150.00 Tax (70.00) Profit after tax 80.00 JNC Ltd. Statement of financial position as at 31 March 2020 2019 $”M” $”M” ASSETS: Non- current assets: Property, plant and equipment 190 152.5 Intangible assets 125 100 Investments 12.5 Current assets: Inventories 75 51 Receivables 195 157.5 Short-term investment 25 Cash in hand 1 0.5 Total assets 611 474 Equity and liabilities: Equity: Share capital (10 million ordinary shares of $ 10 per value) 100 75 Share premium 80 75 Revolution reserve 50 45.5 Retained earnings 130 90 Non-current liabilities: Loan 85 25…The following financial statements were extracted from the books of Alpha Ltd. and Omega Ltd. for the yearended 31 March 2023:Statement of profit or loss for the year ended 31 March 2023:Alpha Ltd. Omega Ltd.Sh.“million” Sh.“million”Revenue 1,699.815 2,058.96Cost of sales (1,171.045) (1,397.135)Gross profit 528.77 661.825Less: Operating expenses (354.775) (469.89)Net profit 173.995 191.935Less: Finance expenses (22.31) (31.625)Profit before tax 151.685 160.31Tax (36.8) (40.02)Profit for the year 114.885 120.29Statement of financial position as at 31 March 2023:Alpha Ltd. Omega Ltd.Non-current assets Sh.“million” Sh.“million”Land and building 414.00 586.5Furniture and fittings 100.65 104.88514.05 691.38Current assets:Inventories 680.80 463.45Trade receivables 202.86 370.185Bank 97.29 105.34980.95 938.975Total assets 1,495 1,630.355Capital and liabilities:Capital:Ordinary share capital 368.00 287.50Retained earning 422.74 718.29790.74 1,005.79Non-current liabilities:Bank loan 218.50…ect Assignment The preliminary 2024 income statement of Alexian Systems, Incorporated, is presented below: ALEXIAN SYSTEMS, INCORPORATED Income Statement. For the Year Ended December 31, 2024 ($ in millions, except earnings per share) Revenues and gains: Sales revenue Interest revenue Other income Total revenues and gains. Expenses: Cost of goods sold Selling and administrative expense Income tax expense Total expenses Net Income Earnings per share $ 435 6 128 569 247 158 41 446 $123 $ 12.30 Saved Help Additional information: 1. Selling and administrative expense includes $28 million in restructuring costs. 2. Included in other income is $120 million in income from a discontinued operation. This consists of $90 million in operating income and a $30 million gain on disposal. The remaining $8 million is from the gain on sale of investments. 3. Cost of Goods Sold in 2024 includes an increase of $10 million to correct an understatement of Cost of Goods Sold in 2023. The amount is material.…
- BHP Group Ltd.- 2019 and 2020 Partial Balance Sheet Assets Liabilities & Owner’s Equity 2019 2020 2019 2020 Current assets $4665 $7279 Current liabilities $2076 $4256 Net Fixed assets $7033 $11378 Long-term debt $3712 $1980 Total Equity (Total assets – total liabilities) (Total assets – total liabilities) BHP Group Ltd.- 2020 Income Statement Sales $10073 Cost of goods sold $5815 Depreciation $2227 Interest paid $1284 Taxes $1202 Calculate the Profit margin ratio of BHP Group Ltd. for the financial year 2020The following are the statement of comprehensive income and financial position of Jones Limited as at December 31st, 2019: Jones Limited Statement of Comprehensive Income for the Year Ended 31st December 2019 GH₵ GH₵ Net profit 45,200 Jones Limited Statement of Financial Position as at 31st December 2019 31/1/2019 31/1/2018 GH₵ GH₵ Non-current assets 209,600 150,000 Accumulated depreciation (38,000) (24,000) 171,600 126,000 Current assets Inventory 19,600 21,000 Receivables 20,400 17,200 Bank 11,400 10,000 Cash 8,400 3,600 59,800 51,800 Total assets 231,400 177,800 Equity capital Stated capital 103,600 42,400 Income surplus 56,600 160,200 45,200 87,600 Noncurrent…The comparative statements of Sunland Company are presented here: Sunland CompanyIncome StatementsFor the Years Ended December 31 2020 2019 Net sales $1,898,440 $1,758,400 Cost of goods sold 1,066,440 1,013,900 Gross profit 832,000 744,500 Selling and administrative expenses 507,900 486,900 Income from operations 324,100 257,600 Other expenses and losses Interest expense 23,900 21,900 Income before income taxes 300,200 235,700 Income tax expense 93,900 74,900 Net income $206,300 $160,800 Sunland CompanyBalance SheetsDecember 31 Assets 2020 2019 Current assets Cash $60,100 $64,200 Debt investments (short-term) 74,000 50,000 Accounts receivable 125,700 110,700 Inventory 127,900 117,400 Total current assets 387,700 342,300 Plant assets…