Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
The following trading account is extracted from the statement of profit or loss for the year ending 31 December 2015 and is given to you by the owner of the business, S. Vane:
£
Sales
324,600
Less Cost of goods sold:
Opening Inventory
39,000
Add Purchases
294,000
333,000
Less Closing Inventory
(58,000)
(275,000)
Gross profit
49,600
Vane says that he normally adds 25% to the cost of goods to fix the sales price. However, this year there were some arithmetical errors in these calculations.
(a) Calculate what his sales would have been if he had not made any errors.
(b) Given that his expenses remain constant at 8% of his sales, calculate his net profit for the year 2015.
(c) Work out the rate of inventory turnover for 2015.
(d) He thinks that next year he can increase his mark-up to 30%, selling goods which will cost him £280,000. If he does not make any more errors in calculating selling prices, you are to calculate the expected gross and net profits for 2016.
Determine the dividends per share and total dividends paid to the common and preferred stockholders each year. (Round to the nearest cent.)
What is the answer to question number 1 : Advise Kramer to whether he should file a copyright registration application for his stories, the rationale in support of our recommendation, and what potential benefit Kramer may gain from such action
Prepare all the eliminations and adjustments that would be made on the 20X2 consolidated worksheet. Prepare the 20X2 consolidated income statement and its related income distribution schedules.
Why would the courts want to limit the ability of third parties to sue auditors who have been negligent? Are there any arguments that this liability should not be limited?
The directors are wondering why we complicate a very simple way of calculating long service leave – why not “stick with” recognising the expense when we pay for it? What do you think we should do?
Roberto Corporation was organized on January 1, 2016. The firm was authorized to issue 89,000 shares of $5 par common stock. During 2016, Roberto had the following transactions relating to shareholders' equity: What is total shareholders' equity at t..
Scarecrow, Inc., issues 50,000 shares of $2 par value common stock.
Analyze and discuss the financial performance of Starbucks using financial ratios. Include your calculations and amounts in a table in the appendix of your paper. Be sure to show your calculation for each ratio.
You are to research for an event (NOT BP-Gulf of Mexico or Exxon Valdez as they are likely to be discussed with you) where a company created a situation where their legitimacy was compromised.
For each cost pool listed select an appropriate allocation base from the list below. An allocation base may be used only once. Assume a manufacturing company. Allocation bases for which the information system can provide data:
clyde and bonnie are the only two shareholders in getaway corporation. bonnie owns 60 shares with a basis of 6600 and
Under the FIFO method, unit costs would:
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd