4) Sales $14,900, Purchases $4,000, Debtor $2,000, Creditors $6,000, Salary $1,000, Commission $500, Building $5,000, Bank Overdraft $1,000, Cash at Bank $700, Return Inward $200, Discount Received $100, Bad Debts $300, Tax & Rates $100, Depreciation $200, Furniture $3,000, Cash in Hand $2,000 What will be opening Stock of above mention financial items.

4) Sales $14,900, Purchases $4,000, Debtor $2,000, Creditors $6,000, Salary $1,000, Commission $500, Building $5,000, Bank Overdraft $1,000, Cash at Bank $700, Return Inward $200, Discount Received $100, Bad Debts $300, Tax & Rates $100, Depreciation $200, Furniture $3,000, Cash in Hand $2,000 What will be opening Stock of above mention financial items.

Name: 4) Sales $14,900, Purchases $4,000,Debtor $2,000, Creditors $6,000,Sa
Uploaded: 2024-03-04T10:43:15.000Z
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Description: 4) Sales $14,900, Purchases $4,000,Debtor $2,000, Creditors $6,000,Salary $1,000, Commission $500,Building $5,000, Bank Overdraft$1,000, Cash at Bank $700, ReturnInward $200, Discount Received $100,Bad Debts $300, Tax & Rates $100,Depreciation$200,

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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items: sheet. Interpret your findings. $66,000 Depreciation expense 225,000 Cash 334,000 Long-term debt 573,000 Sales 102,000 Accounts payable 79,000 General and administrative expense 895,000 Buildings and equipment 75,000 Notes payable Accounts receivable 153,000 Interest expense 4,750 Accrued expenses 7,900 Common stock 289,000 Cost of goods sold 297,000 Inventory 99,300 Taxes 50,500 Accumulated depreciation 263,000 Prepaid expenses Taxes payable 14,500 53,000 Retained earnings 262,900
The Tom Smith Corporation has the following items: Cash, $5,000; Machinery, $50,000; Building, $150,000; Note payable bank, $10,000; Savings, $10,000; Long-term debt, $50,000; Accounts payable, $30,000; Taxes payable, $5,000; Accounts receivable, $30,000; Inventory, $10,000; Depreciation Building, $35,000; Depreciation Machinery, $25,000; Land $50,000. Fixed assets for this Corporation are $45,000. $55,000. $95,000. $155,000. $190,000.
The Tom Smith Corporation has the following items: Cash, $5,000; Machinery, $50,000; Building, $150,000; Note payable bank, $10,000; Savings, $10,000; Long-term debt, $50,000; Accounts payable, $30,000; Taxes payable, $5,000; Accounts receivable, $30,000; Inventory, $10,000; Depreciation Building, $35,000; Depreciation Machinery, $25,000; Land $50,000. Current assets for this Corporation are $45,000. $55,000. $95,000. $155,000. $190,000.
Flyer Company has provided the following information • Cash sales, $325,000 • Credit sales, $850.000 Selling and administrative expenses, $220,000 • Sales retums and allowances, S75,000 Gross profit, $830,000 • Increase in accounts receivable $75,000 • Bad debt expense, $28,000 Sales discounts, 552,000 • Net income, $920,000 How much is Newark's cost of sales?
Hassan Corporation reports the following information: Net income OMR 500,000 Depreciation expense 140,000 Decrease in accounts receivable 60,000 Hasaan should report cash provided by operating activities of Select one: O a. OMR 300,000. O b. OMR 580,000. c. OMR 420,000. d. OMR 700,000.
57) Overcharge Card reports that following amounts: Sales = $3,000,000; Cost of GoodsSold = $1,200,000; Depreciation Expense = $140,000; Administrative Expense =$270,000; Interest Expense = $70,000; Marketing Expense = $60,000; and Taxes=$80,000. What is Overcharge’s operating income?
Newark Company has provided the following information:Cash sales, $600,000Credit sales, $1,500,000Selling and administrative expenses, $480,000Sales returns and allowances, $105,000Gross profit, $1,510,000Increase in accounts receivable, $70,000Bad debt expense, $48,000Sales discounts, $58,000Net income, $1,030,000How much are Newark's net sales?how would i find net sales without revenue? I think it what I am trying to find
Harding Corporation reports the following information: Net income $530,000 Depreciation expense 140,000 Increase in accounts receivable 60,000 Harding should report cash provided by operating activities of $330,000. $450,000. $610,000. $730,000.
Given the balance sheet and cash-flow statements... Liquid assets: $10,000; home value: $210,000; monthly mortgage payment: $1,300 on $170,000 mortgage; investment assets: $90,000; personal property: $20,000; total assets: $330,000; short term debt: $5,500 ($250 a month); total debt: $175,500; monthy gross income: $9,000; monthly disposable income: $6,800; monthly expenses: $6,000. Calculate the following ratio: c. Debt-to-income ratio
Given the balance sheet and cash-flow statements... Liquid assets: $10,000; home value: $210,000; monthly mortgage payment: $1,300 on $170,000 mortgage; investment assets: $90,000; personal property: $20,000; total assets: $330,000; short term debt: $5,500 ($250 a month); total debt: $175,500; monthy gross income: $9,000; monthly disposable income: $6,800; monthly expenses: $6,000. Calculate the following ratios: a. Liquidity ratio b. Asset-to-debt ratio c. Debt-to-income ratio d. Debt payments-to-disposable incoome ratio e. Investment assets-to-total assets ratio
Given the balance sheet and cash-flow statements... Liquid assets: $10,000; home value: $210,000; monthly mortgage payment: $1,300 on $170,000 mortgage; investment assets: $90,000; personal property: $20,000; total assets: $330,000; short term debt: $5,500 ($250 a month); total debt: $175,500; monthy gross income: $9,000; monthly disposable income: $6,800; monthly expenses: $6,000. Calculate the following ratios: c. Debt-to-income ratio d. Debt payments-to-disposable incoome ratio e. Investment assets-to-total assets ratio
In a period, sales are $140,000, purchases $75,000 and other expenses $25,000. What is the figure for net profit to be transferred to the capital account? A $40,000 B $65,000 C $75,000 D $140,000