______ P120,000 Expense 35,000 35,000 _____________ Profit/(Loss) P _________ 45,000
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(
Case 1 |
Case 2 |
Case 3 |
|
Revenue |
P 100,000 |
___________ |
P120,000 |
Expense |
35,000 |
35,000 |
_____________ |
|
P _________ |
45,000 |
25,000 |
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Solved in 2 steps
- How much is the loss on factoring from the transaction? * Zero 10,000 15,000 20,000Determine missing amounts to complete the following table: Case Actual MOH Applied MOH Over/Underapplied Amount 106,000 $ 117,000 Underapplied 279,300 Overapplied B 91,000 2,200 26,000 153,000 141,000 %24Takaful company has the following information: Earned contributions SR 500 Net claim incurred SR 100 Cash SR 50 Short-term investment SR 150 Average assets SR 1500 Total expenses SR 200 Net income SR 100 Gross contributions SR 600 Net contributions SR 550 What is expense ratio? а. 40% b. 30% С. 36.3% d. 50%
- a. Date formats b. Profit & Loss Standard report c. % of Income d. QuickZoom e. Without Cents f. Divided by 1000 g. Previous Period $ Change h. Previous Period % Change i. To date ________ The end of the reporting period. ________ When selected in the Modify Report window, this check box requires QuickBooks Accountant to report amounts in thousands. ________ Adds a subcolumn to a Profit & Loss report that calculates the relative percentage change in each item from a previous period. ________ The beginning of the reporting period. ________ A financial statement reporting the revenues and expenses of a business for a specific accounting period. ________ Adds a subcolumn to a Profit & Loss report that calculates the amount of change in each item from a previous period. ________ A preference option that specifies whether years in date fields are shown as two digits or four digits. ________ A feature in QuickBooks Accountant that allows you to view the transaction details…NC.OMB Summ ARY 0 5000 75,000 From the information above- determine income or loss amount. To answer if income, amount and capital C. Example 100000C To answer if loss, amount and capital L. Example- 100000LYou have the following: Short term capital losses - $9,000 Long term capital losses - $8,000 Short term capital gains - $6,000 Long term capital gains - $7,000 What amount is reported on page 1 of the Form 1040? O a. $3,000 loss O b. $4,000 gain c. $4,000 loss O d. $1,000 loss O e. $1,000 gain O f. $3,000 gain Clear my choice
- Problem 1-29 A Brief Overview of Capital Gains and Losses (LO 1.8) Compute the realized and recognized gain or loss for each of the following transactions and classify as short-term or long-term: 1. Marge, a single taxpayer, receives $8,000 for the sale of stock she purchased six years ago for $3,000. 2. Lisa, a single taxpayer, receives $3,000 for the sale of stock she purchased six months ago for $8,000. 3. Bart and Maggie, married filing jointly taxpayers, receive $3,000 for the sale of stock they purchased three years ago for $10,000. 4. Homer, a single taxpayer, receives $12,000 on the sale of his personal-use motorcycle. He purchased the motorcycle four months ago for $16,000. 5. Mo, a single taxpayer, receives $16,000 on the sale of his personal-use motorcycle. He purchased the motorcycle four years ago for $12,000. For those boxes in which you must enter subtractive or negative numbers use a minus sign. (Example: -300)Liquid Company has the following information available at year end 2018: Cash Notes payable (current) P40,000 Common stock P140,000 P500,000 Gross income Plant and Equipment, net Total assets P60,000 P252,000 P480,000 Additional data: Current ratio 1.9:1.0 Debt-to-equity Inventory turnover based on (Sales divide by ending inventory) Inventory turnover based on (Cost of sales divide by ending inventory) 1.4:1.0 15 times 10 times*see attached What is the net rent income for the current year? *a. 275,000b. 290,000c. 350,000d. 365,000
- lome * CengageNoWv2 | Online teach x akeAssignment/takeAssignmentMain.do?invoker=8&takeAssignmentSessionLocator=&inprogress%-false * 引 Update Dorman Company reported the following data: Net income $225,000 Depreciation expense 25,000 Gain on disposal of equipment 20,500 Decrease in accounts receivable 14,000 Decrease in account payable 3,600 Prepare the Cash Flows from Operating Activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Dorman Company Statement of Cash Flows Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Net cash flow from operating activities PreviousDetermine the missing amount Assets Liabilities Equity Revenues Expenses 150,000 75,000 ? 15,000 10,000 115,000 25,000 65,000 ? 76,000Net Income Interest (Loss) $ 185, 000 179, 600 157, 250 188, 100 Expense $ 59,200 80, 820 Income Taxes a. $ 46, 250 b. 64, 656 66,045 90, 288 C. 44, 030 11, 286 d. Compute times interest earned. Which company indicates the strongest ability to pay interest expense as it comes due? Complete this question by entering your answers In the tabs below. Times Interest Interest Earned Ratio Coverage Compute times interest earned. Times Interest Earned Ratio Company Choose Numerator: Choose Denominator: Ratio %3D %3D times times times !! times !! Interest Coverage >