Direction: compute the projected revenue by day, month and year based on your business concept.(Please refer to the picture.) ОBJECTIVES:1. Calculate mark-up and selling price of a product or merchandise;2. Compute projected reveneusI.TOPIC: FORECASTING THE REVENUE OF THE BUSINESSDirection:Compute the projected revenue by day, month and year based on yourbusiness concept.II.PROBLEM :AlingMinda is operating a buy and sell business, she sells broomsticks (walistingting) inher stall at a local market. She gets her broomsticks from a local supplier for 25 pesoseach. She then adds 50 percent mark-up on each broomstick. Every day, alingMinda cansell 30 broomsticks a day.Use the template below and fill in the necessary figures based on the scenario.Projeczed Daly RevenueName of Bus nessProjecteoProjectedCostVolumeMark-upSellingRevenueper(D)PrceE)MerchandseUnitAverage No.ProciuctsA)of ItemsDailySoc (Daily)(B)= (A x(A)(C)= A+8;E) =C x C;.50)Total

Budgeting is an important part of the business process. Without budgeting a business cannot track…

AlingMinda is operating a buy and sell business, She her stall at a local market. She gets her broomsticks from a local supplier for 25 pesos each. She then adds 50 percent mark-up on each broomstick. Every day, alingMinda can sell 30 broomsticks a day. Use the template below and fill in the necessary figures based on the scenario. Projected Daly Revenue Name of Busness Projecteo Projected Cost Volume Mark-up Selling Revenue per (D) Prce E) Merchandse Unit Average No. Prociucts (A) of Items Daily Soc (Daily) (B)= (A x (A) (C)= A+8; E) =iC x D; 50) Total

AlingMinda is operating a buy and sell business, She her stall at a local market. She gets her broomsticks from a local supplier for 25 pesos each. She then adds 50 percent mark-up on each broomstick. Every day, alingMinda can sell 30 broomsticks a day. Use the template below and fill in the necessary figures based on the scenario. Projected Daly Revenue Name of Busness Projecteo Projected Cost Volume Mark-up Selling Revenue per (D) Prce E) Merchandse Unit Average No. Prociucts (A) of Items Daily Soc (Daily) (B)= (A x (A) (C)= A+8; E) =iC x D; 50) Total

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter9: Responsibility Accounting And Decentralization

Section: Chapter Questions

Problem 1PB: Use the following information to answer the questions that follow. A. Calculate the operating income...

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Required 1. Assume that Urban One sells a $300 gift certificate to a customer, collecting the $300 cash in advance. Prepare the journal entry for (a) collection of the cash for delivery of the gift certificate to the customer and (b) revenue from the subsequent delivery of merchandise when the gift certificate is used. 2. How can keeping less inventory help to improve Urban One's profit margin? 3. Cathy Hughes understands that many companies carry considerable inventory, and she is thinking of carrying additional inventory of merchandise for sale. Cathy desires your advice on the pros and cons of carrying such inventory. Provide at least one reason for, and one reason against, carrying additional inventory.
II. TRUE OR FALSE Directions: Read each sentence carefully and determine whether the statement is TRUE or FALSE Write your answers on the space provided before each number. 1. liventory is the most importaní asset of a merchandising firm. 2. The sales journal can be used to record sales with immediate cash payments. 3. Under the sale term /10, net 30, the discount is valid until the 10th dav from the date of purchase. 4. Inventories are assets acquired which are held for sale in the ordinary course of the business. 5. Postings to the ledger shall be made on a chronological! order. 6. Information in subsidiary ledgers may come from special journals or the general journal. 7. Paying freight on merchandise sold increases the business' total assets. 8. The purchase of merchandise will increase cost of goods sold under the periodic inventory system, regardless of whether the purchase vas made on cash basis or on account.
1-Abbas and Rahim want to start a Furniture shop at Saham. How can you help them by explaining different forms of business and its benefits and limitations? 2-Assume that you are going to start a Business after graduation. Describe 10 transactions that the business might undertake by using your own idea with the following assumptions: • Started business with cash • Goods purchase for cash • Goods purchased on credit • Any asset purchased and paid cash • Any asset purchase on credit • Sold goods for cash • Sold goods on credit • Paid any bill • Paid salary to staff • Cash withdraw from business for personal use Based on your own 10 transactions, prepare: 1. Accounting Equation 2. Journal 3. Ledger 4. Trail Balance 5. Financial statement
This is about accounting in merchandising business accounting. Thanks! 1. On March 1, how much is the amount to be debited to Purchases? 2. How much is the “freight-in” to be recorded in Purrchezza’s books? 3. How much is the “delivery expense” to be recorded in Sellenaur’s books? 4. How much cash should be paid to Sellenaur on March 12? 5. If Purrchezza paid on March 26 instead, how much cash did they pay Sellenaur?
This is about accounting in merchandising business accounting. Thanks! 1. On March 3, how much is the amount to be credited to Sales? 2. On March 5, how much should be debited to Sales Returns and Allowances? 3. How much is the “delivery expense” to be recorded in Tagaventah’s books? 4. How much cash was received by Tagaventah on April 15? 5. How much is the “freight-in” to be recorded in Tagavilly’s books?
nOD Well you have understood the lessons by working on some of the enrichment activity/ies below. Good luck! Deepen Activity 1: Transaction Analysis You own and operate a business that seills goods to other businesses. You allow established customers to buy goods from you on account, meaning you let them charge purchases and offer terms of 2/10, n/30. Record the following transactions in the sales journal and cash receipts journal: July 1 Sales on credit to DJ Vera Co. amounting to Php7,200.00, Invoice #123 July 9 Sales on credit to J. Tonesa Inc., amounting to Php5,200, Invoice # 124 2/10; n/30 July 16 Receive Php7,200 from DJ Vera Co. (did not receive during the discount period) July 17 Sales on credit to A. Caoile amounting to Php3,780, Invoice 125 July 18 Received the whole amount from J. Tonesa within the discount period Great job! You have understood the lesson well! ready to take the final assessment? Are
Mattie's Mums and More is a budding flower business. Review their Income Statement to answer the questions. 1. What is Mattie's Gross Profit? 2. What is the company's Operating Income? 3. What is the Net Income for Mattie's Mums and More?
Use the following information to answer the questions that follow. A. Calculate the operating income percentage for each of the stores. Comment on how your analysis has changed for each store. B. Perform a vertical analysis for each store. Based on your analysis, what accounts would you want to investigate further? How might management utilize this information? C. Which method of analysis (using a dollar value or percentage) is most relevant and/or useful? Explain.
Journalize the transactions in a merchandising business using CRJ (cash receipts journal) , CDJ (cash disbursement journal) , and GJ (general journal) . After journalizing, make a summary of the transactions as recorded in general and special journals. Write your answer on a columnar sheet. Date TransactionNovember1 Iska, the owner, invested ₱300,000 cash and ₱50,000 worth of merchandise into the business. The merchandise has an unpaid ₱10,000 account from Von to be assumed by the business.2 Purchased from Gab store supplies worth ₱3,000 on cash basis [CV#001]3 Returned ₱300 worth of store supplies purchased from Gab [OR#002]4 Purchased from Vicky store supplies worth ₱4,000 on account.5. Returned ₱400 worth of store supplies purchased from Vicky.6. Purchased from Ian store equipment worth ₱30,000 on cash basis [CV#002)7 Was granted a ₱2,500 allowance on store equipment purchased from Ian[OR# 003). done8 Purchased from John store equipment worth ₱40,000 on terms ₱10,000 down, balance…
Cracker & Company sold merchandise to a customer on credit. The sale price was $8,000. What would be the effect of this transaction on the accounting equation? Select the correct option form screenshot.
charges a fee based on the amount of research done to support a cost-effective purchase decision and the actual shopping time required. Dillena with the help of her Julieta Dillena established a proprietorship, The Professional Shoppers, The business "professional shoppers" will shop for almost anything from rorporate giveaways, Transportation Expense; Rent Expense and Utilities Expense. Accounts Receivable; Office Equipment; Notes Payable; Accounts Payable; Dillena, for setting up the T-accounts. The following accounts will be needed: Cash; Capital; Dillena, Withdrawals; Shopping Revenues; Commissions Expense; NAME: SECTION SCORE: PROFESSOR: Problem #19 Recording Transactions in T-Accounts computers to office and home furnishings. Business is particularly heavy around Christmas and in early summer. The business operates from a rented office condominium unit The shoppers receive a commission he revenues they produce and a transportation allowance for the use of their personal vehicles…
Ali has been in business for some years as a petit trader. He simply calculates his profit by adding his sales (cash sales only) and deducting his purchase costs from it. As a grade 10 Accounting student, you are required to analyze the importance of FINANCIAL STATEMENTS (Income Statement and Statement of Financial Position) to Ali. Guidelines:- Start off with an Introduction of what you want to analyze. Your analysis should include but not limited to:- Books of original entry Ledger accounts Trial Balance Accounting concepts ( which ones are needed when and where) Etc Your conclusion should be an advice to Ali.