FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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|
2021 |
2020 |
Usage sales |
5700 |
5300 |
Other miscellaneous revenue for the financial year |
300 |
200 |
Total revenue for the year |
6000 |
5500 |
Cost of use sold |
2680 |
2600 |
Customer and inventory impairment loss |
250 |
220 |
GROSS REMUNERATION AND EMPLOYER'S CONTRIBUTIONS |
800 |
750 |
Impairment provisions for the financial year |
50 |
30 |
Financial costs for the financial year |
300 |
280 |
Total operating expenses |
900 |
800 |
Net profit for the financial year |
4980 |
4680 |
|
1020 |
820 |
Fixed assets and investments |
2000 |
1700 |
Goods |
400 |
250 |
Customers minus accumulated impairment |
696 |
1100 |
Customer promissory notes and bills of exchange |
300 |
700 |
Cash and trading portfolio |
200 |
350 |
Total assets |
3596 |
4100 |
How long is the defensive period of the operation in 2021 (360days)
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- Dec 31, 2019 SERVICE REVENUE Sales revenue, net Cost of goods sold $ 281,000 120,000 161,000 Gross profit OPERATING EXPENSES Selling expenses Wages expense - seling Fuel expense- selling Depreciation expense - selling Total selling expenses General and administrative expenses 15,000 20,000 45,000 80,000 Rent expense - administrative Office supplies expense - administrative 12,000 15,000 Total general and administrative expenses Total operating expenses Total incorme froDm operations 27,000 107,000 54,000 OTHER EXPENSES Interest expense 2,000 52,000 13,000 %24 Total income before tax Income tax expense Net incorne 39,000 Eamings Per Share (EPS) 0.65 What is Carson's Bakery gross profit margin? O 13.87% O 38.87% 33.54% O 57.29%arrow_forwardYear ended December 31, 2023 2022 2021 Revenues $4,578,041 $3,864,324 $3,003,610 Costs and expenses: Cost of goods sold $2,227,189 $2,089,089 $2,005,691 Selling and administrative 922,261 836,212 664,061 Interest 29,744 32,966 30,472 Other expenses (income) 1,475 2,141 (43) Total costs and expenses $3,180,669 $2,960,408 $2,700,181 Income before income taxes $1,397,372 $903,916 $303,429 Income taxes 229,500 192,600 174,700 Net income $1,167,872 $711,316 $128,729 Venus IndustriesConsolidated Balance Sheets (in thousands) December 31, ASSETS 2023 2022 Current assets: Cash and equivalents $291,284 $260,050 Accounts receivable, less allowance for doubtful accounts of $19,447 and $20,046 826,977 616,064 Inventories 592,986 512,917 Deferred income taxes 26,378 28,355 Prepaid expenses 40,663 32,977 Total current assets $1,778,288 $1,450,363 Property, plant, and equipment $571,032 $497,795 Less accumulated depreciation (193,037)…arrow_forwardIncome statement 2021 £,000 Sales 7000 Cost of sales -3000 Gross profit 4000 Administration and distribution expenses -1000 Interest payable -500 Dividend received 600 Profit before tax 3100 Taxation -1000 Profit after tax 2100 Balance Sheet 2021 2020 £'000 £'000 £'000 £'000 Assets: Non-Current Assets Property, plant and equipment 13000 10000 Investment 3000 3000 16000 13000 Current Assets Inventories 5500 5000 Trade receivables 2500 4500 Cash at bank 1000 9000 0 9500 Total Assets 25000 22500 Equity and Liabilities: Share capital 6000 5000 Share premium account 3000 2000 Retained earnings 3900 3000 12900 10000…arrow_forward
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