The profit shown in the financial accounts was £158,500 but the cost accounts showed a different figure. The following stock valuations were used: Stock valuations Cost accounts Financial accounts Opening stock £34,260 32,140 Closing stock £68,240 £70,192 What was the profit in the cost accounts? A £162,572 B £154,628 C £162,620 D £162,402

The profit shown in the financial accounts was £158,500 but the cost accounts showed a different figure. The following stock valuations were used: Stock valuations Cost accounts Financial accounts Opening stock £34,260 32,140 Closing stock £68,240 £70,192 What was the profit in the cost accounts? A £162,572 B £154,628 C £162,620 D £162,402

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Suppose you have the following information from Muscat stock market Second day closing price Stock Share Base day outstanding Closing price Salalah company Dhofar power company | 26 Oman company 18 3 2.8 2.8 3.1 10 4.1 2.1 Dhofar bank 28 3 1.8 Calculate 1. Price weighted index 2. Value weighted index
What was the dollar-weighted (money-weighted) rate of return?
please do not write hand written answer
The Carla Vista Burkett Company uses a responsibility reporting system to measure the performance of its three investment centers: Planes, Taxis, and Limos. Segment performance is measured using a system of responsibility reports and return on investment calculations. The allocation of resources within the company and the segment managers' bonuses are based in part on the results shown in these reports. Recently, the company was the victim of a computer virus that deleted portions of the company's accounting records. This was discovered when the current period's responsibility reports were being prepared. The actual operating results appeared as follows. Determine the missing amounts. (Round Return on Investment to 1 decimal place, e.g. 52.7%.) Service revenue Variable costs Contribution margin Controllable fixed costs Controllable margin Average operating assets Return on investment $ Planes 5,018,000 1,518,000 25,018,000 12% Taxis $459,000 $ 189,000 79,000 10% Limos 329,000 389,000…
Given the following data, what is the ending balance in the common stock account? 634,438 Total assets, ending Total liabilities, ending 321,286 69,495 32,445 279,868 180,251 Retained Earnings, ending Dividends declared Revenues Expenses Your Answer: Answer
5. From the following data, calculate (a) Gross profit ratio (b) Net profit ratio (OReturn on capital employed Sales Closing stock Distribution expenses RO 12,000 Capital employed Opening stock Purchases Administration exp RO 80,000 RO 13,000 RO 15,000 RO 40,000 RO 8,000 RO 95,000
The following data are taken from the books of a dealer in securities: How mu ch is the outputtax using 12% rate? Share held as inventory Share held as investment Selling price 3,000,000 2,000,000 Acquisition cost 1,000,000 1,500,000 Oth er Income 200,000
The following is the information on preferred stock issued by Huntington Power Co. Calculate the cost of preferred stock for the firm. Preferred Stock: Selling for $98. Dividends are $7 a share. a. 6.12% b. 5.45% c. 7.14% d. 9.57%
SE 9 In the average cost method of stocktaking: a the starting and closing stocks are added and the average value found b new stock is added and the average value found c individual items are added and their average value found d closing stock value is divided by the number of units in stock 10 In computerised stocktaking items carry: a a very small computer chip b a reference number c a bar code d a special label
Please do not give solution in image format thanku
Net income, less preferred dividends, divided by the average total number of outstanding shares is the: Group of answer choices A6Return on equity ratio b)Earnings per share c)Book value per share d)Profit margin e)None of the above