What is the value for prime cost.?
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Inventory (01/10/18)
Raw materials 28800
Work in progress 37000
Finished goods 33600
Sales (114000 @c5) 57000
Carriage on raw materials 1470
General expenses 25200
Selling expenses 51840
Plant and machinery 250280
Land 50000
Bank overdraft 32120
Ordinary share capital 200000
8%
Trade receivables 36433
Discount allowed 1440
Sundry payable 56636
Trade investment 8840
Advertising 2250
Return inwards 9000
Discount received 1920
Carriage outwards 2280
Production wages 126000
Office salaries 4860
Purchases of raw materials 168000
Noodles 15000
Factory rent 13600
Office insurance 40800
Depreciation on plant and machinery 4920
Inventory
Raw materials 35400
Work in progress 39120
Loose tools 3000
Additional information
During the year, 129000 pieces were completed. The closing inventory of finished goods is valued at the cost price per nose mask produced.
Goods manufactured during the year are to be transferred to the trading account at GHc 390000.
Provide for doubtful debts at the rate of 2% of receivables.
Advertisement was three months prepaid.
What is the value for prime cost.?
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- Balance sheet 2020 2021 Plots 80.000 98.000 Mechanical equipment 100.000 140.000 Accumulated depreciation machine. Equipment (25.000) (26.000) Commodities finished stock 25.000 33.000 Customers 45.000 17.000 Promissory notes receivable 30.000 20.000 Suppliers' advances 3.000 6.500 Cash resources 51.000 35.000 Total assets 309.000 323.500 Share capital 145.000 145.000 Results in re-employment 11.000 104.000 Long-term liabilities (same loan) 51.000 67.000 Suppliers 30.000 3.500 Cheques payable 70.000 1.000 Interest payable 2.000 3.000 Total own funds and liabilities 309.000 323.500 Profit and loss statement Sales 215.000 Cost of sales (67.000) Other operating expenses (16.000) Depreciation (14.000) Loss from the sale of mechanical equipment (3.000) Earnings before interest…Commodity markets -purchase 30.000,00 Wage of the staff 10.000,00 Depreciation of fixed assets 6.000,00 Premiums 1.000,00 Advertising and promotion 800,00 Overhead cost 4.000,00 Revenue from sales 250.000,00 Income from investments and investments 15.000,00 Gains from disposal of property, plant and equipment 500,00 Loss from disposal of financial data 100,00 Rental income 50.000,00 Third party fees 2.500,00 Credit interest 1.400,00 Debt interest 4.500,00 Fixed maintenance costs 2.000,00 Considering that: a) the stocks 1.1.20X0 were 5000 € b) the final stock on 31.12.20X0 was determined by physical inventory at 3000 € (c) the income tax rate is 30%; compile the 20X0 income statement, vertical by type.Spent materials 5.000,00 Revenue 300.000,00 Expenses on energy, water, telephone 10.000,00 Wages Staff 80.000,00 Depreciation of fixed assets 5.000,00 Advertisment expenses 3.000,00 Profits from share disposals 2.000,00 Losses by disposal of tangible fixed assets 500,00 Interest expenses 1.000,00 Purchase commodity 120.000,00 Interest credit 15.000,00 Third party fees 30.000,00 Sales commission revenue 6.000,00 Dividend income 9.000,00 losses from the evalutaion on listed shares 1.500,00 a. 1.1.20X1 inventories were 10,000b. the closing inventorie at 31.12.20X1 was 20,000c. the income tax rate is 30%Prepare the 20X1 Profit and Loss Statement in vertical format, by type
- Determine the missing amount: cash$239,186;short term investment$353,700;acct receiv$504,944;inventory? Prepaid exp$83,259;total current asset$1,594927; property&equipment? what is the inventory amount and property& equipment amount?Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $119.70 on December 31, 20Y8 Instructions Asset turnoverUse ihe Iollowing limancial statement imiomalion for lefm 13! Comparative Balance Sheet 12/31/20X3 12/31/20X2 Cash 408,000 $ 192,000 Accounts receivable 360,000 216.000 Inventory Property, plant, and equipment Accumulated depreciation 384,000 480,000 608,000 960,000 (320,000) (304,000) $1,544,000 Total Assets $1.440,000 Accounts payable Income taxes payable Bonds payable $ 176,000 2$ 96,000 352,000 392,000 360.000 600,00 Common stock 216,000 216,000 Retained earnings 336,000 240,000 $1,544,000 Total Liabilities and Equity $1.440,000 Income Statement for the Year ended Dec 31, 20X3 Sales revenue $8,400,000 Cost of sales Gross profit Depreciation expense Other operating expenses Income from operations Interest expense 7,152,000 1,248,000 $ 80,000 712.000 792,000 456,000 72,000 Income before taxes 384,000 Income taxes 96,000 Net income $ 288,000 Cash dividends for the year 20X3 were $192,000. > During the year, equipment was sold for $240,000. This equipment cost $352,000 originally and…
- ACCOUNT TITLES DEBIT CREDIT 160,000 304,000 358,500 817,300 Patent Prepaid rent expense Raw materials inventory Cash and cash equivalents Notes payable (due April 1, 2022) Investment in equity securities- FVPL Machinery and equipment Accumulated depreciation- machinery and equipment 435,100 525,910 6,200,500 1,860,150 227,350 56,280 Accounts receivables Goods in process inventory Bonds payable- at fair value 350,100 Bonds payable 1,200,000 748,950 8,450,000 Investment in debt securities- FVOCI Land Sales 5,800,210 Accrued interest income 51,500 Allowance for doubtful accounts 45,470 96,000 3,714,024 Premium on bonds payable Retained earnings (beginning) Raw material purchases Building Accumulated depreciation- building 1,730,540 5,145,000 1,029,000 Direct labor 813,900 Notes receivable (from trade customers) Loss on change in fair value attributable to credit risk of a financial liability designated as FVPL Unrealized loss on investment in equity securities- FVPL Finished goods…Kelly Balance Sheet as at 31December 2007 Non -Current Assets Office Machinery 9000 9000 Total m narent assets Cureat Assets Stock of Goods 1550 Debtors Cash at Bank 275 5075 6900 Less Current Creditors Loan from C. Smith Liabilities. 900 2000 2900 Net arert Assets 4000 13,00O Finaced By: Capital 13,000Orbit Limited : Statement of Financial Position as at 31 December 2022 2021 Non-current Assets R11 810 000 R7 560 000 Property, Plant, Equipment R10 025 000 R6 250 000 Investments R1 785 000 R1 310 000 Current Assets R4 190 000 R4 690 000 Inventories R 1 875 000 R2 350 000 Account Receivable R1 925 000 R2 200 000 Cash R390 000 R140 000 Toatal Assets R16 000 000 R12 250 000 Equities & Liabilities Equity ? ? Oridanary share capital R5 480 000 R3 680 000 Retained earnings ? ? Non-current Liabilities R4 500 000 R3 800 000 Loan (20% p.a) R4 500 000 R3 800 000 Current Liabilities R2 300 000 R1 500 000 Accounts payable? R2 300 000 R1 500 000 Calculate the increase in the retained earnings over the two-year period.
- Commodity markets -purchase 30000 Wage of the staff 10000 Depreciation of fixed assets 6000 Premiums 1000 Advertising and promotion 800 Overhead cost 4000 Revenue from sales 250000 Income from investments and investments 15000 Gains from disposal of property, plant and equipment 500 Loss from disposal of financial data 100 Rental income 50000 Third party fees expenses 2500 Credit interest 1400 Debt interest 4500 Fixed maintenance costs 2000 Considering that: a) the stocks 1.1.20X0 were 5000 € b) the final stock on 31.12.20X0 was determined by physical inventory at 3000 € (c) the income tax rate is 30%; compile the 20X0 income statement, vertical by typeShafNita Sdn. Bhd. Statement of Financial Position as at 31 December2019 2020RM RM RM RM Non Current AssetsBuilding 100,000 100,000Fixtures less accumulated depreciation 3,600 4,000Van less accumulated depreciation 7,840 14,800111,440 118,800 Current AssetInventory 11,200 24,800Trade account receivable 12,800 16,400Bank 1,800 -Cash 440 400 26,240 41,600Total assets 137,680 160,400Finance by:Capital account:Balance at 1 January 74,080 105,080Add: Net profit for the year 70,400 42,320Cash introduced - 20,000144,480 167,400Less: Drawings (39,400) (43,200)105,080 124,200 Non Current LiabilitiesLoan (repayable in 10 years time) 20,000 30,000Current LiablitiesAccount Payable 12,600 6,012Bank overdraft - 188Retained earnings 32,600 36,200Total liabilities and equity 137,680 160,400 Additional information at 31 December 2020: Fixtures bought in 2020 cost RM800. Van bought in 2020 cost RM11,000. Required: Prepare statement of cash flow for ShafNita Sdn. Bhd. for the year ended 31 December…Pharoah Industries has the following select account balances Cash $10500 Accounts Receivable $5770 inventory $23500 Equipment $37900, Goodwill $49000 Accumulated Depreciation Equipment $7580 Supplies $2470 and Patents $18000. What would be the total to be reported as non current assets on its balance sheet? O $97320 O $107370 O$104900 O $79320