Q Ltd sells widgets at £2,000 each. Cost price is £1,500 & sales expenses are £300 each.There were no unsold widgets last year, but 25 this year, and further purchases of 40 tookplace during the year. Calculate net profits.£7,500£4,500£3,000£1,500R ltd sold goods to S ltd on credit for £60,000 during the year. R owns 70% of S. At year-end, what adjustment is made to receivables and payables in the group accounts?£60,000 decrease£60,000 increase£42,000 decrease£42,000 increaseS ltd had prepaid wages of £15,000 at the start of this year. Annual salaries were £45,000this year, and salaries owing at the end of this year were £12,000. Calculate the amount Spaid for salaries during the year.£22,000£18,000£12,000£10,000G ltd acquired shares in its subsidiary F Ltd last year when F's net assets were £120,000.This year group profits were £60,000 & controlling interests were £39,000. Calculate thenon-controlling interests in F Ltd at acquisition.B£63,000£58,000£52,000£42,000

1. Net profit for Q Ltd 1. Calculate the Gross Profit per Widget:Selling price per widget =…

Answered: Q Ltd sells widgets at £2,000 each.…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Sword Co. has just ended the calendar year making a sale in the amount of P250,000 of merchandise purchased during the year at a total cost of P150,000. Although the firm paid in full for the merchandise during the year, it only collected 10,000 at year end from the customer. The net profit and cash flow from this sale for the year are? A. P50,000 and -P140,000 respectively B. P50,000 and -P150,000 respectively C. P50,000 and P250,000 respectively D. P250, 000 and -P20,000 respectively
A company buys 2mm items for $3 each and sells 1mm of those items during a year for $6 each. Marketing expenses are $200k for the year. The company has $3mm of debt with a 5% interest rate. Its depreciation expense for the year is $100k. The company’s income tax rate is 30%. Create an income statement for the company. Also, what is EBITDA?
Electro Wizard Compamy produces a popular video game called Destructo which sells for $32. Last year Electro Wizard sold 50,000 Destructo games, each of which costs $6 to produce. Electro Wizard incurred selling and administrative expenses of $80,000 and depreciation expense of $10,000. In addition, Electro Wizard has a $100,000 loan outstanding at 12%. Their tax rate is 40%. There are 100,000 common shares outstanding. Prepare an income statement for Electro Wizard in good form (EPS).
Long has a 70% interest in Short. Their statements of income for the year ended 31 March 20x8 are reported as follows: Long Short £ £ Revenue 361,300 162,500 Cost of sales 240, 000 95, 600 During the year Long has sold goods to Short invoiced at £45,000 which was cost plus 20%. By the year end, Short had sold one quarter of those goods. What is the group gross profit to be reported in the consolidated statement of comprehensive income? Question 5 Answer a . £182,575 b. £185, 075 c. £182, 075 d. £180,075
XYZ Company has the following information for the year: Sales revenue: $500,000 Cost of goods sold: $200,000 Operating expenses: $100,000 Other income: $10,000 Tax rate: 25% Calculate the company's operating income and net income for the year.
evenue for the year amounted to R4 500 000 and represents net sales to third parties of goods purchased for resale. Rainbow Limited maintained a 40% gross profit percentage throughout the year. How much would be the cost of sales for Rainbow Limited? Select one: a. R7 500 000 b. R11 250 000 c. R2 700 000 d. R1 800 000
Sara Togas sells all its output to Federal Stores. The following table shows selected financial data, in millions, for the two firms: Sales Interest Payment Net Income Assets at Start of Year Federal Stores $117 $21 $27 $67 Sara Togas 37 18 21 28.5 Assume tax rate is 35%. a. Calculate the sales-to-assets ratio, the operating profit margin, and the return on assets for the two firms. (Do not round intermediate calculations. Round the sales-to-assets ratio answers to 2 decimal places. Enter the operating profit margin and return on assets answers as a percent rounded to 2 decimal places.) b. Now assume that the two companies merge. If the Federal continues to sell goods worth $117 million, how will the three ratios change? (Do not round intermediate calculations. Round the sales-to-assets ratio answer to 2 decimal places. Enter the operating profit margin and return on assets answers as a percent rounded to 2 decimal places.)
Libscomb Technologies' annual sales are $6,997,444 and all sales are made on credit, it purchases $3,879,449 of materials each year (and this is its cost of goods sold). Libscomb also has $530,851 of inventory, $490,754 of accounts receivable, and $417,441 of accounts payable. Assume a 365 day year. What is Libscomb’s Receivables Turnover?
2. Waitrose has sales of £820,000 and costs of £600,000. Interest expense is £36,000 and depreciation is £54,000. The tax rate is 21 percent. What is the net income? £102,670 £102,700 £115,000 £189,250- a. b. с. d. 3. At the beginning of the year, a firm had total assets of £52,700, fixed assets of £33,200, and current liabilities of £13,280. At the end of the year, the current assets are £15,000, the fixed assets are £34,100, and the current liabilities are £14,210. What is the change in net working capital for the year? -£18,260 а. b. -£5,4304 С. £9,110- d. £12,4504
Kwok Enterprises has the following income statement. How much after-tax operating income does the firm have? Sales $2,250 Costs 1,400 Depreciation 250 ЕBIT $ 600 Interest expense 70 EBT $ 530 Taxes (40%) _212 Net income $ 318
During the year, a merchandising company had the following transactions: Generated 300.000 TL revenue and incurred 225.000 TL expense. Issued new shares of 20.000 at a price of 1,2 TL (par value is 1 TL). Repurchased 10.000 of these new shares at a price of 1,1 TL. Sold these repurchased shares at a price of 0,5 TL. Revalued its headquarters building as well as its one of the rental properties. The increases in the relevant equity and income items have been found to be 15.000 TL and 20.000 TL. Suppose that the ending retained earnings balance in the Statement of Changes in Shareholders Equity is 105.000 TL. Then, what was the opening balance of the retained earnings at the beginning of the year? a) 10.000 TL b) 16.000 TL c) 20.000 TL d) 26.000 TL
Billy's Exterminators, Inc., has sales of $817,000, costs of $343,000, depreciation expense of $51,000, interest expense of $38,000, and a tax rate of 21 percent. What is the net income for this firm? Sales Costs Depreciation expense Interest expense Tax rate $ Sales Costs Depreciation expense EBIT Interest expense EBT Taxes (21%) Net income 817,000 343,000 51,000 38,000 21% Complete the following analysis. Do not hard code values in your calculations. Income Statement $ 817,000 343,000 51,000

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