What is surf laundry monthly average service income

Assignment Help Financial Accounting
Reference no: EM133010292

Surf Laundry opens for business from Monday thru Saturday or 24 days a month. There are two laundry assistants and one supervisor operating the business daily. Surf laundry receives an average of 5,000 kilos of laundry items everyday. The laundry price per kilo is P20.00
The cost of laundry is 12% of total revenue. Total operating expenses is 50% of total revenue.

Problem 1: What is Surf Laundry monthly average service income?

Problem 2: What is its gross profit per month?

Problem 3: What is its net income per month?

Reference no: EM133010292

Questions Cloud

Describe each of the major income statement categories : Describe the two major parts, or sections, of the Income Statement. In addition to this, describe each of the major income statement categories
What is the effect of the price increase on gross profit : If the average laundry remains at 5,000 kilos every day, but it increased its price by 15%; what is the effect of the price increase on gross profit
What is the monthly service revenue : If the average laundry increased the volume by 10%, what is its monthly service revenue? Monthly gross profit? And monthly net income?
What the profit margin based on manufacturing cost : LCI currently sells the B-13 model for $5,150 and the F-32 model for $5,420. What the profit margin based on manufacturing cost
What is surf laundry monthly average service income : Surf Laundry opens for business from Monday thru Saturday or 24 days a month. What is Surf Laundry monthly average service income?
What is cash balance at the end of day for surf laundry : Surf Laundry has a beginning cash balance of P75,000. During the day, the following transaction transpired. What is its cash balance at the end of the day?
What are the total assets at the end of the year : Surf Laundry Shop borrowed P20,000 from DBP and the owner deposited P10,000 for additional capital. What are its total assets at the end of the year?
What is the level of cardigan total assets : Cardigan's total liabilities increase by $20,000 and its owners' equity decreases by $12,000. On 30 June 2009, what is the level of Cardigan's total assets
What is the effect of the transaction on the assets : Mr. Extra paid P1,000 pesos for the services rendered by Surf Laundry shop. What is the effect of this transaction on the assets, liabilities

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd