Reference no: EM133087985
Questions -
Q1. The Cash Receipts Journal of the Denver Nuggets Company shows the following accounts and account balances:
Sales P125,000
Accounts receivable P65,000
Sundry accounts (credit) P1,802,650
Sales discount ?
If sales discount is 4% of sales balance, how much is the cash balance per cash receipts journal?
Q2. The following data is available from the records of Spurs Merchandising Company:
Cost of goods available for sale P3,100,000
Gross Profit P900,000
Net Sales P3,000,000
Net Purchases P2,600,000
Operating expense P1,040,000
What is the company's ending inventory?
Q3. Kors Flower Shop reported total revenues of P184, 000 for 2021 as well as:
Total Liabilities as of December 31, 2021---P240,000 // 2021 Net loss---P38,000 //
2021 Total cash payments---P104,000
The company's total expenses must have been __________?
Q4. On January 1, 2021, the beginning balance of Armani Company (VAT registered) inventory amounted to P600,000. On January 15, 2021, Armani Company purchased P952,000 (VAT inclusive) worth of inventory with terms 2/15 n/60. On January 25, Armani Company returned 10% of defective inventories and paid the rest on January 29, 2021. At the end of the accounting period, inventory on hand amounted to P450,000. How much is the VAT on discount?
Q5. The liabilities of Benetton Company equals 2/5 of the total assets, and the owner's equity is P960,000. What is the amount of the liabilities?
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What is the margin on the new steak
: Assume a restaurant sells steak sandwhiches for a price of $15 and a total cost of $10. What is the margin on the new steak
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How much is the scrap revenue to be recorded
: A firm price is not determinable for the scrap until it is sold. It is sold eventually for P7,500. How much is the scrap revenue to be recorded
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How these transactions are being reported by the corporation
: What concerns, if any, do you have regarding how these transactions are being reported by the corporation, Morey, and the children
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How much is the total payment to be made
: On January 1, 2020, a company borrowed 4,000,000.00 from a bank at the rate of 16% a year. How much is the total payment to be made
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What is the amount of the liabilities
: The liabilities of Benetton Company equals 2/5 of the total assets, and the owner's equity is P960,000. What is the amount of the liabilities
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Does have an energy buy back program
: Are there any tax incentives for new development within and does have an energy buy back program
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What total amount of income
: Graphite had $80,000 in ordinary business income and $6,000 in tax-exempt income. What total amount of income from Graphite is included in Smith adjusted income
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What is the expected return and volatility
: Suppose you group all the stocks in the world into two mutually exclusive portfolios. What is the expected return and volatility of the market portfolio
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Determine how to invest its capital investments
: Evaluates and determines how to invest its capital investments and Discuss the important roles that a corporate finance manager plays in a corporation
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