QUESTION 23Which of the following are not allowable against corporation tax?O DividendsO R&D costsO InterestO Marketing costsO Cost of salesQUESTION 24Which of the following is true?O Business angels prefer debt to equity investmentsBusiness angels are often related to the entrepreneurs they invest inO Organisations can act as business angels tooO Business angels invest most of their wealth in other people's businessesO Business angels are usually experienced businessmenQUESTION 25Which of the following is not an example of financial bootstrapping?Credit cardsO Taking out a business loan from a bankO BarteringO Sweat equityO Selling property and renting instead QUESTION 21If a business has sales of €200,000 and cost of sales of €50,000, what is its gross margin? Select one:75%€150,000€250,00020%25%QUESTION 22Which of these is current liability?StocksCashDebtorsCreditorsO VAT repayable

FIRST IT IS NECESSARY TO UNDERSTAND THAT GROSS PROFIT IS SALES MINUS COST OF GOODS SOLD/COST OF…

Answered: QUESTION 21 If a business has sales of…

QUESTION 21 If a business has sales of €200,000 and cost of sales of €50,000, what is its gross margin? Select one: O 75% €150,000 €250,000 20% 25%

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Use the following information for the next three questions. Below you will find information about…

A: FVNI (Fair Value through Net Income) is an accounting method to record the changes (increase or…

Q: Silent Sentry manufactures gas leak detectors that are sold to homeowners throughout the United…

A: Incremental Benefit Analysis is done to ascertain which of the option is the best for the business…

Q: No matter what cost drivers are chosen, the applied overhead rates are usually changed yearly…

A: Overhead rate is the predetermined rate which is used to assign the estimated overhead costs to the…

Q: a. Consider a bank that has $1M in equity, and $10M in assets. Draw the bank's balance sheet and…

A: Leverage Ratio - It compares the assets to debt and calculated with dividing of total debt by the…

Q: The stockholders' equity section of Jun Company's balance sheet as of April 1 follows. On April 2,…

A: When a company's debts have been paid off, the money or assets that are left over are called…

Q: Given the conditions cited above, what transfer price would be used according to the transfer price…

A: Lets understand the basics. Transfer price is a price through which transfer of units between inter…

Q: 4. Katie analyzes the dollar-based consolidated financial statements of a company that owns a…

A: Katie should be aware that the results: d) are verifiable using the foreign currency rate in effect…

Q: 2019 Accrued salaries should have been $20,000 2020: Accrued salaries should have been $40,000 Both…

A: Lets understand the basics. Adjustment entry is required to make to record correct amount of revenue…

Q: Pouch Corporation is working on its direct labor budget for the next two months. Each unit of output…

A: The direct labor Budget is prepared to estimate the total direct labor costs for the current period…

Q: -Tel Inc. manufactures and assembles two models of smartphones-the Tiger Model and the Lion Model.…

A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for…

Q: A small scale mining investment is expected to generate $60,000 per year in profits over the next 15…

A: Actual dollars also called the Nominal dollar value is the actual amount without any consideration…

Q: A company has operating income of $300,000, revenues of $1,500,000, total assets of $2,000,000…

A: ROI is return on investment. It is the profitability ratio. It measure the amount of return that an…

Q: ompany has the following purchases and sales during February. Using the FIFO periodic inventory…

A: There are many methods of the inventory valuations and based on that cost of goods sold calculations…

Q: calculate the percentages? And how did you calculate the cumulative costs

A: In Order to calculate the cost associated all the cost that are associated or added up any order to…

Q: WildhorseCompany is considering two capital investment proposals. Estimates regarding each project…

A: The annual rate of growth that an investment is anticipated to provide is known as the internal rate…

Q: A and B formed a Partnership on January 1, 2020. Partner A’s contributed capital amounted to…

A: A partnership is a proper association through extra events to manipulate and perform an enterprise…

Q: Pete and his wife live in a home with their 13-year-old dependent son. This year, they had the…

A: The question has asked to compute the Adjusted gross income of Pete, and, his wife. Adjusted gross…

Q: Branded Shoe Company manufactures only one type of shoe and has two divisions, the Stitching…

A: TRANSFER PRICING Transfer Pricing is the Notional Value of Goods & Services transferred From…

Q: Journalize the transactions using the following accounts:

A: 1. Purchase Discount terms for Spend more : 5/10, 3/20, n/30 refers to Spend more has given credit…

Q: Experimental outcomes that are based on measurement scales such as time, weight, and distance can be…

A: The correct answer is: (C) Continuous Continuous random variables are variables that can take on…

Q: Which of the following types of employee benefits are not covered by AASB 119/IAS 19?

A: The correct answer is: (D) Share- based payments. Because AASB 119/AS 19 are related to employee…

Q: 7 What will a contingency note contain? Review Later A circumstance where a company may…

A: Introduction:- A contingent liability is a liability or a potential loss that may occur in the…

Q: Phoenix Corporation acquired the business Sun Systems for $315,000 cash and assumed all liabilities…

A: Goodwill is the difference between the identifiable net assets acquired and the amount paid in…

Q: Company A buys $800,000 worth (40%) of the voting stock of Company B in 2019. Company B reports an…

A: Lets understand the basics. When one entity holds between 20% to 50% of shares of another entity but…

Q: Every day, businesses have to make decisions that affect their bottom line. One such decision…

A: INVENTORY MANAGEMENT The simplest definition of inventory management is obtaining, keeping, and…

Q: The charter of a corporation provides for the issuance of 126,000 shares of common stock. Assume…

A: No. of shares issued means shares issued by the company including the shares purchased by the…

Q: Max and Annie are roommates sharing an apartment. Although they know each other well, they have…

A: The resident confirmed that the IRS dishonorably discovered his touching down information besides…

Q: Flotation Costs Lucas Corp. has a debt-equity ratio of .65. The company is considering a new plant…

A: Debt to equity ratio :— It is calculated by dividing total debt by total equity. Weight of equity…

Q: What is the fair value of the lottery payments according to the Financial Accounting Standards Board…

A: According to the financial accounting standards board (FASB), The fair and present value of the…

Q: income statements and balance sneets Net sales Cost of goods sold Gross profit ual Gaming Systems…

A: Lets understand the basics. Debt to equity ratio indicates how much total liabilities are there in…

Q: Cash reserves on the Tri-State Medical Equipment Corporation's balance sheet presently amount to…

A: Depreciation is an expense which is written in the income statement and which shows the decrease in…

Q: The Maryville Construction Company occupies 90,200 square feet for construction of mobile homes.…

A: Overhead means the cost incurred indirect in factory for the production of goods. Overhead cost will…

Q: Pete and his wife live in a home with their 13-year-old dependent son. This year, they had the…

A: “Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only…

Q: Epic Incorporated has 10,500 shares of $2 par value common stock outstanding. Epic declares a 10%…

A: The stock dividend is the dividend for which company issues shares instead of cash. The stock…

Q: The City Engineering Department of a city submitted a proposal for improving the downtown area. They…

A: Given data: Actual costs = Php 401,600,000 Total Benefits = Php 51,550,000

Q: What types of accounts compromise Income? and make up Net

A: Sales are subtracted from the cost of products sold, selling, overall and administrative…

Q: Taxpayer is 16 years old at the end of the tax year and is a qualifying (dependent) of her parents.…

A: The child who are under age have earned income but some are taxed and some portion is exempted and…

Q: The 2021 balance sheet for hallbrook Industries, Inc., is shown below.…

A: Current Ratio :— It is calculated by dividing current assets by current liabilities. Acid test…

Q: Symphony Electronics produces wireless speakers for outdoor use on patios, decks, etc. Their most…

A: Production budget is the statement which is prepared to estimate the production units of the entity…

Q: applier Corp. enters into a government contract during the year to provide computer equipment for…

A: Answer to Question (a): Recognized Revenue $ 7,00,000 Gross Profit $ 1,35,000 Adjusted…

Q: Use the following sales journal to record the transactions. All credit sales are terms of n/30. (If…

A: A sales journal is used to keep track of credit-sold merchandise. Any transaction involving the sale…

Q: Explian what is zero- badgeting in management accounting

A: The concept of zero budgeting is associated with starts from 0 because these budgeting technique…

Q: Question 15 A corporation may not be prosecuted and convicted of: a criminal offense if its agent…

A: A Corporation may not be prosecuted and convicted of: - criminal offense if its agent committed the…

Q: rate). The following table has been partially filled for you. Please complete depreciation amou…

A: Depreciation is the amount which is to be reduced from value of assets to recognise the normal…

Q: Willie Waylon is a famous country and western singer. As an investment, Willie started a chain of…

A: Willie Waylon is a well-known country & western performer, which goes without saying. Willie…

Q: .The purpose of posting journal entries to the ledger A. So that trial balance can be prepared. B.…

A: Lets understand the basics. There are various stages through which statement of financial statement…

Q: Match each item with its appropriate section on the statement of cash flows: 1.) Issued common stock…

A: A cash flow statement indicates cash inflow and outflow information for a particular time period and…

Q: a. How much is the Goodwill/Gain on Bargain Purchase? b. How much is the Consolidated Assets?

A: Calculation of the Goodwill/Gain on Bargain Purchase. Alpha Company purchased 75% of the shares of…

Q: Average Inventory, Inventory Turnover Ratio, Inventory Turnover in Days Belt Company had net sales…

A: Average inventory = (Beginning inventory + Ending inventory)/2 Inventory turnover ratio = Cost of…

Q: Which of the following factors does the IRS consider irrelevant when determining reasonable…

A: An S corp or S organization is an enterprise shape this is permitted below the tax code to byskip…

Question

100%

QUESTION 21
If a business has sales of €200,000 and cost of sales of €50,000, what is its gross margin? Select one:
75%
€150,000
€250,000
20%
25%
QUESTION 22
Which of these is current liability?
Stocks
Cash
Debtors
Creditors
O VAT repayable

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

ANSWER TO QUESTION NUMBER 21

VIEW

STEP 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Net sales Cost of goods sold Gross profit Expenses: Operating expenses Depreciation expense Loss on sale of land. Interest expense VIRTUAL GAMING SYSTEMS Income Statements For the Years Ended December 31 Income tax expense Total expenses Net income. Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable 2025 $3,495,000 2,477,000 1,018,000 952,000 27,000 Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity 16,500 7,700 1,003, 200 14,800 2024 $3,021,000 1,947,000 1,074,000 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 855,000 25,500 7,700 13,500 46,500 948,200 125,800 2025 $199,500 73,500 123,500 13,700 102,000 297,000 297,000 (91,500) $1,014,700 $213,600 8,100 11,700 370,000 297,000…
Question 26 Consider the following data: D1-$1.55: Po-$49.50. g-3.70% (constant), and F-2.00%. What is the cost of equity raised by selling new common vock? O a. 9.90% Ob.6.90% O c. 10.90% O d. 8.90% O e. 8.83%
Net profit: 85000€ Retained earnings (profit) 31.12.2020: 24.000€Regular Reserve 31.12.2020: 30.000€ Share Capital 31.12.2020: 125.000€ the approved interim dividend for the year 2021 is €20,000, which is due on 31.12.2021 Prepare the Statement of Changes in Equity.
15- The share capital of a firm is OMR 160000 and the net profit is OMR 32000. What is the return on equity? a. 15 percent b. 30 Percent c. 20 Percent d. All
Question 10 3-month SA treasury bill rate 2% beta coefficient 0,491289463 market risk premium 8 % What is the cost of retained earnings? Answer 2
16 - What is the cash value of the 120.000 TL receivables with a maturity of 20.04.2020, held by the enterprise as of the end of the period (31.12.2019), over 14% discount rate ? (Ignore fractions!) a) 113,432 TL B) 112,434 TL NS) 116,735 TL D) 117,117 TL TO) 115,568 TL
I $ I E S ($/E) F ($/E) 5% 6% 1.5 1.4985 I $ - annual interest on 1 year US deposit; I E – annual interest on 1 year Euro deposit; S ($/E) – number of dollars per euro, spot F ¼ ($/E) – number of dollars per euro, 1 year forward On the basis of the price criteria: In which deposit would you invest? In which currency would you borrow? How would you arbitrage to make profit? What is the profit from interest arbitrage per 1000 dollars borrowed?
Reported Horiron Period S millions 2018 2019 2020 2021 2022 Terminal Period $14.768 $15454 $16591517,589 $18.644 2711 2880 9.462 10.028 10630 11268 11544 Sales S15017 NOPAT 3,053 3236 JA10 NCA 12.183 Answer the following requirements assuming a discount rate (WACC) of 735, a terminal period growth rate of 2% common shares outstanding of 328.1 miion, and net nonoperating obligations (NN0) of 16,204 million (al Estimate the value of a share of ITWS common stock using the discounted cash flow (DCF model as of December 31, 2018 Instructions: • Round all answers to the nearest whole number, except for discount factors, shares outstanding (do not roundi and stock price per share. Round discount factors to 5decimal.places • Round stock price per share to two decimalplaces Do not use negative signs with any of your answers Forecast Horizon 2021 Reported 2020 2022 Terminal Period (S milions) 2018 2019 increase in NOA FCFF INOPAT increase in NOA) Discount factor 1/ Present value of horuon FCFF…
Q11 A company earns OMR 20 per share at an internal rate of 8%. The firm has a policy of paying 75% of earnings as dividends. If the required rate of return is 10%, what is the price of the share under Walter model? a. OMR 200 b. OMR 100 c. OMR 190 d. OMR 150
2020 2019 Industry Average Debt to total assets .3% .2% 50% Times interest earned 2days 3days 2.5 times Fixed charge coverage 3times 3times 2.1 times Using the values computed above, evaluate the debt to total assets, times interest earned, and the fixed charge coverage ratios as a trend analysis (year-over-year) and when compared to the industry averages. What do these numbers tell us about the company’s debt utilization for each ratio?
Consider the following balance sheet Expected Balance Sheet for XYZ Bank Assets Yield Liabilities Cost Rate sensitive $ 1300 8% %$4 1700 8% Fixed rate $500 9% $1500 5% Non earning $ 5100 $. 1800 Equity 1900 Total $ 6900 $6900 What is the Net Interest Margin (NIM)
QUESTION 17 A company has a Return on Equity of 0.39, a Profit Margin of 0.2 and Total Asset Tumover of 0.55. Using this information calculate the Equity Multiplier?