15. How much sales for the month of December 2005 were erroneously recorded in January 2006? c. P7,500 P12,500 b. P18,500 d. P20,000 а.
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Please answer no.15 correctly and provide computation. Thank you;)
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- 9. 測 3. ABC Co. had the following purchases on account: September August 65% of the month's purchases are paid in the month of purchase. The remainder is paid in the month following purchase, How much will the cash payments for purchases be in August? July 000'008$ 43°F SU prt sc 144 114 fg *- V. 0. 5. 6.Please provide also the solutions. Thank you! This Year: Accounts receivable = P135,000 Inventory = P136,000 Sales on account = P698,000 Cost of goods sold = P429,000 Last year: Accounts Receivable = P119,000 Inventory = P155,000 The average collection period for this year is closest toa.65 daysb.56 daysc.80 daysd.90 daysLC4Q5. Mustafa had OMR 18000 in sales for the month. His commission rate is 8% over OMR 12000. What was Mustafa's end-of-month gross pay? Lo Share Favourite Delete Edit More
- 26.The following data pertain to a particular item sold by Pomegranate Company.8/1 – Beg. invy: 2,000 @ P50=100,0008/8 – Purchases: 9,000 @ P52=468,0008/10 – Sales: 1,500 @ P105=157,5008/14 – Purchases: 3,000 @ P55=165,0008/20 – Sales: 8,000 @ P110=880,0008/29 – Purchases: 1,500 @t P59=88,500Using the weighted average method, how much is the gross profit during the month of August? a. 503,500 b. 534,000 c. 553,000 d. 318,00013.7A Robles & Co is a VAT-registered business. During the quarter just ended, it bought goods and services to the value of £46,020 excluding VAT, and its sales were £61,548 including VAT. All of Robles & Co's sales are subject to VAT at 20 per cent. However, only two-thirds of the goods and services it buys are subject to VAT at 20 per cent. The other third are either zero-rated or exempt. After preparing its VAT return for the quarter just ended, how much must Robles & Co pay to HMRC?7. Sales for the year amount to P3,000,000, Accounts receivable is P360,000. What is the average collection period assuming annual data is used? quarterly data is used? 8. Beginning inventory is P40,000, ending inventory is P28,000. Cost of goods sold is double the ending inventory and accounts payable is P44,000,. What is the accounts payable turnover? 9. The quick ratio is 1.75 while the current ratio is 2.5. the current liabilities amount to P525,000. Cost of goods sold is P955,000. What is the inventory turnover? of inventory? what is the average age 10. Ending inventory is P33,000 while accounts payable is P5,000. Purchases were half the ending inventory. What is the accounts payable turnover? inventory? What is the average age of
- 8. What is the amount of gross sales for the current year? GREEN Enterprises reported the following information for the current year: Inventory, January 1 2,300,000; Purchases - 7,105,000: Purchase returns and allowances - 520,000; Sales returns and allowances - 692,000; Inventory, December 31 - 2,470,000. Gross profit rate on net sales is 20%.6. Analyze the variation in gross profit based on the following gross profit statements of Patty Corp. 196 19A Sales: 6 000 units at P5 P 30 000 8 000 units at P4 P 32 000 Cost of sales: 6 000 units at P2.50 P 15 000 8 000 units at P1.80 14 400 Gross Profit P 15 000 P 17 600ILLUSTRATION 4. Following information is given. 2014 2015 $ $ 75,000 50,000 1,50,000 75,000 Sales Cost of goods sold Gross profit on sales 25,000 75,000 During the year 2015, increase in quantity (or volume) was 20%. You are required to : (i) calculate per cent change in selling price and cost of production.
- 1. Compute the missing term. Dollar Markup Cost $427.38 a. $216.41 dollar markup b. $361.41 dollar markup c. $261.41 dollar markup d. $1,116.17 dollar markup Selling Price $688.79If the sales revenue 830 000 ID , - 10 sales returns 12 000 ID , sales allowance and discount 28 O00 ID * -: ,the net sales is 709 000 ID . O 790 000 ID . 970 000 ID. OLC4Q4. Mustafa had OMR 15000 in sales for the month. His commission rate is 7% over OMR 10000. What was Mustafa's end-of-month gross pay? OMR 700 OMR 1750 OMR 1050 OMR 350