Question

.24.000 TL 1.800 3.000 2.000 4.000 .6.000 ..1.000 1.000 .10.000 .10.000 .2.200 .1.200 28.000 .20.000 Answer questions 22-30 using the following information: Accounts Payable .8.000 Foreign Sales Accounts Receivable. .13.000 General Administrative Expenses. Accumulated Amortization.. ....200 Inventory Accumulated Depreciation. 10.000 Legal Reserves Additional Paid-in Capital .18.000 Marketing, Sales & Delivery Exp. Allowance for Doubtful Accounts .2.000 Notes Payable... Associates. 20.000 Prepaid Expenses(ST). Bank Loans (LT). 30.000 Provision for Loss on Inventories. Bank Loans(ST). .8.000 Sales Discounts Building .100.000 Sales Returns Capital .124.000 Software.. Cash h...... 40.000 Statutory Reserves Cost of Goods Sold. 16.000 Subsidiaries. Domestic Sales 36.000 Uneamed Revenue. Financing Expenses. .200 22. The Turkish Lira value of the net realizable value of the accounts receivable is a. 13.000 TL c. 15.000 TL . 2.000 TL d. 11.000 TL 23. The Turkish Lira value of gross profitis a. 40.000 TL c. 16.000 TL b. 20.000 TL d. 24.000 TL 24. The total Turkish Lira value of financial fixed assets is a. 20.000 TL $3.000 TL b. 28.000 TL d. 48.000 TL 25. The Turkish Lira value of operating profit is a. 18.200 TL c. 6.800 TL b. 19.200 TL d. 5.800 TL 26. The total Turkish Lira value of current liabilities is a. 8.000 TL c. 42.000 TL b. 20.000 TL d. 30.000 TL 27. The total Turkish value of operating expenses is a. 4.000 TL c.5.800 TL b. 1.800 TL d. 6.800 TL 28. The total Turkish Lira value of reserves is a. 1.200 TL c. 2.000 TL b. 3.200 TL d. 800 TL 29. The Turkish Lira value of the book value of intangible assets is a. 2.000 TL c. 200 TL b. 2.200 TL d. 2.400 TL 30. The Turkish Lira value of the net value of inventory is a. 3.000 TL c. 1.000 TL b. 2.000 TL d. 4.000 TL

Answer 1

	Income statement	TL	TL
	Sales		40000
	Foreign	24000
	Domestic	36000
	Less: Sales Discounts	-10000
	Less: Sales Returns	-10000
	Cost of goods sold		16000
	Gross profit		24000
	General Administrative Expenses	1800
	Marketing, Sales & Delivery Exp	4000
	Total operating expenses		5800
	Operating profit		18200
	Financing Expenses		200
	Net profit		18000
22	The turkish lira value of the net realizable value of the accounts receivable is
	Accounts receivable	13000
	Less: Allowance for doubtful debts	-2000
		11000
	Answer	d
23	The turkish lira value of gross profit is
	See income statement above
	Answer	d
24	The total turkish lira value of financial fixed assets
	Investments
	Subsidiaries	28000
	Associates	20000
		48000
	Answer	d
25	The turkish lira value of operating profit is
	See income statement above
	Answer	a
26	The total Turkish lira value of current liabilities
	Accounts payable	8000
	Unearned revenue	20000
	Notes payable	6000
	Bank loan (ST)	8000
		42000
	Answer	c
27	The total Turkish Lira value of operating expenses is
	General Administrative Expenses	1800
	Marketing, Sales & Delivery Exp	4000
		5800
	Answer	c
28	The total turkish lira value of reserves is
	Legal reserves	2000
	Statutory reserves	1200
		3200
	Answer	b
29	The turkish lira value of the book value of intangible assets is
	Software	2200
	Accumulated Amortization	-200
		2000
	Answer	a
30	The turkish lira value of the net value of inventory is
	Inventory	3000
	Provision for loss on Inventories	-1000
		2000
	Answer	b