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A supplier of raw materials to a manufacturing company is likely to be most interested in which financial ratio? Sel...
Financial Reporting Question QUESTION 2 You are a consultant for Glory Lad, a quoted company operating...
Financial Reporting Question
QUESTION 2 You are a consultant for Glory Lad, a quoted company operating in the manufacturing sector. Following are a Statement of Profit or Lows and Statement of Financial Pain with comparatives for the year ended 31" December 2018 Statement of Profit or Less for the year ended 31 December 2018 Sales revenue Cost of sales Gross profit Interest receivable Administration expenses Operating profie Interest Profit before taxation GHS 3,095.576 1.909.08 2.402.609 1.441.950 457.100 2.712 222872 360...
You have recently been appointed as assistant to the financial controller of Frank plc, a manufacturing...
You have recently been appointed as assistant to the financial
controller of Frank plc, a manufacturing company. He has asked you
to help with the finalisation of the financial statements for the
year ended 31 December 2018 and year ended 31 December 2019.
(a) The Key Financial Information for Frank plc for the last two years are as follows: Year 2018 Year 2019 Cash £30,000 £20,000 Accounts Receivables 200,000 260,000 Inventory 400,000 480,000 Property, Plant and Equipment 800,000 800,000 Total...
You are a consultant for Glory Ltd, a quoted company operating in the manufacturing sector. Following...
You are a consultant for Glory Ltd, a quoted company operating in the manufacturing sector. Following are a Statement of Profit or Loss and Statement of Financial Position with comparatives for the year ended 31st December 2018. Statement of Profit or Loss for the year ended 31st December, 2018 Sales revenue Cost of sales Gross profit Interest receivable Administration expenses Operating profit Interest Profit before taxation Income tax expense Profit for the year 2018 GHS 3,095,576 2,402,609 692,967 744 333,466...
White Manufacturing transferred $5,600,000 of raw materials into production during the most recent year. Direct labor...
White Manufacturing transferred $5,600,000 of raw materials into production during the most recent year. Direct labor and factory overhead for the period totaled $2,900,000. Beginning work in process was $1,100,000 and ending work in process was $1,400,000. Finished goods inventory decreased by $86,000. If gross profit was $2,560,000, how much was sales for the period?
Which of the following statements is correct concerning the days' sales in raw materials inventory ratio?...
Which of the following statements is correct concerning the days' sales in raw materials inventory ratio? Multiple Choice The ratio is not useful for a manufacturer Is calculated by taking the Raw materials used/Average raw materials inventory Reveals how many times a company turns over its raw materials inventory in a period, It measures how long it takes raw materials to be used in production Most companies generally prefer a higher number of days' soles in raw materials inventory
Tailoka's summarized financial statements for the year ended 31 March 2019 are sol out below K...
Tailoka's summarized financial statements for the year ended 31 March 2019 are sol out below K million 4,000 (3,450) 550 (370) 40 180 Statement of Profit Or Loss Revenue (25% cash sales) Cost of sales Gross profit Operating experises Profit on disposal of plant Finance charges Profit before tax Income tax expense Profit for the period Dividend paid Retained profit for the year (20) 200 (50) 150 50 100 K'million K million 550 Statement of Financial Position Non-current assets Property,...
Financial Indicators/Ratios 2018 2017 Current ratio ? 2.92 : 1 Acid test ratio ? 1.28 :...
Financial Indicators/Ratios 2018 2017 Current ratio ? 2.92 : 1 Acid test ratio ? 1.28 : 1 Debtors collection period ? 16 days Creditors payment period ? 27 days Inventory turnover rate ? 24 times/year Gross profit percentage ? 35% Net profit percentage ? 10,29% Return on equity ? 210,53% Debt equity ratio ? 0.74 Catwalksale (Pty) Ltd Extract from the statement of profit or loss and other comprehensive income for the year ending 31 December 2018: 2018 2017 Revenue...
Which of the following would likely be reported in the financial statements of a manufacturing company...
Which of the following would likely be reported in the financial statements of a manufacturing company as a component of inventory? a. Finished Goods b. Direct Labor. c. Manufacturing Overhead. d. Cost of Goods Sold.
The Belgian Vandeputte Group has the following operating structure: sales = 100, raw materials used in...
The Belgian Vandeputte Group has the following operating structure: sales = 100, raw materials used in the business = 30, direct production costs = 40, administrative costs = 20. Operating cycle: raw materials inventories = 15 days, length of production cycle = one month, inventories of finished products = 15 days. Payment terms: suppliers two months, customers one month, other costs paid in cash. Assuming zero VAT, calculate working capital in days of sales. The production cycle lasts one month,...
(101AL. 13 ) QUESTION 5 The following financial statements relate to Star Millenium Sdn. Bhd, which...
(101AL. 13 ) QUESTION 5 The following financial statements relate to Star Millenium Sdn. Bhd, which operates a car detailing retail business: Statement of Profit or Loss and Other Comprehensive Income For the year ended December 31 2016 and 2017 Sales revenue Cost of goods sold Gross profit Operating expenses 2016 RM'000 2,240 (1,745) 495 (252) 243 (18) 225 (61) 164 2017 RM'000 2,681 (2,272) 409 (362) (32) Finance costs Profit before tax Tax expense Profit for the year Statement...
Financial Reporting Question
QUESTION 2 You are a consultant for Glory Lad, a quoted company operating in the manufacturing sector. Following are a Statement of Profit or Lows and Statement of Financial Pain with comparatives for the year ended 31" December 2018 Statement of Profit or Less for the year ended 31 December 2018 Sales revenue Cost of sales Gross profit Interest receivable Administration expenses Operating profie Interest Profit before taxation GHS 3,095.576 1.909.08 2.402.609 1.441.950 457.100 2.712 222872 360...
You have recently been appointed as assistant to the financial
controller of Frank plc, a manufacturing company. He has asked you
to help with the finalisation of the financial statements for the
year ended 31 December 2018 and year ended 31 December 2019.
(a) The Key Financial Information for Frank plc for the last two years are as follows: Year 2018 Year 2019 Cash £30,000 £20,000 Accounts Receivables 200,000 260,000 Inventory 400,000 480,000 Property, Plant and Equipment 800,000 800,000 Total...
Which of the following statements is correct concerning the days' sales in raw materials inventory ratio? Multiple Choice The ratio is not useful for a manufacturer Is calculated by taking the Raw materials used/Average raw materials inventory Reveals how many times a company turns over its raw materials inventory in a period, It measures how long it takes raw materials to be used in production Most companies generally prefer a higher number of days' soles in raw materials inventory
Tailoka's summarized financial statements for the year ended 31 March 2019 are sol out below K million 4,000 (3,450) 550 (370) 40 180 Statement of Profit Or Loss Revenue (25% cash sales) Cost of sales Gross profit Operating experises Profit on disposal of plant Finance charges Profit before tax Income tax expense Profit for the period Dividend paid Retained profit for the year (20) 200 (50) 150 50 100 K'million K million 550 Statement of Financial Position Non-current assets Property,...
(101AL. 13 ) QUESTION 5 The following financial statements relate to Star Millenium Sdn. Bhd, which operates a car detailing retail business: Statement of Profit or Loss and Other Comprehensive Income For the year ended December 31 2016 and 2017 Sales revenue Cost of goods sold Gross profit Operating expenses 2016 RM'000 2,240 (1,745) 495 (252) 243 (18) 225 (61) 164 2017 RM'000 2,681 (2,272) 409 (362) (32) Finance costs Profit before tax Tax expense Profit for the year Statement...
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