Cost of Goods Sold and the Tax Gap; Trade and Cash Discounts; Financial Statement Ratios

Related BrainMass Solutions

• Account classification; Income Statement; NPV; and Ratios

  272944 Account classification; Income Statement; NPV; and Ratios 4-50.

• Valuation of inventories

  Trade discounts applicable to purchases during the period b. Cash (purchase) discounts taken during the period c. Purchase returns and allowances of merchandise during the period d.

• Financial Accounting : Income Statement

  Accounts Receivable $ 19,000 Cost of Goods Sold 270,000 Selling Expenses (includes depreciation) 35,000 Interest Expense 1,000 Accumulated Depreciation-Building 10,000 Sales Discounts 22,000 Merchandise Inventory 45,000 Administrative Expenses

• Ratio Analysis to solve Reed's Clothiers Cash Flow Problem

  The net effect of Reed not taking the suppliers' discounts was to unnecessarily pay full cost for the items that he had purchased, resulting in a higher (than necessary) increase in the cost of goods sold, a corresponding decrease in cash (as the past

• Discuss the value of ratio analysis in decision making for heath care organizations.

  d) It also shows the ability of the company to control cost of inventories which form part of cost of goods sold. 2.

• Income statement :Identification of various accounts

  Excel file contains income statement , calculation of ratios and identification of financial statement accounts.

• Financial Accounting Inventories

  This shows a statement of cash flows and other information, then shows how to compute ratios and a statement of cash flows using the indirect method.

• Accounting equations, current assets, journal entries and ratios

  Sold goods for $100,000 cash. The goods originally cost $65,000. c. Paid $27,000 cash for employee wages. d. Paid $12,500 cash for advertising. e. Sold goods for $25,000 cash and $60,000 on account (a total of $85,000).

• Statement of Cash Flows Using an Indirect Method

  Dividends declared and paid were $3,000 2. During the year equipment was sold for $8,500 cash. This equipment cost $18,000 orginally and had a book value of $8,500.00 at the time of sale. 3.