Get detailed and accurate answers to your questions on IDNLearn.com. Ask any question and get a thorough, accurate answer from our community of experienced professionals.
Sagot :
To solve for all the unknown amounts and percentages, we need to systematically apply the relevant accounting formulas and relationships. Below is the detailed step-by-step process for each business.
### Business A:
1. Cost of Sales (B):
[tex]\[ \text{Cost of Sales} = \text{Cost of Goods Available for Sale} - \text{Closing Stock} \][/tex]
[tex]\[ B = 198,000 - 55,000 \][/tex]
[tex]\[ B = 143,000 \][/tex]
2. Gross Profit on Cost of Sales (C):
[tex]\[ \text{Gross Profit on Cost of Sales} = \frac{\text{Gross Profit}}{\text{Cost of Sales}} \][/tex]
[tex]\[ C = \frac{71,500}{143,000} \][/tex]
[tex]\[ C \approx 0.50 \text{ or } 50\% \][/tex]
3. Purchases (A):
[tex]\[ \text{Cost of Goods Available for Sale} = \text{Opening Stock} + \text{Purchases} + \text{Carriage on Purchases} \][/tex]
[tex]\[ 198,000 = 60,000 + A + 8,000 \][/tex]
[tex]\[ A = 198,000 - 68,000 \][/tex]
[tex]\[ A = 130,000 \][/tex]
### Business B:
4. Cost of Goods Available for Sale (D):
[tex]\[ \text{Cost of Goods Available for Sale} = \text{Opening Stock} + \text{Purchases} + \text{Carriage on Purchases} \][/tex]
[tex]\[ D = 56,000 + 120,000 + 7,500 \][/tex]
[tex]\[ D = 183,500 \][/tex]
5. Closing Stock (E):
[tex]\[ \text{Cost of Sales} = \text{Cost of Goods Available for Sale} - \text{Closing Stock} \][/tex]
[tex]\[ 135,500 = 183,500 - E \][/tex]
[tex]\[ E = 183,500 - 135,500 \][/tex]
[tex]\[ E = 48,000 \][/tex]
6. Sales (F):
[tex]\[ \text{Sales} = \text{Gross Profit} + \text{Cost of Sales} \][/tex]
[tex]\[ F = 54,200 + 135,500 \][/tex]
[tex]\[ F = 189,700 \][/tex]
7. Gross Profit on Cost of Sales (W):
[tex]\[ \text{Gross Profit on Cost of Sales} = \frac{\text{Gross Profit}}{\text{Cost of Sales}} \][/tex]
[tex]\[ W = \frac{54,200}{135,500} \][/tex]
[tex]\[ W \approx 0.40 \text{ or } 40\% \][/tex]
8. Gross Profit on Turnover (G):
[tex]\[ \text{Gross Profit on Turnover} = \frac{\text{Gross Profit}}{\text{Sales}} \][/tex]
[tex]\[ G = \frac{54,200}{189,700} \][/tex]
[tex]\[ G \approx 0.2856 \text{ or } 28.56\% \][/tex]
### Business C:
9. Gross Profit (J):
[tex]\[ \text{Gross Profit} = \text{Sales} - \text{Cost of Sales} \][/tex]
[tex]\[ J = 208,000 - 130,000 \][/tex]
[tex]\[ J = 78,000 \][/tex]
10. Closing Stock (I):
[tex]\[ \text{Cost of Goods Available for Sale} = \text{Cost of Sales} + \text{Closing Stock} \][/tex]
[tex]\[ 169,000 - I = 130,000 \][/tex]
[tex]\[ I = 169,000 - 130,000 \][/tex]
[tex]\[ I = 39,000 \][/tex]
11. Gross Profit on Cost of Sales (K):
[tex]\[ \text{Gross Profit on Cost of Sales} = \frac{\text{Gross Profit}}{\text{Cost of Sales}} \][/tex]
[tex]\[ K = \frac{78,000}{130,000} \][/tex]
[tex]\[ K \approx 0.60 \text{ or } 60\% \][/tex]
12. Gross Profit on Turnover (L):
[tex]\[ \text{Gross Profit on Turnover} = \frac{\text{Gross Profit}}{\text{Sales}} \][/tex]
[tex]\[ L = \frac{78,000}{208,000} \][/tex]
[tex]\[ L \approx 0.375 \text{ or } 37.5\% \][/tex]
### Summary of Solutions:
- Business A:
- [tex]\( A = 130,000 \)[/tex]
- [tex]\( B = 143,000 \)[/tex]
- [tex]\( C = 50\% \)[/tex]
- Business B:
- [tex]\( D = 183,500 \)[/tex]
- [tex]\( E = 48,000 \)[/tex]
- [tex]\( F = 189,700 \)[/tex]
- [tex]\( W = 40\% \)[/tex]
- [tex]\( G = 28.56\% \)[/tex]
- Business C:
- [tex]\( H = (\text{Calculated implicitly in known values})\)[/tex]
- [tex]\( I = 39,000 \)[/tex]
- [tex]\( J = 78,000 \)[/tex]
- [tex]\( K = 60\% \)[/tex]
- [tex]\( L = 37.5\% \)[/tex]
Each calculation follows standard accounting practices for determining the cost of goods sold, gross profit, and related ratios.
### Business A:
1. Cost of Sales (B):
[tex]\[ \text{Cost of Sales} = \text{Cost of Goods Available for Sale} - \text{Closing Stock} \][/tex]
[tex]\[ B = 198,000 - 55,000 \][/tex]
[tex]\[ B = 143,000 \][/tex]
2. Gross Profit on Cost of Sales (C):
[tex]\[ \text{Gross Profit on Cost of Sales} = \frac{\text{Gross Profit}}{\text{Cost of Sales}} \][/tex]
[tex]\[ C = \frac{71,500}{143,000} \][/tex]
[tex]\[ C \approx 0.50 \text{ or } 50\% \][/tex]
3. Purchases (A):
[tex]\[ \text{Cost of Goods Available for Sale} = \text{Opening Stock} + \text{Purchases} + \text{Carriage on Purchases} \][/tex]
[tex]\[ 198,000 = 60,000 + A + 8,000 \][/tex]
[tex]\[ A = 198,000 - 68,000 \][/tex]
[tex]\[ A = 130,000 \][/tex]
### Business B:
4. Cost of Goods Available for Sale (D):
[tex]\[ \text{Cost of Goods Available for Sale} = \text{Opening Stock} + \text{Purchases} + \text{Carriage on Purchases} \][/tex]
[tex]\[ D = 56,000 + 120,000 + 7,500 \][/tex]
[tex]\[ D = 183,500 \][/tex]
5. Closing Stock (E):
[tex]\[ \text{Cost of Sales} = \text{Cost of Goods Available for Sale} - \text{Closing Stock} \][/tex]
[tex]\[ 135,500 = 183,500 - E \][/tex]
[tex]\[ E = 183,500 - 135,500 \][/tex]
[tex]\[ E = 48,000 \][/tex]
6. Sales (F):
[tex]\[ \text{Sales} = \text{Gross Profit} + \text{Cost of Sales} \][/tex]
[tex]\[ F = 54,200 + 135,500 \][/tex]
[tex]\[ F = 189,700 \][/tex]
7. Gross Profit on Cost of Sales (W):
[tex]\[ \text{Gross Profit on Cost of Sales} = \frac{\text{Gross Profit}}{\text{Cost of Sales}} \][/tex]
[tex]\[ W = \frac{54,200}{135,500} \][/tex]
[tex]\[ W \approx 0.40 \text{ or } 40\% \][/tex]
8. Gross Profit on Turnover (G):
[tex]\[ \text{Gross Profit on Turnover} = \frac{\text{Gross Profit}}{\text{Sales}} \][/tex]
[tex]\[ G = \frac{54,200}{189,700} \][/tex]
[tex]\[ G \approx 0.2856 \text{ or } 28.56\% \][/tex]
### Business C:
9. Gross Profit (J):
[tex]\[ \text{Gross Profit} = \text{Sales} - \text{Cost of Sales} \][/tex]
[tex]\[ J = 208,000 - 130,000 \][/tex]
[tex]\[ J = 78,000 \][/tex]
10. Closing Stock (I):
[tex]\[ \text{Cost of Goods Available for Sale} = \text{Cost of Sales} + \text{Closing Stock} \][/tex]
[tex]\[ 169,000 - I = 130,000 \][/tex]
[tex]\[ I = 169,000 - 130,000 \][/tex]
[tex]\[ I = 39,000 \][/tex]
11. Gross Profit on Cost of Sales (K):
[tex]\[ \text{Gross Profit on Cost of Sales} = \frac{\text{Gross Profit}}{\text{Cost of Sales}} \][/tex]
[tex]\[ K = \frac{78,000}{130,000} \][/tex]
[tex]\[ K \approx 0.60 \text{ or } 60\% \][/tex]
12. Gross Profit on Turnover (L):
[tex]\[ \text{Gross Profit on Turnover} = \frac{\text{Gross Profit}}{\text{Sales}} \][/tex]
[tex]\[ L = \frac{78,000}{208,000} \][/tex]
[tex]\[ L \approx 0.375 \text{ or } 37.5\% \][/tex]
### Summary of Solutions:
- Business A:
- [tex]\( A = 130,000 \)[/tex]
- [tex]\( B = 143,000 \)[/tex]
- [tex]\( C = 50\% \)[/tex]
- Business B:
- [tex]\( D = 183,500 \)[/tex]
- [tex]\( E = 48,000 \)[/tex]
- [tex]\( F = 189,700 \)[/tex]
- [tex]\( W = 40\% \)[/tex]
- [tex]\( G = 28.56\% \)[/tex]
- Business C:
- [tex]\( H = (\text{Calculated implicitly in known values})\)[/tex]
- [tex]\( I = 39,000 \)[/tex]
- [tex]\( J = 78,000 \)[/tex]
- [tex]\( K = 60\% \)[/tex]
- [tex]\( L = 37.5\% \)[/tex]
Each calculation follows standard accounting practices for determining the cost of goods sold, gross profit, and related ratios.
Your participation means a lot to us. Keep sharing information and solutions. This community grows thanks to the amazing contributions from members like you. Trust IDNLearn.com for all your queries. We appreciate your visit and hope to assist you again soon.
