Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

AllHome Bhd. is a hardware retail company with financial year runs from January 1 through December 31. In 2018. AllHome Bhd. sold 15000 units of

image text in transcribed

AllHome Bhd. is a hardware retail company with financial year runs from January 1 through December 31. In 2018. AllHome Bhd. sold 15000 units of its product at a price of RM480 per unit. The company reported estimated sales returns/return inwards in 2018 of RM240000. AllHome actually purchased 17000 units of its product from its manufacturer in 2018 at an average cost of RM380 per unit. Operating expenses (excluding depreciation) for All Home Bhd. in 2018 were RM410000 and depreciation expense was RM100,000. AllHome had RM2000000 in total debt throughout 2018. This debt carried an annual interest rate of 12%. Finally, AllHome tax rate was 30%. a) Calculate the NET sales for the year b) Calculate the cost of goods sold c) What is interest expense amount? d) The amount of taxes need to be paid is e) The net profit is f) What is the net profit ratio for the company? What does the net profit margin ratio mean? Choose from the list 1. gross profit per RM1 sale 2. net profit per RM1 sale 3. net profit per 200% sale 4. net profit per gross profit Format : 6960000 Format : 8600000 Format: 720000 Format : 886000 Format : 922000 Format : 0.04 Format : 6

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Fundamentals

Authors: John Wild

7th Edition

1260247864, 9781260247862

More Books

Students also viewed these Accounting questions

Question

=+c) What were the treatments? Chapter Exercises

Answered: 1 week ago

Question

2. What do the others in the network want to achieve?

Answered: 1 week ago

Question

1. What do I want to achieve?

Answered: 1 week ago