Business Case 1- Manafa paid up capital is 100,000 SAR 2- Purchased computer for 5,000 SAR...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Business Case 1- Manafa paid up capital is 100,000 SAR 2- Purchased computer for 5,000 SAR on credit 3- Manafa purchased goods with cost of 50,000 SAR on credit 4- Manafa make sales of 10,000 SAR on credit that cost 5,000 SAR 5- Manafa sold on cash of 20,000 SAR with cost of 10,000 SAR 6- Manafa paid for the supplier of computer fully (refer to No.2) 7- Manafa raise it's capital for 100,000 SAR on cash 8- Manafa paid salary for employee of 15,000 SAR 9- Employee take loan from the company 50,000 SAR to be paid in installment (deducted from salary in monthly basis amount of 5,000 SAR). 10- Manafa paid the salary of the employee and deducted the loan amortization as mentioned in number 9 11- Manafa collect 80% of the sales made before. No 4 12- Manafa decided to make provision in the remaining amount of no 4. 13- In April 1, Manafa sign a contract to lease an office for 120,000 SAR on a year. Paid in Full 14- Manafa received a land as a grant from the government with a fair value of 100,000 SAR. Hint: • Manafa uses straight line for the computer for 5 years with no Salvage Value. • Manafa uses perpetual inventory system. • Please make the proper end year adjustment. • Manafa year's ends on 31 Dec. 1- Please prepare the Balance sheet, income statements and Cashflow statements. 2- How much is Manafa Gross profit margin, net profit margin and return on equity. Business Case 1- Manafa paid up capital is 100,000 SAR 2- Purchased computer for 5,000 SAR on credit 3- Manafa purchased goods with cost of 50,000 SAR on credit 4- Manafa make sales of 10,000 SAR on credit that cost 5,000 SAR 5- Manafa sold on cash of 20,000 SAR with cost of 10,000 SAR 6- Manafa paid for the supplier of computer fully (refer to No.2) 7- Manafa raise it's capital for 100,000 SAR on cash 8- Manafa paid salary for employee of 15,000 SAR 9- Employee take loan from the company 50,000 SAR to be paid in installment (deducted from salary in monthly basis amount of 5,000 SAR). 10- Manafa paid the salary of the employee and deducted the loan amortization as mentioned in number 9 11- Manafa collect 80% of the sales made before. No 4 12- Manafa decided to make provision in the remaining amount of no 4. 13- In April 1, Manafa sign a contract to lease an office for 120,000 SAR on a year. Paid in Full 14- Manafa received a land as a grant from the government with a fair value of 100,000 SAR. Hint: • Manafa uses straight line for the computer for 5 years with no Salvage Value. • Manafa uses perpetual inventory system. • Please make the proper end year adjustment. • Manafa year's ends on 31 Dec. 1- Please prepare the Balance sheet, income statements and Cashflow statements. 2- How much is Manafa Gross profit margin, net profit margin and return on equity.
Expert Answer:
Answer rating: 100% (QA)
Solution 1 Balance Sheet as of December 31 Assets Cash 150000 20000 100000 5000 15000 50000 120000 1... View the full answer
Related Book For
Financial Reporting Financial Statement Analysis and Valuation a strategic perspective
ISBN: 978-1337614689
9th edition
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Posted Date:
Students also viewed these accounting questions
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
Uniform current sheets are located in free space as follows: 8a z A/m at y = 0, 4a z A/m at y = 1, and 4a z A/m at y = 1. Find the vector force per meter length exerted on a current filament carrying...
-
In the late 1990s, as information technology advanced rapidly and the Internet was widely developed, U.S. stock markets soared, peaking in early 2001. Later that year, these markets began to unwind...
-
Assume you are brand manager for a product line of book bags designed for college students. These bags come in each universitys school colors and are imprinted with the schools mascot. Assume you...
-
How does encapsulation protect the object from an intruder?
-
How does factor analysis allow for data reduction?
-
A sole proprietorship was started on January 1, Year 1, when it received $50,000 cash from Marlin Jones, the owner. During Year 1, the company earned $39,200 in cash revenues and paid $22,940 in cash...
-
For the case The WM. Wrigley Jr. Company: Capital Structure, Valuation, and the Cost of Capital(Darden Case: UVAF1482) please answer the following questions and explain your reasoningwhere...
-
Explain how to extend the sweep line algorithm to construct the Voronoi diagram of a set of n disjoint line segments. You can assume that no two line segments are parallel
-
What's the format for writing the front of story card?
-
What is the most common statistical design? Explain it.
-
Differentiate between experimental and control groups.
-
What is a burndown and burnup chart used for?
-
Explain how you would implement a posttest-only control group design on the Internet to measure the effectiveness of a new print ad for Toyota Camry.
-
Rotorua Products, Ltd., of New Zealand markets agricultural products for the burgeoning Asian consumer market. The company's current assets, current liabilities, and sales over the last five years...
-
An educational researcher devised a wooden toy assembly project to test learning in 6-year-olds. The time in seconds to assemble the project was noted, and the toy was disassembled out of the childs...
-
Texas Instruments primarily develops and manufactures semiconductors for use in technology-based products for various industries. The manufacturing process is capital-intensive and subject to...
-
Bookman Co. develops digital accounting systems and provides accounting-related consulting services. a. On January 1, 2017, Bookman signs a contract with Brock Florists to install a system and...
-
Empirical research cited in the text indicates that firms with an operating cash flow to current liabilities ratio exceeding 0.40 portray low short-term liquidity risk. Similarly, firms with an...
-
How and why would a country give up any of its sovereign powers?
-
As you have seen in this chapter, international trade law is founded on the importance and benefits of removing trade barriers. However, WTO rules also recognize the need to restrain trade in certain...
-
Could a contract be difficult to categorize as either public or private international law? What would such a contract look like?
Study smarter with the SolutionInn App