AccExample_Class-1

AccExample_Class-1 - Data Month 1 Total Sales 400 Purchases...

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Unformatted text preview: Data Month 1 Total Sales 400 Purchases 420 Loss 10 Price 5 Purchase Price 3 Salary paid to himself 500 Income Statement Sales 2,000 COGS (1,200) Gross Profit 800 Operating Expenses (500) Inventory Loss (30) Depreciation (2) EBIT 268 Interest (1) EBT 267 Taxes (20%) (53) Net Income 214 Inventory Schedule Beginning- + Purchases 1,260 - COGS (1,200)- Loss (30) Ending 30 Month 1 Current Assets Cash 319 Accounts Receivable- Inventory 30 Total 349 Fixed Assets Gross 120 Depreciation (2) Net 118 Total Assets 467 Current Liabilities Accounts Payable- Short-term Debt 100 Taxes Payable 53 Total 153 Long Term Debt- Equity Capital 100 Retained Earnings 214 Total 314 Total Liabities and Equity 467 Gap- Tax Rate 20% Packing Costs 1.25 Data Month 1 Month 2 Sales, Mehmet 400 400 Sales, Veli 200 Total Sales 400 600 Purchases 420 610 Loss 10 Price 5 5 Purchase Price 3 3 Veli Comission 1 Salary paid to himself 500 600 to Veli 100 Income Statement Sales 2,000 3,000 COGS (1,200) (1,800) Commissions- 1,200 Gross Profit 800 2,400 Operating Expenses (500) Inventory Loss (30) Depreciation (2) (4) EBIT 268 2,396 Interest (1) (1) EBT 267 2,395 Taxes (20%) (53) (479) Net Income 214 1,916 Inventory Schedule Beginning- 30 + Purchases 1,260 1,830 + Package Costs- - COGS (1,200) (1,800)- Loss (30) Ending 30 60 Month 1 Month 2 Current Assets Cash 319 1383 Accounts Receivable- - Inventory 30 60 Total 349 60 1443 Fixed Assets Gross 120 240 Depreciation (2) (6) Net 118...
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This note was uploaded on 03/25/2008 for the course FIN 501 taught by Professor Orbay during the Spring '08 term at Sabancı University.

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AccExample_Class-1 - Data Month 1 Total Sales 400 Purchases...

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