Amount Sales 123,000 Variable expenses 49,200 Contribution margin 73,800 Fixed expenses 24,000 Net operating income 49,800 %24
Q: Monaco manufacturing corp has the following account balances per ledger for the period ending…
A: The question is related to Cost Sheet for the year ended December 31st, 2019. The Cost Sheet or…
Q: Exercise 10-24 (Algo) Interest capitalization [L010-7] On January 1, 2021, the Highlands Company…
A: Expenditure×Weight=Average
Q: Oa. 4. 4. 6 4. O b. 10 232
A: Basic accounting Method used in excel Formula of Count if
Q: The assembly division of Stiles Watches, Inc. uses the FIFO method of process costing. Consider the…
A: Equivalent units means number of units that is taken as completed for the calculation of cost per…
Q: Barney Technologies - As the new accountant for Barney Technologies, you notice that their some…
A: Calculation of Total Current Assets Amount Cash $ 17,000 Office Supplies $…
Q: Below were transactions for the month of March 2021 for Aisyah, a sole trader: Date Business…
A: The transactions in the business effects two or more accounts of the business. If one account is…
Q: Machinery Purchased for 5 so0000 Accumulated depreciation value is 5 LO0OI0 Salá for $ 400000…
A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period called as…
Q: Earthworks is an excavation company which started its operations in the year 2008. The board of…
A: CCA stands for "Common Classes and Rates:"Cost of capital is an important part of accounting as it…
Q: The assets and liabilities of Matt Wesley Auto Shop are as follows: Cash, S10,000; Accounts…
A: Since basic accounting equation is Total assets = Total liabilities + equity
Q: One day, the company chooses to buy their new accounting information system (AIS), and decide which…
A: Accounting Information System is the system of various program or functions for accounting. It…
Q: Equipment acquired on January 6 at a cost of $322,900 has an estimated useful life of 9 years and an…
A: Depreciation is a non-cash expense. We book the depreciation to record the normal wear and tear of…
Q: Quirk Corporation issued a 100% stock dividend of its common stock which had a par value of $10…
A: Since the shares have been issued a dividend which is::100% of par value.. The amount to be…
Q: The assets and liabilities of Matt Wesley Auto Shop are as follows: Cash, S10,000; Accounts…
A: Introduction: Accounting equation: Sum of Liabilities and owner equity value derives the Total…
Q: The following lots of Commodity Z were available for sale during the year. Beginning inventory 10…
A: Introduction: LIFO: LIFO stands for Last in First out. Which means last received inventory to be…
Q: 14. Zelgius, Ike, and Greil are partners in an accounting firm. Their ending capital balances were:…
A: Answer) Calculation of Greil’s Share in Total Profits Greil’s share in Total Profits = Greil’s…
Q: Miracle Car Wash located in Nashville, Tennessee has been providing Interior and exterior car washes…
A: A flexible budget is prepared on the basis of the budgeted rate and on the basis of different…
Q: In 2021 an investor sold capital property for $80,000. The cost base of the property was $55,000.…
A: A capital gain is the increase in the value of a financial instrument when it is sold. A capital…
Q: What is the Noncontrolling interest's share in the Net income of the subsidiary?
A: On January 2, 2019, U Co. purchased 75% of the outstanding shares of N Co. resulting to a goodwill…
Q: The sales of Super Store for the month is P 80,756.00. Beginning inventory was P 24,435.00; and…
A: Formula used: Cost of goods sold = Beginning inventory + Purchases - Ending inventory
Q: For the coming period Candy has budgeted to purchase and use 41,650 ounces of icing at $0.21 an…
A: 1. Flexible-budget variance =Actual Cost Incurred - Budgeted cost for actual oitput= 43,000…
Q: CBD Shop cash balance in the balance sheet ending June 30 20X0 shows $16 000. The net cash flows…
A: The correct Option in the given question is: (d) The cash in the balance sheet ending 30 June 20X1…
Q: + 10 Primary income (investment income earned abroad) 72 Imports of goods and services 98 Augusta…
A: Capital account indicates a country's balance of payments. Over the course of a year, the capital…
Q: The ending Retained Earnings balance of Lambert Inc. increased by $1.4 million from the beginning of…
A: Formula: Dividends declared and paid = Net income earned - Increase in Ending retained earnings…
Q: Nivea Company is planning to introduce a new product. Market research information suggests that the…
A: Introduction: A product is a tangible object that is placed on the market for purchase, attention,…
Q: nd thereafter he wishe
A: The concept of time value of money states that worth of money changes with passage of time. This is…
Q: Darby Company, operating at full capacity, sold 154,100 units at a price of $51 per unit during the…
A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…
Q: What is the average inventory at retail? [round off numbers] вом EOM January $50,500 $53,400…
A: The average retail inventory is calculated by taking the sum of all the inventory at the beginning…
Q: Vegas Company has the following unit costs: Variable manufacturing overhead $ 20 Direct materials 25…
A: The contribution margin is calculated as difference between sales revenue and variable cost.
Q: 16. Ragnell and Alondite are partners sharing profits in the ratio of 3:2, respectively. On January…
A: Answer:- C The new capital balance of Ragnell, Alondite and Altina respectively would be = ₱11,520…
Q: The Sales Journal for March 2017 was destroyed, but Washeed was able to provide the following…
A: The Sales Ledger Control Account is a summarized account that validates the Sales Ledger's…
Q: If a business purchased equipment on account, which accounts would be used? equipment and unearned…
A: Introduction: Journals: Book of prime entries also called as Journal entries. Each and every…
Q: B part plz.. hand written plzzzzz...othereise skip
A: Under Variable Costing Method of the cost valuation of inventory, which calculating the per unit…
Q: Calculate the missing values and express the answers rounded to two decimal places. Rate of Amount…
A: Markup on Cost = Profit/Cost x 100 Markup on Sales = Profit/Sales x 100 Profit = Sales - Cost
Q: Monaco manufacturing corp has the following account balances per ledger for the period ending…
A: Amount (In P) Amount (In P) Sales 1,100,000 Less: Sales Discount…
Q: (multiple answers) Choose all correct answers. O Using backtesting with ex-post comparison can…
A: Financial institutions A financial institution refers to the company that is involved in the dealing…
Q: Equipment for immersion cooling of electronic components has an installed value of P 819,000 with an…
A: Introduction:- It is one of the depreciation method It is accelerated depreciation method. The…
Q: The profitability and financial position of a firm can be judged to be improving, or det competitors…
A: In business there is need of comparing with other similar companies so that better valuation can be…
Q: At the end of its first year of operations, December 31, 2020, ASHOPEE Company had accounts…
A: Allowance for uncollectible accounts is considered a contra asset account. It is prepared against…
Q: . Partners Lanvega, Tauroneo, and Bryce share profits and losses in the ratio of 4:5:1. The…
A: Liquidation of partnership means cancelling all the rights and liabilities of the partners,…
Q: Your company declared $13,800 cash dividends on stock. There were 3o, dividends payable at the…
A: Formula: Dividends paid = Beginning dividends + Dividends declared - Ending dividends
Q: Question 13: Which piece of information is NOT included on a W-2? answer: A. Social Security number…
A: Form 941 is the Employer's Quarterly Federal Tax Return. Form W-2 shows the amount of income earned…
Q: Question 7: Hamilton, Inc. prepared the following payroll summary for the current month: Total…
A: Payroll Register: Each pay period and pay day is recorded in a payroll register, which contains…
Q: during 2020. For consolidation purposes, what is the non- controlling interest in net income of S fo
A: Introduction Minority interest means ownership or interest of less then 50% of an enterprise. The…
Q: May Made cash sales of $6,300; the cost of the inventory was $3,700. 1 Purchased $2,000 of inventory…
A: Introduction: Journals: Another name for journals also called as Book of prime entries. Journals…
Q: Alicia has been working for JMM Corporated for 32 years. Alicia participates in JMM's defined…
A: Average total compensation- Average Total Compensation means the average of the Executive's yearly…
Q: Banks are specifically interested in accounts receivable and inventory as these are collateral for a…
A: Account Receivables are the current asset of the company. It is listed in balance sheet of the…
Q: a. From the following list of balances, prepare the Accounts Receivable Control Account for the…
A: Control accounts shorten the time it takes to produce management account data since the control…
Q: Determine the consolidated net income for 2020.
A: On January 2, 2019, U Co. purchased 75% of the outstanding shares of N Co. resulting to a goodwill…
Q: 3y completing the table given below, and then applying the relevant formulae, determine the linear…
A: As per our protocol we provide solution to the one question only but as you have asked two questions…
Step by step
Solved in 2 steps
- V. A company’s contribution format income statement for the previous follows: AmountSales P300,000Variable expenses 120,000Contribution margin 180,000Fixed expenses 108,000Net operating income P72,000 Required:a. Compute the company’s degree of operating leverage. b. Using the computed degree of operating leverage, estimate the effect on net operating income of a 5% increase in sales. c. Prepare an income statement using contribution format to verify your answer in (b)INCOME STATEMENT Hermann Industries is forecasting the following income statement:Sales $8,000,000Operating costs excluding depr. & amort. 4,400,000EBITDA $3,600,000Depreciation & amortization 800,000EBIT $2,800,000Interest 600,000EBT $2,200,000Taxes (40%) 880,000Net income $1,320,000The CEO would like to see higher sales and a forecasted net income of $2,500,000. Assumethat operating costs (excluding depreciation and amortization) are 55% of sales and thatdepreciation and amortization and interest expenses will increase by 10%. The tax rate, whichis 40%, will remain the same. What level of sales would generate $2,500,000 in net income?For company, XRZ,Equity multiplier –1.33Total Asset Turnover--1.58Profit Margin – 7.1% Calculate the ROE Its very urgent
- Current Asset 120 000Cash 20 000Accounts Receivable 45 000Short-term investments 12 000Merchandise Inventory 42 000Current Liabilities 68 000 What is the company's current ratio?What is the company's quick ratio?The following results are available for Division X and Y:Division X Division YProfit before interest and tax P185 000 P172, 000Capital employed P1, 540, 000 P1, 650, 000The cost of capital is 10%.Calculate and comment on the performance of the departments based on:a. Return on capital employed (4 marks)b. Residual incomPrepare the Pro-Forma Statement of Financial Position for the year ending 31 December 2023 INFORMATIONSibiya ProjectsStatement of Comprehensive Income for the year ended 31 December 2022 RSales 10 000 000Cost of sales (5 750 000)Gross profit 4 250 000Variable, selling and administrative costs (1 500 000)Fixed selling and administrative costs (500 000)Net profit 2 250 000 Statement of Financial Position for the year ended 31 December 2022ASSETS RNon-current assets 800 000Property, plant and equipment 800 000 Current assets 3 400 000Inventories 1 600 000Accounts receivable 600 000Cash 1 200 000TOTAL ASSETS 4 200 000 EQUITY AND LIABILITIESEquity 3 760 000 Current liabilities 440 000Accounts payable 440 000TOTAL ASSETS AND LIABILITIES 4 200 000 Additional informationA. The sales budget for 2023 is as follows:First Quarter Second Quarter Third Quarter Fourth QuarterR2 625 000 R2 750 000 R2 875 000 R2 750 000 B. 90% of sales is collected in the quarter of the sale and 10% in the quarter…
- Sales : $250,000Costs : $134,000Depreciation : $10,200Operating expenses : $6,000Interest expenses : $20,700Taxes : $18,420Dividends : $10,600Addition to Retained Earnings : $50,080Long term debt repaid : $9,300New Equity issued : $8,470New fixed assets acquired : $15,000 You are required to:iv) Calculate the cash flow from assets v) Calculate net capital spending vi) Calculate change in NWCRevenues 800,000Income from continuing operations 100,000Comprehensive income 120,000Net income 90,000 Income from operations 220,000Selling and administrative expenses 500,000Income before income tax 200,000Required: Calculate the following: i. Other income and expenses ii. Financing costs iii. Income tax iv. Discontinued operations v. Other comprehensive incomeSalesOperating costs (excluding depreciation and amortization) EBITDADepreciation and amortization Earnings before interest and taxes Interest Earnings before taxesTaxes (40%)Net income available to common stockholders Common dividendsSEBRINGCORPORATION: BALANCESHEETSFORYEARENDINGDECEMBER31 (FIGURES ARE STATED IN MILLIONS) Assets: Cash and marketable securities Accounts receivableInventories Total current assets Gross Fixed Assets Less DepreciationNet plant and equipment Total assets 2005 2004 $3,600.0 $3,000.0 $3,060.0 $2,550.0 $540.0 $450.0 90.0 75.0 $450.0 $375.0 65.0 60.0 $385.0 $315.0 154.0 126.0 $231.0 $189.0 $15.0 $13.0 2005 2004 $ 36.00 $ 30.00 $ 340.00 $ 250.00 $ 457.00 $ 351.00 $ 833.00 $ 631.00 $ 1,065.00 $ 825.00 $ (165.00) $ (75.00) $ 900.00 $ 750.00 $ 1,733.00 $ 1,381.00 $ 324.00 $ 270.00 $ 201.00 $ 155.00 $ 216.00 $ 180.00 $ 741.00 $ 605.00 $ 450.00 $ 450.00 $ 1,191.00 $ 1,055.00 $ 150.00 $ 150.00 $ 392.00 $ 176.00 $ 542.00 $ 326.00 $ 1,733.00 $ 1,381.00…
- The following are available for divison X and Y Profit before interest and tax X 185 000 Y172 000 Capital employed X 1 540 000 Y 1 650 000 The cost of capital is 10% comment on the performance of the departments based on a. Return on capital employed b.residual incomeUnderstanding CVP relationships Calculate the missing amounts for each of thefollowing firms: Contribution Variable Margin Fixed OperatingSales Costs Ratio Costs Income (Loss)Firm A $320,000 ? 32% ? $38,300Firm B ? $465,050 ? $118,000 71,950Firm C 134,000 ? 26% 36,700 ?Firm D ? 59,000 20% ? (4,920)Assume that a company has the following data: EBIT=1,200 EBITDA Margin=9.4% Tax rate 39% Net PP&E=2680 Net Working Capital=812 Sales = 14351 Depreciation and Amortization=376 Stores=400 Calculate Return on Capital (or ROIC) Please show your work.