Give its worksheet, balance sheet, income statement
Q: lem 10-29 Break-Even Cost [LO2] Light emitting diode (LEDS) light bulbs have become required in rece...
A:
Q: Bulldogs Inc. currently has earnings before interest and taxes of P3,000,000, a degree of combined l...
A: Degree of Operating Leverage = Degree of Combined Leverage / Degree of Financial Leverage = 8 / 2 = ...
Q: Prepare all entries Bramble should have made in its accounting records during August 2020 relating t...
A: Solution:- Given, Bramble has leased a large, Alpha-3 computer system from the manufacturer. Lease ...
Q: 15. Acacia Corporation would like to market a new product at a selling price of Ph 15 per unit. Fixe...
A: Profit volume Ratio: When it comes to profit, the Profit Volume (P/V) Ratio is a measurement of the ...
Q: All Things Brass produces brass handles for the furniture industry in a four-stage process -Mixing, ...
A: What is meant by equivalent number of units? In process costing, the product will pass to through th...
Q: On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,010 in...
A: The statement which shows the final balances of all assets, liabilities and equity amounts in a desc...
Q: What do you think risk managers are doing (or in the current coronavirus situation as well as the sa...
A: The current coronavirus situation as well as the sanctions on trade with Russia has led to high risk...
Q: Windsor Co. incurs $1180875 of overhead costs each year in its three main departments, machining ($6...
A: Formula: Predetermined overhead rate = Total Overhead / Total Direct labor hours
Q: If the incremental cost of producing an item in the short run is less than the outsourcing price, th...
A: Outsourcing price is the price paid to someone else for making a product whereas in house cost is th...
Q: How much is capital credited to D at the time of formation of the partnership? To input answers, kin...
A: The non cash assets invested by partners are recorded at fair value in the market instead of book va...
Q: Orear Corporation manufactures two products: Product Z34D and Product J25M. The company uses a plant...
A: Traditionally the overhead cost is allocated on the bases of plantwide overhead rates. The activity ...
Q: 25.The current ratio is an example of a Liquidity ratio Group of answer choices True False
A: Current Ratio is a financial ratio that indicates ability of the entity to settle it's short-term ob...
Q: QUESTION 9 Total Per unit Sales revenue (30,000 units) $750,000 25 Variable costs 450,000- 15 Contri...
A: Break Even Point refers to a Point there is no profit or loss. In other words Break even point means...
Q: ABC Company has sales of $500,000, COGS of $250,000, operating expenses of $200,000, net income of $...
A: Lets understand the basics. The times interest earned ratio indicates that, how many time companies ...
Q: The following data are based on information in the 2019 annual reports of Abercrombie & Fitch, Compa...
A: Net income = Revenue - Expenses Dividend are paid from the net income of the year Retained Earning =...
Q: Bozo Company has total costs of $90,000 when it sells 20,000 units. If total fixed costs are $30,000...
A: The total cost of product= $ 90000 Total fixed cost= $ 30000 Total variable cost= Total cost- total ...
Q: Accounts payable, 31 December 2016 $50 000 Accounts payable, 31 December 2017 $80 000 Inventory, 31 ...
A: Calculation of Cash paid to supplier Cash paid to supplier = Beginning accounts payable + Purchases ...
Q: SD acquired the net assets of both GM and SR. Paying cash in the amount of P185,000 and by issuing 1...
A: Solution Calculation of purchase consideration paid by SD- Particulars To GM To SR Total Cash p...
Q: Required: When compared to variable costing income, Gem's absorption costing income is
A: Solution:- Given, Inventory for Gem's sole product totaled = 6,000 units and 5,200 units Manufacturi...
Q: Record each of the following transactions for the Toyota Corporation in general journal form. Assum...
A: Journal Entries- Journal entries refers to the official book of a company which is used to record th...
Q: Analysis of Adjusting Entry for Supplies Analyze each situation and indicate the correct dollar amou...
A: Adjusting entries are those entries which are made at the end of period to match the income and expe...
Q: Sunland Leasing Company agrees to lease equipment to Coronado Corporation on January 1, 2020. The fo...
A: A lease is a type of leasing agreement in which a series of set payments are made for the use of an ...
Q: In a statement of cash flows, the cash flows from investing activities section should report the a...
A: the assignment of accounts receivable. Financing activity a major repair to machinery charged to a...
Q: Mauro Products distributes a single product, a woven basket whose selling price is $12 per unit and ...
A: Formula: Break even point in units =Fixed cost / Unit contribution margin
Q: On January 2, 20Y7, Mikedes Company acquired 30% of the outstanding stock of Violet Company for $720...
A: Journal entry shows the recording of the transaction during an accounting year and every transaction...
Q: Krueger Corporation manufactures a single product whose selling price is $134 per unit and whose var...
A: Answer) Calculation of unit sales to earn Target profit of $ 8,450 Unit Sales to earn target Profit ...
Q: The information in the statement of cash flows helps investors, creditors and others do all of the f...
A: The information in the statement of cash flows helps investors, creditors and other :- show the i...
Q: The capital structure of Bulldogs Inc. is comprised of 50% ordinary stock, 25% preferred stock, and ...
A: Formula: Weighted Average Cost of Capital = (Cost of Ordinary Stock X Weightage of Ordinary Stock) +...
Q: Given the following data for Calandrucci Company, calculate the cost of gocds manufactured: In $'s D...
A: The cost of goods manufactured includes the total cost incurred on the goods that are finished durin...
Q: Presented below is the operating activities section of the statement of cash flows f Kerry Corp. for...
A: The question is based on the concept of Cash flow statement.
Q: A condominium unit is being amortized with a quarterly payment of P56,000 for 5 years at 3% compound...
A: Amortization of Loan: An amortized loan is a form of loan in which the borrower is required to make ...
Q: 28. A business pays weekly salaries of $20,000 on Friday for a five-day week ending on that day. The...
A: The use of adjusting entries can assist any accounting transaction. The five most common are accrued...
Q: Isco Inc manufactures a produuct for S 20 per
A: In this problem Usco is charged as per Federal Tax rules and Foreignco...
Q: continue Teal Company, a major retailer of bicycles and accessories, operates several stores and is...
A: The cash flow statement is prepared to record the cash flow from various activities during the perio...
Q: A gift store reported the following records for its operation during the month of February. ...
A:
Q: The accountant of AA Company gathered the following information: The November 30 bank statement bal...
A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with...
Q: Example 2-17 Nancy Seigle earns a monthly salary of $3,100 for a 35-hour week. For overtime she rece...
A:
Q: 14. A retail company determines its selling price by marking up variable costs 60%. In addition, the...
A: The correct answer for the above mentioned question is given in the following steps for your referen...
Q: Use the following information to calculate total ending cash and equivale Beginning Cash and Equival...
A: The cash flow statement (CFS) is a financial statement that shows the movement of cash and cash equi...
Q: Production-volume variance formula
A: Variance: It implies to a difference between the actual and standard outcomes. If the actual outcome...
Q: A building acquired at the beginning of the year at a cost of $104,000 has an estimated residual val...
A: Accounting defines depreciation as the systematic reduction of a fixed asset's reported cost until t...
Q: The basic principles of cash management include O investing idle cash. O extending more credit. O ca...
A: Solution Cash management Cash management is a very important aspect to look after in any business Th...
Q: quincy is single. his income of $250000 includes wages of $210000, $1500 of interest,$3500 of tax ex...
A: Net investment = Gross investment - Depreciation on capital asset
Q: Noel Stewart has estimated that the total fixed costs for his department are £10,000.He also estimat...
A: Lets understand the basics. For calculating fixed cost per unit, we will need to use below formula. ...
Q: Total estimated direct labour cost $2,000,000 The WIP account given below relates to the activities ...
A: The manufacturing overhead cost is applied to the production on the basis of predetermined overhead ...
Q: Raglan Stores PLC has grown rapidly since its stock market flotation five years ago. Despite its rap...
A: In this question ,we will discuss that how the value of the company change if the required Rate of R...
Q: How much is the share in the profit of associate in 20x1?
A: In this case the share in the profit of associate would be calculated as share in profit of P4,000,0...
Q: The following costs pertain to Bulacan Corporation’s only product Leather: Direct Materials P 10.00/...
A: Under throughput technique product cost consist of only direct material cost . All other cost will b...
Q: ation on last year's es and production ws: Sales price per nit: Direct material Dverhead (50% va
A: Incremental costs refer to the total expense born by the company while producing an extra unit of a ...
Give its worksheet,
Step by step
Solved in 3 steps with 2 images
- Return on assets The financial statements of The Hershey Company (HSY) are shown in Exhibits 6 through 9 of this chapter. Based upon these statements, answer the following questions. The percent that a company adds to its cost of sales to determine the selling price is called a markup. That is Hershey’s markup percent? Round to one decimal place.Return on assets The following data (in millions) were adapted from recent financial statements of Tootsie Roll Industries Inc. (TR): The percent a company adds to its cost of sales to determine selling price is called a markup. What is Tootsie Roll’s markup percent? Round to one decimal place.Exercise 1-50 Statement of Cash Flows OBJECTIVE o Walters Inc. began operations on January I. 2019. The following information relates to Walters cash flows during 2019. Required: 1. Calculate the cash provided/fused for each cash flow category. 2. CONCEPTUAL CONNECTION Comment on Walters creditworthiness.
- Some selected balances of DD Co. for year ended Dec-31-2019 are as follows with theirnormal balances before adjustments:Cash and Cash Equivalent Br 20,000 Owners’ Capital 40,000Notes Receivables45,000Retained Earnings75,000Office Supplies12,000Sales Revenues640,000Prepaid Insurance72,000Interest Income12,000Inventory (Average Cost)24,000Cost of Goods Sold320,000Fixed Assets120,000Selling Expenses21,000Accum. Depr- Fixed assets36,000Salary and Wages Expense105,000Unearned Rent (Liability)56,000Rent Expense15,000Requireda. Prepare the necessary adjusting entries for the following items as not yet recorded on Dec-31-2019:i. The office supplies consumed during the year is Br 8,000ii. The Unexpired part of insurance is only Br 26,000iii. Br 30,000 is earned sales revenues from the unearned advance collectioniv. Salary and wages accrued as on 31-Dec-2019 amounts to be Br 18,000v. Depreciation Expenses allocated for the year amounts to be Br 15,000vi. There are accrued interest of Br 8,000 on…Question 1The following information was extracted from the financial statement of Barryfor the year ended 31 December 2020. RMSales 437,500Opening inventories 17,500Closing inventories 26,250Cost of sales 262,500Other income 3,750Expenses 61,250Current liabilities 47,250Trade receivables 39,375Bank 8,750Cash 31,500Required:(a) Show the formulae and compute the value of the following for Barry:(i) Purchases(ii) Gross profit(iii)Net Profit1. Compute the current assets.Cash Php 25,867.00Barney’s drawing 50,485.00Accounts Payable 78,584.00Notes Receivable 45,051.00Building 1,500,125.00Inventory 33,669.002. Compute the Net Income.Service Income Php 356,867.00Prepaid Rent 16,800.00Interest Expense 1,523.00Barney’s drawing 21,786.00Taxes 4,544.00Utilities Expense 3,651.003. The liabilities of Bb Barn are equal to 1/3 of thetotal assets. The owner's equity is P 6,300,500. Whatis the amount of the liabilities?4. Prepare journal entries to the following transactionsfor the year 2020.Sept. 1 V Barney invested Php 150,000 in Barney repair ShopSept 3 Purchased equipment worth Php 80,000 on account.Sept. 12 Paid Php 25, 000 for the equipmentpurchased dated Sept. 3, 2020.Sept. 15 Rendered service amounting toPhp 45,000.Sept. 17 Paid salaries to employees, Php16,000
- Financial statementsThe assets and liabilities of Global Travel Agency on December 31, 20Y5.and its revenue and expenses for the year are as follows: Accounts payableAccounts receivableCashCommon stockFees earnedLandMiscellaneous expense Rent expenseSuppliesSupplies expenseUtilities expenseWages expense $ 108,000539,000200,000575,000940,0001,500,000$ 19,50056,0006,00012,70034,80415,000 Common stock was $525,000 and retained earnings was $1,250,000 as ofJanuary 1. 20Y5. During the year, additional common stock of $50,000was issued for cash, and dividends of $90,000 were paid. Instructions1. Prepare an income statement for the year ended December 31.20Y5.2. Prepare a statement of stockholders' equity for the year ended December 31. 2015.3. Prepare a balance sheet as of December 31, 20Y5.4. What items appears on both the statement of stockholders'equity and the balance sheet?Pleasantville Company had the following balance sheet on January 1. Pleasantville CompanyBalance SheetJanuary 1 1Cash$175,000.00Accounts Payable$57,000.002Inventory157,000.00Notes Payable250,000.003Property, Plant, and Equipment200,000.00Mortgage Payable150,000.004Patent25,000.00Retained Earnings100,000.005$557,000.00$557,000.00 On January 2, Carrs Company came to an agreement to purchase Pleasantville by acquiring all of its outstanding shares for $575,000 in cash. On that date in time, the fair value of their inventory was $150,000, and the fair value of the equipment was $225,000. The book value equals the fair value for all other accounts listed.Required:1. Compute the goodwill associated with the purchase of Pleasantville.2. Prepare the journal entry necessary at January 2, to record the acquisition of Pleasantville.JEY-4322 Inc. reported the following data for last year: JEY-4322 Inc.Balance Sheet Beginning BalanceEnding BalanceAssets Cash$ 128,000$ 139,000Accounts receivable331,000481,000Inventory567,000471,000Plant and equipment, net894,000869,000Investment in Tesla Inc.400,000428,000Land (undeveloped)246,000249,000Total assets$ 2,566,000$ 2,637,000Liabilities and Stockholders' Equity Accounts payable$ 382,000$ 341,000Long-term debt981,000981,000Stockholders' equity1,203,0001,315,000Total liabilities and stockholders' equity$ 2,566,000$ 2,637,000 JEY-4322 Inc.Income StatementSales $ 3,880,000Operating expenses 3,336,800Net operating income 543,200Interest and taxes: Interest expense$ 111,000 Tax expense197,000308,000Net income $ 235,200 JEY-4322 Inc. paid dividends of $123,200 last year. The “Investment in Tesla Inc.” item on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return is 15%. What was the company’s residual income…
- Please try to answer accurately and accordance with requirements.Thank you!The general ledger of Emerates Traders Ltd includes the following accounts as at 30 June 2018:$000Sales Revenue 8,280Dividend Received 126Interest Received 65Cost of Sales 1,105Selling and Distribution expenses 450Administration expenses 1,550Finance costs 16Valuation loss on trading investments (considered a material item) 250Income tax expense charged to profit and loss 1,500Expenses classified by nature include:Auditors Remuneration:Audit of accounts 20Information technology controls advice 5 25Depreciation expense:Buildings 120Plant and Equipment 225 345Additional InformationThe valuation loss on investments held for trading is not tax deductible.Task 4a. Complete a Statement of Comprehensive Income showing expenses classified byfunction on the face of the Income Statement together with notes to the incomestatement including the material item.- Note that Emerates Traders Ltd discloses material items on the…Question Content Area Use the information provided for Harding Company to answer the question that follow. Harding Company Accounts payable $31,654 Accounts receivable 69,987 Accrued liabilities 6,524 Cash 16,364 Intangible assets 38,210 Inventory 80,832 Long-term investments 90,451 Long-term liabilities 73,398 Notes payable (short-term) 26,425 Property, plant, and equipment 659,739 Prepaid expenses 1,697 Temporary investments 38,252 Based on the data for Harding Company, what is the amount of quick assets?UTV Corp. have the following account balances for the year ended December 31, 2020:DEBIT BALANCESAmountCash and cash equivalents400,000Accounts receivable900,000Raw materials560,000Goods in process600,000Finished goods1,400,000Financial assets at FVOCI2,500,000Sinking fund200,000Land1,000,000Building6,000,000Plant and equipment2,400,000Patent800,000Goodwill1,400,000Unrealized loss – FVOCI100,000Prepaid benefit cost20,000Treasury shares at cost250,000TOTAL18,530,000 CREDIT BALANCESAmountBank overdraft100,000Due from an officer50,000Allowance for bad debts40,000Accumulated depreciation – building1,600,000Accumulated depreciation – plant and equipment400,000Notes payable, due June 30, 20211,300,000Notes payable, due June 30, 20222,100,000Accounts payable1,000,000Provision180,000Warranty liabilities80,000Income tax payable120,000Finance lease liability180,000Deferred tax liability280,000Actuarial gain300,000Revaluation surplus360,000Share capital6,000,000Share premium2,000,000Retained…
