(In millions) 2019 2018 2017 $ 9,135 Revenue Cost of Goods Sold $ 9,890 6,250 $ 9,690 6,000 5,890
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Performing horizontal analysis
Verifine Corp reported the following on its comparative income statementPrepare a horizontal analysis of revenues and gross profit-both in dollar amounts and in percentages-for 2019 and 2018.
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- How much is the total income tax expense recorded for the year ended December 31, 2019? a. P246,000 b. P270,000 c. P540,000 d. P786,000What is the taxable income for the year 2020? A. P25,000 B. P75,000 C. P280,620 D. P300,000Use the information below to answer questions 3, 4, 5 and 6. 2020 2021 Sales$5,300 $5,900 Depreciation750850COGS24002900Interest180196Cash200500Accts Receivables200400Notes Payable800550Long-term debt15001950Net fixed assets30003500Accounts Payable250400Inventory700900Dividend payout30%30%Tax rate35%30% What is the ROE for 2021?
- The unadjusted net income for the year 2019 is: A. P1,540,200B. P1,458,200C. P1,482,200D. P1,421,000From the information given below Calculate the amount to be maintained as Legal Reserve for the year ended December 31, 2020. 2020 2019 RO’ 000 RO’ 000 PROFIT BEFORE TAXATION 33,793 31398Tax Expense 5,007 4,73143. What is the carrying amount of the investment in associates at December 31, 2021? A. P708,500 B. P716,000 C. P718,000 D. P720,000
- 2020 2019 Cash 35,000 32,000 Accounts receivable 33,000 30,000 Inventory 31,000 47,000 Property, plant and equipment 100,000 95,000 Unamortized bond discount 4,500 5,000 Cost of goods sold 250,000 380,000 Selling expenses 141,500 172,000 General and administrative expenses 137,000 151,300 Interest expense 4,300 2,600 Income tax expense 20,400 61,200 756,700 976,100 Allowance for doubtful accounts 1,300 1,100 Accumulated depreciation 16,500 15,000 Trade accounts payable 25,000 17,500 Income taxes payable 21,000 27,100 Deferred income taxes 5,300 4,600 8% callable bonds payable 45,000 20,000 Share capital 50,000 40,000 Share premium 9,100 7,500 Retained earnings 44,700 64,600 Sales 538,800 778,700 756,700 976,100 The entity purchased P5,000 in equipment during 2020. The entity allocated one-third of the…Compute the income tax due in 2021. A. 50,000B. 800,000C. 290,000D. 400,000On September 30, 2020, Zee Company paid P240,000 for equipment that will be used for the next four years. What is the equipment's carrying value on December 31, 2023? O P240,000 O P225,000 O P165,000 O P105,000
- What amount was recognized as actuarial gain on PBO during the year? 100 000 200 000 240 000 0 What is the benefit expense for 2019? 500 000 795 000 295 000 195 000How much shall be reported as interest income for 2022? 90,000 96,836 120,000 129,115 Answer not givenMay I ask for an explanation and solution to the question for a better understanding. Thank you! 11. What is the amount of Sculler's working capital at December 31, 2021? a. P41,000 b. P45,000 c. P50,000 d. P91,000
