Sidewinder, Inc., has sales of $674,000, costs of $338,000, depreciation expense of $83,000, interest expense of $48,000, and a tax rate of 25 percent. The firm paid out $78,000 in cash dividends. What is the addition to retained earnings? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Addition to retained earnings
Q: The following extract is from the statement of profit or loss of Gearing Co for the year ended 30…
A: Retained earnings: Retained earnings are that portion of profits which are earned by a company but…
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A: Solution:- Net income means the net profit earned by a firm on its sales. So, net income = Sales x…
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A: Formulas: Net income = (Sales - Costs -Depreciation - Interest)*(1-Tax rate)…
Q: Griffins Goat Farm, Inc., has sales of $681,000, costs of $343,000, depreciation expense of $87,000,…
A: Given information: Sales amounted to $681,000 Costs of $343,000 Depreciation expense is $87,000…
Q: Sidewinder, Inc., has sales of $638,000, costs of $329,000, depreciation expense of $74,000,…
A: Earning per share: It is a financial ratio where how much share is contributed to the total net…
Q: Trevi Corporation recently reported an EBITDA of $32,800 and $9,500 of net income. The company has…
A: given, EBITDA =$32,800 net income= $9,500 interest expense= $6,700 corporate tax rate = 35 %
Q: Griffins Goat Farm, Inc., has sales of $677,000, costs of $339,000, depreciation expense of $83,000,…
A: Earning per share is ratio of net income left for common share holders and the outstanding shares.…
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A: Total Dividend Paid $ 44,500.00 No. of Shares 28,000.00 Tax Rate 24% Sales…
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A: The retained earnings are the net income of the business to be available for shareholders.
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A: Formula: Taxable income = EBIT + Dividends + Net capital loss Sum of both EBIT , Dividends income…
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A: The price sales ratio is calculated as market price of shares divided by Annual sales.
Q: . What was the depreciation expense?
A: Information Provided: Annual Revenue = $37,800 COGS = $23,200 Administrative expenses = $6300…
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A: Return on Assets: Return on assets (ROA), also known as return on total assets, is a measurement of…
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A: Given the following information: Net income: $9,512 Tax rate: 30% Total interest expense paid:…
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A: In this question we require to calculate the addition to retained earnings for Papa Roach…
Q: Griffins Goat Farm, Ic., has sales of $681,000, costs of $343,000, depreciation expense of $87,000,…
A: The income that a common shareholder earns on the shares which are under the possession of the…
Q: Reliable Corporation had sales of $61,122,248, cost of goods sold of $24,201,696, operating expenses…
A: Given: Reliable Corporation had sales of $60,257,593, cost of goods sold of $24,092,883, operating…
Q: ACE, Inc. incurred depreciation expenses of $21,900 last year. The sales were $811,400 and the…
A: Given Information: Depreciation expense = $21,900 Sales = $811,400 Retained earnings = $14,680…
Q: A firm paid R800 000 in dividends over the last period. The beginning and ending retained earnings…
A: A firm paid R 800 000 in dividends over the last period. The beginning and ending retained earnings…
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A: Dividend payout ratio means the amount of dividend distributed as compared to earning. Return on…
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A: Depreciation is the reduction in the value of an asset over a useful life of the asset. It is an…
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A: Here, To Find: Part a. Total debt in year 20X4 =? Part b. New long -term debt financing needed in…
Q: Last year the P.M. postem corporation had sales of $419,000, with a cost of goods sold of $111,000.…
A: Given information : Sales 419000 Cost of goods sold 111000 Operating expenses 126000 The…
Q: Nataro, Incorporated, has sales of $678,000, costs of $340,000, depreciation expense of $84,000,…
A: Addition to retained earnings is the amount that is left over from net income after distributing…
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A: net income = $70 million retained earnings = $900 million previous year retained earnings =…
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A: The times interest earned ratio, also known as the interest coverage ratio, shows a company's…
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A: The remaining amount of the revenue after the deductions of the expenses and the tax amount is term…
Q: In the past year, TVG had revenues of $3.10 million, cost of goods sold of $2.60 million, and…
A: Annual interest expense = Amount of debt outstanding x rate of interest x period = $1,100,000 x 9% =…
Q: In the past year, TVG had revenues of $2.93 million, cost of goods sold of $2.43 million, and…
A: Time interest earned ratio This give the ability of firm to pay interest on debt regularly. Time…
Q: Avon Co. has paid out P6.0 million in dividend to its shareholders. The company earned P20.0…
A: Dividend = P 6,000,000 Earning = P 20,000,000
Q: This year, Southern Coat Company had sales of £730,000. Cost of goods sold, administrative and…
A: Step 1: Net Income: Statement of Comprehensive Income Sales 730,000.00 (-)…
Q: Assume that Taco Bell company reported operating income of $5.15 million, $0.7 million in other…
A: Operating Income Add Other Income Less Other expenses and losses Profit before taxes…
Q: Bolton Corporation had additions to retained earnings for the year just ended of $230,000. The firm…
A: The relation between the closing market price of a share and its book value is known as the…
Q: Nataro, Incorporated, has sales of $676,000, costs of $338,000, depreciation expense of $82,000,…
A: Here, To Find: Net Income =?
Q: For the year, the Bridgewater Co. has net income of $27,400, net new equity of $12,000, and an…
A: Dividend is paid out of net income and income remaining after the dividend is added to retained…
Q: Ziggy Inc., has sales of $817,000 costs of $343,000, depreciation expense of $51,000, interest…
A: Dividend refers to portion of net profit of entity that is shared with common stockholders. It can…
Q: Electronic world inc paid out $24 million in total common dividends and reported $255.6 million of…
A: Net Income of a company is derived after deducting all the cost or expenses of the company along…
Q: sidewinder, Inc., has sales of $678,000, costs of $339,000, depreciation expense of $84,000,…
A: Retained earnings refer to the part of the distributable profit that should not be distributed to…
Q: Griffins Goat Farm, Inc., has sales of $667,000, costs of $329,000, depreciation expense of $73,000,…
A: Earning per share indicates that how much money a company makes for each share. It is calculated by…
Q: TeleLink reports retained earnings at the end of the current year of $32,598 million and retained…
A: Given ÷ Retained earnings at the end of the current year = $32,598 million Retained earnings at the…
Q: A company's total owner's equity at the start of the year was P400,000. The company produced a net…
A: Debt seems to be something, usually money, borrowed by one party from another. Many businesses and…
Q: Griffin's Goat Farm, Inc., has sales of $667,000, costs of $329,000, depreciation expense of…
A: An income statement is a financial report that indicates the revenue and expenses of a business. It…
Q: Boe Company has owners' equity of P400,000 and net income of P66,000. It has a payout ratio of 20%…
A: Calculation: Formula snip:
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- Question 3A businessman has bought the following items for his business uses: Machinery RM100,000Computers RM50,000Pen RM10A4 paper rim RM15Printer cartridge RM20 Required: (iii) State an accounting concept whichever applicable that requires an accounting adjustment in the presentation of financial statements.A2 1g May I please have the answer in formula form and not in excel. Thx:) Use the following information for Delta Corporation to answer question 1: Year 20X1 20X2 Net sales $1,500,000 $1,656,598 Cost of goods sold 675,000 745,469 Depreciation 270,000 298,188 Interest paid 43,600 44,000 Cash 127,500 140,811 Account’s receivable 450,000 496,980 Inventory 525,000 579,809 Net fixed assets 1,800,000 1,987,918 Accounts payable 375,000 414,150 Notes payable 45,000 50,000 Long-term debt 500,000 500,000 Common stock 1,000,000 1,000,000 Retained earnings 982,500 1,241,368 Tax rate 35% 35% Dividend payout 30% 30% Delta has 600,000 common shares outstanding. The firm is projecting a 20% increase in net sales for the coming year (20X3). Delta uses the percentage of sales approach to plan for its financing needs. In using this approach, the firm assumes that cost of…Ex5.21From the following transactions as well as additional data, please complete the entire accountingcycle for Parker’s Plowing201XJan. 1 Parker invested $10,000 cash and $12,000 worth of snow equipment into the plowingcompany.1 Paid rent for six months in advance for garage space, $6,000.4 Purchased office equipment on account from Lumen Corp., $12,600.6 Purchased snow supplies for $800 cash.8 Collected $14,000 from plowing local shopping centers.P a g e 7 | 812 Parker Muroney withdrew $4,000 from the business for his own personal use.20 Plowed Alton Co. parking lots, payment not to be received until May, $1,500.26 Paid salaries to employees, $1,900.28 Paid Lumen Corp. one-half amount owed for office equipment.29 Advertising bill received from Washington Co. but will not be paid until May, $700.30 Paid telephone bill, $130.Adjustment Dataa. Snow supplies on hand, $700.b. Rent expired, $1,000.d. Depreciation on snow equipment, $200: ($12,000/5 yr = $2,400/12 mo. = $200).e. Accrued…
- Book value of fixed assets Apple Inc. designs, manufactures, and markets personal computers and related software. Apple also manufactures and distributes music players (iPod) and mobile phones (iPhone) along with related accessories and services, including online distribution of third-party music, videos, and applications. The following information was taken from a recent annual report of Apple: Property, Plant, and Equipment (in millions): a. Compute the book value of the fixed assets for the current year and the preceding year and explain the differences, if any. b. Would you normally expect Apples book value of fixed assets to increase or decrease during the year?(Quiz 2.2) Please help me answer the last question (multiple choice) if you can, all in bold! Thank you!! UnitsProduced TotalLumberCost TotalUtilitiesCost Total MachineDepreciationCost 7,000 shelves $70,000 $9,550 $135,000 14,000 shelves 140,000 17,600 135,000 28,000 shelves 280,000 33,700 135,000 35,000 shelves 350,000 41,750 135,000 2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs = (Variable Cost Per Unit x N) + Fixed Cost. Complete the following table with your answers. Round variable portion of cost (per unit) answers to two decimal places. Cost Fixed Portionof Cost Variable Portionof Cost (per Unit) Lumber 0 10 Utilities 1500 1.15 Depreciation 135000 0 Question Content Area High-Low Biblio Files Company is the chief competitor of Cover-to-Cover Company in the…52 NOVEMBER 2023 /FIN2203/FIN2063/FIN301 ASSIGNMENT You are required to: i. Select THREE(3) companies in different industries, listed under Bursa Malaysia, and make sure each company that you choose used different policies. Download any financial statement that is relevant for you for this assignment. ii. For each of the company, please identify the following: Permanent Asset Temporary Current Asset Permanent Sources of financing Temporary Sources of financing Spontaneuos Sources of financing iii. From the statements, justify your answer on working capital financing policies adopted by each company. Explain. iv. Assess for each of the companies's: a) Operating cycle. b) Cash conversion cycle. c) Annual savings if the operating cycle is reduced by 10 days.
- Serial Problem Business Solutions LO P1, A1 Selected ledger account balances for Business Solutions follow. For Three MonthsEnded December 31, 2019 For Three MonthsEnded March 31, 2020 Office equipment $ 8,100 $ 8,100 Accumulated depreciation—Office equipment 405 810 Computer equipment 20,000 20,000 Accumulated depreciation—Computer equipment 1,250 2,500 Total revenue 31,334 44,900 Total assets 83,360 121,668 Required:1. Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2020. Compute amounts for the year ended December 31, 2020, for Depreciation expense—Office equipment and for Depreciation expense—Computer equipment (assume use of the straight-line method).2. Given the assumptions in part 1, what is the book value of both the office equipment and the computer equipment as of December 31, 2020?3. Compute the three-month total asset turnover for Business…QUESTION 1: Choicesa. 168,000,000b. 144,000,000c. 184,000,000d. 156,000,000QUESTION 2: Choices a. 92,000,000b. 36,000,000c. 84,000,000d. 68,000,000https://www.chegg.com/homework-help/questions-and-answers/q1-let-us-assume-mr-amir-starts-business-called-amir-enterprises-1st-january-2021-invests--q69973974?fbclid=IwAR2P3PvLU-TV9l2c3UJ1L3iqmf2MoRP-lQpp1m2RE9bHkCPdTkYNenUXFPY
- eBook Check my workCheck My Work button is now disabled1 Item 1 Required information Skip to question Loaded: 0.00% Current Time 1:44 / Duration 10:14 1x Juarez Company acquired $1,200 from the issue of common stock. Which of the following shows how this event will affect the company’s accounting equation? The letters “NA” indicate that the component of the equation is not affectedCompare Amazon.com to Netflix Amazon.com, Inc. (AMZN) is the worlds leading Internet retailer of merchandise and media. Amazon also designs and sells electronic products, such as e-readers. Netflix, Inc. (NFLX) is one of the worlds leading Internet television networks. Both companies compete in the digital media and streaming space. However, Netflix is more narrowly focused in the digital streaming business than is Amazon. Sales and average book value of fixed assets information (in millions) are provided for Amazon and Netflix for a recent year as follows: Amazon.com Netflix Sales 135,987 8,330 Average book value of fixed assets 25,476 212 a. Compute the fixed asset turnover ratio for each company. Round to one decimal place. b. Which company is more efficient in generating sales from fixed assets? c. Interpret your results.A2 1 a Use the following information for Delta Corporation to answer question 1: Year 20X1 20X2 Net sales $1,500,000 $1,656,598 Cost of goods sold 675,000 745,469 Depreciation 270,000 298,188 Interest paid 43,600 44,000 Cash 127,500 140,811 Accounts receivable 450,000 496,980 Inventory 525,000 579,809 Net fixed assets 1,800,000 1,987,918 Accounts payable 375,000 414,150 Notes payable 45,000 50,000 Long-term debt 500,000 500,000 Common stock 1,000,000 1,000,000 Retained earnings 982,500 1,241,368 Tax rate 35% 35% Dividend payout 30% 30% Delta has 600,000 common shares outstanding. The firm is projecting a 20% increase in net sales for the coming year (20X3). Delta uses the percentage of sales approach to plan for its financing needs. In using this approach, the firm assumes that cost of goods sold, all assets (current and fixed), and accounts payable will…