Smith Wesson Net income $10,000 $100,000 Net sales 50,000 400,000 Calculate the profit margin ratio for each company.
Q: Juan, who is single, is a self-employed carpenter as well as an e His self-employment net income is…
A: Self Employment Tax The federal government collects taxes from self-employed workers and small…
Q: 1. Mr. J. Cruz is the owner of a small variety store. His gross sales la any one year do not exceed…
A: The percentage tax due is : 450,000*.03% = 13,500 ( Merchandise Inventory and Purchases from…
Q: Skysong Company reports the following costs and expenses in May. Factory utilities $14,200…
A: Product Costs mean the costs incurred directly or indirectly related to the production of a product.…
Q: an Clemente Inc. incurs the following costs to produce 10,000 units of a subcomponent: Direct…
A: Lets understand the basics. When there is option between make or buy then management always choose a…
Q: The following transactions occurred during February, affecting your A/R ledger account for Johnny…
A: When a customer purchases the goods on credit, he or she owes an amount to the firm. Accounts…
Q: The following list of account balances were extracted from the accounting records of Don's…
A: Statement of profit and loss and other comprehensive income is a financial statement summarizing the…
Q: 17. A start-up company that makes hydraulic seals borrowed $800000 to expand its packaging and…
A: Solution Concept Introduction to time value of money Time value of money is used to compare the…
Q: If P850,000 of cash was distributed by the partnership, compute for the following: 1. Problem 3 -…
A: Partnership means a group of persons who come together with a purpose to control and manage the…
Q: 1. One aspect that partnership differs from sole proprietorship is the plurality of capital and…
A: Partnership is a form of business in which two or more persons come together and operate a business.…
Q: Question Your investigation of Samsung Corp.’s various non-current asset transactions for 2021…
A: The franchise is a method used for marketing by big brands under which the franchisee uses the brand…
Q: A corporation has a taxable income of $2,302,253. At this income level, the federal income rate is…
A: Given data:- Federal income tax rate=49%state tax rate=20%Local tax rate=13%Total taxable income -…
Q: Explain the First-In, First-Out (FIFO) method used for determining COGS and Ending Inventory cost.
A: FIFO Method of Inventory Valuation
Q: d. Assets minus liabilities. e. The financial statement indicating the profitability of the business…
A: Solution:- d) Discussion of term Asset minus Liabilities as follows under:-
Q: Consider the following data: RECEIVED ISSUED 1-Apr| 20 units @ P 5.00 each 5-Apr 10-Apr 60 units @ P…
A: Using moving average method, average cost per unit is calculated after every sale and purchase.
Q: Comparative financial statement data for Carmono Company follow: This Year Last Year…
A: Statement of Cash Flow - Statement of Cash Flow shows the movement of cash for the financial year.…
Q: You are reviewing the inventories of Sheep-Ahoy Company and found the following items: In the…
A: The inventory held on date shall include all the physical inventory held by the company.
Q: Precious Realty Corporation owns and holds several property items that are held for sale as…
A:
Q: When a dividend is declared and paid in stock * Choices; stockholders' equity does not change.…
A: Stock dividends are distributions to shareholders that companies make when they do not wish to…
Q: Listed below are activities for Stellar Services Ltd. for the month of January, 2016: a. Stellar…
A: Journal Entry The purpose of providing the journal entry to enter the required transaction into…
Q: The following information is available for Zhang Company: Item Units Beginning inventory p00 Unit…
A: Solution.. Total costs of goods available for sale = $2,840 Total units available for sale =…
Q: Amy and Mitchell share equally (50%) in the profits, losses, and capital of the accrual basis AM…
A: LLC interest means the entire ownership or membership interest in a limited liability company. Such…
Q: Record Journal Entries
A: Journal entries are those entries which a company have to record on the book of original entries.…
Q: )How much is the investment balance to be presented byJJCin December 31, 2023? d)How much is the…
A: On January 1, 2022, JJC acquired 30% of Chiyo Company’s voting shares for P10,000,000. Half of the…
Q: Inventory 240,000 138,000 Equipment 322,000 240,000 Accounts payable 200,000 200,000 Notes payable…
A: To find the profit distribution table, T accounts and the statement in partner's equity as,
Q: Let’s assume that you plan to purchase a house which is selling for $350,000 today. You will make a…
A: Formulas that are used:-
Q: Please calculate capital allowance using declining balance method with the following information:…
A: In the context of the given question, we compute the allowances at the rate applying to the…
Q: ou invested $5,000 into a certificate of deposit (CD) today and agreed to leave it in the CD for the…
A: Future Value Future value is what a sum of money invested today will become over time, at a rate of…
Q: balance in his capital account may
A: Partnership is a relationship between the two or more persons who are sharing profit of the business…
Q: Walberg Associates, antique dealers, purchased goods for $38,100. Terms of the purchase were FOB…
A: Cost of inventory includes the cost of purchase material/goods, freight, and any taxes paid by the…
Q: Trumpet and Trombone Manufacturing, Inc. began the year with a retained earnings balance of…
A: Introduction: Retained Earnings : Retained Earnings are share holders funds. Retained earnings…
Q: Two online travel companies, E-Travel and Pricecheck, provide the following selected financial…
A: Solution:- 1-a)Calculation of the debt to equity ratio for E-Travel and Price check as follows…
Q: Exercise 2 The balance sheet of the Omar, Paolo, and Quek partnership on November 1, 2016 (before…
A: Liquidation of Partnership firm: Liquidation of dissolution of the Partnership Firm means…
Q: Herman Swayne is a waiter at the Dixie Hotel. In his first weekly pay in March, he earned $360.00…
A: Net pay is the final pay after taking into consideration all the deductions. The calculation is…
Q: Harlander Corporation leased industrial equipment to American Manufacturing on January 1, 2019. The…
A: A loan amortization schedule is a comprehensive table of periodic loan payments that shows the…
Q: During its first year of operations, Sheridan Company had credit sales of $3,596,600; $660,700…
A: Net realizable value of accounts receivable = Ending Accounts Receivable balance - Allowance for…
Q: Lindy Company's auditor discovered several errors. No errors were corrected during 2020. The errors…
A: Prepaid insurance means the insurance amount is paid in advance. Adjustment of prepaid insurance…
Q: Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented…
A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: Selected current year-end financial statements of Genesis Corporation follow. All sales were on…
A: A series of high-level reports that describe a company's monetary performance, financial position,…
Q: nth of sale month after month of sale ond month after month of sale month after month of sale unt…
A: Working
Q: Borland, Inc., has a profit margin of 6.5 percent on sales of $22,600,000. Assume the firm has debt…
A: Formula: ROA = ( Net profit / Total Assets ) x 100
Q: Using the Cost Driver rate determined above allocate overhead to the departments and determine the…
A: Safari company produces customized row boats. It follows job order costing system. It operates two…
Q: on Stock ed Eamings ance for Uncollectible Accounts Revenue of Goods Sold ebt Expense es Expense
A: Adjusted trial balance refers to the type of trial balance that lists all the ending balances of all…
Q: The bank statement for Farmer Co. indicates a balance of $7,735 on June 30. After the journals for…
A: Bank reconciliation statement is prepared by the management at a particular time period. It helps to…
Q: The cost of land usually includes all of the following except a. commission related to acquisition…
A: Cost of land is the value of the land and the enhancements made to the land. The detailed…
Q: The following balances were extracted from the books of Chanda at 31/12/19…
A: To calculate above ratios, first we have to prepare the Profit & loss statement and Balance…
Q: Unruh, Grey, and Carter are partners with capital balances of P80,000, P200,000, and…
A: "Since you have asked multiple questions, we will solve first question for you. If you want any…
Q: Sup has paid a dividend of $3.82 per share per year for the last 16 years. Management expects to…
A: In the context of the given question, we compute the required figures by using the Dividend price…
Q: Problem 13-7 (Algo) Prepare a Statement of Cash Flows [LO13-1, LO13-2] Skip to question [The…
A: The cash flow statement is prepared to record the cash flow from various activities during the…
Q: Problem 18 (Profitability Ratios) a. Alpha Industries had an asset turnover of 1.4 times per year.…
A: solution introduction asset turnover ratio =net sales / average total assets return on total…
Q: Presented below are relevant extracts from Tank Corporation’s statement of financial position as of…
A: The following important points explain the adjustment to be done to arrive at the required adjusted…
Trending now
This is a popular solution!
Learn your way
Includes step-by-step video
Step by step
Solved in 2 steps
- The following information relates to Paterno Company: Sales revenue $10,000,000Contribution margin 4,000,000Net income 1,000,000If a manager at Paterno desired to determine the percentage impact on net income of a given percentage change in sales, the manager would multiply the percentage increase/decrease in sales revenue by: A) 0.25. B) 0.40. C) 2.50. D) 4.00. E) 10.00.Peace Inc. has the following information: Sales P 480,000 Operating expenses 300,000 Net loss (60,000) How much is Peace Inc.'s gross profit if its gross profit is 50% based on sales?A. 260,000B. 180,000C. 240,000D. 280,000Problem 9-13 Two firms have sales of $1.5 million each. Other financial information is as follows: FirmABEBIT$290,000$290,000Interest expense 40,000 55,000Income tax 60,000 35,000Debt 2,440,000 3,330,000Equity 1,360,000 1,670,000 What are the operating profit margins and the net profit margins for these two firms? Round your answers to two decimal places. Operating profit margins: Firm A: % Firm B: % Net profit margins: Firm A: % Firm B: % What are their returns on assets and on equity? Round your answers to two decimal places. Return on assets: Firm A: % Firm B: % Return on equity: Firm A: % Firm B: %
- 1. ABC Co. has the following information: 20x1 20x2Installment sales ? ?Cost of sales 600,000 660,000Installment receivable - 20x1 600,000 400,000Installment receivable - 20x2 720,000Gross profit rates based on sales 40% 45% How much is the total realized gross profit in 20x2?If Net sales $200,000, Cost of goods sold 90,000, Operating expenses 80,000, Net income10,000, Total assets 180,000, Total liabilities 120,000, Cash flow from operating activities 5,000, Happy Valley's operating profit margin is: Operating Income/Net sales Select one: a. 40% b.5% c. 55% d. 15%sales = $10,200 net income $1000 total assets 12,000 ROE 10% Gross Margin 20% the firm would like to improve it's ROE to 15% A. what specific actions might they take to achieve? B use the dupont formula to show how they can achieve target ROE of 15%
- 11. Use the information below provided by Angel Baby Angel Company: Sales 8,250,000.00 Operating costs 4,725,000.00 Operating income 3,525,000.00 Interest expense 1,750,000.00 Earnings before taxes 1,775,000.00 Taxes (40%) 621,250.00 Net income 1,153,750.00 WACC = 8%, Total invested capital 24,875,000. Calculate the EVA. (2 decimal places) Refer to Angel Baby Angel Company, what is its Return on Invested Capital? Use 2 decimal places in your final answer. Express in percentageI'm trying to see what am I doing wrong on this spreadshit: Year 1 Year 2 Year 3 Year 4 $ % $ % $ % $ % Net sales $500,000.00 100.00% 540,000.00 100.00% 577,800.00 100.00% 612,468.00 100.00% Cost of goods 265,000.00 Gross margin 235,000.00 Operating expenses 210,000.00 Operating profit 25,000.00Sales revenue 476 800 purchase 412 800 gross profit 64 000 selling expenses 20 000 admin cost 7 200 operating profit 36 800 questions: 1) if a company has a markup of 23% and a sales revenue of £130,597, then what is the cost of sales in whole £'s? 2) if a company has a net margin of 50%, gross margin of 66.67% and the costs of sale of £150,000, then what is the sales revenue and overhead?
- Peace Inc. has the following information: Sales P 480,000 Operating expenses 300,000 Net loss (60,000) How much is the entity's cost of sales? A. 340,000B. 360,000C. 240,000D. 420,00057) Overcharge Card reports that following amounts: Sales = $3,000,000; Cost of GoodsSold = $1,200,000; Depreciation Expense = $140,000; Administrative Expense =$270,000; Interest Expense = $70,000; Marketing Expense = $60,000; and Taxes=$80,000. What is Overcharge’s operating income?Problem 9-13 Two firms have sales of $0.9 million each. Other financial information is as follows: Firm A B EBIT $ 190,000 $ 190,000 Interest expense 30,000 85,000 Income tax 65,000 10,000 Debt 1,340,000 850,000 Equity 560,000 730,000 What are the operating profit margins and the net profit margins for these two firms? Round your answers to two decimal places. Operating profit margins: Firm A: % Firm B: % Net profit margins: Firm A: % Firm B: % What are their returns on assets and on equity? Round your answers to two decimal places. Return on assets: Firm A: % Firm B: % Return on equity: Firm A: % Firm B: %