The following amounts appeared in the accounting records of XYZ Inc. for the year: Operating expenses $40000 Net income $6000 Interest expense $40000 Dividends paid $25000 Income tax expense $40000 Deferred revenue $50000 There were no other expenses. What was XYZ Inc.'s sales for the year? Your Answer:

The following amounts appeared in the accounting records of XYZ Inc. for the year: Operating expenses $40000 Net income $6000 Interest expense $40000 Dividends paid $25000 Income tax expense $40000 Deferred revenue $50000 There were no other expenses. What was XYZ Inc.'s sales for the year? Your Answer:

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter2: Analyzing Transactions

Section: Chapter Questions

Problem 23E: The following data (in millions) are taken from the financial statements of Target Corporation: a....

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The following data (in millions) are taken from the financial statements of Target Corporation: a. For Target Corporation, determine the amount of change in millions and the percent of change (round to one decimal place) from the prior year to the recent year for: 1. Revenue 2. Operating expenses 3. Operating income b. What conclusions can you draw from your analysis of the revenue and the total operating expenses?
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Helo Company has provided the following data: Sales, P5,000,000; Interest expense, P30,000; Total assets, beginning of the year, P185,000; Total assets, end of the year, P215,000; Return on assets, 15.5%; Tax rate, 30%. What is the net income of Helo Co.? show solutions