XYZ Inc. had the following figures in its Income Statement: (please show solution) Sales Php 920,000.00 Cost of Goods Sold Php 320,000.00 Other Income Php 50,000.00 Salaries Php 220,000.00 Advertising Php 100,000.00 Rent Php 80,000.00 Other Expenses Php 50,000.00 How much is the income/loss? Kindly indicate if your answer is income or loss.

XYZ Inc. had the following figures in its Income Statement: (please show solution) Sales Php 920,000.00 Cost of Goods Sold Php 320,000.00 Other Income Php 50,000.00 Salaries Php 220,000.00 Advertising Php 100,000.00 Rent Php 80,000.00 Other Expenses Php 50,000.00 How much is the income/loss? Kindly indicate if your answer is income or loss.

Name: XYZ Inc. had the following figures in its Income Statement: (please sh
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: XYZ Inc. had the following figures in its Income Statement: (please show solution) Sales Php 920,000.00Cost of Goods Sold Php 320,000.00Other Income Php 50,000.00Salaries Php 220,000.00Advertising Php 100,000.00Rent Php 80,000.00Other Expenses Php 50

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

See similar textbooks

Similar questions

The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000
Presented below are the components in Jane Company's income statement. Determine the missing amounts. Sales Cost of Goods Sold Gross Profit Operating Expenses Net Income (a) Php 750,000 ? Php 435,000 ? Php 108,000 (b) Php 1,080,000 Php 650,000 ? ? Php 295,000 (c) ? Php 719,000 Php 1,096,000 Php 395,000 ?
Gross profit of Happy Joy Ride amounted to Php175,000. Net Sales is Php300,000, compute for cost of goods sold? 2. Joy Ride Company's salaries to sales agents amounted to Php10,000. Salaries of accountants amounted to Php20,000. No other expenses were incurred. How much is the company's general and administrative expense?
Given the following information, prepare an income statement for Jonas Brothers Cough Drops. Note: Input all your answers as positive values. Selling and administrative expense $ 301,000 Depreciation expense 198,000 Sales 2,050,000 Interest expense 128,000 Cost of goods sold 521,000 Taxes 167,000
Answer this questions: 1. If the revenue is Php 94,810 and total expenses are Php 80,537, what is the net income? 2. If sales are equal to Php 600,480 and the costs of goods sold is equal to Php 374,789, what is the gross profit/margin? 3. If the company B has Php 1.048,150 liabilities, how much is its equity? 4. Given the following information, compute for the operating profit/margin: GROSS SALES: Php 600,480 COSTS OF GOODS SOLD: Php 374,789 TOTAL OPERATING EXPENSES: Php 132,916 5. A company's total investements Php 1,500,000. If Return on Investments is 35% , how much is the net profit after taxes?
Pharoah Company had the following account balances: Sales revenue $ 447000 Cost of goods sold 210000 Salaries and wages expense 30500 Depreciation expense 59500 Dividend revenue 10000 Utilities expense 22000 Rent revenue 58500 Interest expense 35500 Sales returns and allow. 33500 Advertising expense 38000 What would Pharoah report as total expenses in a single-step income statement? $429k $185500 $405500 $395500
RJ Garcia Sound had sales of P600,000 and sales returns of P80,000. Cost of goods sold was P320,000 and Operating expenses was P50,000. How much gross profit did RJ Garcia Sound report?
nancial information for two companies are presented below. Fill in the missing amounts. Sheffield Corp. Tamarisk, Inc. Sales revenue $100,000 $enter a dollar amount Sales returns and allowances enter a dollar amount 6,000 Net sales 94,000 116,000 Cost of goods sold 64,860 enter a dollar amount Gross profit enter a subtotal of the two previous amounts 38,280 Operating expenses 16,920 enter a dollar amount Net income enter a total net income 17,400 eTextbook and Media Calculate the profit margin and the gross profit rate for each company. (Round answers to 0 decimal places, e.g. 15%.) Sheffield Corp. Tamarisk, Inc. Profit margin enter percentages rounded to 1 decimal place % enter percentages rounded to 1 decimal place % Gross profit rate enter percentages rounded to 1 decimal place % enter percentages rounded to 1 decimal place %
Fairplay had the following information related to the sale of its products during 2009, which was its fi rst year of business: Revenue $1,000,000 Returns of goods sold $ 100,000 Cash collected $ 800,000 Cost of goods sold $ 700,000 Under the accrual basis of accounting, how much net revenue would be reported on Fairplay’s 2009 income statement? C . $1,000,000.
Fairplay had the following information related to the sale of its products during 2009, which was its fi rst year of business: Revenue $1,000,000 Returns of goods sold $ 100,000 Cash collected $ 800,000 Cost of goods sold $ 700,000 Under the accrual basis of accounting, how much net revenue would be reported on Fairplay’s 2009 income statement? A . $200,000.
Please help with all the calculations and answer The 2016 income statement for J.Galarraga Corporation is below: Revenues $ 14,000,000Cost of Goods Sold 6,500,000Gross Margin $ 7,500,000Selling Expenses 3,400,000Administrative Expenses 700,000Net Operating Income $ 3,400,000 The company's margin of safety is $8,500,000. What would our revenues need to be to earn the NOI of $5,100,000?A. $ 16,300,000B. $ 19,750,000C. $ 18,250,000D. $ 15,700,000E. None of the above
BB Company is merchandising business that sells goods in different parts of the country. The following summarized the transaction of BB during the year: Sales P540,000 Rent income 30,000 Interest income 10,000 Gain on sale of machinery 12,000 Cost of sales 200,000 Rent expense 100,000 Insurance expense 30,000 Depreciation expense 40,000 Loss on sale of equipment 15,000 Foreign exchange translation loss 20,000 Revaluation surplus 40,000 How much is the total income?