Soft Bound Version for Advanced Accounting 13th Edition
13th Edition
ISBN: 9781260110579
Author: Hoyle
Publisher: McGraw Hill Education
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Chapter 4, Problem 7P
To determine
Identify the appropriate answer for the given statement from the given choices.
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What is the consolidated net income?
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A. 1,068,750
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B. 1,056,250
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C. 1,033,750
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D. 1,045,625
How much is the consolidated profit in 2021?A. 301,000B. 336,000C. 310,000D. 320,000
What amount should be reported as adjusted net income for the current year?
a. 6,250,000
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b. 9,500,000
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c. 8,000,000
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d. 8,750,000
Chapter 4 Solutions
Soft Bound Version for Advanced Accounting 13th Edition
Ch. 4 - Prob. 1QCh. 4 - Atwater Company acquires 80 percent of the...Ch. 4 - What is a control premium and how does it affect...Ch. 4 - Prob. 4QCh. 4 - How is the noncontrolling interest in a subsidiary...Ch. 4 - Prob. 6QCh. 4 - Prob. 7QCh. 4 - Prob. 8QCh. 4 - Prob. 9QCh. 4 - Prob. 10Q
Ch. 4 - Prob. 1PCh. 4 - Prob. 2PCh. 4 - Prob. 3PCh. 4 - Prob. 4PCh. 4 - Prob. 5PCh. 4 - Prob. 6PCh. 4 - Prob. 7PCh. 4 - Assuming that Pride, in its internal records,...Ch. 4 - Prob. 9PCh. 4 - Prob. 10PCh. 4 - Prob. 11PCh. 4 - Prob. 12PCh. 4 - Prob. 13PCh. 4 - Prob. 14PCh. 4 - Prob. 15PCh. 4 - Prob. 16PCh. 4 - Prob. 17PCh. 4 - Prob. 18PCh. 4 - Current liabilities: a. 50,000 b. 46,000 c. 40,000...Ch. 4 - Prob. 20PCh. 4 - Stockholders equity: a. 80,000 b. 90,000 c. 95,000...Ch. 4 - Prob. 22PCh. 4 - Prob. 23PCh. 4 - Prob. 24PCh. 4 - Prob. 25PCh. 4 - Prob. 26PCh. 4 - Prob. 27PCh. 4 - Prob. 28PCh. 4 - Prob. 29PCh. 4 - Prob. 30PCh. 4 - Prob. 31PCh. 4 - Prob. 32PCh. 4 - Prob. 33PCh. 4 - Prob. 34PCh. 4 - Prob. 35PCh. 4 - Prob. 36PCh. 4 - Prob. 37PCh. 4 - Prob. 38PCh. 4 - Prob. 39PCh. 4 - Prob. 40PCh. 4 - Prob. 41PCh. 4 - Prob. 42PCh. 4 - Prob. 43PCh. 4 - Prob. 44PCh. 4 - Prob. 1DYSCh. 4 - Prob. 2DYSCh. 4 - Costco Wholesale Corporation owns and operates...
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- Income Statement for Year Ended December 31, 2018 (Millions of Dollars) Net sales 795.0 Cost of goods sold 660.0 Gross profit 135.0 Selling expenses 73.5 EBITDA 61.5 Depreciation expenses 12.0 Earnings before interest and taxes (EBIT) 49.5 Interest expenses 4.5 Earnings before taxes (EBT) 45.0 Taxes (40%) 18.0 Net income 27.0 a. Calculate the ratios you think would be useful in this analysis. b. Construct a DuPont equation, and compare the companys ratios to the industry average ratios. c. Do the balance-sheet accounts or the income statement figures seem to be primarily responsible for the low profits? d. Which specific accounts seem to be most out of line relative to other firms in the industry? e. If the firm had a pronounced seasonal sales pattern or if it grew rapidly during the year, how might that affect the validity of your ratio analysis? How might you correct for such potential problems?arrow_forwardPrince Corporations accounts provided the following information at December 31, 2019: What should be the current balance of retained earnings? a. 520,000 b. 580,000 c. 610,000 d. 670,000arrow_forwardWhat amount should be reported as adjusted net income for the current year? 6,250,000 Â 9,500,000 Â 8,000,000 Â 8,750,000arrow_forward
- What amount was reported as net income for the current year? a. 6,200,000  b. 9,700,000  c. 8,200,000  d. 7,700,000arrow_forwardthe following information is provided for Northwest company. net income 2022     $165 net sales 2022.      $1,650 total assets 12/31/20  $1,000 total assets 12/31/21  $1,050 total assets 12/31/22  $1,150 What is Northwest's return on assets for 2022? a. 150.0% b. 15.7% c. 15.0% d. 14.3%arrow_forwardThe amount of gross profit to appear on the income statement for the period ended 2019 is: a. (330,000) b. (441,000) c. (2,920,000) d. (100,000) Please refer to the picture below to answer the question.arrow_forward
- how did you get these numbers ?  Year 2022: Weighted-Average accumulated expenditure Date Amount Capitalization period Weighted Average Accumulated Expenditures 1-Jan-22 $8,100,000 9/9 $8,100,000 31-Jan-22 $450,000 8/9 $400,000 30-Apr-22 $783,000 5/9 $435,000 31-Aug-22 $1,080,000 1/9 $120,000 Total $10,413,000  $9,055,000arrow_forwardX Company collected P12,350 in interest during 2019. X showed P1,850 in interest on its December 31, 2021 statement of financial position and P5,300 on December 31, 2020. How much is the Interest Revenue to be reported on X’s statement of comprehensive income in 2021?arrow_forwardHow much is the gross profit realized in 2019? A. P1,600,000  B. P1,350,000  C. P500,000  D. P250,000arrow_forward
- Return on total assets ratio: net income/ average total assets 21,331/(321,195+225,248)/2= 0.07807= 7.8% (2020 year) 11588/(162,648+225,248)/2= 0.059= 6.0% (2019 year) Write financial analysis report.arrow_forwardHow much is the total gross income? a. 1,320,000 b. 1,400,000 c. 1,470,000 d. 1,550,000arrow_forward39 Atlanta Corporation, a domestic corporation, had the following data for the years 2022 and 2023:   2022  2023 Sales  P        10,000,000  P        15,000,000 Cost of sales  4,000,000  6,000,000 Deductible expenses  6,100,000  7,000,000 Capital gains  50,000  100,000 Interest income on trade notes receivable  10,000  30,000 Rent income  430,000  600,000 Total assets  500,000,000  550,000,000  How much is the total deferred charges in 2023?arrow_forward
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