Income Statement Assignment Ramona Rancher has an accounting period from January 1st to December 31st ....
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Income Statement Assignment
Ramona Rancher has an accounting period from January 1st to
December 31st ....
Income Statement Assignment Ramona Rancher has an accounting period from January 1st to December 31st ....
Income Statement Assignment Ramona Rancher has an accounting period from January 1st to December 31st . Use the following information to complete an income statement for Ramona and evaluate the income statement. Inventory Values January 1st 2018 December 31st 2018 Crops $32,850 $27,440 Livestock $17,600 $29,500 Revenue and Expenses Depreciation $26,700 Crop sold $169,800 Feed Purchased $19,800 Insurance $3,800 Prop. Taxes $3,400 Interest paid $36,400 Misc. Expenses $4,800 Feeder livestock Purchased $46,500 Market Livestock sold $81,660 Seed purchased $6,240 Repairs...
Use the following information to calculate the requested Income Statement metrics. Net Farm Income $36,000 Opportunity...
Use the following information to calculate the requested Income Statement metrics. Net Farm Income $36,000 Opportunity Cost of Labor $16,000 Average Equity $220,000 Opportunity Cost of Management $8,000 Average Asset Value $360,000 Family Living Expenses $20,000 Interest Expense $11,000 Income and SS taxes $4,000 Total Revenue $109,500 Opportunity Cost of Capital 10% a. Rate of Return on Assets b. Rate of Return on Equity c. Operating Profit Margin Ratio d. Change in Equity e. Return to Management
Problem #2 Use the following information to calculate the requested Income Statement metrics. Net Farm Income...
Problem #2 Use the following information to calculate the requested Income Statement metrics. Net Farm Income $36,000 Opportunity Cost of Labor Average Equity $220,000 Opportunity Cost of Management Average Asset Value $360,000 Family Living Expenses Interest Expense $11,000 Income and SS taxes Total Revenue $109,500 Opportunity Cost of Capital a. Rate of Return on Assets b. Rate of Return on Equity c. Operating Profit Margin Ratio d. Change in Equity e. Return to Management $16,000 $8,000 $20,000 $4,000 10%
Credit 405 75 2300 200 3200 Adjusted Trial Balance December 31st, 2019 Debit Cash 126587 Accounts...
Credit 405 75 2300 200 3200 Adjusted Trial Balance December 31st, 2019 Debit Cash 126587 Accounts receivable 13500 Allowance for uncollectible accounts Interest receivable Supplies 1800 Prepaid insurance 5500 inventory 5328 Notes receivable 15000 Buildings 62000 Gain Accumulated depreciation Accounts payable Deferred revenue 3480 Salaries payable Income tax payable Warranty liability Notes payable Common stock Dividends 1600 Service revenue Sales revenue Sales discounts Interest revenue Bad debt expense 405 Cost of goods sold 17280 Depreciation expense 500 Income tax expense...
Adjusted Trial Balance December 31st 2019 Debit Credit Cash 126587 Accounts receivable 13500 Allowance for uncollectible...
Adjusted Trial Balance December 31st 2019 Debit Credit Cash 126587 Accounts receivable 13500 Allowance for uncollectible accounts 405 Interest receivable 75 Supplies Prepaid insurance inventory Notes receivable 1800 5500 5328 15000 Buildings Gain 62000 2300 Accumulated depreciation Accounts payable Deferred revenue 200 3200 3480 Salaries payable Income tax payable Warranty liability Notes payable 1200 3700 450 113670 Common stock 96000 Dividends 1600 Service revenue 7830 Sales revenue 36000 Sales discounts 150 75 Interest revenue Bad debt expense Cost of goods...
Income statement and the net worth (balance sheet) statement Net Income Statement Name: Grumpy Farms Year:...
Income statement and the net worth (balance sheet) statement Net Income Statement Name: Grumpy Farms Year: 2018 $293,328 283,815 577,143 Cash farm income Corn Sales Hog Sales Gross Cash farm income Inventory changes* Corn Total inventory change Gross farm revenue 21.850 21,850 $598,993 $367,800 53.000 Cash farmexpenses Depreciation Total operating expenses Total interest expense Total expenses $420,800 $39.000 $459,800 Net farm income from operations (NFIO) $139,193 Capital Adjustments Machinery (sold tractor) Net Farm Income (NFI) $151,693 $45,000 Note: the unpaid...
Average Joe's Gym Income Statement For the Year Ended December 31st 2013 2014 2,975,990 2,575,990 1,368,955...
Average Joe's Gym Income Statement For the Year Ended December 31st 2013 2014 2,975,990 2,575,990 1,368,955 1,184,955 1,607,035 1,391,035 Sales Cast of Sales Gross Profit Expenses 125,490 155,490 Amortization 134,500 102,800 175,680 155,600 General and Administrative Marketing and Sales Interest Expense 96,090 76,820 295,980 255,000 315,000 Office Expense Wages and Benefits, Administration Total Operating Expenses 315,000 1,153470 1,049,980 453,565 341,055 Operating Income Gain (loses) on marketable securities Impairment los on capital assets ncome joss before taxes Provision for (benefit from)...
Scruggs Inc. Income Statement For the Year Ended December 31, 2018 Sales 1,500,000 Cogs 850,000 Gross...
Scruggs Inc. Income Statement For the Year Ended December 31, 2018 Sales 1,500,000 Cogs 850,000 Gross profit 650,000 Operating expenses 90,000 Depreciation expense 70,000 Depletion expense 7,500 Amortization expense 2,500 Operating income 480,000 Loss on sale of stock (6,500) Gain on sale of bonds 12,000 Gain on sale of equipment 5,000 Interest expense (3,500) Income tax expense (12,500) Net income 474,500 Prepare a full statement of cash flows using the indirect method. Prepare the operating section of the statement of...
Dudley Bank has the following balance sheet and income statement. page 412 Income Statement Interest on...
Dudley Bank has the following balance sheet and income
statement.
page 412
Income Statement
Interest on fees and loans $6,715
Interest on repurchase agreements 143
Interest on other investment securities 1,705
Interest on deposits in banks 60
Total interest income $8,623
Interest on deposits 3,018
Interest on debentures 1,140
Total interest expense $4,158
Net interest income $4,465
Provision for loan losses 200
Noninterest income. 950
Noninterest expenses 1,720
Income before taxes $3,495
Taxes 1,220
Net income 2275. For Dudley Bank,...
Megalopolis Bank has the following balance sheet and income statement Assets Cash and due from banks...
Megalopolis Bank has the following balance sheet and income statement Assets Cash and due from banks Investment securities Repurchase agreements Loans Fixed assets Other assets Balance Sheet (in millions) Liabilities and Equity $ 10,000 Demand deposits 33,000 NOW accounts 52,000 Retail CDs 100.000 Debentures 25,000 Total liabilities 5,000 Common stock Paid-in capital Retained earnings $225,000 Total liabilities and equity $ 29,000 99,000 38.000 29,000 $195,000 12,000 4,000 14,000 $225,000 Total assets Income Statement Interest on fees and loans Interest on...
Problem #2 Use the following information to calculate the requested Income Statement metrics. Net Farm Income $36,000 Opportunity Cost of Labor Average Equity $220,000 Opportunity Cost of Management Average Asset Value $360,000 Family Living Expenses Interest Expense $11,000 Income and SS taxes Total Revenue $109,500 Opportunity Cost of Capital a. Rate of Return on Assets b. Rate of Return on Equity c. Operating Profit Margin Ratio d. Change in Equity e. Return to Management $16,000 $8,000 $20,000 $4,000 10%
Credit 405 75 2300 200 3200 Adjusted Trial Balance December 31st, 2019 Debit Cash 126587 Accounts receivable 13500 Allowance for uncollectible accounts Interest receivable Supplies 1800 Prepaid insurance 5500 inventory 5328 Notes receivable 15000 Buildings 62000 Gain Accumulated depreciation Accounts payable Deferred revenue 3480 Salaries payable Income tax payable Warranty liability Notes payable Common stock Dividends 1600 Service revenue Sales revenue Sales discounts Interest revenue Bad debt expense 405 Cost of goods sold 17280 Depreciation expense 500 Income tax expense...
Adjusted Trial Balance December 31st 2019 Debit Credit Cash 126587 Accounts receivable 13500 Allowance for uncollectible accounts 405 Interest receivable 75 Supplies Prepaid insurance inventory Notes receivable 1800 5500 5328 15000 Buildings Gain 62000 2300 Accumulated depreciation Accounts payable Deferred revenue 200 3200 3480 Salaries payable Income tax payable Warranty liability Notes payable 1200 3700 450 113670 Common stock 96000 Dividends 1600 Service revenue 7830 Sales revenue 36000 Sales discounts 150 75 Interest revenue Bad debt expense Cost of goods...
Income statement and the net worth (balance sheet) statement Net Income Statement Name: Grumpy Farms Year: 2018 $293,328 283,815 577,143 Cash farm income Corn Sales Hog Sales Gross Cash farm income Inventory changes* Corn Total inventory change Gross farm revenue 21.850 21,850 $598,993 $367,800 53.000 Cash farmexpenses Depreciation Total operating expenses Total interest expense Total expenses $420,800 $39.000 $459,800 Net farm income from operations (NFIO) $139,193 Capital Adjustments Machinery (sold tractor) Net Farm Income (NFI) $151,693 $45,000 Note: the unpaid...
Average Joe's Gym Income Statement For the Year Ended December 31st 2013 2014 2,975,990 2,575,990 1,368,955 1,184,955 1,607,035 1,391,035 Sales Cast of Sales Gross Profit Expenses 125,490 155,490 Amortization 134,500 102,800 175,680 155,600 General and Administrative Marketing and Sales Interest Expense 96,090 76,820 295,980 255,000 315,000 Office Expense Wages and Benefits, Administration Total Operating Expenses 315,000 1,153470 1,049,980 453,565 341,055 Operating Income Gain (loses) on marketable securities Impairment los on capital assets ncome joss before taxes Provision for (benefit from)...
Dudley Bank has the following balance sheet and income
statement.
page 412
Income Statement
Interest on fees and loans $6,715
Interest on repurchase agreements 143
Interest on other investment securities 1,705
Interest on deposits in banks 60
Total interest income $8,623
Interest on deposits 3,018
Interest on debentures 1,140
Total interest expense $4,158
Net interest income $4,465
Provision for loan losses 200
Noninterest income. 950
Noninterest expenses 1,720
Income before taxes $3,495
Taxes 1,220
Net income 2275. For Dudley Bank,...
Megalopolis Bank has the following balance sheet and income statement Assets Cash and due from banks Investment securities Repurchase agreements Loans Fixed assets Other assets Balance Sheet (in millions) Liabilities and Equity $ 10,000 Demand deposits 33,000 NOW accounts 52,000 Retail CDs 100.000 Debentures 25,000 Total liabilities 5,000 Common stock Paid-in capital Retained earnings $225,000 Total liabilities and equity $ 29,000 99,000 38.000 29,000 $195,000 12,000 4,000 14,000 $225,000 Total assets Income Statement Interest on fees and loans Interest on...
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