Homework Answers
| Sales | 125,000 |
| Less:cost of goods sold | 85,000 |
| Less:operating expenses | 22,000 |
| Less:interest expense | 2000 |
| Less:tax expense | 3000 |
| Net income | $13,000 |
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Using the information below, compute the net income of the company: $2,000 Interest expense Operating expenses...
From the problem below, identify which ones are operating assets, operating liabilities, operating revenues and operating...
From the problem below, identify which ones are operating assets, operating liabilities, operating revenues and operating expenses. Income Statement 2018 2017 Sales Revenue $180,000 $165,000 Cost of Goods Sold 110,000 100,000 Gross Profit 70,000 65,000 Operating expenses 53,300 50,400 Interest expense 2,700 2,600 Income before income tax 14,000 12,000 Income tax expense 4,000 3,000 Net Income $10,000 $9,000 Balance Sheet 2018 2017 Cash $22,000 $16,000 Accounts Receivable (net) 19,000 17,000 Investments (short-term) 3,000 5,000 Inventory 34,000 30,000 Prepaid Expenses 2,000...
Calculate Net Income or Net Loss, follow the format of a multiple step income statement. S/T...
Calculate Net Income or Net Loss, follow the format of a multiple step income statement. S/T = Short Term L/T = Long Term Common Stock (13,000 shares outstanding) $52,000 Accrued Expenses (Payables) 20,000 Miscellaneous Operating Expenses 50,000 Accounts Receivable 20,000 Buildings 186,000 Retained Earnings ??????? Wages Expense 60,000 Inventory 40,000 Accumulated Depreciation - Buildings 48,000 Accounts Payable 41,000 Gain on Sale of Equipment 62,000 Land 50,000 Bad Debt Expense 2,000 L/T Investments 7,000 Notes Receivable ($2,000...
Part II: An Operating Section on a Statement of Cash Flows Carl's Candy Company has this...
Part II: An Operating Section on a Statement of Cash Flows Carl's Candy Company has this information for December 31, 2018: All of the Income Statement Accounts: Sales Revenue $180,000; Cost of Goods Sold Expense $145,000: Depreciation Expense $6,000: Salaries Expense $20,000: Loss on Sale of PPE $1,000; Income Taxes $1,000; Net Income $7,000. Partial Balance Sheet Accounts Receivable Beginning $30,000 Ending $22,000 Inventory Beginning $15,000 Ending $18,000 PPE Beginning $75,000 Ending $100,000 Accounts Payable Beginning $11,000 Ending $13,000 Salaries...
Sales revenue Cost of goods sold Gross profit Selling and administrative expenses Operating income Interest expense...
Sales revenue Cost of goods sold Gross profit Selling and administrative expenses Operating income Interest expense Income before tax Income tax expense Net income 2018 R 70,000 42,000 R 28,000 20,000 R8,000 2,000 R6,000 2,000 R 4,000 2017 R 60,000 30,000 R 30,000 14,000 R16,000 2,000 R14,000 3,000 R11,000 Required: 1. Prepare common-size comparative income statements for the two years for Beach Motors (Pty) Ltd (11) 2. What observations can you make about the common-size statements? List at least four...
Rent Expense Utilities Expense Total Operating Expenses Income From Operations Other Expenses and Losses Interest Expense...
Rent Expense Utilities Expense Total Operating Expenses Income From Operations Other Expenses and Losses Interest Expense Loss on Disposal of Plant Assets Income Before Income Taxes 4 Income Tax Expense Net Income /(Loss) Assume the marketing department has presented a plan to increase advertising expenses by $340 million. It expects this plan to result in an increase in both net sales and cost of goods sold of 25%. (Hint: Increase both sales revenue and sales returns and allowances by 25%.)...
Using the following information, compute NET INCOME. Cost of Goods Sold $ 6,000 Interest Expense 1,100...
Using the following information, compute NET INCOME. Cost of Goods Sold $ 6,000 Interest Expense 1,100 Selling and Administrative Expense 750 Cash 400 Sales 10,000 Wages Payable 250 Dividends 700 Retained Earnings (beginning) 1,000 Income Tax Expense 1,200 $1,700 $1,350 $1,950 $700 $950
Cost of goods sold: Investment income: $234,000 $ 2,680 $ 397,000 S 92,000 $ 7,400 $ 12,000 4% Net sales: Operating...
Cost of goods sold: Investment income: $234,000 $ 2,680 $ 397,000 S 92,000 $ 7,400 $ 12,000 4% Net sales: Operating expense: Interest expense: Dividends: Тах гate: Book ronces Current liabilities: Cash: $ 20,000 $ 21,000 $ 22,000 $ 42,000 $131,000 s 5,000 $ 46,000 $ 47,000 Long-term debt: Other assets: Fixed assets: Other liabilities Investments Operating assets: During the year, Smashville, Inc., had 17,000 sheares of stock outstanding and depreciation expense of $15,000. Calculate the book value per share,...
Free Cash flow question What is the amount of free cash flow for this company for...
Free Cash flow question
What is the amount of free cash flow for this company for the
year? Please show formula/equation so i know how to solve for.
Thank you!
Cash Flow Statement Amount Calculations - Chapter 14 End of year Beginning of year Current year Income statement Balance sheet Cash Accounts receivable Inventory Prepaid expenses Total current assets Equipment, at cost Less: Accum. depreciation Net equipment Total assets 86,000 112,000 141,000 18,000 357,000 298,000 (100,000) 198,000 555,000 54,000 126,000...
Use the following information to calculate value of farm production, total farm operating expenses, interest expense,...
Use
the following information to calculate value of farm production,
total farm operating expenses, interest expense, net farm income
from operations and owner’s equity. Use the value of farm
production format.
Crop sales of new crop Crop sales of old crop Change in crop inventory from 1/10 to 12/10 Change in accounts payable from 1/10 to 12/10 Change in accounts receivable from 1/10 to 12/10 Government payments received in 2010 Cash received for sale of tractor Market livestock purchases Feed...
t accounts recelvable at their net realizable value? 43) What does it mean to repor 44) For each company, calculate the missing amount. Sales Cost of Goods Gross ProfitOperating Net Income Expens...
t accounts recelvable at their net realizable value? 43) What does it mean to repor 44) For each company, calculate the missing amount. Sales Cost of Goods Gross ProfitOperating Net Income Expenses Sold $1,000 4,000 2,000 $3,000 $8,000 9,000 8,000 8,000 $4,000 Lennon 2,000 3,000 3,000 3,000 Harrison McCartney Starr 5,000 3,000 5,000 45) Beasley Inc., reports the following amounts in its December 31, 2018, income statement Sales Income tax revenue $300,000 expense Interest expense12,000 sold Salaries expense $38,000 Cost...
Part II: An Operating Section on a Statement of Cash Flows Carl's Candy Company has this information for December 31, 2018: All of the Income Statement Accounts: Sales Revenue $180,000; Cost of Goods Sold Expense $145,000: Depreciation Expense $6,000: Salaries Expense $20,000: Loss on Sale of PPE $1,000; Income Taxes $1,000; Net Income $7,000. Partial Balance Sheet Accounts Receivable Beginning $30,000 Ending $22,000 Inventory Beginning $15,000 Ending $18,000 PPE Beginning $75,000 Ending $100,000 Accounts Payable Beginning $11,000 Ending $13,000 Salaries...
Sales revenue Cost of goods sold Gross profit Selling and administrative expenses Operating income Interest expense Income before tax Income tax expense Net income 2018 R 70,000 42,000 R 28,000 20,000 R8,000 2,000 R6,000 2,000 R 4,000 2017 R 60,000 30,000 R 30,000 14,000 R16,000 2,000 R14,000 3,000 R11,000 Required: 1. Prepare common-size comparative income statements for the two years for Beach Motors (Pty) Ltd (11) 2. What observations can you make about the common-size statements? List at least four...
Rent Expense Utilities Expense Total Operating Expenses Income From Operations Other Expenses and Losses Interest Expense Loss on Disposal of Plant Assets Income Before Income Taxes 4 Income Tax Expense Net Income /(Loss) Assume the marketing department has presented a plan to increase advertising expenses by $340 million. It expects this plan to result in an increase in both net sales and cost of goods sold of 25%. (Hint: Increase both sales revenue and sales returns and allowances by 25%.)...
Cost of goods sold: Investment income: $234,000 $ 2,680 $ 397,000 S 92,000 $ 7,400 $ 12,000 4% Net sales: Operating expense: Interest expense: Dividends: Тах гate: Book ronces Current liabilities: Cash: $ 20,000 $ 21,000 $ 22,000 $ 42,000 $131,000 s 5,000 $ 46,000 $ 47,000 Long-term debt: Other assets: Fixed assets: Other liabilities Investments Operating assets: During the year, Smashville, Inc., had 17,000 sheares of stock outstanding and depreciation expense of $15,000. Calculate the book value per share,...
Free Cash flow question
What is the amount of free cash flow for this company for the
year? Please show formula/equation so i know how to solve for.
Thank you!
Cash Flow Statement Amount Calculations - Chapter 14 End of year Beginning of year Current year Income statement Balance sheet Cash Accounts receivable Inventory Prepaid expenses Total current assets Equipment, at cost Less: Accum. depreciation Net equipment Total assets 86,000 112,000 141,000 18,000 357,000 298,000 (100,000) 198,000 555,000 54,000 126,000...
Use
the following information to calculate value of farm production,
total farm operating expenses, interest expense, net farm income
from operations and owner’s equity. Use the value of farm
production format.
Crop sales of new crop Crop sales of old crop Change in crop inventory from 1/10 to 12/10 Change in accounts payable from 1/10 to 12/10 Change in accounts receivable from 1/10 to 12/10 Government payments received in 2010 Cash received for sale of tractor Market livestock purchases Feed...
t accounts recelvable at their net realizable value? 43) What does it mean to repor 44) For each company, calculate the missing amount. Sales Cost of Goods Gross ProfitOperating Net Income Expenses Sold $1,000 4,000 2,000 $3,000 $8,000 9,000 8,000 8,000 $4,000 Lennon 2,000 3,000 3,000 3,000 Harrison McCartney Starr 5,000 3,000 5,000 45) Beasley Inc., reports the following amounts in its December 31, 2018, income statement Sales Income tax revenue $300,000 expense Interest expense12,000 sold Salaries expense $38,000 Cost...
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