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Can I please get help with
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Reformulating Financial Statements For Warranty Expense Income statement data for Whirlpool Industries from the company's 2016...
Reformulating Financial Statements For Warranty Expense Income statement data for Whirlpool Industries from the company's 2016 financial statements follow Use these data to reformulate the income statement for 2014, 2015, and 2016 under the assumption that warranty expense is a constant percentage of revenue across all three years. Specifically, compute the adjustments to: Warranty expense, income tax expense, and net income. The company's tax rate is 30%. 12 Months Ended (S millions) Net sales Warranty expense Dec. 31, 2016 Dec....
Reformulating Allowance for Doubtful Accounts and Bad Debt Expense Merck & Company reported the following from...
Reformulating Allowance for Doubtful Accounts and Bad
Debt Expense
Merck & Company reported the following from its 2016
financial statements.
$ millions Accounts receivable, net Allowance for doubtful accounts 2013 2014 2015 2016 $7,184 $6,626 $6,484 $7,018 146 153 165 95 a. Compute accounts receivable gross for each year. $ millions 2013 2014 2015 Accounts receivable, gross $ 2016 b. Determine the percentage of allowance to gross account receivables for each year. Round answers to two decimal places (ex: 0.02345...
i need the income statement and balnce sheet only....please help!!! Version 1 Company -Matisse Company Reporting Year- 2016 (Corporation Uses a Calendar Year Jan. 1 through Dec. 31st List of...
i
need the income statement and balnce sheet only....please
help!!!
Version 1 Company -Matisse Company Reporting Year- 2016 (Corporation Uses a Calendar Year Jan. 1 through Dec. 31st List of Accounts Common Stock, Total Dividends Other Expense Trading Securities Sales Tax Payable Purchase Discounts General Expense Rent Revenue Purchase Returns & Allowances Accounts Payable Interest Payable (Current) Estimated Warranty Liability Deferred Income Tax Unearned Revenue Capital Lease Obligation 8S 132.00 苓982. CO $1,200.0 1315.00 2.000.0O Chapter Material of Education redesigned...
please help! 12-2, LO12-5, The following data relate to the operations of Slick Software, Inc, during...
please help!
12-2, LO12-5, The following data relate to the operations of Slick Software, Inc, during 2015. Continuing operations: $19,850,000 16,900,000 12.2A Net sales . . .. Costs and expenses (including applicable income tax,) Income a Statement rnings Other data: Operating income during 2015 on segment of the business discontinued near year-end (net of income ta Loss on disposal of discontinued segment (net of income 140,000 tax benefit) Extraordinary loss (net of income tax benefit) Prior period adjustment (increase in...
Use the information below to answer the question above. Can someone help me with this question,...
Use the information below to answer the question above.
Can someone help me with this question, please? it shows the
answer as b) $4050 but I dont know how it got that? is it a
deferred tax asset or deferred tax liability? show your work and
thanks in advance!
here PTFI is just abbreviation for pretax financial income and
TI is an abbreviation for taxable income.
10. Assume an enacted tax rate of 30% for all years. The rates are...
Please help me answer this question. E 6-3 Computation of net income for upstream and downstream...
Please help me answer this question.
E 6-3 Computation of net income for upstream and downstream sales of land Patay Corporation acquired a 90 percent interest in Satay Corporation, when the book value of Satay's net assets was equal to their fair value in 2014. On January 1, 2015, Patay sold land with a book value of $50,000 to Satay for $75,000 and, at the same time, Satay sold land with a book value of $20,000 to Patay for $25,000....
Question 3.11 - Using the information provided in the problem on page 145, calculate/answer the following:...
Question 3.11 - Using the information provided
in the problem on page 145, calculate/answer the following:
a. Sales growth percentage from 2014 to 2015.
b. Sales growth percentage from 2015 to 2016.
c. Cost of goods sold percentage for 2014.
d. Cost of goods sold percentage for 2015.
e. Cost of goods sold percentage for 2016.
f. Gross profit margin percentage for 2014.
g. Gross profit margin percentage for 2015.
h. Gross profit marginpercentage for 2016.
i. Operating profit margin...
Use the information below to answer the question above. Can someone help me with this question, please? I know the ans...
Use the information below to answer the question above.
Can someone help me with this question, please? I know the
answer is C but im confused as to why. I know municipal interest is
non-taxable so it is a 5000 permanent difference but why is the
temporary difference 0? I thought it would be an 18000 temporary
difference but based on the answer key I was wrong. Can someone
explain it to me? please help and thank you in advance!...
I need help with the following question. I can not get my answers to match for...
I need help with the following question. I can not get my answers to match for the cost of goods sold on the question below Laker Company reported the following January purchases and sales data for its only product. Date Activities Units Acquired at Cost Units Sold at Retail Jan. 1 Beginning inventory 290 units @ $9.80 = $ 2,842 Jan. 10 Sales 160 units @$17.80 Jan. 20 Purchase 360 units @ $8.80 = 3,168 Jan. 25 Sales 285 units...
I need help on the problems I got wrong. The comparative financial statements of Blige Inc. are as follows. The mark...
I need help on the problems I got wrong.
The comparative financial statements of Blige Inc. are as follows. The market price of Blige Inc. common stock was $67 on December 31, 2016 Blige Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2016 and 2015 2016 2015 $2,398,100 Retained earnings, January 1 $2,823,100 Add net income for year 660,000 491,200 Total $3,483,100 $2,889,300 Deduct dividends On preferred stock $8,400 $8,400 57,800 57,800 On common stock Total $66,200...
Reformulating Financial Statements For Warranty Expense Income statement data for Whirlpool Industries from the company's 2016 financial statements follow Use these data to reformulate the income statement for 2014, 2015, and 2016 under the assumption that warranty expense is a constant percentage of revenue across all three years. Specifically, compute the adjustments to: Warranty expense, income tax expense, and net income. The company's tax rate is 30%. 12 Months Ended (S millions) Net sales Warranty expense Dec. 31, 2016 Dec....
Reformulating Allowance for Doubtful Accounts and Bad
Debt Expense
Merck & Company reported the following from its 2016
financial statements.
$ millions Accounts receivable, net Allowance for doubtful accounts 2013 2014 2015 2016 $7,184 $6,626 $6,484 $7,018 146 153 165 95 a. Compute accounts receivable gross for each year. $ millions 2013 2014 2015 Accounts receivable, gross $ 2016 b. Determine the percentage of allowance to gross account receivables for each year. Round answers to two decimal places (ex: 0.02345...
i
need the income statement and balnce sheet only....please
help!!!
Version 1 Company -Matisse Company Reporting Year- 2016 (Corporation Uses a Calendar Year Jan. 1 through Dec. 31st List of Accounts Common Stock, Total Dividends Other Expense Trading Securities Sales Tax Payable Purchase Discounts General Expense Rent Revenue Purchase Returns & Allowances Accounts Payable Interest Payable (Current) Estimated Warranty Liability Deferred Income Tax Unearned Revenue Capital Lease Obligation 8S 132.00 苓982. CO $1,200.0 1315.00 2.000.0O Chapter Material of Education redesigned...
please help!
12-2, LO12-5, The following data relate to the operations of Slick Software, Inc, during 2015. Continuing operations: $19,850,000 16,900,000 12.2A Net sales . . .. Costs and expenses (including applicable income tax,) Income a Statement rnings Other data: Operating income during 2015 on segment of the business discontinued near year-end (net of income ta Loss on disposal of discontinued segment (net of income 140,000 tax benefit) Extraordinary loss (net of income tax benefit) Prior period adjustment (increase in...
Use the information below to answer the question above.
Can someone help me with this question, please? it shows the
answer as b) $4050 but I dont know how it got that? is it a
deferred tax asset or deferred tax liability? show your work and
thanks in advance!
here PTFI is just abbreviation for pretax financial income and
TI is an abbreviation for taxable income.
10. Assume an enacted tax rate of 30% for all years. The rates are...
Please help me answer this question.
E 6-3 Computation of net income for upstream and downstream sales of land Patay Corporation acquired a 90 percent interest in Satay Corporation, when the book value of Satay's net assets was equal to their fair value in 2014. On January 1, 2015, Patay sold land with a book value of $50,000 to Satay for $75,000 and, at the same time, Satay sold land with a book value of $20,000 to Patay for $25,000....
Question 3.11 - Using the information provided
in the problem on page 145, calculate/answer the following:
a. Sales growth percentage from 2014 to 2015.
b. Sales growth percentage from 2015 to 2016.
c. Cost of goods sold percentage for 2014.
d. Cost of goods sold percentage for 2015.
e. Cost of goods sold percentage for 2016.
f. Gross profit margin percentage for 2014.
g. Gross profit margin percentage for 2015.
h. Gross profit marginpercentage for 2016.
i. Operating profit margin...
Use the information below to answer the question above.
Can someone help me with this question, please? I know the
answer is C but im confused as to why. I know municipal interest is
non-taxable so it is a 5000 permanent difference but why is the
temporary difference 0? I thought it would be an 18000 temporary
difference but based on the answer key I was wrong. Can someone
explain it to me? please help and thank you in advance!...
I need help on the problems I got wrong.
The comparative financial statements of Blige Inc. are as follows. The market price of Blige Inc. common stock was $67 on December 31, 2016 Blige Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2016 and 2015 2016 2015 $2,398,100 Retained earnings, January 1 $2,823,100 Add net income for year 660,000 491,200 Total $3,483,100 $2,889,300 Deduct dividends On preferred stock $8,400 $8,400 57,800 57,800 On common stock Total $66,200...
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