Help! What could be the best scenario to achieve NI 1,200,000 and what other options does...
Help! What could be the best scenario to achieve NI 1,200,000 and what other options does the company have in order to obtain the same amount of net income?
| Sales | (6,174,020.00) |
| Sales Returns | 320,280.00 |
| Sales Discounts | 59,910.00 |
| Purchases | - |
| Purchase Returns | - |
| Purchase Discounts | - |
| Cost of Goods Sold | 4,205,114.00 |
| Wage & Salary Expense | 70,878.00 |
| Rent Expense | 122,650.00 |
| Utilities Expense | 72,820.00 |
| Office Supplies Expense | 35,800.00 |
| Payroll Tax Expense | 27,135.25 |
| Depreciation | 11,750.00 |
| Bad Debt Expense | 57,938.30 |
| Interest Expense | 5,000.00 |
| Provision for Income Tax | 236,948.89 |
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Help! What could be the best scenario to achieve NI 1,200,000
and what other options does...
beginning owners equity is : $627,453 Acct No. Name 1010 Cash 1030 Accounts Receivable 1035 Allowance...
beginning owners equity is : $627,453
Acct No. Name 1010 Cash 1030 Accounts Receivable 1035 Allowance for Bad Debt 1050 Inventory 1700 Fixed Assets 1750 Accumulated Depreciation 2010 Accounts Payable 2030 Payroll W/H&Taxes Payable 2070 Interest Payable 2080 Income Tax Payable 2700 Long-term Notes Payable 3900 Capital Stock 3999 Retained Earnings 4010 Sales 4020 Sales Returns 4030 Sales Discounts 5000 Purchases 5010 Purchase Returns 5020 Purchase Discounts 5999 Cost of Goods Sold 6000 Wage & Salary Expense 6010 Rent Expense...
can you please solve and state what variables you used for each equation? thank you 1...
can
you please solve and state what variables you used for each
equation? thank you
1 Acct No. Name 2 1010 Cash 3 1030 Accounts Receivable 4 1035 Allowance for Bad Debt 5 1050 Inventory 6 1700 Fixed Assets 7 1750 Accumulated Depreciation 8 2010 Accounts Payable 9 2030 Payroll W/H&Taxes Payable 10 2070 Interest Payable 11 2080 Income Tax Payable 12 2700 Long-term Notes Payable 13 3900 Capital Stock 14 3999 Retained Earnings 15 4010 Sales 16 4020 Sales...
2 4 1 Acct No. Name 2 1010 Cash 3 1030 Accounts Receivable 4 1035 Allowance...
2 4 1 Acct No. Name 2 1010 Cash 3 1030 Accounts Receivable 4 1035 Allowance for Bad Debt 5 1050 Inventory 6 1700 Fixed Assets 7 1750 Accumulated Depreciation 8 2010 Accounts Payable 9 2030 Payroll W/H&Taxes Payable 10 2070 Interest Payable 11 2080 Income Tax Payable 12 2700 Long-term Notes Payable 13 3900 Capital Stock 14 3999 Retained Earnings 15 4010 Sales 16 4020 Sales Returns 17 4030 Sales Discounts 18 5000 Purchases 19 5010 Purchase Returns 20...
Label as financing, operating, investing activities. Cash Investment Securities--AFS Accrured Interest Receivable Accounts Receivable Allowance for...
Label as financing, operating, investing activities. Cash Investment Securities--AFS Accrured Interest Receivable Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Prepaid Insurance Store Supplies Land Building Accumulated Depreciation: Building Office & Store Equipment Accumulated Depreciation: Office & Store Equipment Delivery Trucks Accumulated Depreciation: Delivery Trucks Accounts Payable FICA Taxes Payable Withholding Taxes Payable Unemployment Taxes Payable Union Dues Payable Salaries & Wages Payable Accrued Utilities Payable Income taxes payable Mortgage Payable Accrued Interest Payable Common Stock PIC in Excess of...
Label as a current asset, current liability, non-current asset, non-current liability, or owners equity as appears...
Label as a current asset, current liability, non-current asset, non-current liability, or owners equity as appears on a balance sheet. Cash Investment Securities--AFS Accrured Interest Receivable Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Prepaid Insurance Store Supplies Land Building Accumulated Depreciation: Building Office & Store Equipment Accumulated Depreciation: Office & Store Equipment Delivery Trucks Accumulated Depreciation: Delivery Trucks Accounts Payable FICA Taxes Payable Withholding Taxes Payable Unemployment Taxes Payable Union Dues Payable Salaries & Wages Payable Accrued Utilities Payable...
Below are the completed financial statement columns of the worksheet for Suncor Company. Suncor Company Work...
Below are the completed financial statement columns of the
worksheet for Suncor Company.
Suncor Company
Work Sheet
For the Year Ended December 31, 2017
During 2017, Suncor’s shareholders invested $26,880 in exchange
for common shares. Accumulated other comprehensive income had a
balance of $0 on January 1, 2017.
Prepare a statement of comprehensive income.
SUNCOR CORP.
Choice of accounts to use:
Accounts Payable
Accounts Receivable
Accrued Liabilities
Accumulated Amortization - Patent
Accumulated Depreciation - Buildings
Accumulated Depreciation - Equipment
Accumulated...
PRACTICE PROBLEM - PERIODIC Adjustment Data: For the Year Ended December 31, 2014 1) A physical merchandise inventory t...
PRACTICE PROBLEM - PERIODIC Adjustment Data: For the Year Ended December 31, 2014 1) A physical merchandise inventory taken on December 31 amounted to $8,000 2) Accrued Salesman Salary, $7,000 3) The store machinery purchased has an estimated useful life of 5 years 4) Unusued office supplies at year end $3,000. Required a) Prepare Worksheet as of December 31, 2014 - Place accounts in Financial Statement Order d) Prepare All Financial Statements (Income Statement, Capital Statement, Balance Sheet) e) Prepare...
Exercise 13.3 Preparing a classified income statement. LO 13-1 The worksheet of Bridget's Office Supplies contains...
Exercise 13.3 Preparing a classified income statement. LO 13-1 The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventory amounted to $58,975 on January 1, 2019, and $51.925 on December 31, 2019. The expense accounts numbered 611 through 617 represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses. eBook $246.000 r. 4,270 Dr. J20 CP 182,800 Or 3.5e Cr. 1,720 C Accounts 401 Sales 451 Sales Returns and...
On December 31, 2019, the Income Statement section of the worksheet for Capeletti Distributors contained the...
On December 31, 2019, the Income Statement section of the worksheet for Capeletti Distributors contained the following information. Income Statement Section Debit Credit Income Summary $ 38,400 $ 41,700 Sales 253,500 Sales Returns and Allowances 3,800 Sales Discounts 2,800 Interest Income 160 Purchases 134,200 Freight In 2,100 Purchases Returns and Allowances 1,900 Purchases Discounts 1,510 Rent Expense 8,400 Utilities Expense 2,910 Telephone Expense 1,520 Salaries Expense 65,900 Payroll Taxes Expense 5,250 Supplies Expense 1,680 Depreciation Expense 2,400 Interest Expense 320...
On December 31, 2019, the Income Statement section of the worksheet for Capeletti Distributors contained the...
On December 31, 2019, the Income Statement section of the worksheet for Capeletti Distributors contained the following information. Income Statement Section Debit Credit Income Summary $ 39,300 $ 42,600 Sales 258,000 Sales Returns and Allowances 4,250 Sales Discounts 3,250 Interest Income 205 Purchases 135,100 Freight In 2,550 Purchases Returns and Allowances 2,350 Purchases Discounts 1,600 Rent Expense 8,850 Utilities Expense 3,000 Telephone Expense 1,610 Salaries Expense 66,800 Payroll Taxes Expense 5,340 Supplies Expense 1,770 Depreciation Expense 2,850 Interest Expense 410...
beginning owners equity is : $627,453
Acct No. Name 1010 Cash 1030 Accounts Receivable 1035 Allowance for Bad Debt 1050 Inventory 1700 Fixed Assets 1750 Accumulated Depreciation 2010 Accounts Payable 2030 Payroll W/H&Taxes Payable 2070 Interest Payable 2080 Income Tax Payable 2700 Long-term Notes Payable 3900 Capital Stock 3999 Retained Earnings 4010 Sales 4020 Sales Returns 4030 Sales Discounts 5000 Purchases 5010 Purchase Returns 5020 Purchase Discounts 5999 Cost of Goods Sold 6000 Wage & Salary Expense 6010 Rent Expense...
can
you please solve and state what variables you used for each
equation? thank you
1 Acct No. Name 2 1010 Cash 3 1030 Accounts Receivable 4 1035 Allowance for Bad Debt 5 1050 Inventory 6 1700 Fixed Assets 7 1750 Accumulated Depreciation 8 2010 Accounts Payable 9 2030 Payroll W/H&Taxes Payable 10 2070 Interest Payable 11 2080 Income Tax Payable 12 2700 Long-term Notes Payable 13 3900 Capital Stock 14 3999 Retained Earnings 15 4010 Sales 16 4020 Sales...
2 4 1 Acct No. Name 2 1010 Cash 3 1030 Accounts Receivable 4 1035 Allowance for Bad Debt 5 1050 Inventory 6 1700 Fixed Assets 7 1750 Accumulated Depreciation 8 2010 Accounts Payable 9 2030 Payroll W/H&Taxes Payable 10 2070 Interest Payable 11 2080 Income Tax Payable 12 2700 Long-term Notes Payable 13 3900 Capital Stock 14 3999 Retained Earnings 15 4010 Sales 16 4020 Sales Returns 17 4030 Sales Discounts 18 5000 Purchases 19 5010 Purchase Returns 20...
Below are the completed financial statement columns of the
worksheet for Suncor Company.
Suncor Company
Work Sheet
For the Year Ended December 31, 2017
During 2017, Suncor’s shareholders invested $26,880 in exchange
for common shares. Accumulated other comprehensive income had a
balance of $0 on January 1, 2017.
Prepare a statement of comprehensive income.
SUNCOR CORP.
Choice of accounts to use:
Accounts Payable
Accounts Receivable
Accrued Liabilities
Accumulated Amortization - Patent
Accumulated Depreciation - Buildings
Accumulated Depreciation - Equipment
Accumulated...
PRACTICE PROBLEM - PERIODIC Adjustment Data: For the Year Ended December 31, 2014 1) A physical merchandise inventory taken on December 31 amounted to $8,000 2) Accrued Salesman Salary, $7,000 3) The store machinery purchased has an estimated useful life of 5 years 4) Unusued office supplies at year end $3,000. Required a) Prepare Worksheet as of December 31, 2014 - Place accounts in Financial Statement Order d) Prepare All Financial Statements (Income Statement, Capital Statement, Balance Sheet) e) Prepare...
Exercise 13.3 Preparing a classified income statement. LO 13-1 The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventory amounted to $58,975 on January 1, 2019, and $51.925 on December 31, 2019. The expense accounts numbered 611 through 617 represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses. eBook $246.000 r. 4,270 Dr. J20 CP 182,800 Or 3.5e Cr. 1,720 C Accounts 401 Sales 451 Sales Returns and...
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