Homework Answers
Revenues 870996.00
Less: general and admin expenses 350038.00
Less: depreciation 131455.00
Less: Leasing expenses 108195.00
Less: interest expenses 78122.00
EBT 203186.00
Tax @ 34% 69083.24
PAT 134102.76
Add: Depreciation 131455.00
Cash flow from operations 265557.76 ~ 265558
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Problem 3.26 Your answer is incorrect. Try again. Cullumber Rental Company provided the following information to...
Question 6 Your answer is partially correct. Try again Nimitz Rental company provided the following information...
Question 6 Your answer is partially correct. Try again Nimitz Rental company provided the following information to auditors. For the year ended March 31, 2013, the company had revenues of $588,200, general and administrative sense of $351,400, depreciation expenses of $131,455, leasing expenses of $108,195, and interest expenses equal to $78,122. the company's tax rates 34 percent, what is its net income after taxes? (Roudn edate cat s and answer to the rest whole dollar... 5.275.) Nimita Rental Company e...
3.26 Cash flows: Refer to the information given in problem 3.21. What is the cash flow...
3.26 Cash flows: Refer to the information given in problem 3.21. What is the cash flow for Nimitz Rental? 3.21 Income statement: Nimitz Rental Company provided the following information to its auditors. For the year ended March 31, 2017, the company had revenues of $878,412, general and administrative expenses of $352,666, depreciation expenses of $131,455, leasing expenses of $108,195, and interest expenses equal to $78,122. If the company's average tax rate is 34 percent, what is its net income after
Nimitz Rental Company provided the following information to its auditors. For the year ended March 31,...
Nimitz Rental Company provided the following information to its auditors. For the year ended March 31, 2014, the company had revenues of $878,412, general and administrative expenses of $352,666, depreciation expenses of $131,455, leasing expenses of $108,195, and interest expenses equal to $78,122. If the company's average tax rate is 34 percent, what is the cash flow for Nimitz Rental?
Nimi Rental Company provided the following information to auditors. For the year ended March 31, 2013,...
Nimi Rental Company provided the following information to auditors. For the year ended March 31, 2013, the company had revenue of $877,100, general and administrative expense of $363100, depreciation expenses of $131,455, leasing expenses of $108,195, and interest expenses equal to $78,122. If the company's tax rates 34 percent, what is net income after taxes (Round intermediate calculations and final answer to the nearest whole dotare. 5.225) Nimita Rental Company Income Statement as of March 31, 2013 Amount Net Sales...
income statement: Nimitz Rental Company provided the following information to its auditors, for the year ended...
income statement: Nimitz Rental Company provided the following information to its auditors, for the year ended March 31, 2011, the. company had revenues of $878,412, general and administrative expenses of $352,666, depreciation expenses of $131,455, leasing expenses of $108,195, and interest expenses equal to $78, 122. if the company's tax rate is 34 percent, what is its net income after taxes?
*Exercise 21A-12 a-f On January 1, 2017, Cullumber Company leased equipment to Flynn Corporation. The following...
*Exercise 21A-12 a-f On January 1, 2017, Cullumber Company leased equipment to Flynn Corporation. The following information pertains to this lease: The term of the non-cancelable lease is 6 years. At the end of the lease term, Flynn has the option to purchase the equipment for $2,000, while the expected residual value at the end of the lease is $6,000. 2. Equal rental payments are due on January 1 of each year, beginning in 2017. 3. The fair value of...
Brief Exercise 10-04 X Your answer is incorrect. Try again. Pronghorn Company is constructing a building....
Brief Exercise 10-04 X Your answer is incorrect. Try again. Pronghorn Company is constructing a building. Construction began on February 1 and was completed on December 31 Expenditures were $3,600,000 on March 1, $2,400,000 on June 1, and $6,000,000 on December 31 Pronghorn Company borrowed $2,000,000 on March 1 on a 5-year, 12 % note to help finance construction of the building. In addition, the company had outstanding all year a 8 %, 5-year, $4,000,000 note payable and an 11...
for the quarter ended march 31, 2017 x Your answer is incorrect. Try again. For the...
for
the quarter ended march 31, 2017
x Your answer is incorrect. Try again. For the quarter ended March 31, 2017, Croix Company accumulates the following sales data for its newest guitar, The Edge: $320,200 budget: 1323,800 actual Prepare a static budget report for the quarter CROIX COMPANY Sales Budget Report For the Quarter Ended March 31, 2017 Actual Difference Product Une Budget Guitar: The Edge T Click If you would like to Show Work for this question: Open Show...
Multiple Choice Question 101 Your answer is incorrect. Try again. Marigold Company sells merchandise on account...
Multiple Choice Question 101 Your answer is incorrect. Try again. Marigold Company sells merchandise on account for $4600 to Cullumber Company with credit terms of 1/10, n/30. Cullumber Company retus $400 of merchandise that was damaged, along with a check to settle the account within the discount period. What entry does Marigold Company make upon receipt of the check? Cash 4158 Sales Returns and Allowances 442 Accounts Receivable 4600 Cash 4200 Accounts Receivable 4200 Cash 4158 400 42 Sales Returns...
Brief Exercise 12-7 Your answer is incorrect. Try again. The T-accounts for Equipment and the related...
Brief Exercise 12-7 Your answer is incorrect. Try again. The T-accounts for Equipment and the related Accumulated Depreciation—Equipment for Blue Spruce Corp. at the end of 2017 are shown here. Equipment Beg. bal. 104,880 Disposals 28,842 Acquisitions 54,538 End. bal. 130,576 Accum. Depr.—Equipment Disposals 6,686 Beg. bal. 58,340 Depr. exp. 15,732 End. bal. 67,386 In addition, Blue Spruce Corp.’s income statement reported a loss on the disposal of plant assets of $4,589. What amount was reported on the statement of...
Question 6 Your answer is partially correct. Try again Nimitz Rental company provided the following information to auditors. For the year ended March 31, 2013, the company had revenues of $588,200, general and administrative sense of $351,400, depreciation expenses of $131,455, leasing expenses of $108,195, and interest expenses equal to $78,122. the company's tax rates 34 percent, what is its net income after taxes? (Roudn edate cat s and answer to the rest whole dollar... 5.275.) Nimita Rental Company e...
3.26 Cash flows: Refer to the information given in problem 3.21. What is the cash flow for Nimitz Rental? 3.21 Income statement: Nimitz Rental Company provided the following information to its auditors. For the year ended March 31, 2017, the company had revenues of $878,412, general and administrative expenses of $352,666, depreciation expenses of $131,455, leasing expenses of $108,195, and interest expenses equal to $78,122. If the company's average tax rate is 34 percent, what is its net income after
Nimi Rental Company provided the following information to auditors. For the year ended March 31, 2013, the company had revenue of $877,100, general and administrative expense of $363100, depreciation expenses of $131,455, leasing expenses of $108,195, and interest expenses equal to $78,122. If the company's tax rates 34 percent, what is net income after taxes (Round intermediate calculations and final answer to the nearest whole dotare. 5.225) Nimita Rental Company Income Statement as of March 31, 2013 Amount Net Sales...
*Exercise 21A-12 a-f On January 1, 2017, Cullumber Company leased equipment to Flynn Corporation. The following information pertains to this lease: The term of the non-cancelable lease is 6 years. At the end of the lease term, Flynn has the option to purchase the equipment for $2,000, while the expected residual value at the end of the lease is $6,000. 2. Equal rental payments are due on January 1 of each year, beginning in 2017. 3. The fair value of...
Brief Exercise 10-04 X Your answer is incorrect. Try again. Pronghorn Company is constructing a building. Construction began on February 1 and was completed on December 31 Expenditures were $3,600,000 on March 1, $2,400,000 on June 1, and $6,000,000 on December 31 Pronghorn Company borrowed $2,000,000 on March 1 on a 5-year, 12 % note to help finance construction of the building. In addition, the company had outstanding all year a 8 %, 5-year, $4,000,000 note payable and an 11...
for
the quarter ended march 31, 2017
x Your answer is incorrect. Try again. For the quarter ended March 31, 2017, Croix Company accumulates the following sales data for its newest guitar, The Edge: $320,200 budget: 1323,800 actual Prepare a static budget report for the quarter CROIX COMPANY Sales Budget Report For the Quarter Ended March 31, 2017 Actual Difference Product Une Budget Guitar: The Edge T Click If you would like to Show Work for this question: Open Show...
Multiple Choice Question 101 Your answer is incorrect. Try again. Marigold Company sells merchandise on account for $4600 to Cullumber Company with credit terms of 1/10, n/30. Cullumber Company retus $400 of merchandise that was damaged, along with a check to settle the account within the discount period. What entry does Marigold Company make upon receipt of the check? Cash 4158 Sales Returns and Allowances 442 Accounts Receivable 4600 Cash 4200 Accounts Receivable 4200 Cash 4158 400 42 Sales Returns...
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