Mateo Inc. is a retailer of men's and women's clothing aimed at college-age customers. Listed below...
CHAPTER 5 Communicating and interpreting Accou $ 231 Net sales Costs and expenses Cost of sales Research and development Selling, general, and administrative Operating income (loss) Interest and other income (expenses), net Income (loss) before provision (benefit) for income taxes Provision (benefit) for income taxes Net income (loss) Source: Creative Technology LTD The company's beginning and ending assets were $403 and $342, respectively. (52) $ (47) (5) Required: Listed here are hypothetical additional transactions. Assuming that they also occurred during...
Apple Inc. popularized both the personal computer and the easy-to-use graphic interface. Today it competes against many companies that rely on the Windows and Android operating systems. The company’s statement of earnings for a recent year is presented below (in millions of U.S. dollars): Net sales $ 182,795 Cost of sales 112,258 Gross profit 70,537 Operating expenses: Research and development 6,041 Selling, general, and administrative 11,993 Total operating expenses 18,034 Earnings from operations 52,503 Other income/(expense),...
Required: L. P are a una entry to rewardrach of the transition the the letter of each transaction is reference w the effects direction and amount of each transactice wearings and cash hafabercions L03-5 51 Hypothetical idir tonal transactions occurred during the fiscal year. Complete the following tabulation, indicating the sign and amount of the effect of each additional transaction (+ for increase, - for decrease, and 'N' for no effect). Consider each item! independently and ignore income taxes. a....
E13-19 (L04) (Ratio Computations and Effect of Transactions) Presented below is information related to Carver Inc CARVER INC. BALANCE SHEET DECEMBER 31, 2017 50,000 32,000 5,000 260,000 141,000 Cash Receivables $ 45,000 Notes payable (short-term) Accounts payable Accrued liabilities Common stock (par $5) Retained earnings $110,000 15,000 Less: Allowance Inventory Prepaid insurance Land Equipment (net) 95,000 170,000 8,000 20,000 150,000 $488,000 $488,000 CARVER INC INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2017 Sales revenue $1,400,000 Cost of goods sold...
Presented below is information related to Oriole Inc. ORIOLE INC. BALANCE SHEET DECEMBER 31, 2020 Cash $44,700 Notes payable (short-term) $49,600 Receivables $110,700 Accounts payable 32,200 Less: Allowance 14,900 95,800 Accrued liabilities 5,000 Inventory 168,600 Common stock (par $5) 260,900 Prepaid insurance 8,000 Retained earnings 138,200 Land 19,800 Equipment (net) 149,000 $485,900 $485,900 ORIOLE INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue $1,391,400 Cost of goods sold Inventory, Jan. 1, 2020 $199,400 Purchases 784,400 Cost...
Presented below is information related to Sunland Inc.
SUNLAND INC.
BALANCE SHEET
DECEMBER 31, 2020
Cash
$44,900
Notes payable (short-term)
$50,000
Receivables
$109,800
Accounts payable
32,000
Less: Allowance
15,100
94,700
Accrued liabilities
5,100
Inventory
171,200
Common stock (par $5)
261,800
Prepaid insurance
8,100
Retained earnings
141,000
Land
20,200
Equipment (net)
150,800
$489,900
$489,900
SUNLAND INC.
INCOME STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 2020
Sales revenue
$1,401,600
Cost of goods sold
Inventory, Jan. 1, 2020
$199,600
Purchases
796,000
Cost...
Presented below is information related to Pronghorn Inc. PRONGHORN INC. BALANCE SHEET DECEMBER 31, 2020 Cash $44,900 Notes payable (short-term) $50,000 Receivables $109,800 Accounts payable 32,000 Less: Allowance 15,100 94,700 Accrued liabilities 5,100 Inventory 171,200 Common stock (par $5) 261,800 Prepaid insurance 8,100 Retained earnings 141,000 Land 20,200 Equipment (net) 150,800 $489,900 $489,900 PRONGHORN INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue $1,401,600 Cost of goods sold Inventory, Jan. 1, 2020 $199,600 Purchases 796,000 Cost...
Presented below is information related to Pina Inc. $111,000 14,800 Cash Receivables Less: Allowance Inventory Prepaid insurance Land Equipment (net) PINA INC. BALANCE SHEET DECEMBER 31, 2020 $45,100 Notes payable (short-term) Accounts payable 96,200 Accrued liabilities 169,300 Common stock (par $5) 8,100 Retained earnings 19,900 150,500 $489,100 $50,300 31,700 5,100 259,100 142,900 $489,100 $1,401,400 PINA INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue Cost of goods sold Inventory, Jan. 1, 2020 $ 201,900 Purchases 797,500 Cost...
E13.19 (LO 4) (Ratio Computations and Effect of Transactions) Presented below is information related to Carver Inc. Carver Inc. Balance Sheet December 31, 2020 Cash $ 45,000 Notes payable (short-term) $ 50,000 Receivables $110,000 Accounts payable 32,000 Less: Allowance 15,000 95,000 Accrued liabilities 5,000 Inventory 170,000 Common stock (par $5) 260,000 Prepaid insurance 8,000 Retained earnings 141,000 Land 20,000 Equipment (net) 150,000 $488,000 $488,000 Carver Inc. Income Statement For the Year Ended December 31, 2020 Sales revenue $1,400,000 Cost of...
The transactions relating to the formation of Blue Co. Stores Inc., and its first month of operations follow. a. The firm was organized and the stockholders invested cash of $8,100. b. The firm borrowed $5,300 from the bank; a short-term note was signed. c. Display cases and other store equipment costing $1,700 were purchased for cash. The original list price of the equipment was $1,980, but a discount was received because the seller was having a sale. d. A store...