Homework Answers
Correct answer is option a.
To calculate the cash produced by the business,it is necessary to add the depreciation charge back to accounting profits.The reason being depreciation is non cash expenses and it has to deduct to claim tax benefits and at the same time has to add back to net income to figure out cash flow from operation.
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ed by the business, it is necessary to add the Which of the following statements about...
Can you assist me with Accounting? The question comes from Understanding Financial Statements 11th ed. by...
Can you assist me with
Accounting? The question comes from Understanding Financial
Statements 11th ed. by Fraser and it's chapter 4, Problem 9SQP.
Accrued wages payable Interest payable Income tax payable Bonds payable Capital stock Paid-in capital Retained earnings 4.450 3.600 Total Liabilities and Equity $ 8,570 $ 7.320 Income Statement for Year Ended December 31, 2015 Sales 9.500 Cost of goods sold 6,650 Gross profit Other expenses Selling and administrative 1,200 Depreciation Interest Condensed financial statements for Dragoon Enterprises...
can you please give feed back to this.. like add something or give a comment about...
can you please give feed back to this.. like add something or give a comment about the following posts. 1) Profit Margin = NetincomeSales Profit margin is very useful in analyzing the financial health of the firm because it indicates how much money is generated per every dollar in sales. A higher profit margin means there are low expense ratios relative to sales. In other words, it tells us how a company uses its income. When a company has a...
Which of the following is NOT true about financial statements?
5.Which of the following is NOT true about financial statements?the balance sheet reports the financial position of a business at a particular point in timethe income statement reports the net cash received during the period as a result of operating activitiesthe statement of cash flows reports the inflows and outflows of cash for the periodthe statement of stockholders' equity includes information about net income and dividends for the period6.Which of the following best describes the purpose of the balance sheet?summarize...
1. Which of the following statements is true about independent projects? a.Independent projects are projects that, if ac...
1. Which of the following statements is true about independent projects? a.Independent projects are projects that, if accepted, have to accept one small project to assist other independent projects. b.Independent projects are projects that, if accepted or rejected, do not affect the cash flows of other projects. c.Independent projects are projects that, if accepted, have a negative effect on the company's profit. d.Independent projects are projects that, if accepted or rejected, affect the net profit of other projects. 2. An...
Fiter Plc is a pharmaceuticals company that is into the business of research and manufacture of...
Fiter Plc is a pharmaceuticals company that is into the business of research and manufacture of new vaccines for rare and critical diseases. The company's financial year ended on 30 September 2019. The following information is provided to you and each case you are required to determine how the transactions would appear in Fiter's financial statements at the financial year end. You are required to prepare only one set of financial statements reflecting all the transactions. You are also required...
All of the following statements are correct, EXCEPT: a. Temporary accounts are closed at the end...
All of the following statements are correct, EXCEPT: a. Temporary accounts are closed at the end of the accounting period to retained earnings. b. Asset, liability, and stockholders' equity accounts are referred to as permanent accounts. c. Adjusting entries are necessary when cash flow and the economic transaction occur in the same accounting period d. Revenue, expense, and dividend accounts are described as temporary accounts. e. Closing entries prepare accounting records for the next accounting period. At the end of...
o ne of the three forms of business organization? Which of the following a Corporations b....
o ne of the three forms of business organization? Which of the following a Corporations b. Partnerships C. Proprietorships d. Investors An advantage of the corporate form of business is that a it has limited life b. its owner's personal resources are at stake. its ownership is easily transferable via the sale of shares of stock. d it is simple to establish 3. Bened Benedict Company compiled the following financial information as of December 31, 2022: Service revenue S1.120,000 Common...
The following information was taken from the accounting records of Tech Inc. for the financial year...
The following information was taken from the accounting records of Tech Inc. for the financial year 2019. The number of units of widgets produced is 2000. R&D, marketing and customer service expenses Ending work-in-process inventory Indirect manufacturing labour Beginning finished goods inventory Machinery leasing cost Beginning direct material inventory Ending finished goods inventory Ending direct material inventory Beginning work-in-process inventory Purchase of direct material I Miscellaneous production overheads Depreciation on production plant Direct manufacturing labour Factory supplies used Factory utilities...
please i need help completing this table thank you Refer to the following financial statements for...
please i need help completing this table thank you
Refer to the following financial statements for Crosby Corporation: CROSBY CORPORATION Income Statement For the Year Ended December 31, 20X2 3,990,000 2,480,000 1,510,000 744,000 261,000 505,000 87,300 417,700 223,000 194,700 10,000 184,700 150,000 1.23 Sales Cost of goods sold Gross profit Selling and administrative expense Depreciation expense Operating income Interest expense Earnings before taxes Taxes Earnings after taxes Preferred stock dividends Earnings available to common stockholders Shares outstanding Earnings per share...
Refer to the following financial statements for Crosby CROSBY CORPORATION Income Statement For the Year Ended...
Refer to the following financial statements for Crosby CROSBY CORPORATION Income Statement For the Year Ended December 31, 20X2 Sales Cost of goods sold $4,110,000 2,680,000 $1,430,000 729,000 298,000 $ 403,000 80,700 S 322,300 210,000 $ 112,300 10,000 Gross profit Selling and administrative expense Depreciation expense Operating income Interest expense Earnings before taxes Taxes Earnings after taxes Preferred stock dividends Earnings available to common stockholders Shares outstanding Earnings per share 102,300 150,000 อ. 68 Statement of Retained Earnings For the...
Can you assist me with
Accounting? The question comes from Understanding Financial
Statements 11th ed. by Fraser and it's chapter 4, Problem 9SQP.
Accrued wages payable Interest payable Income tax payable Bonds payable Capital stock Paid-in capital Retained earnings 4.450 3.600 Total Liabilities and Equity $ 8,570 $ 7.320 Income Statement for Year Ended December 31, 2015 Sales 9.500 Cost of goods sold 6,650 Gross profit Other expenses Selling and administrative 1,200 Depreciation Interest Condensed financial statements for Dragoon Enterprises...
Fiter Plc is a pharmaceuticals company that is into the business of research and manufacture of new vaccines for rare and critical diseases. The company's financial year ended on 30 September 2019. The following information is provided to you and each case you are required to determine how the transactions would appear in Fiter's financial statements at the financial year end. You are required to prepare only one set of financial statements reflecting all the transactions. You are also required...
o ne of the three forms of business organization? Which of the following a Corporations b. Partnerships C. Proprietorships d. Investors An advantage of the corporate form of business is that a it has limited life b. its owner's personal resources are at stake. its ownership is easily transferable via the sale of shares of stock. d it is simple to establish 3. Bened Benedict Company compiled the following financial information as of December 31, 2022: Service revenue S1.120,000 Common...
The following information was taken from the accounting records of Tech Inc. for the financial year 2019. The number of units of widgets produced is 2000. R&D, marketing and customer service expenses Ending work-in-process inventory Indirect manufacturing labour Beginning finished goods inventory Machinery leasing cost Beginning direct material inventory Ending finished goods inventory Ending direct material inventory Beginning work-in-process inventory Purchase of direct material I Miscellaneous production overheads Depreciation on production plant Direct manufacturing labour Factory supplies used Factory utilities...
please i need help completing this table thank you
Refer to the following financial statements for Crosby Corporation: CROSBY CORPORATION Income Statement For the Year Ended December 31, 20X2 3,990,000 2,480,000 1,510,000 744,000 261,000 505,000 87,300 417,700 223,000 194,700 10,000 184,700 150,000 1.23 Sales Cost of goods sold Gross profit Selling and administrative expense Depreciation expense Operating income Interest expense Earnings before taxes Taxes Earnings after taxes Preferred stock dividends Earnings available to common stockholders Shares outstanding Earnings per share...
Refer to the following financial statements for Crosby CROSBY CORPORATION Income Statement For the Year Ended December 31, 20X2 Sales Cost of goods sold $4,110,000 2,680,000 $1,430,000 729,000 298,000 $ 403,000 80,700 S 322,300 210,000 $ 112,300 10,000 Gross profit Selling and administrative expense Depreciation expense Operating income Interest expense Earnings before taxes Taxes Earnings after taxes Preferred stock dividends Earnings available to common stockholders Shares outstanding Earnings per share 102,300 150,000 อ. 68 Statement of Retained Earnings For the...
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