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Exercise 1-11 Vaughn Manufacturing is the world's leading producer of ready-to-eat cereal and a leading producer...
Kellogg Company is the world's leading producer of ready-to-eat cereal anda leading producer of grain-based convenience...
Kellogg Company is the world's leading producer of ready-to-eat cereal anda leading producer of grain-based convenience foods such as frozen waffles and cereal bars. Suppose the following items were taken from its 2022 income statement and balance sheet. (All dollars are in millions] Retained earning Cost of goods sold Selling and administrative expenses Cash Notes payable Interest Expense $5,900 7,250 3050 340 Bonds payable Inventory Sales revenue Accounts payable Common stock Income tax expense $5.400 B90 12,700 1,160 140 660...
I can't seem to get the numbers right... i feel like i have the right calculations...
I can't seem to get the numbers
right... i feel like i have the right calculations but cant put it
in right!
Question 4 0.79/1 Coronado Industries is the world's leading producer of ready-to-eat cereal and a leading producer of grain-based convenience foods such as frozen waffles and cereal bars. Suppose the following items were taken from its 2017 income statement and balance sheet. (All dollars are in millions.) Retained earnings Cost of goods sold Selling and administrative expenses Cash...
help On June 1, 2017, Vaughn Manufacturing was started with an initial investment in the company...
help
On June 1, 2017, Vaughn Manufacturing was started with an initial investment in the company of $22.410 cash. Here are the assets, liabl and common stock of the company at June 30, 2017, and the revenues and expenses for the month of June, its first month of operations Cash $5,420 Notes payable $13,640 Accounts receivable Accounts payable 970 4,470 8,320 Service revenue Supplies expense 1,080 Supplies Maintenance and repairs expense 680 Advertising expense 2,320 400 26,820 Utilities expense 220...
Question 7 View Policies Show Attempt History Current Attempt in Progress Vaughn Manufacturing is a private...
Question 7 View Policies Show Attempt History Current Attempt in Progress Vaughn Manufacturing is a private camping ground near the Mount Miguel Recreation Area. It has compiled the December 31, 2017. Service revenue (from camping fees) $168,960 Dividends $11,520 Sales revenue (from general store) 64,000 32,000 14,080 Notes payable Expenses during 2017 Accounts payable 161,280 Cash Supplies 7,040 10,880 145,920 Equipment Common stock 51,200 Retained earnings (1/1/2017) 6,400 Vaughn Manufacturing Retained Earnings Statement For the Year Ended December 31, 2017...
The following are financial statements of Vaughn Manufacturing. Vaughn Manufacturing Income Statement For the Year Ended...
The following are financial statements of Vaughn
Manufacturing.
Vaughn Manufacturing
Income Statement
For the Year Ended December 31, 2017
Net sales
$2,230,600
Cost of goods sold
1,028,200
Selling and administrative expenses
924,400
Interest expense
90,300
Income tax expense
70,610
Net income
$ 117,090
Vaughn Manufacturing
Balance Sheet
December 31, 2017
Assets
Current assets
Cash
$ 72,200
Debt investments
85,610
Accounts receivable (net)
189,000
Inventory
162,400
Total current assets
509,210
Plant assets (net)
591,100
Total assets
$ 1,100,310
Liabilities and Stockholders’...
Problem 12-9A Your answer is partially correct. Try again. Condensed financial data of Vaughn Manufacturing follow...
Problem 12-9A Your answer is partially correct. Try again. Condensed financial data of Vaughn Manufacturing follow Vaughn Manufacturing Comparative Balance Sheets December 31 Assets 2017 2016 $109,080 $65,340 Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total 51,300 138,848 35,100 147,150 118,530 151,875 38,340 186,300 384,750327,375 (67,500)(70,200) $921,375 $694,913 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock $ 137,700 22,275 148,500 297,000 315,900 $921,375 $90,855 28,350 197,100 236,250 142,358 $694,913 Retained...
Vaughn Manufacturing Balance Sheet July 31, 2017 Assets Total Assets Liabilities and Stockholders' Equity Exercise 2-8...
Vaughn Manufacturing Balance Sheet July 31, 2017 Assets Total Assets Liabilities and Stockholders' Equity Exercise 2-8 (Part Level Submission) These financial statement items are for Vaughn Manufacturing at year-end, July 31, 2017. Salaries and wages payable Salaries and wages expense Supplies expense Equipment Accounts payable Service revenue Rent revenue Notes payable (due in 2020) Common stock Cash Accounts receivable Accumulated depreciation equipment Dividends Depreciation expense Retained earnings (beginning of the year) $ 3,580 59,100 17,100 20,000 4,100 67,700 10,000 3,300...
Vaughn Company's income statement for the year ended December 31, 2017, contained the following condensed informati...
Vaughn Company's income statement for the year ended December 31, 2017, contained the following condensed information Service revenue $847,000 Operating expenses (excluding depreciation) $629,000 Depreciation expense 60,000 Loss on sale of equipment 26,000 715,000 Income before income taxes 132,000 Income tax expense 41,000 $91,000 Net income Vaughn's balance sheet contained the following comparative data at December 31 2017 2016 Accounts receivable $35,000 $53,000 Accounts payable 42,000 30,000 Income taxes payable 4,100 8,800 (Accounts payable pertains to operating expenses.) Prepare the...
Electronic Arts is the world's leading developer and publisher of interactive entertainment software for personal computers...
Electronic Arts is the world's leading developer and publisher of interactive entertainment software for personal computers and advanced entertainment systems made by Sony, Nintendo, and Microsoft. Assume that the company is revising its methods for displaying its financial statements, and the controller in the accounting department has asked you to create electronic worksheets that the department can use as its standard format for financial statement reporting. The controller has provided you with an alphabetical list of statement categories and account...
The income statement for Western Grain Company, a producer of agricultural products for industrial as well...
The income statement for Western Grain Company, a producer of agricultural products for industrial as well as consumer markets, is shown here. Western Grain’s total assets are $4,237.1 million, and its equity is $1,713.4 million. Consolidated Earnings and Retained Earnings Year Ended December 31 (Millions) 2017 Net sales $6,295.4 Cost of goods sold 2,989.0 Selling and administrative expense 2,237.5 Operating profit 1,068.9 Interest expense 33.3 Other income (expense), net (1.5) Earnings before income taxes 1,034.1 Income taxes 353.4 Net earnings...
Kellogg Company is the world's leading producer of ready-to-eat cereal anda leading producer of grain-based convenience foods such as frozen waffles and cereal bars. Suppose the following items were taken from its 2022 income statement and balance sheet. (All dollars are in millions] Retained earning Cost of goods sold Selling and administrative expenses Cash Notes payable Interest Expense $5,900 7,250 3050 340 Bonds payable Inventory Sales revenue Accounts payable Common stock Income tax expense $5.400 B90 12,700 1,160 140 660...
I can't seem to get the numbers
right... i feel like i have the right calculations but cant put it
in right!
Question 4 0.79/1 Coronado Industries is the world's leading producer of ready-to-eat cereal and a leading producer of grain-based convenience foods such as frozen waffles and cereal bars. Suppose the following items were taken from its 2017 income statement and balance sheet. (All dollars are in millions.) Retained earnings Cost of goods sold Selling and administrative expenses Cash...
help
On June 1, 2017, Vaughn Manufacturing was started with an initial investment in the company of $22.410 cash. Here are the assets, liabl and common stock of the company at June 30, 2017, and the revenues and expenses for the month of June, its first month of operations Cash $5,420 Notes payable $13,640 Accounts receivable Accounts payable 970 4,470 8,320 Service revenue Supplies expense 1,080 Supplies Maintenance and repairs expense 680 Advertising expense 2,320 400 26,820 Utilities expense 220...
Question 7 View Policies Show Attempt History Current Attempt in Progress Vaughn Manufacturing is a private camping ground near the Mount Miguel Recreation Area. It has compiled the December 31, 2017. Service revenue (from camping fees) $168,960 Dividends $11,520 Sales revenue (from general store) 64,000 32,000 14,080 Notes payable Expenses during 2017 Accounts payable 161,280 Cash Supplies 7,040 10,880 145,920 Equipment Common stock 51,200 Retained earnings (1/1/2017) 6,400 Vaughn Manufacturing Retained Earnings Statement For the Year Ended December 31, 2017...
The following are financial statements of Vaughn
Manufacturing.
Vaughn Manufacturing
Income Statement
For the Year Ended December 31, 2017
Net sales
$2,230,600
Cost of goods sold
1,028,200
Selling and administrative expenses
924,400
Interest expense
90,300
Income tax expense
70,610
Net income
$ 117,090
Vaughn Manufacturing
Balance Sheet
December 31, 2017
Assets
Current assets
Cash
$ 72,200
Debt investments
85,610
Accounts receivable (net)
189,000
Inventory
162,400
Total current assets
509,210
Plant assets (net)
591,100
Total assets
$ 1,100,310
Liabilities and Stockholders’...
Problem 12-9A Your answer is partially correct. Try again. Condensed financial data of Vaughn Manufacturing follow Vaughn Manufacturing Comparative Balance Sheets December 31 Assets 2017 2016 $109,080 $65,340 Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total 51,300 138,848 35,100 147,150 118,530 151,875 38,340 186,300 384,750327,375 (67,500)(70,200) $921,375 $694,913 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock $ 137,700 22,275 148,500 297,000 315,900 $921,375 $90,855 28,350 197,100 236,250 142,358 $694,913 Retained...
Vaughn Manufacturing Balance Sheet July 31, 2017 Assets Total Assets Liabilities and Stockholders' Equity Exercise 2-8 (Part Level Submission) These financial statement items are for Vaughn Manufacturing at year-end, July 31, 2017. Salaries and wages payable Salaries and wages expense Supplies expense Equipment Accounts payable Service revenue Rent revenue Notes payable (due in 2020) Common stock Cash Accounts receivable Accumulated depreciation equipment Dividends Depreciation expense Retained earnings (beginning of the year) $ 3,580 59,100 17,100 20,000 4,100 67,700 10,000 3,300...
Vaughn Company's income statement for the year ended December 31, 2017, contained the following condensed information Service revenue $847,000 Operating expenses (excluding depreciation) $629,000 Depreciation expense 60,000 Loss on sale of equipment 26,000 715,000 Income before income taxes 132,000 Income tax expense 41,000 $91,000 Net income Vaughn's balance sheet contained the following comparative data at December 31 2017 2016 Accounts receivable $35,000 $53,000 Accounts payable 42,000 30,000 Income taxes payable 4,100 8,800 (Accounts payable pertains to operating expenses.) Prepare the...
Electronic Arts is the world's leading developer and publisher of interactive entertainment software for personal computers and advanced entertainment systems made by Sony, Nintendo, and Microsoft. Assume that the company is revising its methods for displaying its financial statements, and the controller in the accounting department has asked you to create electronic worksheets that the department can use as its standard format for financial statement reporting. The controller has provided you with an alphabetical list of statement categories and account...
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