Homework Answers
Using the data provided from the general ledger and supplementary records of Company Jack, compute for the missing amounts.
Using the data provided from the general ledger and supplementary records of Company Jack, compute for the missing amounts.dgvds.png
Need help finding missing numbers i7 Solve for the missing income Statement data below for years...
Need help finding missing numbers
i7 Solve for the missing income Statement data below for years 1-4. Assume an income tax rate of 40% for all years. Year 1 Year 2 Year 3 Year 4 2 Sales 1 Cost of goods sold 2Gross margin z Operating expenses 12,011 14,533 3,011 3,419 8,976 5,790 9,372 6,201 Operating income (EBIT) 6,780 3,650 2,799 1,679 1,007 2,547 s Interest expense s Earnings before taxes (EBT) 945 800 corporate taxes (40%) Net Income 1,050...
Jack and Jill Brady are married. Jack is 42 years old and a design engineer for a manufacturing company. Jill is 45 year...
Jack and Jill Brady are married. Jack is 42 years old and a design engineer for a manufacturing company. Jill is 45 years old and runs a craft business from their home. Jill spends considerable time and effort on her craft business and it has been consistently profitable over the years. The Brady’s have one child Julia, age 16. Julia is a high school student and works for a landscaping business during the summer—she earned $5,500 in 2018 Income: Jacks...
Review the Statement of Cash Flows for Jack in the Box (JACK). 1. Does JACK use...
Review the Statement of Cash Flows for Jack in the Box (JACK). 1. Does JACK use the direct or indirect method? 2. Looking at the adjustment for prepaid expenses and other current assets for 2018, did JACK pre-pay additional expenses or use up expenses previously pre-paid? Why? 3. We are given the gains from the sale of company-operated restaurants and the proceeds from the sale of those restaurants. Given that information for 2018, what was the book value of the...
a. Fill in the missing numbers in the following income statement: (Do not round intermediate calculations...
a. Fill in the missing numbers in the following income statement: (Do not round intermediate calculations and round your answers to the nearest whole number, e.g. 32.) 565,600 356,800 105,700 Sales Costs Depreciation EBIT Taxes (24%) Net income b. What is the OCF? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g. 32.) c. What is the depreciation tax shield? (Do not round intermediate calculations and round your answer to the nearest whole number,...
a. Fill in the missing numbers in the following income statement: (Do not round intermediate calculations...
a. Fill in the missing numbers in the following income statement: (Do not round intermediate calculations and round your answers to the nearest whole number, e.g. 32.) Sales $ 643,700 Costs 384,300 Depreciation 136,500 EBIT ? Taxes (25%) ? Net Income ? b. What is the OCF? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g. 32.) c. What is the depreciation tax shield? (Do not round intermediate calculations and round your answer to...
fill in the missing numbers Consider the following data provided for each of the following independent...
fill in the missing numbers
Consider the following data provided for each of the following independent cases. For each case assume that the business uses a standard cost system and a flexible budget to control variable and fixed manufacturing overhead, and applies manufacturing overhead on the basis of direct labour hours. Fill in the blanks for each case, and indicate whether the variances are favourable (F) or unfavourable (U). Phi Company Pho Company Number of labour hours budgeted $10,600 hrs...
a. Fill in the missing numbers in the following income statement: (Do not round intermediate calculations...
a. Fill in the missing numbers in the following income statement: (Do not round intermediate calculations and round your answers to the nearest whole number, e.g. 32.) $ 601,100 369,300 119,700 Sales Costs Depreciation EBIT Taxes (24%) Net income b. What is the OCF? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g. 32.) c. What is the depreciation tax shield? (Do not round intermediate calculations and round your answer to the nearest whole...
a. Fill in the missing numbers in the following income statement: (Do not round intermediate calculations...
a. Fill in the missing numbers in the following income statement: (Do not round intermediate calculations and round your answers to the nearest whole number, e.g. 32) $ 615,300 374,300 125,300 Sales Costs Depreciation EBIT Taxes (21%) Net income b. What is the OCF? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g. 32.) c. What is the depreciation tax shield? (Do not round intermediate calculations and round your answer to the nearest whole...
Fill in the missing numbers for the following income statement. (Do not round intermediate calculations.) $...
Fill in the missing numbers for the following income statement. (Do not round intermediate calculations.) $ Sales Costs Depreciation EBIT Taxes (21%) Net income 666,800 429,200 102,800 134,800 28,308 106,492 S $ b. Calculate the OCF. (Do not round intermediate calculations.) c. What is the depreciation tax shield? (Do not round intermediate calculations.) b. OCF c. Depreciation tax shield 21,588
Need help finding missing numbers
i7 Solve for the missing income Statement data below for years 1-4. Assume an income tax rate of 40% for all years. Year 1 Year 2 Year 3 Year 4 2 Sales 1 Cost of goods sold 2Gross margin z Operating expenses 12,011 14,533 3,011 3,419 8,976 5,790 9,372 6,201 Operating income (EBIT) 6,780 3,650 2,799 1,679 1,007 2,547 s Interest expense s Earnings before taxes (EBT) 945 800 corporate taxes (40%) Net Income 1,050...
Review the Statement of Cash Flows for Jack in the Box (JACK). 1. Does JACK use the direct or indirect method? 2. Looking at the adjustment for prepaid expenses and other current assets for 2018, did JACK pre-pay additional expenses or use up expenses previously pre-paid? Why? 3. We are given the gains from the sale of company-operated restaurants and the proceeds from the sale of those restaurants. Given that information for 2018, what was the book value of the...
a. Fill in the missing numbers in the following income statement: (Do not round intermediate calculations and round your answers to the nearest whole number, e.g. 32.) 565,600 356,800 105,700 Sales Costs Depreciation EBIT Taxes (24%) Net income b. What is the OCF? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g. 32.) c. What is the depreciation tax shield? (Do not round intermediate calculations and round your answer to the nearest whole number,...
fill in the missing numbers
Consider the following data provided for each of the following independent cases. For each case assume that the business uses a standard cost system and a flexible budget to control variable and fixed manufacturing overhead, and applies manufacturing overhead on the basis of direct labour hours. Fill in the blanks for each case, and indicate whether the variances are favourable (F) or unfavourable (U). Phi Company Pho Company Number of labour hours budgeted $10,600 hrs...
a. Fill in the missing numbers in the following income statement: (Do not round intermediate calculations and round your answers to the nearest whole number, e.g. 32.) $ 601,100 369,300 119,700 Sales Costs Depreciation EBIT Taxes (24%) Net income b. What is the OCF? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g. 32.) c. What is the depreciation tax shield? (Do not round intermediate calculations and round your answer to the nearest whole...
a. Fill in the missing numbers in the following income statement: (Do not round intermediate calculations and round your answers to the nearest whole number, e.g. 32) $ 615,300 374,300 125,300 Sales Costs Depreciation EBIT Taxes (21%) Net income b. What is the OCF? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g. 32.) c. What is the depreciation tax shield? (Do not round intermediate calculations and round your answer to the nearest whole...
Fill in the missing numbers for the following income statement. (Do not round intermediate calculations.) $ Sales Costs Depreciation EBIT Taxes (21%) Net income 666,800 429,200 102,800 134,800 28,308 106,492 S $ b. Calculate the OCF. (Do not round intermediate calculations.) c. What is the depreciation tax shield? (Do not round intermediate calculations.) b. OCF c. Depreciation tax shield 21,588
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