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Amiel Company reported sales revenue of $20.3 million and expenses of $11.1 million in 20X1, excluding...
please be clear Amiel Company reported sales revenue of $20.3 million and expenses of $111 million...
please be clear
Amiel Company reported sales revenue of $20.3 million and expenses of $111 million in 20x1, excluding the results of its 80%-owned subsidiary, Talia Company. Talia had $70 million of sales revenue and $3.0 million of expenses in 20x1.Ignore income taxes. Required: Prepare Amiel's consolidated income statement for 20X1. (Enter your answers in millions rounded to 1 decimal place.) Answer is not complete. Amiel Company and Subsidiary Consolidated Statement of Income For the Year Ended December 31, 20X1...
For the fiscal year ending December 31, 2020, Blossom Ltd. reported sales revenue of $7,338,000 and...
For the fiscal year ending December 31, 2020, Blossom Ltd. reported sales revenue of $7,338,000 and cost of goods sold of $5,743,000. The company had selling and administrative expenses of $440,000. During the year, the company sold some equipment for a gain of $24,200, and had unrealized holding gains on investments designated as fair value through other comprehensive income (OCI) of $4,900. Prepare a combined statement of comprehensive income. Ignore taxes and earnings per share (EPS). Blossom Ltd. Statement of...
For a recent year, McDugal's company-owned restaurants had the following sales and expenses (in millions): Sales...
For a recent year, McDugal's company-owned restaurants had the following sales and expenses (in millions): Sales $23,900 Food and packaging $9,667 Payroll 6,300 Occupancy (rent, depreciation, etc.) 4,233 General, selling, and admin. expenses 3,700 Other expense 480 Total expenses (24,380) Operating income (loss) $(480) Assume that the variable costs consist of food and packaging, payroll, and 40% of the general, selling, and administrative expenses. a. What is McDonald's contribution margin? Enter your answer in million, rounded to one decimal place....
Suppose in its income statement for the year ended June 30, 2022, The Clorox Company reported...
Suppose in its income statement for the year ended June 30, 2022, The Clorox Company reported the following condensed data (dollars in millions). Salaries and wages expenses $ 449 Research and development expense $ 109 Depreciation expense 90 Income tax expense 275 Sales revenue 5,619 Loss on disposal of plant assets 46 Interest expense 156 Cost of goods sold 3,060 Advertising expense 489 Rent expense 102 Sales returns and allowances 266 Utilities expense 57 Assume the marketing department has presented...
For a recent year, McDugal's company-owned restaurants had the following sales and expenses (in millions): Sales...
For a recent year, McDugal's company-owned restaurants had the following sales and expenses (in millions): Sales $14,400 Food and packaging $3,960 Payroll 3,800 Occupancy (rent, depreciation, etc.) General, selling, and admin, expenses 4,440 2,200 Other expense 290 Total expenses Operating income (loss) (14,690) $(290) Assume that the variable costs consist of food and packaging, payroll, and 40% of the general, selling, and administrative expenses. a. What is McDonald's contribution margin? Enter your answer in million, rounded to one decimal place....
Plaza Company acquires an 80% interest in Scenic Company for $200,000 cash on January 1, 20X1....
Plaza Company acquires an 80% interest in Scenic Company for $200,000 cash on January 1, 20X1. On that date, Scenic’s equipment (remaining economic life of 5 years) is undervalued by $25,000; any excess of cost over book value is attributed to goodwill. Scenic’s balance sheet on the date of the purchase is as follows: Assets Liabilities and Equity Cash $ 30,000 Current liabilities $ 30,000 Inventory 30,000 Long-term liabilities 40,000 Property, (net) 210,000 Common Stock (no par) 150,000 Retained Earnings...
32. Matlock Company reported total sales revenue of $55,000 and total expenses amounting to $45,000 (i.e.,...
32. Matlock Company reported total sales revenue of $55,000 and total expenses amounting to $45,000 (i.e., net income $10,000) on its income statement for the year ended December 31, 20B. During 20B, accounts receivable decreased by $4,000, merchandise inventory decreased by $6,000, accounts payable increased by $2,000 and depreciation of $8,000 was recorded. Therefore, based only on this information, the net cash flow from operating activities for 20B was: A) $10,000 B) $18,000 C) $19,000 D) $30,000 E) None of...
Current Attempt in Progress In 2015, Canadian Tire reported sales revenue of $12,279.6 million, cost of...
Current Attempt in Progress In 2015, Canadian Tire reported sales revenue of $12,279.6 million, cost of goods sold of $7,747.1 million, and net income of $735.9 million. In 2014, it reported sales revenue of $12,462.9 million, cost of goods sold of $8,033.2 million, and net income of $639.3 million Calculate the gross profit margin and profit margin for each year. (Round answers to 1 decimal place, e.g. 5.2%) 2015 2014 Gross profit margin Profit margin Culver Limited reports the following...
(c1) Assume the marketing department has presented a plan to increase advertising expenses by $340 million....
(c1) Assume the marketing department has presented a plan to increase advertising expenses by $340 million. It expects this plan to result in an increase in both net sales and cost of goods sold of 20%. (Hint: Increase both sales revenue and sales returns and allowances by 25%.) Redo parts (a) and (b) and discuss whether this plan has merit. (Assume a tax rate of 34%, and round all amounts to whole dollars.) Prepare a multiple-step income statement. (Round answers...
Suppose in its income statement for the year ended June 30, 2022, The Clorox Company reported...
Suppose in its income statement for the year ended June 30, 2022, The Clorox Company reported the following condensed data (dollars in millions). Salaries and wages expenses $ 449 Research and development expense $ 109 Depreciation expense 90 Income tax expense 275 Sales revenue 5,619 Loss on disposal of plant assets 46 Interest expense 156 Cost of goods sold 3,060 Advertising expense 489 Rent expense 102 Sales returns and allowances 266 Utilities expense 57 Calculate the gross profit rate and...
please be clear
Amiel Company reported sales revenue of $20.3 million and expenses of $111 million in 20x1, excluding the results of its 80%-owned subsidiary, Talia Company. Talia had $70 million of sales revenue and $3.0 million of expenses in 20x1.Ignore income taxes. Required: Prepare Amiel's consolidated income statement for 20X1. (Enter your answers in millions rounded to 1 decimal place.) Answer is not complete. Amiel Company and Subsidiary Consolidated Statement of Income For the Year Ended December 31, 20X1...
For the fiscal year ending December 31, 2020, Blossom Ltd. reported sales revenue of $7,338,000 and cost of goods sold of $5,743,000. The company had selling and administrative expenses of $440,000. During the year, the company sold some equipment for a gain of $24,200, and had unrealized holding gains on investments designated as fair value through other comprehensive income (OCI) of $4,900. Prepare a combined statement of comprehensive income. Ignore taxes and earnings per share (EPS). Blossom Ltd. Statement of...
For a recent year, McDugal's company-owned restaurants had the following sales and expenses (in millions): Sales $23,900 Food and packaging $9,667 Payroll 6,300 Occupancy (rent, depreciation, etc.) 4,233 General, selling, and admin. expenses 3,700 Other expense 480 Total expenses (24,380) Operating income (loss) $(480) Assume that the variable costs consist of food and packaging, payroll, and 40% of the general, selling, and administrative expenses. a. What is McDonald's contribution margin? Enter your answer in million, rounded to one decimal place....
For a recent year, McDugal's company-owned restaurants had the following sales and expenses (in millions): Sales $14,400 Food and packaging $3,960 Payroll 3,800 Occupancy (rent, depreciation, etc.) General, selling, and admin, expenses 4,440 2,200 Other expense 290 Total expenses Operating income (loss) (14,690) $(290) Assume that the variable costs consist of food and packaging, payroll, and 40% of the general, selling, and administrative expenses. a. What is McDonald's contribution margin? Enter your answer in million, rounded to one decimal place....
32. Matlock Company reported total sales revenue of $55,000 and total expenses amounting to $45,000 (i.e., net income $10,000) on its income statement for the year ended December 31, 20B. During 20B, accounts receivable decreased by $4,000, merchandise inventory decreased by $6,000, accounts payable increased by $2,000 and depreciation of $8,000 was recorded. Therefore, based only on this information, the net cash flow from operating activities for 20B was: A) $10,000 B) $18,000 C) $19,000 D) $30,000 E) None of...
Current Attempt in Progress In 2015, Canadian Tire reported sales revenue of $12,279.6 million, cost of goods sold of $7,747.1 million, and net income of $735.9 million. In 2014, it reported sales revenue of $12,462.9 million, cost of goods sold of $8,033.2 million, and net income of $639.3 million Calculate the gross profit margin and profit margin for each year. (Round answers to 1 decimal place, e.g. 5.2%) 2015 2014 Gross profit margin Profit margin Culver Limited reports the following...
(c1) Assume the marketing department has presented a plan to increase advertising expenses by $340 million. It expects this plan to result in an increase in both net sales and cost of goods sold of 20%. (Hint: Increase both sales revenue and sales returns and allowances by 25%.) Redo parts (a) and (b) and discuss whether this plan has merit. (Assume a tax rate of 34%, and round all amounts to whole dollars.) Prepare a multiple-step income statement. (Round answers...
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