Homework Answers
net sales
when a vertical analysis is done on an income statement,the base amount for the calculation of every item will be the net sales.that is the net sales percentage will be 100% ((net sales/net sales)*100).the depreciation expense percentage will be calculated by dividing the depreciation expense for the accounting period by net sales and multiply this amount with 100.that is
depreciation expense %=(depreciation expense for the accounting period/net sales)*100
depreciation charge is included in the income statement onl if the asset is used in production.
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3 pts Question 10 In vertical analysis, the base amount for computing the percentage for depreciation...
This Question: 10 pts 16 of 44 In performing vertical analysis, the base for operating expenses...
This Question: 10 pts 16 of 44 In performing vertical analysis, the base for operating expenses is: O A. gross profit B. net sales. OC. operating income. OD. net income. Click to select your answer.
just need help figuering out the percentage and part b Vertical Analysis of Income Statement Revenue...
just need help figuering out the percentage and part b
Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Year Previous Year Sales $405,000 $352,000 Cost of goods sold 275,400 221,760 Selling expenses 52,650 52,800 Administrative expenses 56,700 45,760 Income tax expense 8,100 14,080 a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. If required, round percentages to...
1 pts In performing a vertical analysis of an income statement, which of the following is...
1 pts In performing a vertical analysis of an income statement, which of the following is used as the base amount? X Total expenses Net sales Gross profit O Cost of goods sold Question 8 1 pts The ability of a company to collect receivables is measured by which ratio? Current ratio Day's sales in receivables Acid-test ratio Inventory turnover ratio Question 9 Working capital is a measure of: A company's ability to pay its current obligations The amount of...
Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent...
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A condensed income statement for Simultech Corporation and a partially completed vertical analysis are presented below....
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Question 50 (2 points) When doing vertical analysis of the balance sheet, to get percentages for...
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E5-8 (Algo) Preparing a Classified (Multiple-Step) Income Statement and Computing the Gross Profit Percentage LO5-3 need...
E5-8 (Algo) Preparing a Classified (Multiple-Step) Income
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need the Administrative expense
Net income
Earnings per share
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Complete the vertical analysis by computing each missing line item as a percentage of sales revenues.
A condensed income statement for Simultech Corporation and a partially completed vertical analysis are presented below.Required:1. Complete the vertical analysis by computing each missing line item as a percentage of sales revenues. (Rounı your answers to the nearest whole percent.)
17-3 Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two...
17-3 Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Year Previous Year Sales $509,000 $433,000 Cost of goods sold 300,310 225,160 Selling expenses 81,440 82,270 Administrative expenses 91,620 73,610 Income tax expense 15,270 21,650 a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. If required, round percentages to one decimal place. Enter all amounts as positive numbers....
Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent...
Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Year Previous Year Sales Cost of goods sold Selling expenses Administrative expenses Income tax expense a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. If required, round percentages to one decimal place. Enter all amounts as positive numbers. $573,000 360,990 85,950 91,680 11,460 $516,000 288,960 92,880 77,400 20,640 Innovation...
This Question: 10 pts 16 of 44 In performing vertical analysis, the base for operating expenses is: O A. gross profit B. net sales. OC. operating income. OD. net income. Click to select your answer.
just need help figuering out the percentage and part b
Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Year Previous Year Sales $405,000 $352,000 Cost of goods sold 275,400 221,760 Selling expenses 52,650 52,800 Administrative expenses 56,700 45,760 Income tax expense 8,100 14,080 a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. If required, round percentages to...
1 pts In performing a vertical analysis of an income statement, which of the following is used as the base amount? X Total expenses Net sales Gross profit O Cost of goods sold Question 8 1 pts The ability of a company to collect receivables is measured by which ratio? Current ratio Day's sales in receivables Acid-test ratio Inventory turnover ratio Question 9 Working capital is a measure of: A company's ability to pay its current obligations The amount of...
A condensed income statement for Simultech Corporation and a partially completed vertical analysis are presented below. Required: 1. Complete the vertical analysis by computing each missing line item as a percentage of sales revenues. (Round your answers to the nearest whole percent.) SIMULTECH CORPORATION Income Statement (summarized) in millions of U.S. dollars) Current Year Previous Year S 2.075 100% S 2.250 1,741 366 14 24 Sales Revenues 1001% Cost of Goods Sold 1,617 78 Selling, General, and Administrative Expenses353 16...
Question 50 (2 points) When doing vertical analysis of the balance sheet, to get percentages for each balance sheet item, you divide the dollar amount for the particular balance sheet item by the dollar amount of total Liabilities. the dollar amount of total Stockholders' Equity. the dollar amount of total Assets plus total Liabilities plus total Stockholders' Equity. the dollar amount of total Assets OR total Liabilities plus total Stockholders' Equity Submit Quiz 38 of 50 questions saved year. Question...
E5-8 (Algo) Preparing a Classified (Multiple-Step) Income
Statement and Computing the Gross Profit Percentage LO5-3
need the Administrative expense
Net income
Earnings per share
Chapter 3.1 Homework Problems E5-8 (Algo) Preparing a Classified (Multiple-Step) Income Statement and Computing the Gross Profit Percentage LO5-3 4.16 points The following data were taken from the records of Township Corporation at December 31 of the current year: eBook $ 98,000 31,000 6,400 Sales revenue Gross profit Selling (distribution) expense Administrative expense Pretax income Income...
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