Bramble Company Limited reported the following for 2020: sales revenue, $1.15 million; cost of goods sold, $718,750; selling and administrative expenses, $348,000; gain on disposal of building, $301,000; and unrealized gain-OCI (related to FV-OCI equity i
Bramble Company Limited reported the following for 2020: sales revenue, $1.15 million; cost of goods sold, $718,750; selling and administrative expenses, $348,000; gain on disposal of building, $301,000; and unrealized gain-OCI (related to FV-OCI equity investments with gains/losses not recycled) $15,000. Assume investments are accounted for as FV-OCI investments, with gains/losses not recycled through net income.
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Bramble Company Limited reported the following for 2020: sales revenue, $1.15 million; cost of goods sold, $718,750; selling and administrative expenses, $348,000; gain on disposal of building, $301,000; and unrealized gain-OCI (related to FV-OCI equity i
Please help! Stuck with the final numbers shown highlighted in red. Green highlighted cells means they're...
Please help! Stuck with the final numbers shown highlighted in
red. Green highlighted cells means they're correct.
Joe Schreiner, controller for Flounder Company Inc., recently prepared the company's income statement and statement of changes in equity for 2020. Schreiner believes that the statements are a fair presentation of the company's financial progress during the current period, but he also admits that he has not examined any recent professional pronouncements on accounting. $ 357,000 193,000 164,000 FLOUNDER COMPANY INC. Income Statement...
Exercise 4-10 a-c The following is information for Blue Spruce Corp. for the year ended December...
Exercise 4-10 a-c The following is information for Blue Spruce Corp. for the year ended December 31, 2020: Sales revenue Unrealized gain on FV-OCI equity investments Interest income Cost of goods sold Selling expenses Administrative expenses Dividend revenue $1,220,000 45,000 9,000 732,000 61,000 51,000 15,000 Loss on inventory due to decline in net realizable value Loss on disposal of equipment Depreciation expense related to buildings omitted by mistake in 2019 Retained earnings at December 31, 2019 Loss from expropriation of...
LION CORPORATION INCOME STATEMENT-12-31-20xX 1. SALES 2. COST OF GOODS SOLD 3. GROSS PROFIT 4. SELLING,GENERAL&ADMINISTRATIVE...
LION CORPORATION INCOME STATEMENT-12-31-20xX 1. SALES 2. COST OF GOODS SOLD 3. GROSS PROFIT 4. SELLING,GENERAL&ADMINISTRATIVE 5. RESEARCH & DEVELOPMENT X 6. DEPREIATION &AMORTIZATION X S 736,447 (462,000) S 274,447 S (198,000) S (20,000) (18,000) 7. OPERATING INCOME (OPERATING PROFIT) 38,447 S (4,000) 9.EARNINGS BEFORE INTEREST & TAXES (EBIT) S 34,447 (3,000) 8. OTHER INCOME (EXPENSE) 12 13 14 - 10. INTEREST INCOME (EXPENSE) 1. EARNINGS BEFORE TAXES (EBT) [PRETAX INCON S 31,447 12. TAXES 13. EARNINGS AFTER TAXES (EAT)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
Please help! Stuck with the final numbers shown highlighted in
red. Green highlighted cells means they're correct.
Joe Schreiner, controller for Flounder Company Inc., recently prepared the company's income statement and statement of changes in equity for 2020. Schreiner believes that the statements are a fair presentation of the company's financial progress during the current period, but he also admits that he has not examined any recent professional pronouncements on accounting. $ 357,000 193,000 164,000 FLOUNDER COMPANY INC. Income Statement...
Exercise 4-10 a-c The following is information for Blue Spruce Corp. for the year ended December 31, 2020: Sales revenue Unrealized gain on FV-OCI equity investments Interest income Cost of goods sold Selling expenses Administrative expenses Dividend revenue $1,220,000 45,000 9,000 732,000 61,000 51,000 15,000 Loss on inventory due to decline in net realizable value Loss on disposal of equipment Depreciation expense related to buildings omitted by mistake in 2019 Retained earnings at December 31, 2019 Loss from expropriation of...
LION CORPORATION INCOME STATEMENT-12-31-20xX 1. SALES 2. COST OF GOODS SOLD 3. GROSS PROFIT 4. SELLING,GENERAL&ADMINISTRATIVE 5. RESEARCH & DEVELOPMENT X 6. DEPREIATION &AMORTIZATION X S 736,447 (462,000) S 274,447 S (198,000) S (20,000) (18,000) 7. OPERATING INCOME (OPERATING PROFIT) 38,447 S (4,000) 9.EARNINGS BEFORE INTEREST & TAXES (EBIT) S 34,447 (3,000) 8. OTHER INCOME (EXPENSE) 12 13 14 - 10. INTEREST INCOME (EXPENSE) 1. EARNINGS BEFORE TAXES (EBT) [PRETAX INCON S 31,447 12. TAXES 13. EARNINGS AFTER TAXES (EAT)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
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