2018852,0002017912,000otal revenueexpenses$402,000Osts of goods soldelling/general experies 232,000$ 408,000264,00010,500Interest expenses9,20084,000$3,000ncome tax expense726,200766,500total expenses.Net income125,800145,000726,200Show Amount increase / decrease and also the Percentage

Formula used: Amount Increase = 2018 Amount - 2017 Amount

2018 852,000 otal revenue expenses osts of goods sold elling/general experies 232,000 9,200 $402,000 nterest expenses ncome tax expense $3,000 736,200 total expenses Net income 125,100 2017 912,000 $ 408,000 264,000 10,500 84,000 766,500 145,000

2018 852,000 otal revenue expenses osts of goods sold elling/general experies 232,000 9,200 $402,000 nterest expenses ncome tax expense $3,000 736,200 total expenses Net income 125,100 2017 912,000 $ 408,000 264,000 10,500 84,000 766,500 145,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Use the following information to answer this question: Bayside, Incorporated 2021 Income Statement ($ in thousands) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts received Inventory Total Net fixed assets Total assets 2020 $ 150 1,150 1,825 $ 3,125 3,860 $ 6,985 $ 6,270 4,640 400 $ 1,230 46 $ 1,184 249 $935 Bayside, Incorporated 2020 and 2021 Balance Sheets ($ in thousands) 2021 $ 255 990 2,140 $ 3,385 3,680 $ 7,065 Total liabilities & equity Accounts payable Long-term debt Common stock Retained earnings BOLSA- How many dollars of sales were generated from every dollar of fixed assets during 2021? دا 2020 $1,735 890 3,400 960 $ 6,985 2021 $ 1,805 690 3,360 1,210 $ 7,065
Please help me with the attached problem
13. For the accounting period ended 31 December 2021, merchandise inventories sold were RM100,000 in cash and RM1,000,000 on account. The cost of merchandise inventories was RM750,000 while the Selling and Administrative expenses incurred was RM100,000. What is the amount of the gross profit? Select one: A. RM350,000 B. RM100,000 C. RM250,000 D. RM200,000
Assets ($) 2019 2018 2017 Cash on Hand & at Banks 1844388 2907252 3696201 Accounts Receivable Net 21373839 27958818 23638244 Notes Receivable 0 0 0 Post Dated Cheques 7430502 5910795 5481999 Short Term Investments 111502 111502 0 Inventory 14772540 15359933 16127022 Total Current Assets 50764763 59355234 56162203 Long Term Investments 2247122 2305477 2346362 Fixed Assets Net 36960544 32892460 23018610 Lands 3338194 3344028 3364400 Projects in Progress 5544 4350057 10455510 Total Fixed Assets 40304282 40586545 36838520 Other Assets 6417935 6157108 5067638 Total Assets 99734102 108404364 100414723 Liabilities ($) 2019 2018 2017 Accounts and Notes Payable 9488026 9042459 6830212 Credit Banks 21176536 19278649 13508941 Short Term Loans 15347569 14306482 12568640 Accrued Part of Long Term Loans 3816788 3818532 3663256 Total Current Liabilities 63973817 67090416 44303485 Long Term Loans & Notes Payable 9883426 8547662 10299548 Other…
hapter 15, 16, and 17 Saved education.com%252F#/activity/q Help Save & E Isaac Incorporated began operations in January 2024. For some property sales, Isaac recognizes income in the period of sale for financial payments. reporting purposes. However, for income tax purposes, Isaac recognizes income when it collects cash from the buyer's installment In 2024, Isaac had $712 million in sales of this type. Scheduled collections for these sales are as follows: 2024 $ 68 million 2025 148 million 233.53 2026 147 million 2027 170 million pped 179 million eBook eferences 2028 $ 712 million Assume that Isaac has a 25% income tax rate and that there were no other differences in income for financial statement and tax purposes. Ignoring operating expenses, what deferred tax liability would Isaac report in its year-end 2024 balance sheet? Note: Round your answer to the nearest whole million. MC Graw Type here to search Multiple Choice # 2 3 W E R 4. S Z Alt C 85 00 9:25 PM High winds soon ^ la 4»)…
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2019 2018 Revenue 28,433,361 28,264,711 Cost of sales (23,661,338) (27,476,274) Gross Profit 4,772,023 788,437 Other income 983,548 825,880 Selling and distribution cost (265,996) (441,622) General and admin expenses (4,811,357) (4,462,336) Impairment loss on trade and receivables (418,860) (164,745) Operating profit/(loss) 259,358 (3,454,386) Finance income 6,060 52,495 Finance cost (4,573,435) (3,813,211) Loss before tax (4,308,017) (7,215,102) Income tax expense 945,908 (4,796,545) Loss of the year (3,362,109) (12,011,647) Other comprehensive income Revaluation of PPE 19,470,901 - Remeasurements of defined benefit liability (1,374,562) 89,638 Related tax (3,216,132) 119,050 Other comprehensive income 14,880,207 208,688 Total comprehensive income 11,518,098 (11,802,959) 2019 2018 Assets…
Rs. Sales 1,280,000 Cost of sales (400,000) Gross profit 880,000 Wages and salaries (290,000) Other expenses (including depreciation Rs. 25,000) (350,000) 240,000 Interest charges (50,000) Profit before tax 190,000 Tax on profit (40,000) Profit after tax 150,000 Extracts from the statement of financial position: At 1 January 2017 At 31 December 2017 Rs. Rs. Trade receivables 233,000 219,000 Inventory 118,000 124,000 Trade payables 102,000 125,000 Accrued wages and salaries 8,000 5,000 Accrued interest charges 30,000 45,000 Таx рayable 52,000 43,000 Find cashriow from Operations
Gulay ni Marites Vegetables Shop Income Statement For the year ended Dec 31, 2022 Net Sales 739,200.00 100.00% COGS (540,600.00) 73.13% Gross Income 198,600.00 26.87% ОРЕХ (120,000.00) 16.23% Net Income before Tax 78,600.00 10.63% Tax Paid (3% of Sales) (22,176.00) 3.00% Net Income After Tax 56,424.00 7.63% The vertical analysis is correct. A False; error for VA of gross income B False; error for VA of net income after tax c) False; error for VA of net income before tax D True
14 Victory ML Bus company has the following data for the first quarter of 2021: Gross receipt from passengers P 8,000,000 Gross revenue from cargo operations 5,000,000 Expenses – Passengers operation 4,750,000 Expenses – Cargo operations 2,500,000 Gross receipt from rental of facilities 2,000,000 Additional info: 25% of its gross revenue from cargo operations were still outstanding as of the end of the quarter Required: determine the total business tax due for the first quarter