A&P is interested in predicting its income statement for the year 2021. The company estimates that its sales in 2021 will be $3500000. Using the fixed and variable cost data, Find the following: A&P Company Income statement For the Year Ended December 31, 2020 Sales 2000000 Less: Cost of goods sold Variable cost 1450000 Fixed cost 10000 Gross profit 540000 Less: Operating expenses Selling expense (all variable) 20000 Utility expense (all variable) 34000 Depreciation expense(all variable) 6000 Operating profit 480000 Less: Interest expense ( all fixed) 12000

A&P is interested in predicting its income statement for the year 2021. The company estimates that its sales in 2021 will be $3500000. Using the fixed and variable cost data, Find the following: A&P Company Income statement For the Year Ended December 31, 2020 Sales 2000000 Less: Cost of goods sold Variable cost 1450000 Fixed cost 10000 Gross profit 540000 Less: Operating expenses Selling expense (all variable) 20000 Utility expense (all variable) 34000 Depreciation expense(all variable) 6000 Operating profit 480000 Less: Interest expense ( all fixed) 12000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Can someone anwser and help me through these please? Thank you!
5:42 AM Tue Nov 16 * 100% www-awu.aleks.coma Exam 2, 7.3-9.4 REVIEW Report Overall Assignment Score: 73% (Best Score) Ninotchka V Score. O O pont Submitteu. NOV Z 7.32 1 IVI Tme Spet. S s Español Incorrect Your answer is incorrect. Salma wants to save money to open a tutoring center. She buys an annuity with a monthly payment of $27 that pays 3.7% interest, compounded monthly. Payments will be made at the end of each month. Find the total value of the annuity in 10 years. Do not round any intermediate computations, and round your final answer to the nearest cent. If necessary, refer to the list of financial formulas. 圖 Answer Submitted: 00 $12345.92 Correct Answer: $3913.49 Assignments List EVEI IVIUIawll LLC. All Rights Reserved. Terms of Use Privacy Center Accessibility II
Reading List Apps printer Saved Help Save & Et Submit Chapter 8 Homework i Check my work 1 2nd Quarter 3rd Quarter 4th Quarter $ 210,000 $ 220,000 1st Quarter $ 180,000 $ 260,000 $ 330,000 $ 230,000 $ 230,000 $ 240,000 Total cash receipts Total cash disbursements The company's beginning cash balance for the upcoming fiscal year will be $20,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. Skipped Required: Prepare the company's cash budget for the upcoming fiscal year. (Repayments, and interest, should be indicated by a minus sign.) Garden Depot Cash Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Beginning cash…
60 * 00 T R A myopenmath.com Wikipedia Yelp TripAdvisor Making the C...i Law Review https://www..ends_v05.pdf Stuc Apple Yahoo pno! Bing The Weather Channel Google Facebook Twitter Linkedin Activity - Montgomery County Community College C My Overview | Chegg.com Bb Announcements- 2021FA_MAT106AOSA Math Applica... myOpenMath Home | My Classes | User Settings Log Out Course Messages Forums Calendar Gradebook Home > MAT106A OSA Fall 21 > Assessment Problem Set 1: Finance Progress saved Done Score: 2/50 1/20 answered Question 6 B 0/3 pts <. Suppose you found a CD that pays 4.9% interest compounded monthly for 6 years. If you deposit $10,000 now, how much will you have in the account in 6 years? (Round to the nearest cent.) What was the interest earned? (Round to the nearest cent.) Now suppose that you would like to have $20,000 in the account in 6 years. How much would you need to deposit now? (Round to the nearest cent.) Question Help: D Video 1 D Video 2 Submit Question MacBook Air 08 F3…
6
Knight Company owned 80% of the common stock of Stoop Company. Stoop had 50,000 shares of $5 par value common stock and 2,000 shares of preferred stock outstanding. Each preferred share received an annual per share dividend of $2 and is convertible into four shares of common stock. Knight did not own any of Stoop's preferred stock. Stoop also had 600 bonds outstanding, each of which is convertible into ten shares of common stock. Stoop's annual after-tax interest expense for the bonds was $2,000. Knight did not own any of Stoop's bonds. There are no excess amortizations or intra-entity transactions associated with this consolidation. Stoop reported net income of $300,000 for 2024. Knight has 100,000 shares of common stock outstanding and reported net income of $400,000 for 2024. What would Knight report as consolidated basic earnings per share? Note: Round your answer to two decimal places. Multiple Choice O $5.68 $6.37 O M Saved 12+ Sep 16 5:02
Return to Blackboard Weygandt, Accounting Principles, 13th Edition, Custom WileyPLUS Course for Bronx Community College Help | System Announcements Exercise 133 a-b CALCULATOR PRINTER VERSION BACK NEXT On September 30, after all monthly postings had been completed, the Accounts Receivable control account in the general ledger had a debit balance of $245,000; the Accounts Payable control account had a credit balance of $109,000. The October transactions recorded in the special journals are presented below. Special Journals October Transactions Sales journal Total sales $183,000 Purchases journal Total purchases 75,000 Cash receipts journal Accounts receivable column total 128,000 Cash payments journal Accounts payable column total 49,000 Compute the balance of the accounts rsceivable control accounts after the monthly postings on October 31. Accounts Receivable Compute the balances of the accounts payable control accounts after the monthly postings on October 31. Accounts Payable SUBMIT…
I need the answer as soon as possible
Bookmarks Window Help Q 8 Tue May 4 4:20 PM A edugen.wileyplus.com SOFTWARE UPDATE 25m ago Return to Blackboard macOS Big Sur 11.3.1 is available and will be installed later tonight. Weygandt, Accounting Principles, 13th Edition, Custom WileyPLUS Course for Bronx Community College Help | System Announcements CALCULATOR PRINTER VERSION 4BACK NEXT Exercise 11-13 a-b (Part Level Submission) According to a payroll register summary of Bramble Company, the amount of employees' gross pay in December was $862,000, of which $87,000 was not subject to Social Security taxes of 6.2% and $761,000 was not subject to state and federal unemployment taxes. (a) X Your answer is incorrect. Try again. Determine the employer's payroll tax expense for the month, using the following rates: FICA 7.65%, state unemployment 5.4%, and federal unemplayment 0.8%. (Round answer to 0 decimal places, e.g. 125.) Payroll tax expense $: Click if you would like to Show Work for this question: Open Show Work SUBMIT A W…
00 X + Create 24 Find text or tools Q ℗ 4 Question 4 The following cash book receipts can be found in the books of Bushveld Traders for April 2024: X 2024 Al Assistant (Marks:15) Doc No Day e DR510 1 Jock Bush Α B/S 04 8 00 Jedi Dealers Internet sales A Details Fol. Analysis of Receipts (R) Bank (R) Debtors Control (R) Output VAT (R) Sales Sundries (R) Amount Fol. Details 82 080 00 82 080 00 82 080 00 Capital 75 753 00 9 880 83 65 872 17 B C B/S 04 15 Blah Bank: Interest 906 30 on deposit D E FL G DS327 21 Stuart Smith cash 17 907 12 17 907 12 sales H DS328 24 Commercial 8 406 36 8 406 36 B/S 04 DS329 27 DR511 30 26 Tenant: Bill Tong Norma Edwards J K L 6 947 35 6.947 35 B Belton cash sales 84 303 00 84 303 00 10 996 04 73 306 96 Steve Brown ? M N 352 431 01 O 154 750 54 ? Abbreviations in the Document Number column: DR, B/S, and DS, indicate Duplicate Receipts, Bank Statement and Duplicate Cash Slips respectively. Required: ments Fill in the missing amounts/details for the letters A…
Sir please help me sir urgently please
Pls solve this question correctly instantly in 5 min i will give u 3 like for sure