uai LUITrcppciCompany$ 14,40018,9007,40030, 50021,80021, 20024,400Beginning finished goods inventoryBeginning work in process înventoryBeginning raw materials inventory (direct materials)Rental cost on factory equipmentDirect laborEnding finished goods inventoryEnding work in process inventoryEnding raw materials inventoryFactory utilitiesFactory supplies used (indirect materials)General and administrative expensesCompany$ 17,50023,55014,40025,75043,40016, 20022, 0007,40012,7503,50047, 0008,9203,65054,50059, 200290,01017, 200124, 82519,7006, 00012,7508, 20032,0002,4507,46037,00052,800229, 53023,еее267, 50016, 200Indirect laborRepairs-Factory equipmentRaw materials purchasesSelling expensesSalesCashFactory equipment, netAccounts receivable, netRequlred:1. Prepare Income statements for both Garcon Company and Pepper Company.2. Prepare the current assets section of the balance sheet for each company.Complete this question by entering your answers in the tabs below.Req 1 Garcon Req 1 Pepper Req 2 Garyon Req 2 PepperPrepare the current asset section of the Reg 2 Garcon rcon Company.GARCON COMPANYPartial Balance SheetAs of December 31, 2019Inventories:Total current assets< Req 1 PepperReq 2 Pepper >( Prey uai LUITreppciCompany$ 14,40018,9007,40030, 50021,80021, 20024,4006, e0012,7508, 20032,0002,450Company$ 17,50023,55014,40025,75043,40016, 20022,0007,40012,7503,500Beginning finished goods inventoryBeginning work in process inventoryBeginning raw materials inventory (direct materials)Rental cost on factory equipmentDirect laborEnding finished goods inventoryEnding work in process inventoryEnding raw materials inventoryFactory utilitiesFactory supplies used (indirect materials)General and administrative expensesIndirect labor47, 0008,9203,65054,50059, 200290, 01017, 200124,82519,700Repairs-Factory equipmentRaw materials purchasesselling expensessales7,46037,00052,800229,53023,000267,50016,200CashFactory equipment, netAccounts receivable, netRequlred:1. Prepare Income statements for both Garcon Company and Pepper Company.2. Prepare the current assets section of the balance sheet for each company.Complete this question by entering your answers in the tabs below.Reg 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 PepperPrepare the income statement for Garcon Company.GARCON COMPANYIncome StatementFor Year Ended December 31, 2019Operating expensesIncome (loss) before taxReq 1 Pepper >< Prevof 5

In this question, data of two companies are given one is garcon company and the other one is pepper…

Company $ 14,400 18,900 7,400 30, 500 21, 800 21, 200 24,400 6,000 12,750 8, 200 32, ее 2,450 7,460 37, e00 52,800 229,530 23, e00 267, 500 16, 200 Company $ 17,500 23,550 14,400 25,750 43,400 16, 200 22, 000 7,400 12,750 3,500 47, 000 8,920 3,650 54,500 59, 200 290,010 17, 200 124, 825 19,700 Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory (direct materials) Rental cost on factory equipment Direct labor Ending finished goods inventory Ending work in process inventory Ending raw materials inventory Factory utilities Factory supplies used (indirect materials) General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases selling expenses Sales Cash Factory equipment, net ACcounts receivable, net

Company $ 14,400 18,900 7,400 30, 500 21, 800 21, 200 24,400 6,000 12,750 8, 200 32, ее 2,450 7,460 37, e00 52,800 229,530 23, e00 267, 500 16, 200 Company $ 17,500 23,550 14,400 25,750 43,400 16, 200 22, 000 7,400 12,750 3,500 47, 000 8,920 3,650 54,500 59, 200 290,010 17, 200 124, 825 19,700 Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory (direct materials) Rental cost on factory equipment Direct labor Ending finished goods inventory Ending work in process inventory Ending raw materials inventory Factory utilities Factory supplies used (indirect materials) General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases selling expenses Sales Cash Factory equipment, net ACcounts receivable, net

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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90 Marston Corporation Statement of Income for the Year Ending December 31, 2022 Using Sales Agents Using Own Sales Force $26,000,000 Sales Cost of goods sold Variable Fixed Gross margin Marketing costs Commissions Fixed costs Operating income $11,700,000 2,870,000 4,680,000 3,420,000 $26,000,000 14,570,000 11,430,000 8,100,000 $ 3,330,000 $11,700,000 2,870,000 2,600,000 5,500,000 14,570,000 11,430,000 8,100,000 $ 3,330,000 Marston is considering hiring its own sales staff to replace the network of agents. Marston will pay its salespeople a commission of 10% and incur additional fixed costs of $2,080,000. 4 Required 1. Calculate Marston Corporation's 2022 contribution margin percentage, breakeven revenues, and degree of operating leverage under each of the two scenarios. (You will first have to recast the 2022 statement of income assuming Marston had hired its own sales staff.) 2. Describe the advantages and disadvantages of each type of sales alternative. 3. In 2023, Marston uses its…
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30-Amjad Trading LLC: Gross Sales are RO 82,000, Sales Returns RO 2,000, Cost of goods sold is RO 30,000, Total Operating expenses are RO 30,000. Bank interest received RO 1000. The value of Total revenue under simple step income statement is: a. 83,000 b. 50,000 C. 21,000 d. 81,000
Home office BranchSales P 365,000 P174,000Shipment to branch 90,000Purchases from outsiders 220,000 35,000Advertising expense 13,700 2,500Salaries and Commission 35,000 9,500Rent Expense 10,000 2,000Miscellaneous expense 3,300 500Shipment from home Office 112,500Inventories, January 1:Home Office 85,000Branch:From outsiders 9,500From home office at 2018 billed price30,000Inventories, December 31:Home Office 65,000BranchFrom outsider 6,500From Home office at 2018 billed price30,0001. The branch inventory at cost on December 31, 2021 is:a. P30,500 c. P70,000b. 31,500 d. 36,5002. The combined net income of the Home Office and the Branch on December 31, 2021 is:a. P111,000 c. P250,500b. 63,000 d. 174,000
ADAK STEEL budget info: 01 02 04 $2,500,000 $2,000,000 $2,200,000 $2,800,000 $500,000 $500,000 $600,000 $700,000 $800,000 $800,000 $900,000 $1,000,000 $400,000 $400,000 $400,000 $400,000 Sales on account Purchases of material on account Payroll Miscellaneous Cash collections of sales on account: 70% current Quarter; 20% following Q 4% - never Sales in previous year: 3rd Q-$1,800,000 4th Q-$2,400,000 Material Purchases: Paid ½ in current Q; ½ in next Q Purchases in 4th Q of previous year: $600,000 All other items (payroll, miscellaneous) are paid in current month. Non-operating cash outlays: Dividends: Bond interest: Bond Principal: 6% second following Q $90,000 every Q. $60,000 on June 30 and $40,000 on December 31. $1,000,000 on June 30. $120,000 Annual interest rate: 8% Beginning Cash Balance, Jan. 1: Minimum Balance: $100,000 REQUIRED: Prepare a Cash Budget Repay loan only when you have enough cash to pay entire loan. Pay interest when you pay principal. Borrow at beginning of Q,…
19. How much is the total distribution (selling) costs? a. 48,000 b. 56,000 C. 64,000 d. 108,000 20. How much is the total administrative expenses? a. 24,000 b. 132,000 C. 226,000 d. 668,000
00 Sarasota Industries has Cash of $220,000, Accounts receivable of $130,000, inventory of $180,000, equipment of $300,000 and accounts payable of $175,000. What is the company's: Working Capital Current ratio Quick ratio ו T רJ D Focus A.-ニーーL הד ד 000 UL U T e1 of 3 545 words 1:20 AM P ツ 10/28/2021 50°F P Type here to search M Get more done with the latest Intel Core processor
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Sales VC Complete the shaded cells below: Year 1 $32,960,000 13,440,000 Year 2 Year 3 Year 4 $54,590,000 22,260,000 $44,805,000 18,270,000 $40,170,000 Year 5 $27,810,000 16,380,000 11,340,000 Fixed costs 5,300,000 5,300,000 5,300,000 5,300,000 5,300,000 Dep EBT 5,501,650 $8,718,350 9,428,650 6,733,650 4,808,650 3,438,050 $17,601,350 $14,501,350 $13,681,350 $7,731,950 Tax NI $6,800,313 +Dep OCF 1,918,037 5,501,650 $12,301,963 3,872,297 $13,729,053 5,501,650 $19,230,703 3,190,297 3,009,897 1,701,029 $11,311,053 $10,671,453 $6,030,921 5,501,650 $16,812,703 5,501,650 $16,173,103 5,501,650 $11,532,571 NWC Beg End $0 0 NWC CF $6,592,000 $10,918,000 $8,961,000 $8,034,000 $5,562,000 Net CF Salvage BV of equipment Taxes Salvage CF Net CF Time 0 2 3 5 12345
св 750-600 350 CA 600 + 150 = 750 = 42.8% CL = 150 + 200 350 14. A firm has AED 600 million in inventory, AED 1,200 million fixed assets, AED 250 million in accounts receivables, AED 150 million in accounts payable, notes payable AED 200 and AED 2,100 million in total assets. What is the quick ratio? Quick ratio = CA- inventory 4
40"l1贪A N 65% D 3:19 +968 9925 1453 8 minutes ago These are selected account balances on December 31, 2011. Land (location of the corporation's office building) $100,000; Land (held for future use) 150,000; Corporate Office Building 600,000; Inventory 200,000; Equipment 450,000; Office Furniture 100,000; Accumulated Depreciation 300,000. What is the total amount of non- current assets that will appear on the statement of financial position? Select one: a. $1,100,000 b. $1,300,000 C. $1,600,000 d. $950,000 口口

You have been asked by a friend to analyse the following set of financial statements for a small unlisted company that he is considering investing in. Balance Sheets as at 31 December 20X1 20X2 $ $ Shareholders' funds Issued capital 100,000 50,000 150,000 150,000 Retained earnings Total shareholders' funds 57,500 207,500 Represented by: Current assets Bank Accounts receivable Inventory** 149,000 133,000 54,000 45,000 50,000 80,000 53,000 Less Current liabilities Bank 35,000 118,500 Accounts payable Taxes payable 32,000 3,000 37,000 81,000 500 Working capital 114,000 14,500 Non-current assets Land 65,000 Buildings Accum. depreciation Plant & equipment Accum. depreciation Motor vehicles Accum. depreciation Total non-current assets 12,500 (3,500) 30,000 (3,000) 27,000 185,000 (4,000) 181,000 12,500 (4,500) 55,000 (11,000) 9,000 8,000 44,000 36,000 298,000 Non-current liabilities Mortgage (secured) (105,000) 150,000 207,500 Net total assets * Opening debtors for 20X1 was $31,000 *Opening…