Eeport Date cale let sales lembership & other income otal revenues ost of sales 2019 Thousands 2018 2017 Thousands Thousands 510,329,000 4,076,000 514,405,000 385,301,000 129,104,000 107,147,000 21,957,000 1,975,000 371,000 217,000 495,761,000 4,582,000 500,343,000 373,396,000 519,926,000 4,038,000 523,964,000 394,605,000 129,359,000 108,791,000 20,568,000 2,262,000 337,000 189,000 126,947,000 106,510,000 20,437,000 1,978,000 352,000 ross Profit Pperating, selling, general & administrative expenses perating income (loss) terest expense on debt terest expense on finance, capital lease & financing obligations aterest income sain (loss) on extinguishment of debt other gains & (losses) ncome (loss) before income taxes rovision (benefit) for income taxes ncome (loss) after income taxes ess consolidated net income attributable to noncontrolling interest let Income 152,000 (3,136,000) 1,958,000 20,116,000 4,915,000 15,201,000 (320,000) 14,881,000 (8,368,000) 11,460,000 4,281,000 7,179,000 (509,000) 6,670,000 15,123,000 4,600,000 10,523,000 (661,000) 9,862,000 dditional Information Veighted average shares outstanding - basic Veighted average shares outstanding - diluted ear end shares outstanding 2,850,000 2,868,000 2 832 000 2,929,000 2,945,000 2 878 000 2,995,000 3,010,000 2 952 000
The Effect Of Prepaid Taxes On Assets And Liabilities
Many businesses estimate tax liability and make payments throughout the year (often quarterly). When a company overestimates its tax liability, this results in the business paying a prepaid tax. Prepaid taxes will be reversed within one year but can result in prepaid assets and liabilities.
Final Accounts
Financial accounting is one of the branches of accounting in which the transactions arising in the business over a particular period are recorded.
Ledger Posting
A ledger is an account that provides information on all the transactions that have taken place during a particular period. It is also known as General Ledger. For example, your bank account statement is a general ledger that gives information about the amount paid/debited or received/ credited from your bank account over some time.
Trial Balance and Final Accounts
In accounting we start with recording transaction with journal entries then we make separate ledger account for each type of transaction. It is very necessary to check and verify that the transaction transferred to ledgers from the journal are accurately recorded or not. Trial balance helps in this. Trial balance helps to check the accuracy of posting the ledger accounts. It helps the accountant to assist in preparing final accounts. It also helps the accountant to check whether all the debits and credits of items are recorded and posted accurately. Like in a balance sheet debit and credit side should be equal, similarly in trial balance debit balance and credit balance should tally.
Adjustment Entries
At the end of every accounting period Adjustment Entries are made in order to adjust the accounts precisely replicate the expenses and revenue of the current period. It is also known as end of period adjustment. It can also be referred as financial reporting that corrects the errors made previously in the accounting period. The basic characteristics of every adjustment entry is that it affects at least one real account and one nominal account.
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