AAA COMPANY INCOME STATEMENT YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 780,401.0 REVENUE 950,001.00 1,503,200.00 3,501,005.00 5,500,001.00 780,401.0 1,503,200.0 3,501,005.0 5,500,001.0 TOTAL REVENUE 950,001.00 0 250,555.0 COST OF REVENUE. TOTAL 355,666.00 1,502,484.0 2,574,149.0 GROSS PROFIT ? 717,978.00 250,000.0 SELLING/GENERAL/ADMIN EXPENSE. TOTAL 260,012.00 310,159.00 490,148.00 560,250.00 RESEARCH & DEVELOPMENT 50,000.00 60,258.00 70,582.00 201,999.00 249,015.00 DEPRECIATION & AMORTIZATION 15,000.00 25,152.00 35,025.00 721,079.00 814,726.00 1,900.00 OPERATING INCOME INTEREST EXPENSE 1,800.00 213,346.0 INCOME BEFORE TAX 247,313.00 300,512.00 INCOME TAX. TOTAL 53,200.00 160,146.0 75,258.00 85,202.00 95,225.00 152,000.00 NET INCOME 172,055.00 215,310.00 RATIOS YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 GROSS PROFIT RATIO ? ? OPERATING RATIO ? ? ? NET PROFIT RATIO ? ? TAX RATIO ? INTEREST COVERAGE RATIO ? ? ? ? ?

AAA COMPANY INCOME STATEMENT YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 780,401.0 REVENUE 950,001.00 1,503,200.00 3,501,005.00 5,500,001.00 780,401.0 1,503,200.0 3,501,005.0 5,500,001.0 TOTAL REVENUE 950,001.00 0 250,555.0 COST OF REVENUE. TOTAL 355,666.00 1,502,484.0 2,574,149.0 GROSS PROFIT ? 717,978.00 250,000.0 SELLING/GENERAL/ADMIN EXPENSE. TOTAL 260,012.00 310,159.00 490,148.00 560,250.00 RESEARCH & DEVELOPMENT 50,000.00 60,258.00 70,582.00 201,999.00 249,015.00 DEPRECIATION & AMORTIZATION 15,000.00 25,152.00 35,025.00 721,079.00 814,726.00 1,900.00 OPERATING INCOME INTEREST EXPENSE 1,800.00 213,346.0 INCOME BEFORE TAX 247,313.00 300,512.00 INCOME TAX. TOTAL 53,200.00 160,146.0 75,258.00 85,202.00 95,225.00 152,000.00 NET INCOME 172,055.00 215,310.00 RATIOS YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 GROSS PROFIT RATIO ? ? OPERATING RATIO ? ? ? NET PROFIT RATIO ? ? TAX RATIO ? INTEREST COVERAGE RATIO ? ? ? ? ?

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter8: Liabilities And Stockholders' Equity

Section: Chapter Questions

Problem 8.1.1MBA

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A company borrows as follows: amortiza oustanding t interest instalment tion amount 0 0 301.386 0 3.000.000 1 90.000 301.386 211.386 2.788.614 2 83.658 301.386 217.728 2.570.886 3 77.127 301.386 224.260 2.346.626 4 70.399 301.386 230.987 2.115.639 5 63.469 301.386 237.917 1.877.722 6 56.332 301.386 245.055 1.632.667 7 48.980 301.386 252.406 1.380.261 8 41.408 301.386 259.978 1.120.282 9 33.608 301.386 267.778 852.505 10 25.575 301.386 275.811 576.693 11 17.301 301.386 284.085 292.608 12 8.778 301.386 292.608 Loan was requested on 31 October 2019 and instalments are monthly. It is requested: a. Make accounting entries for year finished 2019. b. If company were to make a full prepayment on 15 January 2020, how much would it have to pay? Make respective accounting entry(s). Note: Remember that, to transform monthly interest rate to fortnightly interest rate, following formula must be applied: (1 + i_monthly)^ = (1+i_fortnightly) c. If at the time of applying for credit, agreed term for…
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