Following details pertains to Flatron producing flat models Television sets Selling and admin expenses-P188,000 Net sales-P720,000 Interest expense-P20,000 R &D exp-P85,000 Net cash provided by operating activities-P315,000 Income tax expense-P19,000 Cost of goods sold-P450,000 Find operating income for the period 2020.

Following details pertains to Flatron producing flat models Television sets Selling and admin expenses-P188,000 Net sales-P720,000 Interest expense-P20,000 R &D exp-P85,000 Net cash provided by operating activities-P315,000 Income tax expense-P19,000 Cost of goods sold-P450,000 Find operating income for the period 2020.

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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Given: 2021 2020 Net Sales 9,350,000 7,200,000 Cost of Sales Cost of Goods Sold 6,150,000 4,460,000 Factory Depreciation 350,000 325,000 Gross Income 2,850,000 2,415,000 SG&A 2,111,000 1,785,000 SG&A depreciation 75,000 70,000 Net Operating Income (NOI) 664,000 560,000 Other Income & Expenses Extraordinary Gain (Loss) 250,000 Interest Expense 120,000 105,000 Net Profit Before Taxes 544,000 705,000 Income Taxes 190,400 246,750 Net Income 353,600 458,250 Convert the above 2021 GAAP data to cash flow data.
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table belom shows the financial statements of a fan components supplier company that started it's operation in 1st January 2021.Calculate the profit and loss statement for the year ended December 2021.
Pierce Corporation has the following gross profits for 2018 and 2019: Sales = 2019 - P810,000; 2018 - P792,000. Cost of sales = 2019 - 480,000; 2018 - 464,000. Gross profit = 2019 - P330,000; 2018 - P328,000. Sales price was 10% lower during 2019. The percent of increase (decrease) in cost price must be:
Please show work in Excel.
How much is the realized gross profit in 2021?
Pierce Corporation has the following gross profits for 2018 and 2019: Sales = 2019 - P810,000; 2018 - P792.000. Cost of sales = 2019 - 480,000; 2018 %3D - 464,000. Gross profit = 2019 - P330,000; 2018 - P328,000. Sales price was 10% lower during 2019. The change in gross profit due to change in cost price must be:
Crane Company has sales of $1,594,000 for the first quarter of 2022. In making the sales, the company incurred the following costs and expenses. Product costs Selling expenses $513,000 113,000 Administrative expenses 93,000 Variable Net Income $ Fixed $563,000 88,000 80,000 Calculate the company's net income under CVP for 2022.
Pierce Corporation has the following gross profits for 2018 and 2019: Sales = 2019 - P810,000; 2018 - P792,000. Cost of sales = 2019 - 480,000; 2018 - 464,000. Gross profit = 2019 - P330,000; 2018 - P328,000. Sales price was 10% lower during 2019. The decrease in gross profit due to decrease in selling price must be: A. 72,000 B. 79,200 C. 81,000 D. 90,000