If a company has sales revenue of $120,000, cost of goods sold of $70,000, and operating expenses of $20,000, what is the net income? Financial Accounting

Q: The company's degree of opereting leverage?

A: Detailed explanation:The degree of operating leverage (DOL) is a critical financial metric that…

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A: Step 1: Define Operating LeverageThe operating leverage is defined as the ratio of the contribution…

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A: Solution to the Maintenance Margin Call Price CalculationWe are solving for the price at which the…

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A: Step 1: Definition of Debt-to-Equity RatioThe debt-to-equity ratio is a financial metric that…

Q: TD Company has a budget with sales of 10,800 units and $4,500,000. Variable costs are budgeted at…

A: Step 1: Introduction to budgetingBudgeting is defined as the process of preparing a financial plan…

Q: Colson Manufacturing uses a job order costing system. During one month, Colson purchased $188,000 of…

A: Explanation of Total Manufacturing Costs: Total Manufacturing Costs represent the combined expenses…

Q: What is Lakeside's days in inventory on this general accounting question?

A: Step 1: Define Days in InventoryDays in Inventory measures the average number of days a company…

Q: Tom's gross pay for the month solution general accounting question

A: Detailed explanation:Gross PayFICA- OASDIFICA MedicareTotal FICA Withheld24002400 x 4.2% =…

Q: What is this firm's debt equity ratio of this financial accounting question?

A: Step 1: Define Debt-Equity RatioThe firm's debt-equity ratio is one of the leverage ratios that…

Q: Compute the equivalent units of production for October, assuming that the company uses the…

A: Equivalent Units of Production (EUP) CalculationUsing the weighted-average method, the equivalent…

Q: What was the company's turnover rounded to the nearest tenth on these general accounting question?

A: Step 1: Definition of Turnover RatioThe turnover ratio measures how efficiently a company utilizes…

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A: To calculate the cost per equivalent unit for conversion costs, we use the weighted-average method…

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A: Step 1: Definition of Credit SalesCredit sales represent the total value of sales made on credit…

Q: The total manufacturing costs added during the period are____.

A: Step 1: Formula Total manufacturing costs = Direct materials used + Direct labor + Overhead  Step 2:…

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A: Step 1: Definition of Credit SalesCredit sales represent the total value of sales made on credit…

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A: Step 1: Define Additional FinancingThe business entities are always progressive and tends to have…

Q: Equivalent units of production are used in process accounting to A) measure the efficiency of the…

A: The correct answer is:C) provide a means of assigning cost to partially completed units. Detailed…

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A: Step 1: Formula Crediting Cash account means the cash is reduced as its normal balance is on the…

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A: Step 1: Define Lease Expense in Operating LeasesFor an operating lease, the total lease expense is…

Q: What is the cost of goods manufactured for the year ended December 31 , 2004?

A: Step 1: Identify the formula for Cost of Goods Manufactured (COGM)Step 2: Substitute the given…

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A: Approach to solving the question: For better clarity of the solution, I have provided the…

Q: Given the following cost and activity solution general accounting question

A: Step 1: Define High-Low MethodThe high-low method is the cost-splitting method which is used when…

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A: The question requires the determination of the capital gains yield. A capital gains yield is the…

Q: Suppose that you purchased 300 share of solve this question general Accounting

A: The question requires the determination of the capital gains yield. A capital gains yield is the…

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A: To calculate the interest rate (rate of return) advertised by the bank, we use the formula for the…

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A: Step 1: Definition of Interest ExpenseInterest expense is the cost incurred by a company for…

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A: Step 1: Definition of Incremental Cost or SavingsIncremental cost or savings represents the…

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A: Step 1: Define Calculation of MarginsThe margin amounts are calculated by the respective exchanges…

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A: Problem Information:Principal: $6,000Interest rate: 11 1/4% = 11.25% = 0.1125 (annual rate)Loan…

Q: What is the actual debt service coverage ratio on these financial accounting question?

A: Step 1: Define Debt Service Coverage RatioThe debt service coverage ratio is a financial measure to…

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A: Applied and Actual OverheadApplied Overhead: This is the estimated overhead costs that the company…

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A: Step 1: Given Face amount = 100,000 Annual interest rate = 6%Semi-annual interest rate = 6%/2 = 3%…

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A: Step 1: PerpetuityPerpetuity is a fixed-income investment that generates a stream of annual cash…

Q: Jordana Woolens is a manufacturer of wool cloth. The information for March is as follows: Beginning…

A: 1. Equivalent Units for Material CostsSince materials are added at the beginning of the process, the…

Q: How much will you have in 11 years?? General accounting

A: Step 1: Given Value for Calculation Present Value = pv = $43,000Time = t = 9Interest Rate = r = 5.5%…

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A: Step 1:Variances are the differences between planned Output and actual Output. Variance analysis is…

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A: Step 1: Define Overhead AllocationOverhead allocation is the process of assigning manufacturing…

Q: Fedora, Inc, uses a weighted-average process-costing system and has one production department. All…

A: Given Information:May 1 WIP Inventory: 62,500 units.May 31 WIP Inventory: 72,500 units (50% complete…

Q: What was the company's net income?

A: Step 1: Define The Income StatementThe income statement is a financial report that is issued for…

Q: Splish Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis.…

A: Step 1: Calculation of Net Realizable Value (NRV) per unit for each itemNRV = Estimated Selling…

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A: Step 1: Define Average collection periodThe average collection period is calculated as 360 days…

Q: The total cost of the units completed and transferred out of the department was:

A: To calculate the total cost of the units completed and transferred out, we use the weighted-average…

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A: Step 1: Define Cost Of EquityFirms, while raising capital through equity, face a cost, which is the…

Q: How much is the cost of goods sold for the year ?

A: Step 1: Definition of Cost of Goods Sold (COGS)The Cost of Goods Sold (COGS) represents the direct…

Q: White Co. incurs a cost of $15 per pound to produce Product X, which it sells for $26 per pound. The…

A: Step 1: Introduction to cost accountingThe field of accounting known as cost accounting is utilized…

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A: Step 1: Compute the contribution margin per unit by subtracting variable costs per unit…

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A: I hope this can help you with your task. Though this should be under the Business and Finance…

Q: General Account

A: Given Data:Beginning Finished Goods Inventory (Jan 1, 2018): $49,000Ending Finished Goods Inventory…

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A: Step 1: Define Cash DisbursementsCash disbursements refer to the payments made by a company during a…

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A: Detailed Explanation: Solution Key Information: Number of shares issued: 25,000 sharesPar value per…