Nabb & Fry Co. reports net income of $29,000. Interest allowances are Nabb $6,400 and Fry $5,100, salary allowances are Nabb $15,500 and Fry $10,500, and the remainder is shared equally. Show the distribution of income. (If an amount reduces the account balance then enter with a negative sign preceding the number eg. -15,000 or parenthesis eg. (15,000).) Salary allowance Interest allowance Remaining excess/deficiency s Nabb Division of Net Income S Fry S Total

Nabb & Fry Co. reports net income of $29,000. Interest allowances are Nabb $6,400 and Fry $5,100, salary allowances are Nabb $15,500 and Fry $10,500, and the remainder is shared equally. Show the distribution of income. (If an amount reduces the account balance then enter with a negative sign preceding the number eg. -15,000 or parenthesis eg. (15,000).) Salary allowance Interest allowance Remaining excess/deficiency s Nabb Division of Net Income S Fry S Total

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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Suppose a local company has the following balance sheet accounts:Accounts BalancesLand $ 9,000Equipment ?Salaries Payable 4,300Notes Payable ?Supplies 2,100Cash 7,200Stockholders’ Equity 13,500Accounts Payable 1,700Prepaid Rent 3,200Calculate the missing amounts assuming the business has total assets of $37,500.
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Nabb & Fry Co. reports net income of $30,000. Interest allowances are Nabb $7,300 and Fry $5,500, salary allowances are Nabb $14,300 and Fry $10,800, and the remainder is shared equally. Show the distribution of income. (If an amount reduces the account balance then enter with a negatlve slgn preceding the number e.g. -15,000 or parenthesls e.g. (15,000).) Division of Net Income Nabb Fry Total Salary allowance 24 $4 2$ Interest allowance Remaining excess/deficiency Total division of net income 2$
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What is total net sales for this company? What is total gross profit for this company? What is total operating expenses for this company? What is net income for this company? What is the company's gross profit ratio, also called gross profit margin ratio? Just enter the digits without decimals or punctuation.
The business made a sale of OMR 21000 ( cost was OR 18000), on credit basis. The effect on Account Receivable will be : Select one: a. Account Receivable will decrease by OMR 18000 b. Account Receivable will increase by OMR 21000 c. Account Receivable will decrease by OMR 21000 d. Account Receivable will increase by OMR 18000
Nabb & Fry Co. reports net income of $30,000. Interest allowances are Nabb $6,000 and Fry $5,100, salary allowances are Nabb $15,100 and Fry $11,000, and the remainder is shared equally. Show the distribution of income. (If an amount reduces the account balance then enter with a negative sign preceding the number e.g. -15,000 or parenthesis e.g. (15,000).) Salary allowance Interest allowance Remaining excess/deficiency Total division of net income $ $ Nabb Division of Net Income 15,100 6,000 17,500 $ $ Fry 11,000 5,100 12,500 $ $ Total 26,100 11,100 30,000
Use the following information from separate companies a through d Net Income (Loss) Income Taxes $ 44,500 $ 178,000 172, 600 62, 136 151,300 52,955 63,546 181, 100 7,244 86,928 Compute times interest earned. Which company indicates the strongest ability to pay interest expense as it comes due? a. b. C. d. Answer is not complete. Complete this question by entering your answers in the tabs below. Times Interest Interest Earned Ratio Coverage Compute times interest earned. Company Interest Expense $ 85,440 43, 150 a b d Times Interest Earned Ratio Choose Numerator: Income before interest and taxes $ $ $ $ Choose Denominator: Interest expense / 178,000 X/ $ $ 172,600 X/ 151,300 X/ $ 181,100 1 $ Times Interest Earned Ratio 85,440 43,150 52,955 7,244 = Ratio 2.08 4.00 2.86 25.00 times times times times Interest Coverage >
Tanger Company has three customers: E, F, and G. The beginning accounts receivable subsidiary ledger of customers F and G have $2,600 and $1,500, respectively. The beginning Accounts Receivable balance in the general ledger is $12,000. Calculate the ending amount in the accounts receivable subsidiary ledger account of customer E, if customer E also made a $3,900 payment. OA. $4,000 OB. $3,900 OC. $1,500 OD. $2,600
What is total net sales for this company? What is total gross profit for this company? What is total operating expenses for this company? What is net income for this company? What is the company's gross profit ratio, also called gross profit margin ratio? Just enter the digits without decimals or punctuation.