Please need answer the general accounting question Presented below is information related to Oriole Company as of and for the year endedDecember 31, 2017. This was Oriole Company's first year of operations.Sales revenueCost of goods soldSelling and administrative expensesLoss on sale of plant assets$1,320,000$660,000$360,000$71,000Unrealized gain on available-for-sale investments $17,000Interest expense$6,600Interest revenue$4,300Loss on discontinued operations$2,000Allocation to non-controlling interest$8,500Dividends declared and paid$26,300Compute the following:A. Income from continuing operationsB. Net incomeC. Net income attributable to Oriole Company's controlling shareholdersD. Comprehensive income

Step 1: Define Net IncomeA person or company's "net income" is the entire amount of money they made…

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Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 6EA: During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of...

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During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of $5,500,000 and average capital assets of $12,000,000. A. Based on this information, calculate asset turnover. B. Using the sales margin from the previous exercise, what is the total ROI for the company during the current year?
Compute the following requirements on these general accounting question
Use the following information from Eiffel Company’s financial statements. 2018 IncomeStatement BalanceSheets Sales $309,000 Cost of Goods Sold (145,000) Operating Expenses, other than Depreciation Expense (27,000) Depreciation expense (16,000) Gain on Sale of Plant Assets 16,000 Net Income $137,000 Dec. 31,2018 Accounts Receivable $45,300 Inventory 1,600 Accounts Payable 22,500 Accured Liabilities 900 Dec. 31, 2017 Accounts Receivable $22,250 Inventory 1,800 Accounts Payable 22,250 Accured Liabilities 1,150 Prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments. Eiffel Company Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2018 Operating…
Use the following information from Eiffel Company's financial statements. 2018 Income Balance Statement Sheets Sales $309,000 Cost of Goods Sold (145,000) Operating Expenses, other than Depreciation Expense (27,000) Depreciation expense (15,000) Gain on Sale of Plant Assets 18,000 Net Income $140,000 Dec. 31,2018 Accounts Receivable $47,300 Inventory 1,600 Accounts Payable 24,500 Accured Liabilities 900 Dec. 31, 20O17 Accounts Receivable $23,250 Inventory 1,800 Accounts Payable 23,250 Accured Liabilities 1,150 Prepare the operating activities section of the statement of cash flows (indirect method) for tlte year 2018. U cash or cash payments. Eiffel Company
Use the following excerpts from Victrolia Company’s financial information. 2018 Income Statment Balance Sheets Sales $475,000 Cost of Goods Sold (221,500) Operating Expenses, other thanDepreciation Expense (60,600) Depreciation Expense (21,000) Gain on Sale of Plant Assets 23,500 Net Income $195,400 Dec. 31,2018 Cash $347,450 Accounts Receivable 39,750 Inventory 33,000 Accounts Payable 17,550 Accured Liabilities 3,500 Dec. 31, 2017 Cash $133,500 Accounts Receivable 36,500 Inventory 35,000 Accounts Payable 19,550 Accured Liabilities 2,200 Additional Information: Plant assets were sold for $45,000; book value $16,500 Dividends of $22,000 were declared and paid Prepare a statement of cash flows (direct method) for the year 2018. Use the minus sign to indicate cash out flows, a decrease in cash or cash payments. Victrolia CompanyStatement of…
Use the following excerpts from Victrolia Company’s financial information. 2018 Income Statment Balance Sheets Sales $475,000 Cost of Goods Sold (221,500) Operating Expenses, other thanDepreciation Expense (60,600) Depreciation Expense (21,000) Gain on Sale of Plant Assets 23,500 Net Income $195,400 Dec. 31,2018 Cash $347,450 Accounts Receivable 39,750 Inventory 33,000 Accounts Payable 17,550 Accured Liabilities 3,500 Dec. 31, 2017 Cash $133,500 Accounts Receivable 36,500 Inventory 35,000 Accounts Payable 19,550 Accured Liabilities 2,200 Additional Information: Plant assets were sold for $45,000; book value $16,500 Dividends of $22,000 were declared and paid Cash Flow from Financing Activities: $Dividends Paid I just need the answer on dividends answer box?
Presented below is information related to Watt Company in its first year of operation. The following information is provided at December 31, 2021, the end of its first year.Sales revenue 450,000Cost of goods sold 210,000Selling and administrative expenses 75,000Gain on sale of plant assets 45,000Unrealized gain on available-for-sale financial assets 15,000Financial costs 10,000Loss on discontinued operations 20,000Allocation to non-controlling interest 60,000Dividends declared and paid 8,000 Compute the following (a) income from operations, (b) net income, (c) net income attributable to Watt Company shareholders, (d) comprehensive income, and (e) retained earnings balance at December 31, 2021.
Financial information for Powell Panther Corporation is shown below: Powell Panther Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2018 Sales $ 1,625.0 $ 2017 1,300.0 Operating costs excluding depreciation and amortization 1,300.0 1,105.0 EBITDA $ 325.0 $ 195.0 Depreciation and amortization 39.0 31.0 Earnings before interest and taxes (EBIT) $ 286.0 $ 164.0 Interest 36.0 29.0 Earnings before taxes (EBT) $ 250.0 $ 135.0 Taxes (40%) 100.0 54.0 Net income $ 150.0 $ 81.0 Common dividends $ 135.0 $ 65.0 Powell Panther Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2018 Assets Cash and equivalents $ 23.0 $ 2017 18.0 Accounts receivable 164.0 143.0 Inventories 343.0 312.0 Total current assets $ 530.0 $ 473.0 Net plant and equipment 390.0 312.0 Total assets $ 920.0 $ 785.0 Liabilities and Equity…
Avatar Company Income Statement Year Ended December 31, 2024 Sales Revenue $291,300 Interest Revenue 1,000 Gain on Sale of Plant Assets 6,000 Total Revenues and Gains $298,300 Cost of Goods Sold I 145,000 Salaries and Wages Expense 49,000 Depreciation Expense-Plant Assets 16,000 Other Operating Expense 25,000 Interest Expense 3,500 Income Tax Expense 7,800 Total expenses 246,300 Net Income $52,000
Below are the income statement items from Bertha Company for the year end December 31, 2014 Sales revenue $5,400,000 Cost of goods sold $2,300,000 Interest revenue $30,000 Loan from abandonment of plant assets Gain from extinguishment of debt Unrealized holding loss on an available for sale investment, net of $90,000 $56,000 tax $24,000 Selling expenses Administrative expenses Effect of change in estimated useful lives of fixed assets Loss from earthquake (unusual and infrequent) Gain on disposal of a component of Bertha's business $580,000 $380,000 $70,000 $60,000 $100,000 Instructions:
(Compute Income Measures) Presented below is information related to Viel Company at December 31, 2017, the end of its first year of operations. Sales revenue $310,000 Cost of goods sold 140,000 Selling and administrative expenses 50,000 Gain on sale of plant assets 30,000 Unrealized gain on available-for-sale investments 10,000 Interest expense 6,000 Loss on discontinued operations 12,000 Dividends declared and paid 5,000 InstructionsCompute the following: (a) income from operations, (b) net income, (c) comprehensive income, and (d) retained earnings balance at December 31, 2017. (Ignore income tax effects.)
Financial information for Powell Panther Corporation is shown below: Powell Panther Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2018 2017 Sales $ 3,900.0 $ 3,000.0 Operating costs excluding depreciation and amortization 2,925.0 2,550.0 EBITDA $ 975.0 $ 450.0 Depreciation and amortization 90.0 69.0 Earnings before interest and taxes (EBIT) $ 885.0 $ 381.0 Interest 86.0 66.0 Earnings before taxes (EBT) $ 799.0 $ 315.0 Taxes (40%) 319.6 126.0 Net income $ 479.4 $ 189.0 Common dividends $ 431.0 $ 151.0 Powell Panther Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2018 2017 Assets Cash and equivalents $ 38.0 $ 30.0 Accounts receivable 432.0 360.0 Inventories 819.0 630.0 Total current assets $ 1,289.0 $ 1,020.0 Net plant and equipment 897.0 690.0 Total assets $ 2,186.0 $ 1,710.0 Liabilities and Equity…

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