Need help QUESTION:During the year 2014 a company paid cash for theiremployees salaries amounting to $90,000. The year-endbalances in the salaries payable account were $22,000 atDecember 31. 2013 and $20,000 at December 31. 2014.Determine the amount of "Salary Expense" the companywould report on its 2014 Income Statement:a) $92,000b) $110,000c) $88,000d) $90,000

Step 1: Introduction to the Accounting for Salary ExpenseSalary expense is the amount of money that…

Answered: QUESTION: During the year 2014 a…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 50E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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The following are data available for the month of September 2021 of Saint James Corp.                Gross Earnings                                                 P8,500,000                Deductions:                               SSS Contribution                425,000                               Philhealth                             85,000                               Pag-ibig                               85,000                               Witholding taxes              2,125,000 Determine the following: Accrued payroll Amount charged to Worked in Process account
ABC Corporation reported the following income and expenses from business for year 2018: Cash sales                                                                                                           P 2,000,000 Sales on account                                                                                                    520,000 Advances from customers                                                                                   400,000 Cost of sales                                                                                                       1,200,000 Operating expenses (30% prepayments)                                                      600,000 How much is the taxable income for year 2018?
Using the information below calculate the ROC of the company Years       Revenue ($M)          Net Income ($M) 2012           221.8                           2.9 2013            473.8                         20.2 2014            627.7                         36.4 2015            947.8                         45.0 2016           1,015.5                      50.3 2017           1,046.2                      64.9 2018           1,293.2                      90.4 Years      Total Assets ($M) Fixed Assets ($M) Current Assets ($M) Total Equity ($M)                       Retained Earnings ($M) 2012 430 286 144 293 12.8 2013 956 501 455 558 33.0 2014 922 668 324 620 69.4 2015 1103 796 307 665 114.4 2016 1120 835 285 729 164.7 2017 1294 738 556 805 229.6 2018 2053 703 1350 934 320
4. The following are data available for the month of September 2021 of Saint James Corp. Gross Earnings P8,500,000 Deductions: SSS Contribution Pbilbealth Pag-ibig Witholding taxes 425,000 85,000 85.000 2,125,000 Determine the following: A. Accrued payroll B. Amount charged to Worked in Process account
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What is the net income for the BlueDragon company given the following list of accounting itens? note: write the number with at most 2 decimal płaces (eg. 95.17) unsorted Profit & Loss items For the year 2020 (in thousand Php) cost of goods sold (192) wage expense (31) communication expense (5) sales 171 office supplies expense |(6) depreciation & amortization (2) repair & maintenance (10) interest income 49 computer expense (5)
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The following information was extracted from the records of SydMel Ltd for the year ended 30 June 2021. SydMel Ltd Statement of Financial Position (Extract) As at 30 June 2021 Assets Accounts receivables $26,000 Allowance for doubtful debts 2,500 $23,500 Equipment 150,000 Accumulated depreciation – Equipment (20% per year) 30,000 120,000 Liabilities Interest Payable 2,000 2,000 Provision for employee benefits 5,000 5,000 Additional information The allowed deductible tax depreciation rate for Equipment is 25%. None of the employee benefits has been paid. It is not deductible for tax purposes until it is actually paid. The tax rate is 30%. Required Prepare a deferred tax worksheet to identify the temporary differences arising in respect of the assets and liabilities in the statement of financial position, and to calculate the balance of the deferred tax liability and deferred tax asset accounts…
The following is a partial listing of accounts for XYZ, Inc., for the year ended December 31, 2020. Required: Prepare multiple step income statement for the year of 2020. Finished Goods Current Maturities of Long-Term Debt Accumulated Depreciation Accounts Receivable $ 38,872 2,515 19,960 Sales Revenue 6,273 127,260 Treasury Stock 251 Prepaid Expenses 2,199 Deferred Taxes (long-term liability) 8,506 Interest Expense 2,410 Allowance for Doubtful Accounts 915 Retained Earnings 18,951 Raw Materials 9,576 Accounts Payable 19,021 Cash and Cash Equivalents 8,527 Sales Salaries Expense 872 Cost of Goods Sold 82,471 Investment in Unconsolidated 3,559 Subsidiaries Income Taxes Payable 8,356 Work In Process 1,984 Additional Paid-In Capital 9,614 Equipment 41,905 Long-Term Debt 15,258 Rent Income 2,468 Common Stock 3,895 Notes Payable (short-term) 6,156 Income Tax Expense 2,461
The following information is available from the accounting records of Spenser Co. for the year ended December 31, 2019: b. Calculate the company's net income for 2019. Selling, general, and administrative expenses $ 106,000 Accounts payable 170,000 Research and development expenses 77,000 Loss from discontinued operations, net of tax savings of $8,000 24,000 Provision for income taxes 35,000 Net sales 948,000 Interest expense 97,000 Net cash provided by operations 296,000 Cost of goods sold 521,000
Computing NOPAT, NOPM and RNOA Selected information from the financial statements of GoPro, Inc. is provided below: ($ thousands) Revenue Operating income Net interest expense and other nonoperating expense Net income Operating assets Operating liabilities 2014 $ 121,573 2013 $ 64,157 Assume a statutory tax rate of 35%. a. Compute GoPro's net operating profit after taxes (NOPAT) for 2014 and 2013. Round answers to the nearest whole number. 2014 2013 2014 2013 $1,392,450 $984,725 b. Compute GoPro's net operating profit margin (NOPM) for each year. Round answers to one decimal place. (Ex: 0.2345 = 23.5%) 8.7% 6.5 % 187,035 98,703 6,032 7,357 125,888 60,758 815,643 439,716 276,487 254,227 33.6% c. Compute GoPro's return on net operating assets (RNOA) for 2014. Round answers to one decimal place. (Ex: 0.2345 = 23.5%) 2014
For year 2022, a company reports net operating profit after taxes (NOPAT) of $32,910.4 million. The following additional information is gathered from its financial statements (in millions): End of 2022End of 2021Operating assets$337,052.7$388,934.1Nonoperating assets$18,916.9$20,649.9Operating liabilities$85,432.7$98,300.2Nonoperating liabilities$170,865.6$196,600.0 What was the company’s free cash flows to the firm (FCFF) for year 2022? [ Select ] ["$8,909.0", "$63,293.4", "$71,924.3", "$83,432.2", "$218,709.6"] This questions is multiple choice with the possible answers above.

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