Rent Expense – P3,000.00Service Income, Customer 2(not yet received) – P 25,000.00Salaries Paid to Manager – P9,000.00Service Income, Customer 1-P50,000.00Salaries Paid to Clerk – P5,000.00Utilities Expense – P2,000.00--4. How much is the total expense of Lex Luther Corp?b. P10,000.005. How much is the total revenue of Lex Luther Corp.?b. 25,000.00a. P19,000.00С. Р18,000.00d. P9,000.00а. Р50,000.00С. 35,000.00d. P75,000.00

Name: Rent Expense – P3,000.00Service Income, Customer 2(not yet received)
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Description: Rent Expense – P3,000.00Service Income, Customer 2(not yet received) – P 25,000.00Salaries Paid to Manager – P9,000.00Service Income, Customer 1-P50,000.00Salaries Paid to Clerk – P5,000.00Utilities Expense – P2,000.00--4. How much is the total expe

Total Expenses = Salaries paid to clerk + Utilities Expense + Rent Expense + Salaries paid to…

Business

Finance

Service Income, Customer 1-P50,000.00 Salaries Paid to Clerk – P5,000.00 Rent Expense - P3,000.00 Service Income, Customer 2 (not yet received) – P 25,000.00 Salaries Paid to Manager – P9,000.00 Utilities Expense – P2,000.00 4. How much is the total expense of Lex Luther Corp? b. P10,000.00 5. How much is the total revenue of Lex Luther Corp.? b. 25,000.00 а. Р19,000.00 c. P18,000.00 d. P9,000.00 а. Р50,000.00 с. 35,000.00 d. P75,000.00

Service Income, Customer 1-P50,000.00 Salaries Paid to Clerk – P5,000.00 Rent Expense - P3,000.00 Service Income, Customer 2 (not yet received) – P 25,000.00 Salaries Paid to Manager – P9,000.00 Utilities Expense – P2,000.00 4. How much is the total expense of Lex Luther Corp? b. P10,000.00 5. How much is the total revenue of Lex Luther Corp.? b. 25,000.00 а. Р19,000.00 c. P18,000.00 d. P9,000.00 а. Р50,000.00 с. 35,000.00 d. P75,000.00

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Net sales of Thomas Company is $180,600, cost of goods sold is $144,400, selling expenses are $15,200, general expenses are $22,600, and interest expense is $1,500. Which of the following is the net income (loss) of Thomas Company? a.$3,100 b.$36,200 c.$(3,100) d.$13,600 e.$(1,600)
K The following information relates to Fantastic Clothing, Inc. Net Sales Revenue Cost of Goods Sold Interest Expense Operating Expenses Calculate the net income. OA. $260,700 OB. $265,000 O C. $315,700 OD. $320,000 $550,000 230,000 4,300 55,000
Revenues: Zillinga Pte Ltd Income Statement Year Ended December 31, 2021 Sales revenue Dividend revenue 8,000 239,000 Cost of goods sold 102,000 Salary expense 48,000 Depreciation expense 28,000 13,000 Advertising expense Income tax expense Interest expense 11,000 3,000 205,000 Net income 34,000 Additional data follow: a. Collections from customers are $15,500 more than sales. b. Dividend revenue, interest expense, and income tax expense equal their cash amounts. c. Payments to suppliers are the sum of cost of goods sold plus advertising expense. d. Payments to employees are $1,000 more than salaries expense. e. Cash payment for the acquisition of plant assets is $102,000. f. Cash receipts from sale of land total $24,000. g. Cash receipts from issuance of common stock total $32,000. h. Payment of long-term notes payable is $17,000. i. Payment of dividends is $10,500. j. Cash balance at 31 December, 2020, was $25,000; at 31 December, 2021, it was $28,000. Required: a) Prepare Zillinga's…
Sales = $1,000; Cost of Goods Sold = $500; Depreciation Expense = $100; Administrative Expenses = $100; Interest Expense = $20; Marketing Expenses = $80; and Taxes = $100. The Co's net income is equal to A) $100. B) $150. C) $220. D) $200.
2. The following are the respective costs and revenues incurred by Company ABC COSTS for months 1, 2, 3: P80,000.00, P90,000.00, P100,000.00. REVENUES for months 2, 3, 4: P70,000.00, P95,000.00, P105,000.00. ABC wants to know from you if it has made any profit or not. What will your answer be? Fully Explain. Use i= 12 % compounded yearly.
Subject :- Accountig
You are given the following information for Smashville, Incorporated. $249,000 $ 2,900 $ 394,000 $ 92,000 $ 7,400 $ 13,000 Cost of goods sold: Investment income: Net sales: Operating expense: Interest expense: Dividends: Tax rate: Current liabilities: Cash: Long-term debt: Other assets: Fixed assets: Other liabilities: Investments: Operating assets: 21% Gross margin Operating margin Return on assets Return on equity $ 22,000 $ 21,000 $9,000 $ 37,000 $ 139,000 $ 5,000 $ 13,000. $ 49,000 Calculate the gross margin, the operating margin, return on assets, and return on equity. Note: Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places. % % % %
A 92. Subject:- accounting
Why are the following items listed as a DR? Aren't they CR accounts? Exp;enses are CR accounts aren't they since they reduce assets? Income Statement Sales and Labor Revenue $1,592,430Cost of Goods $762,200Gross Profit $ 830,230 Operating Expenses:Salary Expense $337,425Depreciation Expense $44,500 Tax Expense $30,200Insurance Expense $22,000Office Expense $3,050Miscellaneous Expense $9,730Total Expenses $446,905 $383,325
need help
1
Presented below is the income statement of Coming Company: Sales Cost of goods sold Gross profit Operating expenses Income before income taxes $305,000 180,000 $125,000 68,000 57,000 21,400 $35,600 Income taxes Net income In addition, the following information related to net changes in working capital is presented: Cash Accounts receivable Inventories Salaries payable (operating expenses) Accounts payable Income tax payable Debit $9,600 10,000 $15,620 6,400 9,500 2,400 Credit The company also indicates that depreciation expense for the year was $12,360 and that the deferred tax liability account increased $3,080. Required: (a) Compute the net cash flow from operating activities that would be shown on a statement of cash flows using the indirect method. (b) Compute the net cash flow from operating activities that would be shown on a statement of cash flows using the direct method. P47 PPT (c) State the major difference between the two methods in handling statement of cash flows.

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