How much is the net income for the month of April? Turner Enterprises had the following summarized operationsfor the month of April:.Revenues: for cash, $40,000; on account, $22,000.Expenses incurred: for cash, $7,000; on account, $12,000Purchase of equipment for $10,000 on accountPurchase of supplies for $6,000 for cashHow much is the net income for the month of April?a. $38,000b. $43,000c. $15,000d. $50,000

Explanation of Revenue: Revenue represents the total income earned by Turner Enterprises from…

Answered: Turner Enterprises had the following…

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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Garden Gate, Inc. reported the following data in its August 31 annual report. Cash and cash equivalents $ 485,625 Cash flow from operations (630,000) Required: a. What is the company's "cash burn" per month? per month b. What is the company's ratio of cash to monthly cash expenses? Round your answer to one decimal place. months
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Financial accounting
The following data are available for the Firempong Corporation for a recent month: Product 1 Product 2 Product 3 Total Sales... $150,000 $130,000 $90,000 $370,000 Variable expenses... 91,000 104,000 27,000 222,000 Contribution margin... $ 59,000 $ 26,000 $63,000 148,000 Fixed expenses... 55,000 Net operating income... $ 93,000 The break-even sales for the month for the company are closest to: O A. $91,667 O B. $203,000 O C. $137,500 O D. $148,000
What is the net operating income on these general accounting question?
A company reports the following amounts at the end of the year. Total sales revenue = $410,000; cash = $38,000; sales discounts=$15,000; accounts receivable = $20,000; sales returns = $25,000; operating expenses = $72,000; sales allowances = $25,000. Compute net revenues. net revenue=.
Cypress Corporation reported the following financial data: please answer the financial accounting question
Edison Co. reported the following for the current year: net sales of $80,000; cost of goods sold of $56,000; net income of $16,000; beginning balance of total assets of $60,000; and ending balance of total assets of $68,000. Compute (a) profit margin and (b) return on total assets.
Serven Corporation has estimated its accrual-basis revenue and expenses for June 20X1 and would like your help in estimating cash disbursements. Selected data from these estimated amounts are as follows: Sales $ 700,000 Gross profit (as a percent of sales) 30 % Increase in trade accounts receivable for the month $ 20,000 Change in accounts payable during month 0 Increase in inventory during month $ 10,000 Variable selling, general, and administrative expenses include a charge for uncollectible accounts of 1% of sales. Total selling, general, and administrative expenses are $71,000 per month plus 15% of sales. Depreciation expense of $40,000 per month is included in fixed selling, general, and administrative expense. Required: On the basis of the preceding data, what are the estimated cash disbursements from operations for June 20X1?
General Accounting
Tubaugh Corporation has two major business segments--East and West. In December, the East business segment had sales revenues of $400,000, variable expenses of $215,000, and traceable fixed expenses of $47,000. During the same month, the West business segment had sales revenues of $1,070,000, variable expenses of $544,000, and traceable fixed expenses of $205,000. The common fixed expenses totaled $318,000 and were allocated as follows: $159,000 to the East business segment and $159,000 to the West business segment. The contribution margin of the West business segment is: $526,000 $(35,000) $729,000 $138,000
The following data and information are provided for Waltz Corporation. Use net income after taxes as margin. Sales Revenue $1,000,000 Average total assets used during the year = $200,000 Cost of Goods Sold -500,000 Inventory = $60,000 Gross Margin 500,000 Long-term liabilities = $100,000 Selling Expenses -386,000 Accounts receivable = $10,000 Administrative Expenses -80,000 Cost of total invested capital = 12% Net Operating Income 34,000 Fixed expenses = $300,000 Other Income & Expense -6,000 Variable expenses = 666,000 Net Income before Taxes 28,000 Average price per unit sold = $10 Income Taxes -8,000 Net Income after Taxes $ 20,000…

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