Use the following appropriate amounts to calculate net income. Revenues $10,100 Liabilities $4,900 Expenses $4,500 Assets $19,000 Dividends $1,900
Q: Answer this financial accounting problem
A: To calculate the net income, we can use the following steps: Calculate the total assets using the…
Q: During the current year, a business sells equipment for $440,000. The equipment cost $290,000 when…
A: Concept of Adjusted Basis:The adjusted basis represents the net book value of an asset after…
Q: Sub. General accounting
A: To determine the stock price at which it becomes worthwhile to convert the bond into common stock,…
Q: In the Month of March, Digby received orders of 231 units at a price of $19.00 for their product…
A: Concept of Accrual AccountingAccrual Accounting is a method of recording financial transactions when…
Q: What is Kay's realized gain? General accounting
A: Step 1: Define GainGain is the amount of the increase in the value of asset or the value of decrease…
Q: Need correct answer general accounting question
A: The budgeted indirect cost allocation rate is calculated using the formula:Indirect Cost Allocation…
Q: None
A: Step 1: Definition of Cost of Goods Sold (COGS)The Cost of Goods Sold (COGS) represents the direct…
Q: Need correct answer general Accounting question
A: Step 1: Determine the sales discount Fashion Plus gives the customer.= selling price x rate if the…
Q: Subject: General Accounting
A: Concept of AssetsAssets are economic resources owned by a company that have monetary value and…
Q: None
A: Step 1: Definition of Rate of ReturnThe rate of return is the percentage change in the value of an…
Q: General accounting
A: Step 1: Define Debt RatioIn financial ratio analysis, the debt ratio is used by top management in…
Q: Calculate the amount of cash Trump general accounting
A: Step 1: Definition of Cash Collected from CustomersCash collected from customers represents the…
Q: General accounting
A: Beginning of Year (BOY) Calculation:Formula: FV = PMT × (1 + r) × [(1 + r)ⁿ - 1]/r Step 1:…
Q: Company U sells merchandise to company P for $7,300 with credit terms of 3/10, n/30. Company P…
A: Step 1: Net sales.= total sales - sales returns= $7,300 - $1,400= $5,900 Step 2: Sales discount…
Q: What is the total manufacturing costs on these general accounting question?
A: Step 1: Total Manufacturing Cost is the sum of direct materials used, direct labor cost, and…
Q: Ans general accounting
A: Kay's realized gain in this tax-free reorganization is determined by the formula:Realized…
Q: Accounting problem with correct solution
A: Step 1: First, calculate the Contribution margin per unit using given Sales units at the break-even…
Q: During 2018, Dawson Enterprises earned revenues of $120,000, had expenses of $85,000, purchased…
A: Explanation of Net Income:Net income is the total profit a company earns after deducting all…
Q: Please provide correct answer this financial accounting question
A: Step 1: Define Earnings Per ShareIn finance, the earnings per share ratio is a profitability ratio…
Q: Provide answers
A: To calculate the future value of two separate deposits made at different times and compounded at a…
Q: General Accounting
A: To calculate the expected return on the asset, we use the Capital Asset Pricing Model…
Q: Need help this question general accounting
A: Step 1: Definition of Time Value of Money (TVM)The Time Value of Money (TVM) states that money…
Q: Financial Account questions.
A: The question actually pertains to the advantage of equity financing over debt financing. Equity…
Q: Get correct answer general accounting question
A: Step 1: Define Materials Price and Quantity VariancesIn cost accounting, materials variances help…
Q: Beacon Corporation applies manufacturing overhead on the basis of direct labor hours. At the…
A: To calculate the applied manufacturing overhead, we use the formula: Applied Overhead =…
Q: Need help with this financial accounting question
A: Step 1: Define Stockholders' EquityStockholders' equity represents the owners' claim on a company's…
Q: Bright view Manufacturing has the following.
A: Explanation of Absorption Costing: Absorption costing is a method of product costing that includes…
Q: His profit would be. Dollars
A: Fixed Costs: The rent for the shop is $2,000 per week.Variable Costs: The variable cost of producing…
Q: Correct Answer
A: Explanation of Forensic Accounting:Forensic accounting is a specialized area of accounting that…
Q: General Accounting
A: Step 1: Define Total Manufacturing CostTotal Manufacturing Cost (TMC) is the total cost incurred by…
Q: Provide answer
A: Explanation of Adjusted Basis:The adjusted basis of an asset is its original purchase cost minus any…
Q: accounting question
A: Step 1: Analysis of information givenEstimated benefits = $3,000,000Estimated costs = $2,000,000Step…
Q: General accounting please solve
A: Step 1: Net Income.= sales x profit margin= $823,000 x 4.2%= $34,566 Step 2: Earnings Per Share…
Q: I need help with accounting
A: Given Data:Earnings before Interest and Taxes (EBIT) = $75,000Net Income = $40,000Interest Expense =…
Q: General accounting
A: To determine the finance charge on Rachel's loan, we calculate the total amount she will pay over…
Q: None
A: Here's how to calculate the difference in retirement account balances based on investing at the…
Q: General Account
A: Given data:Standard cost per unit = $40Raw materials per unit (standard) = 10 poundsStandard cost…
Q: General Accounting question
A: The P/E ratio (Price-to-Earnings ratio) is calculated by dividing the stock's price by its earnings…
Q: None
A: To calculate Spritzer Company's gross profit percentage and rate of inventory turnover for 2019,…
Q: LION Tech leases equipment on January 1, Year One, for 8 years, while the equipment has a total…
A: Step 1: Introduction to leaseA lease is defined as a contractual agreement incorporated between two…
Q: What is the contribution margin per unit?
A: Step 1: Definition of Contribution Margin Per UnitThe contribution margin per unit represents the…
Q: Please solve this problem
A: Step 1:Step 2:
Q: What will be the firm's operating cycle
A: Concept of Operating CycleThe operating cycle is the total time a company takes to convert its…
Q: Calculate the gross margin
A: Step 1: Definition of Gross MarginGross Margin is the difference between net sales revenue and the…
Q: What is the firm's fixed cost on these general accounting question?
A: Step 1: Define Fixed CostFixed costs are the costs that remain constant regardless of the number of…
Q: What is the accounts receivable turnover for skyline corporation?
A: Explanation of Accounts Receivable Turnover Rate:The Accounts Receivable Turnover Rate measures how…
Q: General accounting
A: Step 1: Definition of Predetermined Overhead RateThe Predetermined Overhead Rate (POHR) is used to…
Q: Problem? ? Accounting question
A: Step 1: Current Earnings Per Share Earnings Per Share = Net income/Outstanding sharesEarnings Per…
Q: Provide correct answer please give me ?? General Accounting question
A: Step 1: Define Turnover RatioThe Turnover Ratio (also called Asset Turnover Ratio) measures how…
Q: What is perry's forced manufactured overhead budget variance?
A: Step 1: Formula Manufacturing overhead budget variance = Actual fixed costs - Budgeted fixed costs…
I need help with accounting question is correct solution
Step by step
Solved in 2 steps
- Consider the following data extracted from an after-tax cash flow calculation. Before-Tax-and-Loan = $22,500 Loan Principal Payment = $5,926 Loan Interest Payment = $2,400 MACRS Depreciation Deduction = $16,665 Which of the following is closest to the Taxable Income? a. −$2,491. b. −$91. c. $3,435. d. $14,174For this question, calculate all values to 2 decimal places of £M (e.g. £123.45M) unless otherwise specified, and all ratios to 2 decimal places of percentage (e.g. 9.87%). You are given the following income statements and balance sheets for Freddie M Corporation for fiscal years 2045 and 2046 (all figures are in £ million), Income Statement Balance Sheet Sales Cost of goods sold Gross margin Wage & salaries expense Depreciation expense Earnings before interest and tax Interest expenses Taxes Net income Dividends Change in shareholder's equity Assets: Cash & equivalents Receivables Inventories Current Assets Property, plant & equipment Accumulated depreciation Net property, plant & equip Total Assets 2045 400.00 -200.00 200.00 -50.00 -25.00 125.00 -25.00 -60.00 40.00 -16.00 24.00 2045 2046 480.00 -240.00 240.00 -60.00 -25.00 155.00 -20.00 -70.00 65.00 -26.00 39.00 2046 Liabilities: 30.00 36.00 Payables 60.00 Short-term debt 50.00 50.00 60.00 Long-term debt 130.00 156.00 Total…Need Help of this one Account metter...
- Use the following information: total sales: $100,000, rent revenue: $1000, other revenue: $3000, selling expenses: $40000, operating expenses: $50000, cost of goods sold: $10000, interest expenses: $2000, and tax rate: 20%. Prepare a single-income statement.Use the following information for the next two questions:The following items were presented for the purpose of determining comprehensive income. Profit for the year 2,000Increase in revaluation surplus 1,000Remeasurements of the net defined benefit liability (asset) - loss (200)Net change in translation of foreign operation (400)Dividends declared (100)Stock rights 300 a. How much is the other comprehensive income?b. How much is the total comprehensive income?You have the following income statement data: Sales Cost of goods sold (Depreciation not included) Depreciation $100 Interest expense $60 Tax rate 30% Calculate net income. Round your answer to 2 decimal points; example 234.12. Your Answer: $850 $499 Answer
- If our gross profit is $97,218,350 and our adjusted revenue is $123,518,520 what is our profit margin (use an excel spreadsheet to get your answer, enter your answer as a percent, round to 1 decimal place)?Assume that debt service expenditures are $12.6 million and "own source" revenues are $84 million. Calculate the Debt Service/ Revenue Ratio. Is the ratio favorable?From the following information for BlueInks Corporation, compute the rate of return on assets. Hint: The numerator is income before interest expense and taxes. Net income $40,878 Total assets at beginning of year $250,100 Total assets at end of year $158,680 a. 15% b. 25% c. 16% d. 20%
- 7-Use the following information to compute net income. The income tax rate is 40%. Cost of Goods Sold Interest Expense $4,000 1,100 Selling and Administrative Expense 1,750 Sales Dividends a) $1,470 b) $1,890 c) $1,190 d) $1,260 e) $980 10,000 700Compute the pretax profit (income before income taxes) if the net income is $140,000 and the income tax rate is 30 percent.