Contemporary Mathematics for Business & Consumers
Contemporary Mathematics for Business & Consumers
8th Edition
ISBN: 9781305585447
Author: Robert Brechner, Geroge Bergeman
Publisher: Cengage Learning
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Chapter 15.II, Problem 6TIE
To determine

To calculate: The comparative income sheet with horizontal analysis if comparative income statement of Timely Watch Company, Inc. for the year 2015 and 2016 is:

Timely Watch Company, Inc. Comparative Income Statement Increase (Decrease)
Revenue 2016($) 2015($) Amount ($) Percent (%)
Gross Sales 1,223,000 996,500
Less: Sales Returns and Allowances 121,340 99,600
Sales Discounts 63,120 51,237
Net Sales
Cost of goods sold
Merchandise Inventory Jan. 1 311,200 331,000
Purchases 603,290 271,128
Freight in 18,640 13,400
Goods available for sale
Less: Merchandise Inventory, Dec. 31 585,400 311,200
Cost of goods sold
Gross Margin
Operating Expenses
Salaries and benefits 215,200 121,800
Rents and Utilities 124,650 124,650
Depreciation 43,500 41,230
Insurance 24,970 23,800
Administrative Expenses 58,200 33,900
Warehouse Expenses 42,380 45,450
Total Operating Expenses
Income before Taxes
Income tax 66,280 41,670
Net-Income

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Chapter 15 Solutions

Contemporary Mathematics for Business & Consumers

Ch. 15.I - Prob. 8RECh. 15.I - Calculate the missing balance sheet items for...Ch. 15.I - Prob. 10RECh. 15.I - Prob. 11RECh. 15.I - Prob. 12RECh. 15.I - Prob. 13RECh. 15.I - For the following balance sheet items, check the...Ch. 15.I - For the following balance sheet items, check the...Ch. 15.I - Prob. 16RECh. 15.I - Prob. 17RECh. 15.I - Prob. 18RECh. 15.I - Prob. 19RECh. 15.I - Prob. 20RECh. 15.I - Prob. 21RECh. 15.I - For the following balance sheet items, check the...Ch. 15.I - Prob. 23RECh. 15.I - Prob. 24RECh. 15.I - Prob. 25RECh. 15.I - For the following balance sheet items, check the...Ch. 15.I - Prob. 27RECh. 15.I - Prob. 28RECh. 15.I - Prob. 29RECh. 15.I - Prob. 30RECh. 15.I - Prob. 31RECh. 15.I - Prob. 32RECh. 15.I - Prob. 33RECh. 15.I - Prepare the following statements on separate...Ch. 15.I - a. Use the following financial information to...Ch. 15.II - Prob. 4TIECh. 15.II - Prob. 5TIECh. 15.II - Prob. 6TIECh. 15.II - Prob. 1RECh. 15.II - Prob. 2RECh. 15.II - Prob. 3RECh. 15.II - Prob. 4RECh. 15.II - Calculate the missing information based on the...Ch. 15.II - Prob. 6RECh. 15.II - Prob. 7RECh. 15.II - Prob. 8RECh. 15.II - Prob. 9RECh. 15.II - Prob. 10RECh. 15.II - Prob. 11RECh. 15.II - 12. For the third quarter. Micro Tech had gross...Ch. 15.II - For August, Island Traders, Inc. had the following...Ch. 15.II - Prepare the following statements on separate...Ch. 15.II - Prepare the following statements on separate...Ch. 15.III - Use the balance sheet and income statement on...Ch. 15.III - Prob. 8TIECh. 15.III - Prob. 1RECh. 15.III - Prob. 2RECh. 15.III - Prob. 3RECh. 15.III - Prob. 4RECh. 15.III - Prob. 5RECh. 15.III - Prob. 6RECh. 15.III - Prob. 7RECh. 15.III - Prob. 8RECh. 15.III - Prob. 9RECh. 15.III - Prob. 10RECh. 15.III - Prob. 11RECh. 15.III - Prob. 12RECh. 15.III - Prob. 13RECh. 15.III - Prob. 14RECh. 15.III - Calculate the average inventory and inventory...Ch. 15.III - Prob. 16RECh. 15.III - Prob. 17RECh. 15.III - Prob. 18RECh. 15.III - Prob. 19RECh. 15.III - Prob. 20RECh. 15.III - Prob. 21RECh. 15.III - Prob. 22RECh. 15.III - Prob. 23RECh. 15.III - Prob. 24RECh. 15.III - Calculate the gross and net profits and the two...Ch. 15.III - Prob. 26RECh. 15.III - Prob. 27RECh. 15.III - Prob. 28RECh. 15.III - Prob. 29RECh. 15.III - Prob. 30RECh. 15.III - Prob. 31RECh. 15.III - Prob. 32RECh. 15.III - Prob. 33RECh. 15 - 1. In accounting, economic resources owned by a...Ch. 15 - 2. The financial statement that illustrates the...Ch. 15 - 3. The balance sheet is a visual presentation of...Ch. 15 - Prob. 4CRCh. 15 - 5. A financial statement prepared with the data...Ch. 15 - Prob. 6CRCh. 15 - Prob. 7CRCh. 15 - Prob. 8CRCh. 15 - Prob. 9CRCh. 15 - Prob. 10CRCh. 15 - Prob. 11CRCh. 15 - Prob. 12CRCh. 15 - Prob. 13CRCh. 15 - Prob. 14CRCh. 15 - Prob. 1ATCh. 15 - Prob. 2ATCh. 15 - Prob. 3ATCh. 15 - Prob. 4ATCh. 15 - a. Use the following financial information to...Ch. 15 - a. Use the following financial information to...Ch. 15 - For the second quarter. Evergreen Plant Nursery...Ch. 15 - 8. For the month of January. Consolidated Engine...Ch. 15 - Prob. 9ATCh. 15 - a. Use the following financial information to...Ch. 15 - As the accounting manager of Spring Creek...Ch. 15 - As the accounting manager of Spring Creek...Ch. 15 - As the accounting manager of Spring Creek...Ch. 15 - As the accounting manager of Spring Creek...Ch. 15 - As the accounting manager of Spring Creek...Ch. 15 - As the accounting manager of Spring Creek...Ch. 15 - As the accounting manager of Spring Creek...Ch. 15 - As the accounting manager of Spring Creek...Ch. 15 - As the accounting manager of Spring Creek...Ch. 15 - As the accounting manager of Spring Creek...Ch. 15 - As the accounting manager of Spring Creek...Ch. 15 - Prob. 22ATCh. 15 - Prob. 23ATCh. 15 - 24. From the following consolidated statements of...
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