Make discussion about the following items when earnings to forcast the future profitability of H: 1. Gain on sale of a portion of the branded product line. 2. Extraordinary loss.

Question

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Answer 1

Question

Chapter 6, Problem 18PC

a.

To determine

Make discussion about the following items when earnings to forcast the future profitability of H:

1. Gain on sale of a portion of the branded product line.

2. Extraordinary loss.

b.

To determine

Explain the adjustment that can be made towards H’s net income for each item in Part a.

c.

To determine

Make discussion about the reclassification adjustment made by H for sale and promotion of incentive costs (Item 3).

d.

To determine

Prepare common-size income statement for year 10, 11, and 12.

e.

To determine

Prepare common-size income statement for year 10, 11, and 12 after making income adjustments.

f.

To determine

Make assessment of the changes in the profitability of H during three-year period.

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Answer 2

Question

Chapter 6, Problem 18PC

a.

To determine

Make discussion about the following items when earnings to forcast the future profitability of H:

1. Gain on sale of a portion of the branded product line.

2. Extraordinary loss.

b.

To determine

Explain the adjustment that can be made towards H’s net income for each item in Part a.

c.

To determine

Make discussion about the reclassification adjustment made by H for sale and promotion of incentive costs (Item 3).

d.

To determine

Prepare common-size income statement for year 10, 11, and 12.

e.

To determine

Prepare common-size income statement for year 10, 11, and 12 after making income adjustments.

f.

To determine

Make assessment of the changes in the profitability of H during three-year period.

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Answer 3

Question

Chapter 6, Problem 18PC

a.

To determine

Make discussion about the following items when earnings to forcast the future profitability of H:

1. Gain on sale of a portion of the branded product line.

2. Extraordinary loss.

b.

To determine

Explain the adjustment that can be made towards H’s net income for each item in Part a.

c.

To determine

Make discussion about the reclassification adjustment made by H for sale and promotion of incentive costs (Item 3).

d.

To determine

Prepare common-size income statement for year 10, 11, and 12.

e.

To determine

Prepare common-size income statement for year 10, 11, and 12 after making income adjustments.

f.

To determine

Make assessment of the changes in the profitability of H during three-year period.

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Answer 4

Question

Chapter 6, Problem 18PC

a.

To determine

Make discussion about the following items when earnings to forcast the future profitability of H:

1. Gain on sale of a portion of the branded product line.

2. Extraordinary loss.

b.

To determine

Explain the adjustment that can be made towards H’s net income for each item in Part a.

c.

To determine

Make discussion about the reclassification adjustment made by H for sale and promotion of incentive costs (Item 3).

d.

To determine

Prepare common-size income statement for year 10, 11, and 12.

e.

To determine

Prepare common-size income statement for year 10, 11, and 12 after making income adjustments.

f.

To determine

Make assessment of the changes in the profitability of H during three-year period.

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Answer 5

Chapter 6, Problem 18PC

a.

To determine

Make discussion about the following items when earnings to forcast the future profitability of H:

1. Gain on sale of a portion of the branded product line.

2. Extraordinary loss.

b.

To determine

Explain the adjustment that can be made towards H’s net income for each item in Part a.

c.

To determine

Make discussion about the reclassification adjustment made by H for sale and promotion of incentive costs (Item 3).

d.

To determine

Prepare common-size income statement for year 10, 11, and 12.

e.

To determine

Prepare common-size income statement for year 10, 11, and 12 after making income adjustments.

f.

To determine

Make assessment of the changes in the profitability of H during three-year period.

Answer 6

Chapter 6, Problem 18PC

a.

To determine

Make discussion about the following items when earnings to forcast the future profitability of H:

1. Gain on sale of a portion of the branded product line.

2. Extraordinary loss.

Answer 7

Chapter 6, Problem 18PC

a.

To determine

Make discussion about the following items when earnings to forcast the future profitability of H:

1. Gain on sale of a portion of the branded product line.

2. Extraordinary loss.

Answer 8

b.

To determine

Explain the adjustment that can be made towards H’s net income for each item in Part a.

Answer 9

b.

To determine

Explain the adjustment that can be made towards H’s net income for each item in Part a.

Answer 10

c.

To determine

Make discussion about the reclassification adjustment made by H for sale and promotion of incentive costs (Item 3).

Answer 11

c.

To determine

Make discussion about the reclassification adjustment made by H for sale and promotion of incentive costs (Item 3).

Answer 12

d.

To determine

Prepare common-size income statement for year 10, 11, and 12.

Answer 13

d.

To determine

Prepare common-size income statement for year 10, 11, and 12.

Answer 14

e.

To determine

Prepare common-size income statement for year 10, 11, and 12 after making income adjustments.

Answer 15

e.

To determine

Prepare common-size income statement for year 10, 11, and 12 after making income adjustments.

Answer 16

f.

To determine

Make assessment of the changes in the profitability of H during three-year period.

Answer 17

f.

To determine

Make assessment of the changes in the profitability of H during three-year period.

Answer 18

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Make discussion about the following items when earnings to forcast the future profitability of H: 1. Gain on sale of a portion of the branded product line. 2. Extraordinary loss.

Solution Summary: The author explains the reclassification adjustments that can be made towards H's net income for each item in Part a.

Make discussion about the following items when earnings to forcast the future profitability of H:

1. Gain on sale of a portion of the branded product line.

2. Extraordinary loss.

Explain the adjustment that can be made towards H’s net income for each item in Part a.

Make discussion about the reclassification adjustment made by H for sale and promotion of incentive costs (Item 3).

Prepare common-size income statement for year 10, 11, and 12.

Prepare common-size income statement for year 10, 11, and 12 after making income adjustments.

Make assessment of the changes in the profitability of H during three-year period.

Chapter 6 Solutions