Question

In: Accounting

Un-jumble the Income statement, put in the proper format, and find the profit or loss. Compute...

  1. Un-jumble the Income statement, put in the proper format, and find the profit or loss.
  2. Compute the Break-even Analysis.
  3. If profit increased 15,000, how much sales in dollars would need to be generated?
  4. If the Avg Sales price is 74.00, how many Units will be needed to break even?  

Office Supplies Expense 2,500
Cost of Goods Sold 113,500
Depreciation 5,000
Advertising Expense 17,000
Labor Expense 52,500 (65% Fixed)
Benefits Expense 17,500 (65% Fixed)
Insurance Expense 3,000
Income Taxes 12,725
Administrative Expense 21,825
Sales Returns 4,000
Rent Expense 19,000
Gross Sales 380,000
Utilities Expense 7,000
Sales Allowances 4,500
Interest Expense 4,600
Selling Expense 16,500
Legal Expense 4,500

Solutions

Expert Solution

ekkarill92 answered 8 months ago
Next > < Previous

Related Solutions

Can you find a break-even point analysis and profit analysis? Profit and loss income statement projected...
Can you find a break-even point analysis and profit analysis? Profit and loss income statement projected for the next 3 years first year monthly •R&D Expenses $7000 each year •S&A $3000 each month •Salaries 10 people with $9000 each month •Costumer Satisfaction $8000 each month •Rent of office $5000 each month •Cost of recipes $2000 each month
Income statement The income statement, also known as the profit and loss (P&L) statement, provides a...
Income statement The income statement, also known as the profit and loss (P&L) statement, provides a snapshot of the financial performance of a company during a specified period of time. It reports a firm’s gross income, expenses, net income, and the income that is available for distribution to its preferred and common shareholders. The income statement is prepared using the generally accepted accounting principles (GAAP) that match the firm’s revenues and expenses to the period in which they were incurred,...
Income statement The income statement, also known as the profit and loss (P&L) statement, provides a...
Income statement The income statement, also known as the profit and loss (P&L) statement, provides a snapshot of the financial performance of a company during a specified period of time. It reports a firm’s gross income, expenses, net income, and the income that is available for distribution to its preferred and common shareholders. The income statement is prepared using the generally accepted accounting principles (GAAP) that match the firm’s revenues and expenses to the period in which they were incurred,...
Profit or Loss Account (Income Statement) of a business shows a net profit of 500,000. The...
Profit or Loss Account (Income Statement) of a business shows a net profit of 500,000. The owner of the business says, ‘Where is the money? My business does not have an increase in cash by $500,000 in the bank account. Where is the $500,000 profit? Required: Provide an explanation to the owner of the business about why net profit of a Profit or Loss Account (Income Statement) is not necessarily equal to the cash inflow. Your explanation must include two...
3. Income statement The income statement, also known as the profit and loss (P&L) statement, provides...
3. Income statement The income statement, also known as the profit and loss (P&L) statement, provides a snapshot of the financial performance of a company during a specified period of time. It reports a firm’s gross income, expenses, net income, and the income that is available for distribution to its preferred and common shareholders. The income statement is prepared using the generally accepted accounting principles (GAAP) that match the firm’s revenues and expenses to the period in which they were...
3. Income statement The income statement, also known as the profit and loss (P&L) statement, provides...
3. Income statement The income statement, also known as the profit and loss (P&L) statement, provides a snapshot of the financial performance of a company during a specified period of time. It reports a firm’s gross income, expenses, net income, and the income that is available for distribution to its preferred and common shareholders. The income statement is prepared using the generally accepted accounting principles (GAAP) that match the firm’s revenues and expenses to the period in which they were...
3. Income statement The income statement, also known as the profit and loss (P&L) statement, provides...
3. Income statement The income statement, also known as the profit and loss (P&L) statement, provides a snapshot of the financial performance of a company during a specified period of time. It reports a firm’s gross income, expenses, net income, and the income that is available for distribution to its preferred and common shareholders. The income statement is prepared using the generally accepted accounting principles (GAAP) that match the firm’s revenues and expenses to the period in which they were...
3. Income statement The income statement, also known as a profit and loss (P&L) statement, provides...
3. Income statement The income statement, also known as a profit and loss (P&L) statement, provides a snapshot of a company’s financial performance during a specified period of time. It reports a firm’s gross income, expenses, net income, and the income that is available for distribution to its preferred and common shareholders. The income statement is prepared using the generally accepted accounting principles (GAAP) that match the firm’s revenues and expenses to the period in which they are incurred, not...
3. Income statement The income statement, also known as the profit and loss (P&L) statement, provides...
3. Income statement The income statement, also known as the profit and loss (P&L) statement, provides a snapshot of the financial performance of a company during a specified period of time. It reports a firm’s gross income, expenses, net income, and the income that is available for distribution to its preferred and common shareholders. The income statement is prepared using the generally accepted accounting principles (GAAP) that match the firm’s revenues and expenses to the period in which they were...
3. Income statement The income statement, also known as the profit and loss (P&L) statement, provides...
3. Income statement The income statement, also known as the profit and loss (P&L) statement, provides a snapshot of the financial performance of a company during a specified period of time. It reports a firm’s gross income, expenses, net income, and the income that is available for distribution to its preferred and common shareholders. The income statement is prepared using the generally accepted accounting principles (GAAP) that match the firm’s revenues and expenses to the period in which they were...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT