Question
In: Finance
Question 5 Revenue 1,200.0000 Cost of good sold 800.0000 Gross profit Total operating expense...
| Question 5 | |||||||||
| Revenue | 1,200.0000 | ||||||||
| Cost of good sold | 800.0000 | ||||||||
| Gross profit | |||||||||
| Total operating expense | 190.0000 | ||||||||
| Operating income | |||||||||
| Interest expense | 15.0000 | ||||||||
| Earnings before tax | |||||||||
| Tax | |||||||||
| Net income | |||||||||
| TAX RATE | 40% | ||||||||
| With tax rate of 40%, what must be Total operating expense so that Net income equal to 50? | |||||||||
| Question 6 | ||||||||||
| Revenue | 1,200.0000 | |||||||||
| Cost of good sold | 800.0000 | |||||||||
| Gross profit | ||||||||||
| Total operating expense | 500.0000 | |||||||||
| Operating income | ||||||||||
| Interest expense | 15.0000 | |||||||||
| Earnings before tax | ||||||||||
| Tax | ||||||||||
| Net income | ||||||||||
| TAX RATE | 40% | |||||||||
| With tax rate of 40%, what must be Total operating expense so that Net Profit Margin equal to 10%? | ||||||||||
| Question 7 | |||||||||
| Revenue | 1,200.0000 | ||||||||
| Cost of good sold | 800.0000 | ||||||||
| Gross profit | |||||||||
| Total operating expense | 190.0000 | ||||||||
| Operating income | |||||||||
| Interest expense | 15.0000 | ||||||||
| Earnings before tax | |||||||||
| Tax | |||||||||
| Net income | |||||||||
| TAX RATE | 40% | ||||||||
| With tax rate of 40%, what must be Total operating expense so that Net Profitequal to 0? | |||||||||
Solutions
Expert Solution
| Q5) | ||
| Particulats | Calculations | Amount |
| Revenue | given | 1200.0000 |
| COGS | given | 800.0000 |
| Gross Profit | =1200-800 | 400.0000 |
| Total operating expense | Balancing figure = 400-0-15-83.3333=301.6667 | 301.6667 |
| Operating income | given | 0.0000 |
| Interest expense | given | 15.0000 |
| EBT | =net income/(1-tax rate) =50/(1-0.4) = 83.3333 | 83.3333 |
| Tax | =EBT* tax rate = 83.3333*0.40 = 33.3333 | 33.3333 |
| Net Income | given | 50.0000 |
| Q6) | ||
| Revenue | given | 1200.0000 |
| COGS | given | 800.0000 |
| Gross Profit | =1200-800 | 400.0000 |
| Total operating expense | Balancing figure = 400-0-15-200 = 185.0000 | 185.0000 |
| Operating income | given | 0.0000 |
| Interest expense | given | 15.0000 |
| EBT | =net income/(1-tax rate) =120/(1-0.4) = 200.0000 | 200.0000 |
| Tax | =EBT* tax rate = 200.0000*0.40 = 80.0000 | 80.0000 |
| Net Income | =Net profit margin*Revenue = 0.10*1200 =120.0000 | 120.0000 |
| Q7) | ||
| Revenue | given | 1200.0000 |
| COGS | given | 800.0000 |
| Gross Profit | =1200-800 | 400.0000 |
| Total operating expense | Balancing figure = 400-0-15-0=385.0000 | 385.0000 |
| Operating income | given | 0.0000 |
| Interest expense | given | 15.0000 |
| EBT | =net income/(1-tax rate) =0/(1-0.4) = 0 | 0.0000 |
| Tax | =EBT* tax rate = 0*0.40 = 0 | 0.0000 |
| Net Income | given | 0.0000 |
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jeff jeffy answered 2 years agoRelated Solutions
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Dec. 31, 2014
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Dec. 31, 2012
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Date
Transactions
Units
Unit
Cost
Total Cost
March
1
Beginning inventory
20
$
250
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6-4,6-5) [The following information applies to the questions
displayed below.] Greg’s Bicycle Shop has the following
transactions related to its top-selling Mongoose mountain bike for
the month of March. Greg's Bicycle Shop uses a periodic inventory
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Date
Transactions
Units
Unit Cost
Total Cost
March 1
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20
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$4,300
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Required information Problem 6-2B Calculate ending inventory, cost of goods sold, sales revenue, and gross profit...
Required information
Problem 6-2B Calculate ending inventory, cost of goods sold,
sales revenue, and gross profit for four inventory methods (LO6-3,
6-4, 6-5)
[The following information applies to the questions
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Pete’s Tennis Shop has the following transactions related to its
top-selling Wilson tennis racket for the month of August.
Pete’s Tennis Shop uses a periodic inventory system.
Date
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Required information Problem 6-2B Calculate ending inventory, cost of goods sold, sales revenue, and gross profit...
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Problem 6-2B Calculate ending inventory, cost of goods sold,
sales revenue, and gross profit for four inventory methods (LO6-3,
6-4, 6-5)
[The following information applies to the questions
displayed below.]
Pete’s Tennis Shop has the following transactions related to its
top-selling Wilson tennis racket for the month of August.
Pete’s Tennis Shop uses a periodic inventory system.
Date
Transactions
Units
Unit Cost
Total Cost
August
1
Beginning inventory
8
$
152
$
1,216
August
4
Sale ($185 each)...
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