Question
In: Accounting
Financial information is presented here for two companies.Arts Inc.Cass Inc.Sales $960,000$ (e) Sales returns24,00018,000Sales discounts(a)12,000Net sales...
Financial information is presented here for two companies.Arts Inc.Cass Inc.Sales $960,000$ (e) Sales returns24,00018,000Sales discounts(a)12,000Net sales 920,000834,000Cost of goods sold 632,000(f) Gross profit 288,000 250,200Operating expenses(b)214,600Income from operations59,600(g)Other revenue(c)4,300Other expenses3,2001,800Income before income tax63,200(h)Income tax(d)7,400Net income50,60030,700Instructions(a) Fill in the missing amounts.SHOWyour work. (b) Calculate the profit margin and the gross profit margin for each company.
Solutions
ekkarill92 answered 1 year agoRelated Solutions
Financial information is presented below: Operating expenses $ 47000 Sales returns and allowances 6000 Sales discounts...
Financial information is presented below:
Operating expenses
$ 47000
Sales returns and allowances
6000
Sales discounts
9000
Sales revenue
190000
Cost of goods sold
99000
The profit margin would be
0.43.
0.17.
0.34.
0.16.
Financial information for Mario Ltd is presented here. MARIO LTD Statement of Financial Position as at...
Financial information for Mario Ltd is presented here.
MARIO LTD
Statement of Financial
Position
as at 31 December
2019
2018
$
$
ASSETS
Cash
50,000
42,000
Short-term investments
80,000
50,000
Receivables (net of allowance for doubtful accounts of $4,000
for 2019 and $3,000 for 2018)
100,000
87,000
Inventories
440,000
300,000
Prepaid expenses
25,000
31,000
Land
75,000
75,000
Building and equipment (net)
570,000
400,000
Total assets
$1,340,000
$985,000
LIABILITIES AND EQUITY
Short term provisions
125,000
25,000
Accounts Payable
160,000
90,000
Accrued...
Suppose the amounts presented here are basic financial information (in millions) from the 2017 annual reports...
Suppose the amounts presented here are basic financial
information (in millions) from the 2017 annual reports of
Nike and adidas.
Nike
adidas
Sales revenue
$ 20,161
$ 9,941
Allowance for doubtful accounts, beginning
84.6
108
Allowance for doubtful accounts, ending
120
133
Accounts receivable balance (gross), beginning
3,128
1,797
Accounts receivable balance (gross), ending
3,243.0
1,611
(a)
Calculate the accounts receivable turnover for both companies.
(Round answers to 1 decimal place, e.g.
12.5.)
Selected financial data of two competitors, Target and Wal-Mart, are presented here. (All dollars are in...
Selected financial data of two competitors, Target and Wal-Mart, are presented here. (All dollars are in millions.) Suppose the data were taken from the 2022 financial statements of each company. Target Wal-Mart (1/31/22) (1/31/22) Income Statement Data for ...
Selected financial data of two competitors, Target and Wal-Mart, are presented here. (All dollars are in...
Selected financial data of two competitors, Target and Wal-Mart, are presented here. (All dollars are in millions.) Suppose the data were taken from the 2022 financial statements of each company. Target (1/31/22) Wal-Mart (1/31/22) Income Statement Data for
Year
Net sales ...
1. Financial information is presented below: Operating expenses $ 40000 Sales returns and allowances 2000 Sales...
1.
Financial information is presented below:
Operating expenses
$ 40000
Sales returns and allowances
2000
Sales discounts
6000
Sales revenue
166000
Cost of goods sold
86000
The amount of net sales on the income statement would be
$160000.
$166000.
$158000.
$164000.
2.
Financial information is presented below:
Operating expenses
$ 60000
Sales returns and allowances
2000
Sales discounts
6000
Sales revenue
140000
Cost of goods sold
106000
Gross Profit would be
$36000.
$32000.
$34000.
$26000.
3.
Novak has the following...
Financial information is presented below for Amazon. Please find the missing amounts. Sales revenue $ (a)...
Financial information is presented below for Amazon. Please find
the missing amounts.
Sales revenue
$ (a)
Sales returns and allowances
3,000
Net sales
95,000
Cost of goods sold
(b)
Gross profit
36,000
Operating expenses
(c)
Income from operations
(d)
Other expenses and losses
7,000
Net income
11,000
Please Solve As soon as
Solve quickly I get you two UPVOTE directly
Thank's
Abdul-Rahim Taysir
What kind of information would a manager get from monitoring his Sales discounts and Sales R&A?...
What kind of information would a manager get from monitoring his
Sales discounts and Sales R&A? How would his decision making be
affected?
Presented here is the income statement for Fairchild Co. for March: Sales $ 84,000 Cost of...
Presented here is the income statement for Fairchild Co. for
March: Sales $ 84,000 Cost of goods sold 40,500 Gross profit $
43,500 Operating expenses 30,500 Operating income $ 13,000 Based on
an analysis of cost behavior patterns, it has been determined that
the company's contribution margin ratio is 34%.
Required: a. Rearrange the preceding income statement to the
contribution margin format.
Calculate operating income if sales volume increases by 6%.
(Do not round intermediate calculations.
Calculate the amount of...
Financial information for Kurzen Inc. is presented below.
Question Description
Financial information for Kurzen Inc. is presented below.
Instructions
Prepare a schedule showing a horizontal analysis for 2017 using 2016 as the base year.
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