Carla Vista Co. was organized on April 1, 2021, by Margaret Moore. Margaret is a good manager but a poor accountant. Margaret used information from the unadjusted tabular summary to prepare the following income statement for the quarter that ended March 31, 2022. Carla Vista Co. Income Statement For the Quarter Ended March 31, 2022 Revenues             Rent revenue       $79,680   Operating expenses             Advertising expense   $4,032         Salaries and wages expense   26,496         Utilities expense   1,440         Depreciation expense   768         Maintenance and repairs expense   2,688             Total operating expenses       35,424   Net income       $44,256 Margaret knew that something was wrong with the statement because net income had never exceeded $20,000 in any one quarter. Knowing that you are an experienced accountant, she asks you to review the income statement and other data. You first look at the accounting records. In addition to the account balances reported in the income statement, the tabular summary contains these selected balances at March 31, 2022. Supplies   $4,320 Prepaid Insurance   6,912 Notes Payable   19,200 You then make inquiries and discover the following. 1.   Rent revenue includes advanced rentals for summer-month occupancy, $20,160. 2.   There were $576 of supplies on hand at March 31. 3.   Prepaid insurance resulted from the payment of a 1-year policy on January 1, 2022. 4.   The mail on April 1, 2022, brought the following bills: advertising for week of March 24, $104; repairs made March 10, $1,000; and utilities $232. 5.   Wage expense totals $280 per day. At March 31, 3 days’ wages have been incurred but not paid. 6.   The note payable is a 3-month, 7% note dated January 1, 2022. Prepare a correct income statement for the quarter ended March 31, 2022.

Redemption of Bonds Payable On December 31, a $1,950,000 bond issue on which there is an unamortized discount of $70,500 is redeemed for $1,908,400. Required:   Journalize the redemption of the bonds. Refer to the chart of accounts for the exact wording of the account titles. JOURNAL ACCOUNTING EQUATION     DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1                 2                 3                 4

Please help

Forecast Income Statement and Balance Sheet Following are the income statement and balance sheet for Medtronic PLC. Note: Complete the entire question using the following Excel template: Excel Template. Then enter the answers into the provided spaces below with two decimal places. Medtronic PLC   Consolidated Statement of Income   $ millions, For Fiscal Year Ended April 26, 2019 Net sales $30,557 Costs and expenses   Cost of products sold 9,155 Research and development expense 979 Selling, general, and administrative expense 10,418 Amortization of intangible assets 1,764 Restructuring charges, net 83 Certain litigation charges, net 166 Other operating expense, net 258 Operating profit 7,734 Other nonoperating income, net (157) Interest expense 1,444 Income before income taxes 6,447 Income tax provision 547 Net income 5,900 Net income loss attributable to noncontrolling interests (19) Net income attributable to Medtronic $5,881…

The following is the Room Department Statement of profit for  Calm Shore Hotel  for the year 31 December 2023.   Revenue                                                           $                   $                     $ Room Sales                                                                          800,000 Allowances                                                                                2,500 Net Revenue                                                                                              797,500 Expenses           Salaries & Wages                                   100,000           Employee Benefits                                   23,000                      Total Payroll & related expenses                       77,000           Other Expenses                      Commissions                        2,000                      Contract Cleaning                           5,000                      Laundry & Dry Cleaning                   6,500…

Blue Jay Way Travel Agency is a profit centre within a large tourism company. The following is the financial information for the agency for 2015 and 2016. Review the table and answer the related questions. 2016 2015 Tour Revenue $600,000 $700,000 Distributed Operating Expenses Payroll and Related Expenses $157,000 $250,000 Booking Fees $43,000 $50,000 A) Calculate the departmental income and departmental income margin for 2015 and 2016. Round to two decimal places. b) Comment on the change in departmental income and departmental income margin from 2015 to 2016. C) Calculate booking fees as a percentage of tour revenue for 2015 and 2016 and comment on the change, if any. In addition, calculate labour cost margin for 2015 and 2016 and comment on the change, if any. Use this information to give a possible reason for the change in departmental income margin from 2015 to 2016.