Fill in the blanks: OhLaLa Trading Corporation reported the following on its fifth year of operation: Sales,net of 1% withholding tax P4,950,000 Cost of sales 2,000,000 Interest from deposits,net of tax 75,000 Gain on sale of domestic stocks directly to buyer 150,000 Casual rent income, net of 5% creditable withholding tax 95,000 Interest income from advances to employees 50,000 Business Expenses 3,100,000 Estimated quarterly payments 10,000 Minimum Corporate Income Tax (MCIT) is NOTE: Answers are in numerical form. COMMA PESO SIGN and other characters are NOT REQUIRED. < Previous Shot on OnePlus Powered by Triple Camera

Fill in the blanks: OhLaLa Trading Corporation reported the following on its fifth year of operation: Sales,net of 1% withholding tax P4,950,000 Cost of sales 2,000,000 Interest from deposits,net of tax 75,000 Gain on sale of domestic stocks directly to buyer 150,000 Casual rent income, net of 5% creditable withholding tax 95,000 Interest income from advances to employees 50,000 Business Expenses 3,100,000 Estimated quarterly payments 10,000 Minimum Corporate Income Tax (MCIT) is NOTE: Answers are in numerical form. COMMA PESO SIGN and other characters are NOT REQUIRED. < Previous Shot on OnePlus Powered by Triple Camera

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Consider the following simplified financial statements for the Wims Corporation (assuming no income taxes): Income Statement Sales Costs Net income $46,900 41,140 $ 5,760 Balance Sheet Assets $22,700 Debt $ 6,700 Equity 16,000 Sales Costs Net income Total $22,700 Total $22,700 The company has predicted a sales increase of 18 percent. Assume the company pays out half of net income in the form of a cash dividend. Costs and assets vary with sales, ship but debt and equity do not. Prepare the pro forma statements. (Input all amounts as positive values. Do not round intermediate calculations and round your answers to the nearest whole dollar amount.) Pro forma income statement $ 55,342 Assets Total $ $ GA Pro forma balance sheet 26,786 Debt Equity 26,786 Total
The trial balance of Plano Company included the following accounts as of December 31, 2024: Sales revenue Interest revenue Gain on sale of investments Debits Credits $ 612,000 77,000 127,000 Cost of goods sold Selling expense Interest expense General and administrative expenses $ 455,000 133,000 23,000 86,000 Plano had 50,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 25%. Required: Prepare a single-step income statement with earnings per share disclosure. Note: Round earnings per share answer to 2 decimal places. PLANO COMPANY Income Statement For the Year Ended December 31, 2024 Revenues and gains: Total revenues and gains Expenses: Total expenses Income before income taxes Eamings per share
The Jacks corporation reported the following:i. Net income $ 840,000.00ii. Accounts payable and accruals $1,270,650.00iii. Interest expense $ 305,000.00iv. Return on asset 16%v. Tax rate 30%As the company’s business analyst, you know that Jacks finances only with debt and equity. 45%of its total invested capital is debt. Calculate and interpret the basic earnings power ratio, thereturn on equity, and the return on invested capital. Please show work
Brown Office Supplies recently reported $4422 in Net Income. It had $9,000 of bonds outstanding that carry a 7.0% interest rate, and its federal-plus-state income tax rate was 40%. How much was EBIT?. O $8,918 O $5,49 O $8,033 O $8000 O $7,223
18. The following financial information was provided by Anya Company: Net Income 8,255,000.00 NOPAT 75,785,000.00 EBITDA 143,000,000.00 Net Profit Margin 6.00% Operating capital 425,070,000.00 After tax cost of capital 12.00% Tax rate 35.00% Refer to Anya Company, calculate its sales. Use 2 decimal places in your final answer
In tax year 1, an electronics-packaging firm had a gross income of $33,000,000, $5,000,000 in salaries, $6,000,000 in wages, $1,000,000 in depreciation expenses, a loan principal payment of $250,000, and a loan interest payment of $200,000. Determine the net income of the company in tax year 1. The corporate tax rate is 21%. The net income of the company in tax year 1 is $ (Round to the nearest dollar.)
please help
INCOME TAXES SURVIVE Company reported net income for the current year 2020 before taxes is P3,511,000. The following differences were noted between the financial reporting and tax reporting: Financial Tax Interest on depository accounts P 53,000 Warranty expense 260,000 P 115,000 Revenue from installment sales 584,000 319,000 Advance collections from customers 75,000 Provision for probable losses 406,000 Insurance premiums on senior managers' life insurance 120,000 The income tax rate is 30% and is not expected to change in the future. Estimated tax payments for the last three quarters amounted to P850,000. . 1. At what amount should income tax expense be reflected in the income statement ending December 31, 2020?
How do I find the missing values
The following data were taken from the year-end records of Nomura Export Company: Statement of Earnings Items Year 1 Sales revenue Cost of sales Gross profit Operating expenses Earnings before income taxes Income tax expense (20%) Net earnings Earnings per share (10,000 shares outstanding) Statement of Earnings Items Sales revenue Cost of sales Gross profit Operating expenses Earnings before income taxes Income tax expense (20%) Net earnings Earnings per share (10000 shares) Required: Fill in all of the missing amounts. (Round "Earnings per share" to 2 decimal places.) Year 1 21,750 ? 68% ? 21,750 ? ? ? 2.90 2.90 $ Year 2 $ 219,000 Year 2 219,000 ? 30% ? 30,000 ? ? ? 30,000
The most recent financial statements for Mandy Company are shown below: Income Statement Balance Sheet $ 38,000 Debt 96,800 Equity $ 134,800 Total Sales Costs Taxable income Tax (23%) Net Income $ 98,400 Current assets 69,750 Fixed assets. Total Internal growth rate $ 28,650 6,590 $ 22,060 $ 49,200 85,600 $134,800 Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 35 percent dividend payout ratio. No external financing is possible. What is the internal growth rate? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.
I just need number 2, thanks!