Sales Cost of goods sold P800,000 480,000 320,000 Gross Profit Operating expenses 40,000 Selling Administrative 80,000 Total 120,000 Profit before income tax 200,000 60,000 Income tax expense Profit P140,000 Required: A. Prepare a vertical analysis of the income statement

Sales Cost of goods sold P800,000 480,000 320,000 Gross Profit Operating expenses 40,000 Selling Administrative 80,000 Total 120,000 Profit before income tax 200,000 60,000 Income tax expense Profit P140,000 Required: A. Prepare a vertical analysis of the income statement

Name: P800,000SalesCost of goods sold480,000Gross Profit320,000Operating ex
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Description: P800,000SalesCost of goods sold480,000Gross Profit320,000Operating expenses40,000SellingAdministrative80,000Total120,000Profit before income tax 200,000Income tax expenseProfit60,000P140,000Required:A. Prepare a vertical analysis of the income state

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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Find the Gross Profit
Income statement net sales $51,407.00 cost of products sold $25,076.00 gross profit $26,331.00 marketing, research, administrative exp $15,746.00 Depreciation $758.00 operating income(loss) $9,827.00 Interest expense $477.00 Earnings (loss)before income taxes $9,350.00 Income taxes $2,869.00 Net earnings(loss) $6,481.00 Balance Sheet Assets: Liablilites and Equity: cash and marketable securities $5,469.00 accounts payable $3,617.00 investment securities $423.00 accrued and other liablilties $7,689.00 accounts receivable $4,062.00 taxes payable $2,554.00 inventory $4,400.00 debt due within one year $8,287.00 deffered income taxes $958.00 total current liabilite $22,147.00 prepaid expense and other receivables $1,803.00 long term debt $12,554.00 total current assets $17,115.00 deferrred income taxes…
Use the following to answer the questions Net Sales $750,000 Gross profit $310,000 Beginning inventory $12,000 Purchases $444,000 Operating expense $215,000 Average tax rate 21% Cost of goods sold: V[Choose] $16,000 $298,000 Ending inventory: 70% $157,500 13% Operating income: $19,950 $456,000 $535,000 Income tax expense:
Excel form
Sales revenue $104,000 $enter a dollar amount Sales returns and allowances enter a dollar amount 4,000 Net sales 98,000 129,000 Cost of goods sold 64,600 enter a dollar amount Gross profit enter a dollar amount 56,760 Operating expenses 20,400 enter a dollar amount Net income enter a dollar amount 21,930 Calculate the profit margin and the gross profit rate for each company. (Round answers to 1 decimal place, e.g. 75.5%.) Crane Company Sheridan Company Profit margin enter profit margin in percentages rounded to 1 decimal place % enter profit margin in percentages rounded to 1 decimal place % Gross profit rate enter gross profit rate in percentages rounded to 1 decimal place % enter gross profit rate in percentages rounded to 1 decimal place %
Show Trend percentages in the multiple step income format only 20Υ8 20Υ7 Sales $900,000 $725,000 Cost of goods sold 558,000 435,000 Selling expenses 117,000 116,000 Administrative expenses 63,000 65,250 Income tax expense 76,500 58,000
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Sales Revenue $983,000 Cost of Goods Sold 489,000 Operating Expenses 243,000 Use this information to construct an income statement for the year 2019.
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Prepare Income statement Sales Accounts payable Selling expenses Administrative expenses Other revenues Cost of goods sold Cash Other expenses $30,000 3,000 4,000 5,500 10,000 13,500 12,000 7,000
If the gross profit 196 000 ID , other revenue and gains 4 360 ID , operating expenses 143.900 ID , net purchases 120 000 ID , the net profit is:-