enhancement kits for fax machines. Sales have been very erratic‚ with some months showing a profit and some months showing a loss. The company’s contribution format: • Income statement for the most recent month is given below: Sales (13‚500 units at $20 per unit) . . . .... $270‚000 Variable expenses . . . . . . . . . . . . . . . . . . . . 189‚000 Contribution margin . . . . . . . . . . . . . . . . . . . 81‚000 Fixed expenses . . . . . . . . . . . . . . . . . . . . . … 90‚000 Net operating loss
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balance of $900. After analyzing the accounts in the accounts receivable subsidiary ledger‚ the company’s management estimates that uncollectible accounts will be $15‚000. What will be the amount of uncollectible accounts expense reported on the income statement? 1/11/2011 | Accounts Receivable | a | $ 900.00 | | | Sales revenue | a | | $ 900.00 | | Uncollectable-Account expense | b | $ 15‚000.00 | | | Allowance for uncollectible accounts | b | | $ 15‚000.00 | |
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B 5. A 6. C 7. B 8. C 9. B 10. B 11. C 12. B 13. A 14. A 15. C 16. D 17. A 18. C 19. C 20. B 21. B 22. A 23. D 24. D 25. B Question 2: A) KOHA PRODUCTS LT Projected Income Statement For Month Ended 30th April 2005 Total sales revenue ($5000 x 50 rings) .............................................................$250‚000 Less total variable costs: Variable costs (direct labour‚ direct material‚ variable overheads)
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Pinnacle income statement‚ which is located in the Pinnacle Income Statement worksheet of the Pinnacle-Financials Excel file. Use the income statement information to prepare a common-size income statement for all three years. Use the information to identify accounts for which you believe there is a concern about material misstatements. Use a format similar to the following: Estimate of $ Amount Account Balance of Potential Misstatement e. Use the three divisional income statements in the
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services. As a result‚ the financial statements of these businesses allow stockholders and owners analyze and monitor the performance of the business. Nonprofit organizations have a completely different purpose. When analyzing a nonprofit organization’s financial statements there is a great deal of information to be studied. The basic financial statements of a nonprofit organization includes: The Statement of Financial Position‚ The Statement of Activities and The Statement of Cash Flow. Understanding a
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per revenue hour for power is $4.70‚ and the cost per revenue hour for operations hourly personnel is $24.00. Continuing with the analysis a contribution margin income statement has been created to determine the potential profits Salem Data Services could earn assuming the intracompany usage was 205 hours. Examining this income statement‚ operating income is a net loss of $30‚014 (see Exhibit 1). This shows a 5% decrease in revenue hours‚ as related to intracompany hour’s reduction‚ will result
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David Marshall‚ Wayne McManus‚ and Daniel Viele “Accounting; What the numbers mean.” Both case studies bring about a better understanding of operating and financial leverage. This discussion includes the return on investment‚ return on equity‚ contribution margin‚ and break-even point. All these terms associate with the two types of leverage. The exertion of a force that creates an advantage describes the action of leverage. In engineering
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3. Create a contribution margin income statement for Salem Data Services. Assume that intra company usage is 205 hours. Assume commercial usage is at the March level. Contribution Margin Income Statement for Salem Data Services: Revenues Intra-company 82‚000 Commercial 110‚400 Total Revenues 192‚400 Variable expenses (power + hourly personnel) 9‚844 Contribution margin 182‚556 Fixed expenses Rent 8‚000 Custodial services
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Historical cost basis. Book value method. x Income statement approach. 4. (TCO G) The conclusions presented in FASB No. 157 support which FASB Conceptual Framework? (Points : 2) FASB Conceptual Framework No. 2 FASB Conceptual Framework No. 6 FASB Conceptual Framework No
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goods sold by the ending inventory. cost of goods sold by the beginning inventory. cost of goods sold by the average inventory. average inventory by cost of goods sold. 2. The order of presentation of nontypical items that may appear on the income statement is (Points: 4) Extraordinary items‚ Discontinued operations‚ Other revenues and expenses. Discontinued operations‚ Extraordinary items‚ Other revenues and expenses. Other revenues and expenses‚ Discontinued operations‚ Extraordinary items. Other
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