Construct brandywine 2007 income statement

Assignment Help Financial Accounting
Reference no: EM13183381

Brandywire Homecare, a not for profit business had revenues of $12 million in 2007. Expenses other thatn depreciation totaled 75 percent of revenues, and depreciation expense was 1.5 million. All revenues were collected in cash during the year and all expenses other than depreciation were paid in cash.

a. construct Brandywine 2007 income statement

b. what were brandywire net income, total profit margin,and cash flow?

c. Now suppose the company changed its depreciation calculations procedures (still within GAAP) susch that its depreciation expense doubled. How would this change affect Brandywines net income, total profit margin, and cash flow?

d. Suppose the change had halved, rather than doubled, the firms depreciation expense. Now what would be the impact on net income, total profit margin, and cash flow?

Reference no: EM13183381

Questions Cloud

Which of the drivers will buy the policy : Consider an economy with three types of drivers: safe (s), inexperienced (i), and crazy (c). There is an equal number of each of these drivers, and their wealth when they do not get into an accident is $324 per person. In any given year, the proba..
Determine the net operating profit or loss for the business : Determine the net operating profit or loss for the business. Provide detailed assumptions to support each line item in your Proforma P&L Statement.
Determine total net benefit to society of a quantity of good : when comparing a competitive market to a monopolistic market, A) the monopolistic supply curve is equal to the competitive supply curve B) the monopolistic marginal cost curve is equal to the competitive supply curve C)the monopolistic supply curve i..
Tetrahedral goles and the metal ions in octahedral holes : The structure of olivine [M2SiO4(whare M=Mg,Fe)] can be viewed as a ccp arrangment of oxide ions with Si(IV) in tetrahedral goles and the metal ions in octahedral holes
Construct brandywine 2007 income statement : Construct Brandywine 2007 income statement and what were brandywire net income, total profit margin,and cash flow?
State carbon and sulfer have identical electronegativities : CH3SH, has a substantial dipole mement (1.52) even though carbon and sulfer have identical electronegativities.
How should the firm determine the optimal level of output : Good Grapes is selling grapes in a purely competitive market. Its output is 5000 pounds, which it sells for $5 a pound. At the 5000-pound level of output, the average variable cost is $4.00, the marginal cost is $4.25, and the average total cost i..
State an investment company whose stock trades : An investment company whose stock trades based on supply and demand in the market rather than at net assets value
Compute unit product costs under each method : Explain how variable costing differs from absorption costing and compute unit product costs under each method, and Identify relevant and irrelevant costs and benefits in a decision situation.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Equity transactions and statement preparation

Equity Transactions and Statement Preparation - share cash dividend on common stock and declared preferred dividend.

  How much overhead may be allocated each time

How much overhead may be allocated each time a copy is made if cost allocations are computed to 4 significant digits?

  At what amount should alonzo record patent bb

When Alonzo acquired the patents, their fair market values were: Patent AA: $20,000; Patent BB: $240,000; and Patent CC: $60,000. At what amount should Alonzo record Patent BB?

  Journalization of transactions for production costs

Journalization of transactions for production costs as like of raw materials, labor, processing and overhead using transferred goods data and details.

  Macroeconomics is part of the economics concerned

Macroeconomics is part of the economics concerned with individual units such as a person, a household, a firm of an industry"

  What is the highest price at which pizza can be traded

What is the highest price at which pizza can be traded that would make both roommates better off? What is the lowest price? Explain.

  How much is the payment

The first payment is $300 and each successive payment will increase by a constant dollar amount x. How much is the constant amount x? How much is the 48th payment?

  How much advertising expense should be allocated

Advertising expense totaled $90,000 for the current year, and departmental sales were: How much advertising expense should be allocated to each department?

  Explain the relationship between expected inflation rates

explain the relationship between expected inflation rates in two countries and their interest rate differential according to the Purchasing Power Parity theory.

  Economic conditions and industry competition

Describe the background of the company and explain why you decide to choose this company and

  Journalize the february payroll

Fill in the missing amounts and Journalize the February payroll and the payment of the payroll.

  How should clyde treat

The agreement made no explicit allocation of any of the $600,000to Clyde's agreement not to compete against Red. How should Clyde treat the $600,000 payment on his 2010 tax return?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd