User Account

All Pages

Determine the net income in the fourth year

Assignment Help Accounting Basics
Reference no: EM133126927

Question - A forecast using a percentage of sales model expects sales to increase by 5% over each of the next four years. If costs are proportional to sales at 80%, and last year's sales were $1,000, determine the net income in the fourth year?

a. $48.62

b. $145.86

c. $227.60

d. $243.10

Reference no: EM133126927

Questions Cloud

Prepare the journal entries to record the sale on november : The units have a list price of $700 each, but Thomas was given a 20% trade discount. Prepare the journal entries to record the sale on November
Prepare journal entries to record the sale of the excavators : Prepare journal entries to record the sale of the excavators in 2013, the recognition of warranty revenues, and use of economic resources to warranty claims
Business strategies to increase sales : Assume that Orion Star Sports and Outdoors Co. has engaged you as a consultant to advise them on business strategies to increase sales.
How much should facebook share price should be : Ratios can be used to calculate the company's stock values in a quick and easier way. How much should Facebook share price should be
Determine the net income in the fourth year : If costs are proportional to sales at 80%, and last year's sales were $1,000, determine the net income in the fourth year
How much did his meal cost him : Timothy Carter went out to eat with his girlfriend at a fancy restaurant. Given the cost of the meal ($150) plus the associated fees, how much did his meal cost
Concepts of managerial economics : Answer the following questions using the concepts of managerial economics
How much is hankins accounts receivable balance at december : Hankins Inc collects 25% of its net credit sales in month of the sale and 75% in the month following the sale. How much is Hankins Accounts Receivable balance
Explore the concept of willingness-to-pay : Let's explore the concept of willingness-to-pay with a thought experiment.

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the corporations taxable income for this year

What is the corporation's taxable income for this year

  Examine the transactions for errors

Would you please examine the following transactions for errors? If incorrect, explain why and provide me with the corrected journal entries

  Prepare the appropriate entries for Maywood

Prepare the appropriate entries for Maywood on January 1, 2021 and December 31, 2021, related to the lease. Record the lease payment

  Calculate the cost of goods completed during april

Calculate the cost of goods completed during April and the cost of the ending work-in-process inventory

  Complete long-term liabilities section of the balance sheet

The adjusted trial balance for Gilligan Corporation at the end of the current year contained the following accounts. Complete the long-term liabilities section

  Prepare journal entries to record the following transactions

Prepare journal entries to record the following transactions entered, answer the questions in accounting basics.

  Determine amount of depreciation each year for book purpose

Determine the amount of depreciation each year for book purposes and tax purposes

  An auditor ordinarily take when confirming cash balances

What steps does an auditor ordinarily take when confirming cash balances held on deposits with financial institutions? What additional steps should the auditor shave taken when they received the smudged fax copy printed on Bank of America letterhead..

  Compute the amount of the fire loss

The rate of gross profit was 25% of cost. Merchandise with a selling price of $5,000 remained undamaged after the fire. Compute the amount of the fire loss

  After-tax point of view

Mr. Z has asked your advice concerning which option would be most advantageous to him from an after-tax point of view. Prepare a brief memorandum in which you explain which alternative you would recommend and why.

  Cage company contracts to lease equipment for 5 years

Prepare the journal entry to record the lease payment of January 1, 2012, assuming reversing entries are not made.

  What is the effect on income before taxes

ACCT221 - Intermediate Accounting Assignment - What is the effect on income before taxes of the change requested by the controller

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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