Reference no: EM132945589
Financial Statements: as of the end of 20XX
a. Income Statement Data for 20XX:
Problem 1: Develop an Income Statement for 20XX, Cash Flow Statement for 20XX, and Balance Sheet based on the data provided below for year 20XX. All sales are collected when the sale is made and all expenses are paid when the expense is incurred. Explain the purpose of each financial statement.
Units produced and sold = 420
Sales ($80 per unit selling price) = $33600
Cost of goods sold ($30 per unit, all variable costs) = $12600
Labor = $0 (Mr. and Mr. Lee were the only ones working and did not pay themselves)
Advertising fees =$2000
Bank fees = $150
Phone/internet = $1200
Shipping ($3 per unit) = $1260
Utilities = $900
Office supplies = $800
Interest expense on note payable = $350
Depreciation expense (straight line) = $800
Income tax rate = 26 %
|
Is smog a secondary or primary pollutant
: Is smog a secondary or primary pollutant? Explain why.
|
|
What is the ending inventory on a lifo basis for july
: Assuming that a perpetual inventory system is used, what is the ending inventory on a LIFO basis for July? July 5 Purchases 187.0 units at $58.0
|
|
Policy and procedural documents
: What formats might apply to policy and procedural documents and what information should be in them?
|
|
Develop an ethical culture
: Using the organisational ethics framework designed to createn ethical culture through formal systems, identify the specific and inferred strategies used by the
|
|
Develop an income statement
: Develop an Income Statement for 20XX, Cash Flow Statement for 20XX, and Balance Sheet based on the data provided below for year 20XX.
|
|
Discuss four features of social e-commerce
: Discuss four features of social e-commerce that are driving its growth.
|
|
What respective amounts in the determination of cost of good
: Slovenia Company recorded purchases of P800,000, What respective amounts in the determination of cost of goods available for sale?
|
|
Calculate the total assets as of january
: Calculate the Total assets as of January. On the January Register worksheet, Determine whether each account in the column headings is an asset, liability
|
|
Difference in fdi inflows into the two countries
: In 2018, inward FDI accounted for some 63.7 percent of gross fixed capital formation in Vietnam, but only 4.1 percent in Japan (gross fixed capital formation re
|