User Account

All Pages

Discount financial services

Assignment Help Managerial Accounting
Reference no: EM13878551

1.Chuck s Brokerage Service (CBS) is a discount financial services firm offering clients investment advice, trading services, and a variety of mutual funds for investment. Chuck has collected the following information for October:

Advertising and marketing .......... $ 270,000
Brokerage commissions (revenues)....... 9,000,000
Building rent and utilities.......... 525,000
Fees from clients for investment advice...... 4,500,000
Fees paid to execute trades.......... 2,400,000
Labor cost for advice............. 900,000
Managers  salaries............. 750,000
Sales commissions to brokers......... 1,275,000
Training programs for brokers......... 6,000,000

Required:
Prepare an income statement for October for CBS.

Reference no: EM13878551

Questions Cloud

Bond investors the chance to profit from the firms potential : Warrents give bond investors the chance to profit from the firm's upside potential, leading some to compare warrants to a long-term call option. However, some factors distinguish warrants from call options. Exercising warrants can lead to the dilutio..
How would accounting software requirements : How would accounting software requirements for large corporations differ from requirements for small companies?
What are the distinguishing characteristics of cloud : What are the distinguishing characteristics of cloud computing?
Why do you think the client computer may be a better : Why do you think the client computer may be a better computer platform for presentation of data?
Discount financial services : 1.Chuck s Brokerage Service (CBS) is a discount financial services firm offering clients investment advice, trading services, and a variety of mutual funds for investment.
Develop a strategy for the launch of a new product : Develop a strategy for the launch of a new product
How does client server computing divide the processing : How does client server computing divide the processing load between the client and server?
Beta and required rate of return : A stock has a required return of 11%; the risk-free rate is 2.5%; and the market risk premium is 6%. What is the stock's beta? If the market risk premium increased to 10%, what would happen to the stock's required rate of return? Assume the risk-free..
What are some examples of turnaround documents : What are some examples of turnaround documents that you have seen?

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Manage budgets and financial plans

Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.

  Prepare a retained earnings statement

Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.

  Prepare a master budget for the three-month period

Prepare a master budget for the three-month period.

  Construct the companys direct labor budget

Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.

  Evaluate the predetermined overhead rate

Evaluate the Predetermined Overhead Rate

  Determine the company''s bid

Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.

  Compute the pool rates for the different activities

Complete the schedule to compute the pool rates for the different activities.

  Prepare Company financial statements

Prepare Company financial statements

  Prepare an analysis of terracycles

This individual assignment is based on the TerraCycle Inc.

  Discuss the ethical issues

Discuss the ethical issues

  Political resources in emerging markets

Calculate the GDP in Income Approach  and Expenditure Approach

  Management accounting - ehsan electronics company

A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.

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