Solution-Explain how this money was spent in 2010

Explain how this money was spent in 2010

Assignment Help Cost Accounting

Reference no: EM13508686

A.)Compare the percentage of growth in the net income from 2009 to 2010. Can stockholders expect a similar increase between 2010 and 2011?

B.)Assuming that MIC collected $120,000 cash from earnings (net income), explain how this money was spent in 2010.

C.) Assuming that MIC experiences the same percentage of growth from 2010 to 2011 as it did from 2009 to 2010, determine the amount of income from continuing operations that the owners can expect to see on the 2011 income statement.

D.) During the 2011, MIC experienced a $15, 000 loss due to storm damage (note that this would be shown as an extraordinary loss on the income statement).

Liabilities and common stock were unchanged from 2010 to 2011. Use the information that you computes in part c plus the additional information provided in the previous two sentences to calculate net income for 2011 and prepare a balance sheet as of December 31, 2011.

Reference no: EM13508686

Questions Cloud

What steps are involved in planning the costing framework : What steps are involved in planning the costing framework, how much time should be expended on account review?

What is the new market value of the company : Again, Inc., is proposing a rights offering. Presently, there are 450,000 shares outstanding at $90 each. There will be 80,000 new shares offered at $84 each.

Respond on cash inflow on the issuance date : Southlake Corporation issued $900,000 of 8% bonds on March 1, 20X1. The bonds pay interest on March 1 and September 1 and mature in 10 years. Assume the independent cases that follow.

Determine the change in the electrons energy : An electron is in a certain energy state in a one-dimensional, infinite potential well from x = 0 to x = L = 150 pm. What is the change in the electron's energy

Explain how this money was spent in 2010 : Can stockholders expect a similar increase between 2010 and 2011 - explain how this money was spent in 2010

Find the potential energy of this arrangement of charges : Three electrons are placed at the vertexes of an equilateral triangle with side length of 5.1 nm. find the potential energy of this arrangement of charges

How much additional funds afn will be needed : How much additional funds (AFN) will be needed

Compute tax depreciation for each year 2012-2017 : The asset has a useful life of 8 years and a salvage value of $4,000. For tax purposes, the MACRS class life is 5 years. Compute tax depreciation for each year 2012-2017.

How long does it take for the package to reach the ground : An airplane is flying horizontally with a constant velocity of 180 m/s at an altitude of 5400 m when it drops a package. How long does it take for the package to reach the ground

User Account

All Pages

Explain how this money was spent in 2010

Reference no: EM13508686

Reference no: EM13508686

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT