User Account

All Pages

Prepare comparative income statement horizontal analysis

Assignment Help Accounting Basics
Reference no: EM131782310

Horizontal Analysis of the Income Statement

Income statement data for Boone Company for the years ended December 31, 2014 and 2013, are as follows:

      2014     2013
Sales $620,400 $470,000
Cost of goods sold 516,000 400,000
Gross profit $104,400 $70,000
Selling expenses $31,720 $26,000
Administrative expenses 28,600 22,000
Total operating expenses $60,320 $48,000
Income before income tax $44,080 $22,000
Income tax expenses 17,600 8,800
Net income $26,480 $13,200

a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for 2014 when compared with 2013. If required, round to one decimal place. Enter all amounts as positive numbers.

Reference no: EM131782310

Questions Cloud

What is the amount & character of rachels gain : deducted depreciation of $230. What is the amount & character of Rachel's gain or loss recognized on this sale
Discuss organizational management and behavior in sport : Discuss organizational management and behavior in sport. Title page: Include your name, the assignment title, and the name of the university.
Subject-training and develpoment : How can employee development activities be beneficial for companies and their employees? What are some examples of activities you've personally.
Learn about personality testing : Learn about personality testing. On the web, search for topics such as “personality testing,” “Myers-Briggs Type Indicator,”
Prepare comparative income statement horizontal analysis : Prepare a comparative income statement with horizontal analysis, indicating the increase
Who did the performance evaluation for the apprentice show : Who did the performance evaluation for the Apprentice Show?
What amount of loss can be recognized by cooper : At the time of the liquidation, the property had a FMV of $80,000. What amount of loss can be recognized by Cooper on the distribution of property
Describe what certificate of need laws : Describe what Certificate of Need (CON) laws are. Describe why CON laws could result in either positive or negative impacts on hospital efficiency.
Owned the strip on brenna side of the fence : Steven Fichera. Brenna never intended to take the land away from anyone. Brenna later brought an action against Steven to determine who owned.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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