User Account

All Pages

What is operating income

Assignment Help Financial Accounting
Reference no: EM132986590

Question - Answer the following questions using the information below:

Beginning finished goods, 1/1/2015 $ 40,000

Ending finished goods, 12/31/2015 33,000

Cost of goods sold 250,000

Sales revenue 600,000

Operating expenses 120,000

Required -

1) What is cost of goods manufactured for 2015?

2) What is gross margin for 2015?

3) What is operating income for 2015?

Reference no: EM132986590

Questions Cloud

Do you think companies carry out financial reporting : In your opinion, do you think companies carry out financial reporting the same way? What steps would financial statements analysis framework take
Address the research topic : Many universities are still teaching online due to the impact of COVID-19. Murdoch University's Deputy Vice-Chancellor of Teaching and Learning asked you to con
Study of international business case study : Association for the Study of International Business - Prepare a comprehensive report for Mario in which you outline and analyze the possible revenue models
Make a schedule of estimated cash collections from revenue : Make a schedule of estimated cash collections from revenue for the first 6 months of 2020 for Bounce Athletics Ltd
What is operating income : Answer the following questions using the information below: Beginning finished goods, 1/1/2015 $ 40,000. What is operating income for 2015
Explain limitations of hedging the transaction exposure : Question - Explain the two (2) limitations of hedging the transaction exposure. Explain how a company can use a parallel loan to perform long-term hedge
Report the criminal activity : In a 1 to 2 page APA formatted MS Word document, answer the following questions:
Determine the effect the trust income will have : Scotty Mossop transferred investments that pay interest of $120,000 per annum to a family trust. Determine the effect the trust income will have
Making change and innovating in the organization : Best Entertainment has been in business for 30 years. In the first 20 years, they had no problem retaining a majority of the market share for their entertainmen

Reviews

Write a Review

Financial Accounting Questions & Answers

  The periodic inventory method is used

Inventory information for Part 311 of Monique Aaron Corp. discloses the following information for the month of June. June 1 Balance 304 units @ $13 June 10 Sold 205 units @ $31 11 Purchased 801 units @ $16 15 Sold 497 units @ $33 20 Purchased 502 uni..

  What are the research methods used to update knowledge

What are the research methods used to update knowledge of professional and legislative requirements relating to activity statements

  Show the value of the firm eps and rate of return

Show the value of the firm, EPS, and rate of return on the stock before and after the proposed restructuring. What changed?

  What will be the ebit if john renegotiates the contract

If John renegotiates the contract at a price of R10,00 per figurine, what will the EBIT be? John got into the novelties business almost by accident

  When recording accounting entry for borrowing typically show

When bonds are issued by a company, recording the accounting entry for the borrowing typically shows an increase in assets and an increase in liabilities

  Which includes details of processes

Which includes details of processes, procedures, and materials used in fabrication and is usually controlled by the contractor. Functional Baseline

  Explain the implication of reporting nci as a separate item

Discuss the implication of reporting NCI as a separate item of owner's equity.Non-controlling interest (NCI) is the ownership interest of those shareholders

  What the foreign exchange gain due to hedging instrument

What the foreign exchange gain due to hedging instrument (forward contract) on August 1 amounted to? Stark, Inc. placed an order for inventory costing 500,000

  Discuss what are three main characteristics of liabilities

Discuss What are three main characteristics of liabilities, and why is it important to classify liabilities into short-term and long-term? Include examples.

  Determine what rate of return must be earned

Determine what rate of return must be earned on the net proceeds to the corporation so there will not be a dilution in earnings per share

  What amount of gain should p company record on the books

This equipment was sold to a third party on January 1, 2017 for $1,440,000. What amount of gain should P Company record on its books in 2017?

  Show all required journal entries and adjusting entries

Show all required journal entries and adjusting entries on Sheffield's books to recognize the transactions and events described above.

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