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The following income statements are provided for Li Company's last two years of operation: 2012 2013 Number of units produced and sold 4,000 3,200 Sales revenue $59,200 $47,360 Cost of goods sold 29,000 25,000 Gross margin 30,200 22,360 General, selling and administrative expenses 9,700 8,420 Net income $20,500 $13,940 Assuming that cost behavior did not change over the two year period, what is the company's annual fixed general, selling, and administrative cost?
Calculate cash generated from operations during 20X8 and calculate interest paid and corporation tax paid during 2011.
Additionally, there was more negative evidence than positive evidence concerning profitability for Mobe in year 3. In its year 3 income statement, what amount should Mobe report as total income tax expense?
Find out how deferred taxes would be reported using IFRS at the time of your research. Explain why that approach might differ from the way British Airways reported deferred taxes at March 31, 2009.
Determine the variable cost per order shipped and determine the fixed shipping costs per quarter.
A not for profit agricultural society received a gift on 1/1/14 of a tractor. The society plans to use it to cut grass in its 3000 acre demonstration agricultural farm. The gift had been purchased by the donor for $50,000 but had a fair value of $60,..
Evaluate the following for Les Fleurs during 20X2 Net sales revenue, Cost of goods sold and Gross profit
Calculate operating income if sales volume increases by 20% and Determine the amount of revenue required for Edwards to break even
Describe the rules to determine whether to apply fresh start accounting to Kansas City - If fresh start accounting is appropriate, how will this company's assets be reported?
Calculate the break-even price. - What would the selling price have to be to get the target return? - What other factors besides break-even should you consider before setting price?
What advantages do you see for classifying interest expense as an investing cash flow rather than an operating cash flow? What is the advantage of classifying it as an operating cash flow? What is the advantage of classifying it as a financing ca..
The directors are wondering why we complicate a very simple way of calculating long service leave – why not “stick with” recognising the expense when we pay for it? What do you think we should do?
klingon company operates a free cafeteria for benefit of its employees. budgeted and actual costs in cafeteria for last
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