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The Financial Statements

Cost Volume Profit Analysis: Netflix

Using the 10-k filing for Netflix, Break-even is the point where fixed costs equal the total contribution margin. Another way of saying the same thing is that break-even is the point where net income equals zero. The task for this fourth SLP is to further assess Netflix's financial position. Assume that 70% of the company'

Adding and Dropping Products: The Impact on the Income Statement

XY Company: Segmented Income Statement It is important to consider the financial impact of changing the product mix (i.e., adding or dropping products). Preparing a segmented income statement for various scenarios assists management in determining the estimated financial impact of making one choice over another. The case belo

Summarizing Activities with T-Accounts

Use T-accounts to summarize activities and prepare a classified income statement for April and a classified balance sheet at the end of April. > Pre-opening (March) You decide to go into the bicycle business and invest $100,000 of your own money. You rent a building in a shopping center for $3,000 per month, beginning

Variable Costs Income Statement

The Used Books Company is a small online retailer operating out of a garage apartment. The owner buys books at garage sales, thrift shops, library sales, and whenever an opportunity arises. The company classified all books into five categories based on cost of acquisition and estimated sales price. See below for details about bo

making balance sheet

Corn Company December 31, 1999 Cash $98,000 Gross account receivable $151,000 Allowance for doubtful accounts(tax,insurance) $12,000 Pre-paid expense $30,000 Inventory $689,000 Land $195,000 Plant/property/equipment (ppe) $912,000 Accumulated depreciation on ppe $613,000

Preparing a Bank Reconciliation for Compuville

Please help in preparing a bank reconciliation statement for the month. On Aug 14th, Compuville's cash book showed a debit balance of $4,000.00. The bank statement showed a balance of $4,270.00. In the comparison, the following was found: * check issued amounting to $2,500.00 has not been cashed * The bank rejected check

Trial Balance Sheet - Cuono Company

Joey Cuono started his own consulting firm, Cuono Company, on June 1, 2014. The trial balance at June 30 is shown below. CUONO COMPANY Trial Balance June 30, 2014 Account Number Debit Credit 101 Cash $6,200 110 Accounts Receivable 6,000

Analyzing Financial Statements for Planning and Cost

Write a memo to your superior analyzing the performance of SAC for 2010 and 2011. This analysis should be based on the information found in the consolidated financial statements. Your memo should include the following financial ratios and a comparison of the ratios over the two-year period: •current ratio •debt-to-equi

Comparative balance sheet data

Armada Company has these comparative balance sheet data: ARMADA COMPANY Balance Sheets December 31 2010 2009 Cash $25,000 $30,000 Receivables (net) 65,000 60,000 Inventories 60,000 50,000 Plant assets (net) 200,000 180,000 $350,000 $320,000 Accounts payable $50,000 $60,000 Mortgage payable (15%) 100,00

Preparing Financial Statements for A Company's First Year of Operations

Copies Express was incorporated on November 20, 2009, and began operating on January 2, 2010. The balance sheet as of the beginning of operations is shown in Exhibit 1. In preparing financial statements for the first year of operations, the accountant reviewed the record of cash receipts and cash disbursements for Copies Exp

Creating an income statement and balance sheet

Create an income statement and a balance sheet for years Y1 through Y5. You must use the accrual basis of accounting and apply GAAP accounting principles. Include the following five items on a separate sheet in the same EXCEL worksheet file: balance sheet; income statement; calculation of cost of goods sold, purchases, and endi

Balance sheet and Accounting for equity transactions

Using the Balance sheet dated 12/31/2012, record the transactions that happened during 2013 and complete a Balance sheet dated 12/31/2013. You must list any new assets and liabilities, but can keep the same amounts from the balance sheet dated 12/31/2012. Assume that the net income number includes all necessary revenues and expe

Providing Financial Statements for Loans

Question: Loretta Smith, president and owner of Custom Enterprises, applied for a $250,000 loan from City National Bank. The bank requested financial statements from Custom Enterprises as a basis for granting the loan. Loretta has told her accountant to provide the bank with a balance sheet. Loretta has decided to omit the other

Wood furniture manufacturing business financial statements

Need to: - Create pro-forma financial statements for the first five years of operations. - Document all assumptions - Support use of the assumptions. *****Company is seeking growth capital in the amount of $50,000 for the purpose of purchasing new and more modern equipment and for training existing personnel in the use

Net Income: Comparative Balance Sheet

Assets ...................................................Dec 31, 2013.......... Dec 31, 2012 Cash..............................................................$294....................... $96 Accounts receivable........................................168.........................120 Inventories.................................

Consolidated Financial Statements: Tall and Small Companies

4. Tall Company buys all of the outstanding stock of Small Company on November 1, Year One for $500,000 and is now preparing consolidated financial statements at the end of Year One. Small earned revenues of $10,000 per month during Year One along with expenses of $8,000 per month. On November 1, Year One, Small had only one as

Creating a t-account and balance sheet for Cougar Plastics

Textbook: Financial Accounting - Libby, Libby, and Short Cougar Plastics company has been operating for 3 years. At December 31, 2011, the accounting records reflected the following: Cash $19,000 Investments (short-term) $2,000 Accounts receivable $3

Elements of a Balance Sheet and How to Measure Them

You are an accountant for The Flower Shoppe. Your supervisor has asked you to help her prepare the year-end financial statements. Before you do, she wants to ensure that you understand some main points. Please see Excel attachment. A. Explain the following: 1. The elements of the balance sheet, their purposes, and how to me

Financial Statement Analysis for Bears, Inc.

Bears, Inc. has a book value of equity is $25.9 million dollars. Below is information about Bears and a peer group of companies. Market Cap (millions) PB(current) 5 year Historical Growth Rate ROE Debt-to-Equity ratio Bears, Inc.

Financial Statement Analysis - Kohls

Kohl's Corp. lists the following table in its 2011 Annual Report: In millions 2011 2010 2009 Net sales $18,804 $18,391 $17,178 Number of stores open at end of period 1,127 1,089 1,058 Sales growth: All stores 2.2% 7.1% 4.8% Comparable stores 0.5% 4.4% 0.4% Net sales per selling square foot $220 $222 $217 Requ

Balance Sheet/Single Step Income Statement

To prepare a comprehensive balance sheet and Single-Step Income Statement presented in good form and derived from a list of various accounts. The amounts relative to each account will be given and the student will learn to determine whether an account is a balance sheet account or a temporary account that belongs to the income s

Balance Sheet and Income Statement Analysis

The balance sheet and income statement shown below are for Kryloc Inc. You will find that the firm has no amortization charges. It also does not lease any assets and none of its debt must be retired during the next 5 years. The notes payable will be rolled over. Balance Sheet (Millions of $) Assets 2010 Cash and securi

Financial Statements of a Manufacturing Firm

Scenario: The following events took place for Salsa Inc. during October 2012, the first month of operations as a producer of road bikes: • Purchased $400,300 of materials. • Used $344,300 of direct materials in production. • Incurred $296,000 of direct labor wages. • Applied factory overhead at a rate of 75% of d

Analyzing Financial Statements

Explain how the concepts of liquidity, depreciability, marketability, and controllability apply to the following collateral: - A dentist's accounts receivable - A candy manufacturer's inventory - A publisher's printing press

Financial Issues on Statements

Provide some pointers on the following: 1. On Feb 15, 2011, this company (attached) filed bankruptcy. I need to find 3 things on the December 31, 2011 financial statements that indicate the company financial problems. 2. Company is currently reorganizing under bankruptcy court protection. Is there anything on the financial