Explore BrainMass

Income Statement

Restructing a Segmented Income Statement

Marioco, in Brazil, is organized into two divisions. The company's contribution format segmented income statement (in terms of the Brazilian currency Real) for last month is given below: Divisions Total company Cloth Leather Sales R3, 500,000 R2, 000,000 R1,500,000 Variable expenses 1,721,000

Restructing a Segmented Income Statement

Vabant PV of the Netherlands is a wholesale distributor of wine, in which it's sold throughout the European Community. The company profits are declining, which is causing a concern. To help understand the condition of the company, the managing director of the company has requested that the monthly income statement be segmented b

Income statement

Conor Company has decided to use the contribution approach to the income statement internally for planning purposes.The company has analyzed its expenses and developed the following cost formulas: Cost Cost Formula Cost of goods sold $ 25 per unit sold Advertising exp

Yumma: Income Statement and Return on Common Stock Equity

In 2010 Yumma Corporation had net sales of $600,000 and cost of goods sold of $360,000. Operating expenses were $153,000 and interest expense was $7,500. The corporation's tax rate is 30%. The corporation declared preferred dividends of $15,000 in 2010, and its average common stockholders' equity during the year was $200,000.

Budgeted Income Statement for Tilger Farm Supply Company

1. Sales: Quarter 1, 40,000 bags; Quarter 2, 55,000 bags. Selling Price is $60 per bag. 2. Direct materials: each bag of Basic II requires 6 pounds of Crup at a cost of $3 per pound and 10 pounds of Dert at $1.50 per pound. 3. Desired inventory levels: Type of inventory January 1 April 1 July 1 Basic II (bags) 10,000 15,

Cellular Technologies...

Can you help me get started with this assignment? Cellular Technologies manufactures capacitors for cellular base stations and other communication applications. The company's March 2009 flexible budget income statements show output levels of 7,500, 9,000, and 11,000 units. The static budget was based on expected sales of 9,00

Indicate the income statement equation and define each element.

? Indicate the income statement equation and define each element. ? Define accrual accounting and contrast it with cash basis accounting. Mostert Music Company had the following transactions in March: 1. Sold instruments to customers for $10,000; received $6,000 in cash and the rest on account. The cost of the instruments w

Consolidated Financial Statements - Income Taxes

Cremmins, Inc. owns 60 percent of Anderson. During the current year, Anderson reported net income of $200,000 but paid a total cash dividend of only $40,000. What deferred income tax liability must be recognized in the consolidated balance sheet? Assume the tax rate is 30 percent. a) $5,760 b) $9,600 c) $12,840 d) $28,8

P3-3A Mark Mader: Prepare a Tabular Analysis and Financial Statements

P3-3A Mark Mader created a corporation providing legal services, Mark Mader Inc., on July 1, 2007. On July 31 the balance sheet showed: Cash $4,000; Accounts Receivable $2,500; Supplies $500; Office Equipment $5,000; Accounts Payable $4,200; Common Stock $6,200; and Retained Earnings $1,600. During August the following tr

Kazak Import Company: Prepare an income statement for April

The post-closing trial balance of the Kazak Import Company at March 31 is as follows. Debit Credit Cash $ 321,000 Accounts Receivable 201,000 Inventory 504,000 Building and Equipment 1,560,000 Accumulated Depreciation $ 240,000 Accounts Payable 246,000 Salaries Payable 45,000 Common Stock 1,410,000 Retain

Compute fixed and variable costs; prepare a contribution format income statement

See the graphic in the attached file. EXERCISE 5-6 Cost Behavior; Contribution Format Income Statement Parker Company manufactures and sells a single product. A partially completed schedule of the company's total and per unit costs over a relevant range of 60,000 to 100,000 units produced and sold each year is given below

Bonus Expenses for Otto

Can you help me get started with this assignment? In January 2008, Otto, Inc. estimated that its year-end bonus to executive would be $720,000 for 2008. The actual amount paid for the year-end bonus was $660,000 The estimate for 2008 is subject to year-end adjustment What amount if any of expense should be reflected in

Non-controlling interest share of consolidated net income

Please help with the following problem. In computing the non-controlling interest's share of consolidated net income, how should the subsidiary's income be adjusted from intercompany transfers? a) the subsidiary's reported income is adjusted for the impact of upstream transfers prior to computing the noncontrolling intere

Preparing a reformulated income statement

The following numbers were extracted from a balance sheet (in millions) Operating assets 547 Financial assets 145 Total liabilities 322 From the liabilities $190 million were deemed to be financing liabilities. So i would like to learn how to reformulate a balance sheet that distinguishes items involved fro

Schedule of Cost of goods manufactured: Income Statement; Cost Behavior

I have attached a word document explaining the problem. Thank you Schedule of Cost of goods manufactured: Income Statement; Cost Behavior The following selected account balances for the year ended Dec 31 are provided for Valenko Company: Advertising expense........................$215,000 Insurance, Factory equipment......

Schedule of Cost of goods manufactured: Income Statement; Cost Behavior

I have attached a description of the problem in the word document. Thank you. Schedule of Cost of goods manufactured: Income Statement; Cost Behavior. Excel problem Various cost and sales data for Medco inc., are given below for the just completed year: 1. Purchase of Raw materials $90,000 2. Raw Materials inventory,

Financial Management: preparing an income statement

1.The following is the December 31, 2006 balance sheet for the Epic Corporation. ASSETS LIABILITIES Cash $ 70,000 Accounts Payable $ 100,000 Accounts Receivable 150,000 Notes Payable 120,000 Inventory 280,000

E-Company: prepare income statements using variable and absorption costing

The E-Company The E-Company manufactures trendy, high-quality moderately priced watches that it sells on the Internet. As the company's senior financial analyst, you are asked to analyze the overall profitability fo the current year. The CFO has heard that there are two different approaches for preparing income statements. Y

Absorption and Variable Costing income statements..

Magnani Company, which has only one product, has provided the following data concerning its operations for October, 2008. Selling price $97 Units in beginning inventory -0- Units produced 6,600 Units sold 6,200 Units in ending inventory 400

Questions regarding income statements

The Sterling Tire Company's income statement for 2007 is as follows (see attachment for chart). Given this income statement, compute the following: Degree of operating leverage. Degree of financial leverage. Degree of combined leverage. Break-even point in units.