Share
Explore BrainMass

Income Statement

Roland Carlson Inc: Prepare two income statement formats & retained earnings

The following information was taken from the records of Roland Carlson Inc. for the year 2004. Income tax applicable to income from continuing operations $187,000; income tax applicable to loss on discontinued operations $25,500; income tax applicable to extraordinary gain $32,300; income tax applicable to extraordinary loss $20

Prepare an income statement

Selling,general, and administrative expenses $51,000 Accounts payable 85,000 Extraordinary gain from early retirement of bonds, net of tax expense of $28,000 104,000 Research and de

Costs of goods manufactured schedule, income statement, etc...

P1-4A The following data were taken from the records of Cruz Manufacturing Company for the year ended December 31, 2005. Raw Materials Inventory 1/1/05 $ 47,000 Factory Machinery Depreciation 7,700 Factory Insurance $ 7,400 Raw Materials Inventory 12/31/05 44,200 Factory Utilities 12,900 Finished Goods Inventory 1/1/05

Ratios and Income Statement

1. The Sally Corporation's income statement is given below. Sally Corporation Sales.......................................$250,000 Cost of Goods Sold....................... 145,000 Gross Profit.................

Prepare a common-size income statement, compute debt to equity ratios, etc.

Honda Motor COmpany is a Japanese automobile company with sales equivalent to $80 billion. The company's income statement and balance sheet for the year ended March 31,2000, are shown in Exhibits 16A-1 and 16A-2. Monetary amounts are in Japanese yen. 1. Prepare a common-size income statement, that is, one showing component

Multi & Single Income statements

PLEASE REVIEW MY PROBLEMS FOR ANY ERRORS. Multiple-step and Single-step) The accountant of Whitney Houston Shoe Co. has compiled the following information from the company's records as a basis for an income statement for the year ended December 31, 2004. Rental revenue $

Income Statement Preparation: Profit & Loss Accounting

See the attached file. 1. The summarized Balance sheet as at 30 April 2005 of Clutterbuck Ltd Was as follows $ Fixed Assets 2550000 Net current assets 950000 3500000 6% of debentures 2005/2006 150000 3350000 ordinary shares of $ 1 2500000 10 % redeemable preferences share of $1 300000 sh

Word Problem

Need to see how these are calculated. The Douglas Company manufactures ladders. The company's income statement for 2001 is as follows: Douglas Company Income Statement for Year Ended December 31, 2001. Sales (10,000 ladders @ $50 each) $500,000 Less: Variable costs (10,000 ladders at $20) 2

Lava Rocks - Contribution Margin, Break-even, Income Statement

Lava Rocks has fixed cost of $75,000 per month. Each model has the following identifiable sales price and variable material costs respectively. Kona $6,500 $2,600 Hilo $3,900 $1,950 Paris $4,200 $1,890 When Lava Rocks sells a bike through a distributor they pay a sales commission of 10% of the sales price. It sells

Income Statement

I need help with reconstructing a multiple step income statement including earnings per share. Problem (also attached): Problem At the end of 2003, vandals destroyed your financial records. Fortunately, the controller had kept certain statistical data related to the income statement, as follows: a. Cost of goods sol

Budget income statement

Please help me prepare a budget income statment using schedule A -F schedule; a sales oct nov dec jan feb mar apr 38000 25000 25000 62000 75000 38000 45000 schedule: b collections (per expected 60% same month, 30% net 30, 10% net 60 26300 47200 66100 51500 45900 schedual: c Pur

Need to answer the following question

Prepare in good form an income statement for ATM Cards, Inc. (see attachment)Take your calculations all the way to computing earnings per share. (see attached file for details)

Master Budget Income Statement

Russell Company has the following projected account balances for June 3O, 19x1: Accounts payable___________________$40,000 Accounts receivable________________100,000 Depreciation, factory_______________24,000 Inventories (5/31 & 6/30)__________180,000 Direct materials used______________200,000 Office salaries__

Income Statement

Last year, SOS a service company had sales of $820,000 and collected $700,000 cash from its sales; its customers still owed SOS $120,000 at the end of the year. Total Operating Expenses for the year were $620,000 including $90,000 of Depreciation Expense. All expenses, except depreciation was paid in cash. Please ignore

Income statement

What types of questions are answered by the income statements and the balance sheets?

Income statement, rate increases

Hello, Could someone help me with this. I have half done but got confussed. Please see the attached document. Thanks! The questions are as follows: 1) Prepare a projected income statement for Metropolitan News for the 20X3-X4 fiscal year using a format that shows the total variable costs and total fixed costs for the new

Calculate income statement information

Prepare contribution margin income statements at those volume levels. Compute West Coast's monthly operating income or operating loss if revenues are $500,000 and if they are $800,000. 1. Compute revenue and variable expenses for each cruise. 2. Use the income statement equation approach to compute the number of cruises th

Financial Accounting: Water Fun Store; prepare income statement and cash flows

The Water Fun Store is a retailer of water sports products for backyard swimming pools. During August, the firm had the following operating activities: Date Event Aug. 1 Bought $5000 of goods for resale from Pinetree Wholesalers on credit 5 Paid $450 to the local newspaper for advertising that ran during July. 6 Paid $

Income statement for fish farming business for 2002

In May of 2000 you graduated from Florida State and moved back home to Geneva. After a summer of fruitless interviewing you decided to start your own business. You have a degree in marine biology. Thus, in the fall of 2000 you became a fish farmer. You were aware of the demand for Salmon to supermarkets and restaurants. You were

Warranty expenses on balance sheets and income statements

Please help with the following problem involving financial accounting and bookkeeping. Company A provides warranties for many of its products. The January 1, 2002 balance of an estimated warranty liability account was 26,700. Based on an analysis of warranty claims during the past several years, this year's warranty provisio