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Pepsi [2]
1 year ago
8

check my workcheck my work button is now enableditem 1 north trails cinema, incorporated, operates movies and food concession co

unters throughout the united states. its income statement for the quarter ended june 30, 2019, reported the following (accounts are listed alphabetically in thousands): admissions revenue $ 490,100 concessions expenses 39,700 concessions revenue 311,500 film rental expenses 255,850 income tax expense 41,600 office expenses 255,400 rent expense 85,800 salaries and wages expense 74,000 net income (loss) ? required: solve for the missing amount by preparing an income statement for the quarter ended june 30, 2019. (enter your answers in thousands.)
Business
1 answer:
UNO [17]1 year ago
7 0

The Net Income for the quarter is give as: $90,850. See the attached for more explanation.

<h3>What is an Income Statement?</h3>

An income statement summarizes a company's sales, costs, and profitability over time. It is sometimes referred to as a profit-and-loss (P&L) or earnings statement.

It displays your revenue from the sale of goods or services expenditures to produce income and run your company

It is important to note that when there is a short fall between expense and income, it is referred to as Net Loss. The net financial position is derived by removing the sum of all expenses from the sum of all income streams.

The three main parts of an income statement is:

  • Revenue
  • Expenses; and
  • Profit.

Learn more about Net Income:
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____ is a planning process falling under the Project Integration Management knowledge area. Schedule development Develop project
lianna [129]

Answer:

Develop project management plan

Explanation:

Project integration management is the coordination of all aspects of a project. It involves coordination of the following: tasks, stakeholders, resources, along with any issues arising from parties in the project, evaluating resources, and making choices between different lines of action.

So developing a project management plan is a process that fall under integration management as defined.

3 0
3 years ago
Read 2 more answers
Following is selected financial information from General Mills, Inc., for its fiscal year ended May 29, 2016 ($ millions):
mojhsa [17]

Answer:

General Mills, Inc.

1. Income Statement for the fiscal year ended May 29, 2016:

Revenue                    $16,563.1

Cost of goods sold   $10,733.6

Gross profit                $5,829.5

Total expenses          $4,092.7

Net Income                 $1,736.8

2. General Mills, Inc. Balance Sheet for the fiscal year ended May 29, 2016:

Cash                             $763.7

Non-cash assets      20,948.6

Total assets             $21,712.3

Total liabilities          16,405.2

Stockholders' equity 5,307.1

Total Liab. + equity $21,712.3

3. General Mills, Inc. Statement of Cash Flows for the fiscal year ended May 29, 2016:

Cash from operating activities    $2,629.8

Cash from investing activities             93.4

Cash from financing activities*     (2,293.7)

Net Cash Flows                               $429.5

Cash, beginning year                        334.2

Cash, ending year                           $763.7

Explanation:

a) Interestly, General Mills, Inc.'s income statement shows the financial performance (profit points) of the company when revenue is compared with the cost of goods sold and the expenses.  The first profit point is the gross profit, which is the difference between revenue and cost of goods sold.   The second profit point is the net income, which is the difference between the gross profit and the expenses incurred for the period in running the business.

b) On the other hand, General Mills, Inc.'s balance sheet shows the financial position of the company.  They show what the business owns (assets) and what it owes (liabilities) outsiders and the owners of the company (equity).

c) While, General Mills, Inc.'s statement of cash flows shows the cash flows from operating, financing, and investing activities of the company, and the net cash flows for the period, which can be reconciled to the beginning cash to obtain the ending cash balance.

6 0
3 years ago
HELP ME PLEASE
ikadub [295]

Answer:

d

Explanation:is wrong i got it wrong on edg

3 0
2 years ago
When boating at night, what does a single white light on a boat tell you?
aniked [119]
The white light shows the location of the boat and is required on all motor powered boats
Red and green tell what direction the boat is facing
6 0
2 years ago
Read 2 more answers
This year Truckit reported taxable income of $160,000 and received $20,000 of municipal interest. Truckit paid $55,000 in entert
Lynna [10]

Answer: $76,400

Explanation:

GIVEN THE FOLLOWING :

TAXABLE INCOME = $160,000

MUNICIPAL INTEREST = $20,000

ENTERTAINMENT EXPENSE = $55,000

FUN.

CURRENT E&P = (taxable income + interest) - (expenses + Tax deduction).

CURRENT E&P = $160,000 + $20000 - (55000 + 15000 + (160,000*0.21))

CURRENT E&P = 160000 + 20000 - 55000 - 15000 - 33600)

THEREFORE CURRENT E&P = $76,400

8 0
3 years ago
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