Yes the same header and footer can appear on multiple pages
Answer:
Net operating income= $83,714
Explanation:
Giving the following information:
Sales= $515,000.
Variable costs are 44 percent of sales
Fixed costs are $128,500
Depreciation is $49,750.
Tax= 24 percent.
<u>Income statement:</u>
Sales= 515,000
Total variable cost= (0.44*515,000)= (226,600)
Gross profit= 288,400
Fixed costs= (128,500)
Depreciation= (49,750)
Operating income= 110,150
Tax= 110,150*0.24= (26,436)
Net operating income= 83,714
Answer:
A) it is irrelevant to the baby products company.
Explanation:
Since in the question it is given that the you work in that company where the products of the baby are sold and your manager ask to conduct the research on the automotive sales so here the problem with regard to research objective is not relevant as we know that the reserach is expensive and time consuming too and it does not show the direct relation between the baby products sales and the automotive sales.
Therefore the option A is correct
Answer:
Revenue is understated by $1520
Profit is understated by $1520
Accounts receivable is understated by $1520
Retained earnings is understated by $1520
Explanation:
The guideline on recognition of revenue is accrual basis of accounting, which is that revenue is recognized when it has been earned, in other words when the business has discharged its obligation to the other party by a way of delivering goods or services to clients.
Specifically,by not recording an adjusting for the $1520 revenue earned but not yet received,the revenue for the period would be understated by $1520 as well as profit for the year.
Also,asset,accounts receivable would also be understated by $1520 including retained earnings at the end of the year
Answer:
<u>Cash Budget for the First Quarter.</u>
Total Receipts :
Collections From Customers $188,700
Sale of Equipment $3,060
$191,760
Total Payments :
Direct materials $43,860
Direct labor $71,400
Manufacturing overhead $35,700
Selling and administrative expenses $45,900
Purchase of securities $14,280
$210,840
Net Receipts / (Payments) ($19,080)
Opening Balance $30,600
Closing Balance $11,520
Required Balance $25,500
Loan (Shortfall) $14,250
Explanation:
A cash budget shows a future estimate of future cash incomes and cash expenditures.
