1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
nirvana33 [79]
3 years ago
12

Consider the following simplified financial statements for the Wims Corporation (assuming no income taxes): Income Statement Bal

ance Sheet Sales $30,500 Assets $23,250 Debt $ 6,750 Costs 23,910 Equity 16,500 Net income $ 6,590 Total $23,250 Total $23,250 The company has predicted a sales increase of 20 percent. It has predicted that every item on the balance sheet will increase by 20 percent as well.Create the pro forma statements and reconcile them. (Input all answers as positive values. Do not round intermediate calculations.)
Business
1 answer:
AURORKA [14]3 years ago
6 0

Answer:

The proforma income statement and balance sheet are found in the attached

Above all,additional financing of $1982  is required to finance the growth of 20%

Explanation:

The additional finance is necessary as the assets required for the additional growth of 20% is worth $27900 while debt plus equity(including the added profit of $1318) only gives $25918,there resulting in shortfall in finance of $1982.

Also, a different source of finance other than debt can be used depending the interest applicable since the amount involved is minute.

Download xlsx
You might be interested in
Suver Corporation has a standard costing system. The following data are available for June: Actual quantity of direct materials
tatuchka [14]

Answer: $3.10

Explanation:

The actual price per pound of direct materials purchased in June will be calculated as follows:

Let the actual price be represented by x.

Material price variance is calculated as:

= (standard price-actual price) × actual quantity

-2000 = (3 × 20000) - 20000x

-2000 = 60000 - 20000x

20000x = 60000 + 2000

20000x = 62000

x = 62000/20000

x = 3.1

Therefore, the actual price per pound of direct material bought in June is $3.10

4 0
3 years ago
Kim's Bridal Shoppe has 10,200 shares of common stock outstanding at a price of $36 per share. It also has 215 shares of preferr
iVinArrow [24]

Answer:

a. .4223

Explanation:

Kim's Bridal shoppe has common stock, bonds and preferred stock in its capital. To identify capital structure weight of common stock we calculate value of each capital.  

Common Stock : 10200 shares * $36  = $367,200

Preferred Stock : 215 shares * $87 = $18,705

Bonds Outstanding : 520 Bonds * $1,000 * 93% of par = $483,600

Total capital : $367,200 + $18,705 + $483600 = 869,505

Common stock share : $367,200 / $869,505 = 0.4223

6 0
3 years ago
What corporation provided a grant to fund a program in the 1980s to expose young people to capitalism through FBLA?
sergij07 [2.7K]
<span>Future Business Leaders of America (FBLA) is a non-profit organization that helps students for their careers. The Chevron Corporation provided a grant to fund a program called "Getting Involved" in the 1980s to expose young people to capitalism through Future Business Leaders of America.</span>
6 0
3 years ago
Read 2 more answers
Which form shows a business's financial performance over a reporting period?
My name is Ann [436]

Answer:

d

Explanation:

4 0
3 years ago
appraisal report must include a disclosure of the scope of the work that: the client requested at the time of the assignment. th
vredina [299]

Answer:

The correct answer is the appraiser performed in the assignment.

Explanation:

In order to appraise, or evaluate someone's work, the report must include all details of the work performed. Otherwise, how else would that finished job be evaluated? It's important to describe the work done in order to determine how well or how badly the appraiser performed in the assignment, according to the appraisal report.

6 0
3 years ago
Other questions:
  • Explain how the production possibilities curve can be used to illustrate each of the following: a. wastefulness b. what happens
    12·1 answer
  • A firm has sales of $1.8 million, and 20 percent of the sales are for cash. The year-end accounts receivable balance is $225,000
    5·1 answer
  • The HR manager of SuperGlam, an online discount fashion retailer, wanted to redesign the workflow in customer service, order ful
    7·1 answer
  • Juanita heard an argument in favor of increasing taxes in her local municipality. at the end of the presentation, she learned th
    10·1 answer
  • Even the best marketing communication can be wasted if the sender does not first
    7·1 answer
  • Travers Manufacturing incurred $106,000 of direct labor and $11,000 of indirect labor. The proper journal entry to record these
    14·1 answer
  • When making replacement decisions, the development of relevant cash flows is complicated when compared to expansion decisions.
    14·1 answer
  • Division A offers its product to outside markets for $30. It incurs variable costs of $11 per unit and fixed costs of $75,000 pe
    14·1 answer
  • Assume Argentina has production possibilities to produce either 35 batches of apples or 70 batches of peaches using 100 worker h
    7·1 answer
  • Refer to the data below to answer the following questions:
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!