Answer:
Accounts payable would be 20.42% of the balance sheet , when preparing a vertical analysis.
Explanation:
In the question it is told that Ginger bread is doing a vertical analysis, where when we have to calculate the percentage of certain item of the balance sheet , we will use formula -
( Balance sheet item / Total liability ) x 100
Given information - Accounts payable = $245,000
Total liabilities = $1200,000
Putting these values in formula -
= $245,000 / $1200,000 X 100
= .20416 X 100
= 20.416
= 20.42% ( APPROXIMATELY )
Answer:
1. Accept deposits;make loan;deposits.
2. Commercial banks, savings banks, savings and loan associations (thrifts), and credit unions.
Explanation:
Depository institutions are required to accept deposits and make loans although the general terms used to describe these financial products may vary across the various types of institutions. Non-depository institutions, in contrast, accept cash contributions from their customers, but the cash inflows are not called deposits instead, they're called shares or premiums.
Depository institutions include commercial banks, savings banks, savings and loan associations (thrifts), and credit unions.
Non-depository financial institutions include mortgage banks, pension funds, insurance companies, mutual fund, securities firms etc.
Answer:
$140,880
Explanation:
Taxable Income:
= Pre tax financial income - Interest income from municipal bond - fine for dumping hazardous waste + Depreciation as per books - Depreciation as per income tax
= $553,000 - $74,000 - $25,000 + $62,400 - $46,800
= $469,600
Therefore,
Income tax payable = Taxable Income × Tax rate
= $469,600 × 30%
= $140,880
Answer:
Yes she should.
Explanation:
The cash flow analysis is as shown below
Outflow Inflow Balance
Year 0 Total investment (10,350.00) - (10,350.00)
Year 1 Cash inflow - 1,300.00 (9,050.00)
Year 2 Cash inflow - 4,900.00 (4,150.00)
Year 3 Cash inflow - 4,400.00 250.00
Year 4 Cash inflow - 4,100.00 4,350.00
From the cashflow above, the business is in a net income position at the end of the 3rd year. As such, if she assigns a 3-year payback period to this project, she should add toys to her store.
Answer:
The Cost of Goods Manufactured for the year is $341,000
Explanation:
The computation the cost of goods manufactured is shown below:
= Beginning balance of work in process inventory + total manufacturing costs - ending balance of work in progress inventory
= $21,000 + $339,000 - $19,000
= $341,000
where,
Total manufacturing costs = direct materials cost + direct labor cost + manufacturing overhead cost
= $59,000 + $128,000 + $152,000
= $339,000