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4 years ago

Financial statements are reports on the financial performance of organizations. they provide data on

Business

1 answer:

gregori [183]4 years ago

8 0

Answer:

Financial statements are reports on the financial performance of organizations. They provide data on

a. The organization's profitability and goal achievement

b. Changes in the Cash flows and positions, according to activities

c. Financial position in terms of assets, liabilities, and stockholders' equity

Explanation:

The financial statements that provide the above data are the Income Statement, the Statement of Cash Flows, and the Balance Sheet. They are the main financial statements required by GAAP and investors who want to analyze the organization. In the case of governmental and non-profit making organizations, their income statement is known as a Statement of Revenue, Expenses, and Changes in Net Assets.

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Campus Stop, Inc., is a student co-op. Campus Stop uses a perpetual inventory system.

Zanzabum

Answer:

Campus Stop, Inc.

Partial Income Statement

Sales revenue $323,300

Sales returns ($1,730)

Sales discounts and allowances ($2,270)

Net sales $319,300

Cost of goods sold ($172,870)

Gross profit $146,430

Gross profit margin = $146,430 / $319,300 = 45.86%

8 0

3 years ago

LO 4.3From beginning to end, place these items in the order of the flow of goods.

mafiozo [28]

Answer:

cost of goods sold
raw materials inventory
work in process inventory
finished goods inventory

Explanation:

solution

As manufacturing industry always keep the track of costs of each inventory as product is moving from the raw material inventory in to the work in process and by the work in process it goes into the the finished goods inventory

so order of the flow of goods from beginning to end is

cost of good sold
raw material inventory : it is the total cost of material that is use in production process
work in process inventory : work in process inventory is continually update work cost is record
finished good inventory : after each job work complete then product is transfer to finished goods inventory

3 0

3 years ago

Palding hires an asian company to produce a specified volume of sports equipment that still carries spalding's name. this is an

nadezda [96]

Palding hires an asian company to produce a specified volume of sports equipment that still carries spalding's name. this is an example of contract manufacturing. Contract manufacturing occurs when a company hires a foreign company to produce a specified volume of the firm's product to specification. However, the final product carries the domestic firm's name.

3 0

3 years ago

Shelton, Inc. has sales of $435,000, costs of $216,000, depreciation expense of $40,000, interest expense of $21,000, and a tax

sattari [20]

Answer:

a. Net income = $107,200

b. Addition to retained earnings = $72,700

Explanation:

a. What is the net income for the firm?

Net income which also referred to a s net earnings is estimated by deducting cost of goods sold, selling and distribution expenses, administrative expenses, depreciation expenses, interest expenses, taxes, and other relevant expenses from sales.

b. What is the addition to retained earnings?

Addition to retained earnings is obtained by deducting the cash dividends from the net income.

For this question, the net income and addition to retained earnings can be calculated by preparing an income statement as follows:

Shelton, Inc.

Income Statement

For the year ....

Particulars $

Sales 435,000

Costs of sales (216,000)

Gross profit 219,000

Depreciation expense (40,000)

Interest expense (21,000)

Income before tax 158,000

Tax ($158,000 * 35%) (55.300)

Net income 102,700

Cash dividends (30,000)

Addition to retained earnings  72,700 

Therefore, Net income is $107,200, and addition to retained earnings is $72,700.

4 0

3 years ago

What would the year 3 stock price need to be to meet your required rate of return of 13%?

Drupady [299]

Answer: $105.49

Explanation:

The Value of the stock today is given by;

$P = \frac{D1}{1 + r} + \frac{D2}{(1+r)^2} + \frac{D3}{(1+r)^3} + \frac{P3}{(1+r)^3}$

$80 = \frac{2}{1 + 0.13} + \frac{3}{(1+0.13)^2} + \frac{4}{(1+0.13)^3} + \frac{P3}{(1+0.13)^3}$

$P3 = (80 * {1.13^3) - (\frac{2}{1.13} + \frac{3}{1.13^2} + \frac{4}{1.13^3})$

P3 = $105.49

8 0

3 years ago