Corrected income statement for each quarter
Particulars First Quarter Second Quarter
Sales Revenue 12200 18800
Cost of goods sold
Beginning inventory 4100 4030
Purchases 3100 12700
Goods available for sale 7200 16730
Ending inventory 4030 9000
Cost of goods sold 3170 7730
Gross profit 9030 11070
Operating expenses 4800 5700
Pretax income 4230 5370
The income statement is one of the most common and important financial statements. The income statement, also known as the income statement (P&L), summarizes all income and expenses over a period of time, including the cumulative impact of income, profits, expenses, and loss transactions. The basic formula for the income statement is Income - Expenses = Net Income.
Learn more about Income statements at
brainly.com/question/24498019
#SPJ4
The entrepreneurs must be aware of the firm’s overall
financial position, in order to determine the amount of finance they need or
how much they will be able to use or the limit of their finance. Another thing
is, the financial status should also be monitored if there are any progress or
changes.
Answer:
$56,703
Explanation:
P=R(1-(1+i)^-n/i
Where P=500,000
R=?
i=10%
n=15
500,000=R(1-(1+.1)^-15/.1
R=500,000/7.61
R=$56,703
Answer:
a. 9.15 times
b. 4.61 times
c. 31.52%
d. 1.08 times
e. 20.88 %
Explanation:
<em>Note : I have attached the full question as image below.</em>
<em></em>
<em>Interest Coverage = Earnings Before Interest and tax ÷ Interest expense</em>
= $85,100 ÷ $9,300
= 9.15 times
<em>Fixed Charge Coverage = EBIT + Lease Payments ÷ Interest Payments + Lease Payments</em>
= $85,100 + $11,700 ÷ $9,300 + $11,700
= 4.61 times
<em>Profit margin = Operating Profit / Sales x 100</em>
= $85,100 / $270,000 x 100
= 31.52%
<em> Total asset turnover = Sales ÷ Total Assets </em>
= $270,000 ÷ $249,000
= 1.08 times
<em>Return on assets (investment) = Earning Before Interest after Tax / Total Assets x 100</em>
= ($45,480 + $9,300 x 70%) / $249,000 x 100
= 20.88 %
Answer: The type of organizational structure that this most closely resembles is the<em><u> Matrix</u></em> structure.
Explanation:
When a group of people in business are put into formal groups based on their diverse occupational specialties it is a <u><em>matrix structure</em></u>. The groups that are put together based on similar service, products, clients, customers, and the regions that they are from.
The relationships that each person has are usually set up on a reporting grid. They use the grid which is different than a traditional reporting hierarchy. Each manager has a dual reporting relationship with each other. They can work as a regular functional manager and also a product manager.