Can someone help me find my old friends on here?

Darina [25.2K]

Answer:

its the 1st one

7 0

3 years ago

Vertical Analysis of Income Statement Revenue and expense data for Searle Technologies Co. are as follows: 20Y8 20Y7 Sales $900,

lara [203]

Answer:

Preparation of income statement is shown below:-

Explanation:

Comparative Income Statement

2018 2018 2017 2017

Amount Percent Amount Percent

Sales $900,000 100.0% $725,000 100.0%

Less:

Cost of Goods Sold $558,000 62.0% $435,000 60.0%

Gross Profit (A) $342,000 38.0% $290,000 40.0%

Selling Expense $117,000 13.0% $116,000 16.0%

Administrative

Expense $63,000 7.0% $65,250 9.0%

Total Operating

Expense (B) $180,000 20.0% $181,250 25.0%

Income from

Operation (A-B) $162,000 18.0% $108,750 15.0%

Less: Income

Tax Expense $76,500 8.5% $58,000 8.0%

Net Income $85,500 9.5% $50,750 7.0%

Formula for Computation of Percentage :- (Cost of Goods Sold or Gross Profit etc. of particular period ÷ Sales for such period)

6 0

4 years ago

What is the value of an annuity due at the end of 15 years of quarterly deposits of $2,000.00 with terms of 8 percent compounded

elena55 [62]

Explanations:

The formula for future value given

deposit amount, A = 2000

deposit interest, i = 8% annually = 8/4 = 2%, compounded quarterly

compounding period = quarterly

number of periods, n = 15 years = 4*15 = 60 periods (quarters)

The future value is given by:

FV = A*((1+i)^n-1)/i

= 2000*(1.02^60/0.02)

= $228103.08 (rounded to the nearest cent).

The difference in the answer choice is probably due to the teacher's calculator does not have sufficient accuracy.

4 0

3 years ago

A company has the following accounts receivable and estimates of uncollectible accounts: Accounts not yet due = $61,000; estimat

Firdavs [7]

Answer:

The correct answer is $71,290.

Explanation:

According to the scenario, the computation for the given data are as follows:

Accounts not yet due = $61,000

Estimated uncollectible = 4%

So, Total uncollectible for Account not yet due = $61,000 × 4% = $2,440

Now, Accounts 1-30 days past due = $27,000

Estimated uncollectible = 15%

So, Total uncollectible for Account 1-30 days past due = $27,000 × 15% = $4,050

Similarly, Accounts more than 30 days past due = $162,000

Estimated uncollectible = 40%

So, Total uncollectible for Account more than 30 days past due = $162,000 × 40% = $64,800

Hence, the total estimated uncollectible accounts = Total uncollectible for Account not yet due + Total uncollectible for Account 1-30 days past due + Total uncollectible for Account more than 30 days past due

By putting the value we get,

= $2,440 + $4,050 + $64,800

= $71,290

8 0

4 years ago

Exercise 12-7 cash flows from investing activities lo p3

Oksi-84 [34.3K]

Cash flow from investing activities are as follows:

Sale of Equipment $51300

Purchase of Truck ($89000)

Sale of Land $198000

Sale of Long Term Investments $60800

Net Cash Flow from Investing Activities $221100

Calculation of Receipts from sale of equipment are as below:

Book Value of Equipment 65300

Less Loss on Sale 14000

Proceeds from sale 51300

We shall ignore original coat of the asset to calculate the above. Also only cash flows shall be considered to find the cash flow from investing activities.

5 0

3 years ago