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const2013 [10]
2 years ago
8

Identifying and Classifying Balance Sheet and Income Statement Accounts

Business
1 answer:
Anvisha [2.4K]2 years ago
3 0

Answer:

Staples, Inc.

a. Indication of whether each account appears on the balance sheet (B) or income statement (I):

Staples, Inc. ($ millions) Amount Classification

Sales                                                 $24,381 (I)

Accumulated depreciation                 4,067 (B)

Depreciation expense                           408 (I)

Retained earnings                              6,694 (B)

Net income (loss)                                   (211) (I)

Property, plant & equipment, net      6,030 (B)

Selling, general and admin expense 4,884 (I)

Accounts receivable                            1,816 (B)

Total liabilities                                     6,144 (B)

Stockholders' equity                          6,136 (B)

b) Total Assets = $3,779

Total Expenses = $5,292

c) Net Loss Margin = -0.87%

Total Liabilities-to-Equity Ratio = = 100.13%

Explanation:

a) Data and Calculations:

Total assets:

Accumulated depreciation                (4,067) (B)

Property, plant & equipment, net      6,030 (B)  

Accounts receivable                            1,816 (B)

Total assets  =                                  $3,779

Total Expenses:

Depreciation expense                           408 (I)  

Selling, general and admin expense 4,884 (I)

Total expenses =                              $5,292

Net profit (loss) margin = $(211)/ $24,381  * 100 = -0.865%

Total  liabilities-to-equity ratio = total liabilities/stockholders' equity * 100

= $6,144/$6,136 * 100

= 100.13%

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attashe74 [19]

Answer:

                            McDade Company

                  Comparative Income Statement

       For the Years Ended December 31, 2012 and 2011

                                       2012              2011              Change          %

Sales                      $16,800,000   $15,000,000      $1,800,000      12%

COGS                   ($11,500,000)  ($10,000,000)     $1,500,000      15%

Gross profit             $5,300,000     $5,000,000        $300,000       6%

Selling expenses    ($1,770,000)    ($1,500,000)        $270,000      18%

Adm. expenses      ($1,220,000)    ($1,000,000)        $220,000     22%

Operating exp.     ($2,990,000)   ($2,500,000)        $490,000   19.6%

Operating income   $2,310,000     $2,500,000        ($190,000)    -7.6%

Other revenue           $256,950         $225,000            $31,950    14.2%

EBT                          $2,566,950     $2,725,000        ($158,050)   -5.8%

Income taxes           ($1,413,000)    ($1,500,000)        ($87,000)   -5.8%

Net income                $1,153,950      $1,225,000        ($71,050)   -5.8%

6 0
3 years ago
How does the work done by agriculture communications professionals compare to and differ from that of other marketing workers?
Phoenix [80]

Answer:

Agriculture communications professionals need to have the same basic background on marketing, covering areas such as market research, product research, and market communication.

However, they will also need to have an agriculture-related background, because they need to understand the dynamics of the agriculture business, from farm issues, to the kind of crops or produce that they can buy or sell in a specific area, to even agricultural policy.

4 0
3 years ago
Stoneheart Group is expected to pay a dividend of $3.27 next year. The company's dividend growth rate is expected to be 3.4 perc
shepuryov [24]

Answer:

The stock price is $37.16

Explanation:

Dividend Valuation method is used to value the stock price of a company based on the dividend paid, its growth rate and rate of return. The price is calculated by calculating present value of future dividend payment.

Formula to calculate the value of stock

Price = Dividend / ( Rate or return - growth rate )

Price = $3.27 / ( 12.2% - 3.4% )

Price = $3.27 / 12.2% - 3.4%

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7 0
3 years ago
Recognizing an employee as the Star Performer of the Month would be satisfying the _____ need of the Maslow s hierarchy of needs
Vikki [24]

Answer:

The correct answer to the following question is Esteem need of Maslows hierarchy of needs.

Explanation:

Maslows hierarchy of need is a motivation theory given by Abraham maslow, according to him people are motivated in order to achieve certain. He has described his theory of needs as pyramid which consists of physiological needs, safety needs,  social needs, esteem needs and self actualization.

In esteem needs , maslow tells about people's need for appreciation and respect, after a person has achieved the first three basis needs , the persons behavior would be motivated by esteem needs. Because people have need for feeling prestige and sense of accomplishment, self worth and self esteem.

6 0
3 years ago
The following information is related to Dickinson Company for 2017.
MakcuM [25]

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