Financial Statement Analysis Portfolio

Once account numbers have been enabled, where can the numbers be assigned and edited?

Aleks [24]

Answer: Chart of Accounts

Explanation:

Once account numbers have been enabled, the numbers be assigned and edited in the chart of accounts.

To assign the account numbers, one needs to go to the accounting menu and then the chart of accounts will be selected. After that, one will select batch edit which can be seen in the action menu and add the account numbers after which one will then save. In order to see the account numbers,one can then go to chart of accounts

6 0

3 years ago

A small italian grocery store sells five varieties of feta cheese. it offers bulgarian, french, danish, greek, and one that is p

Shkiper50 [21]

<span>Domestic products are generally cheaper due to lower shipping cost and few to no additional tariffs are levied on those goods. A side note: Since 2002 in the EU 'Feta' has had a protected designated origin; meaning that only cheese produced in a particular way from particular regions of Greece can be labeled for sale as 'feta.'</span>

6 0

3 years ago

The following information pertains to Peak Heights Company:

Delvig [45]

Answer:

Peak Heights Company

PEAK HEIGHTS COMPANY

Statement of Cash Flows

Operating Activities Section

Net income $15,625

Non-cash flow: Depreciation 6,700

Changes in working capital:

Accounts receivable -$4,400

Inventory 4,000

Salaries payable 750

Net cash from operating activities $22,675

Explanation:

A) Data and Calculations:

Peak Heights Company:

Income Statement for Current Year

Sales $85,900

Expenses Cost of goods sold $51,675

Depreciation expense 6,700

Salaries expense 11,900 70,275

Net income $15,625

Partial Balance Sheet Current year Prior year Changes

Accounts receivable $9,800 $14,200 -$4,400

Inventory 13,100 9,100 4,000

Salaries payable 1,620 870 750

5 0

3 years ago

Greenstream Insurance Agency prepares monthly financial statements. Presented below is an income statement for the month of June

scoray [572]

Answer:

Net Income $12,400

Explanation:

Preparation of a corrected income statement.

GREENSTREAM INSURANCE Agency Income Statement For the Month Ended June 30

RevenuesService Revenue $42,000

[$40,000 +(20%* $10,000).]

Expenses:

Salaries and Wages Expense $17,300

($12,000 + $5,300)

Rent Expense 4,200

Depreciation Expense 3,300

($2,800 + $500)

Supplies Expense 2,800

($0 + $2,800)

Utilities Expense 1,200

($0 + $1,200)

Advertising Expense 800

Total expenses 29,600

Net Income $12,400

(42,000-29,600)

Therefore the net income for the corrected income statement will be $12,400

8 0

4 years ago

Subway is a large chain of franchise sandwich shops. Marcia owns three Subway stores in a large city. At the end of the year, sh

RideAnS [48]

Answer:

Th answer is: I would reward the managers of restaurants 1 and 2

Explanation:

In my opinion Marcia should reward the two managers from restaurants 1 and 2 based upon the percentage of sales increase. She could give an X$ bonus to the manager of restaurant 1 as a prize for increasing sales by two percent. Then she could also give the manager of restaurant 2 the same X$ bonus but also give him (or her) a 3% raise.

I wouldn´t take any type of actions regarding the manager of restaurant 3. I would be let him know that I was rewarding the other managers because they performed better than him. I believe that rewards are usually more beneficial than punishments. I also believe people are selfish and greedy, so when manager 3 realizes he lost the opportunity of earning a bonus and a raise due to his poor performance, he will be motivated to work better next year.

4 0

3 years ago