Total revenue 1,448,956.00 463,666.00 652,030.00 100% 1,094,276.00 382,996.60 437,710.40 100% F&b expense Labor expense Other expense Total expenses 32% 35% 45% 40% 217,343.40 15% 17% 186,027.00 1,006,734.00 87,542.00 92% 92% 1,333,039.40 115,916.60 Profit 8% 8% Net profit percentage is still 8% in this year which is less than her profit goal of 10% hence, we can say that Anna is not able to meet her profit goal
Q: Prepare the necessary disclosures required by GAAP
A: ANSWER : Disclosures required by GAAP are given below :
Q: Income Statements for the years ending 31 December 20X1 20X2 Sales Cost of sales Gross profit…
A: Ratio Analysis - Ratio Analysis helps the investors or general public to understand and make…
Q: The following income statement for Curbstone Company was prepared for the year ended August 31,…
A: The income statement is prepared to find the net income or losses incurred during the period.
Q: S117,800 $63,000 $17,500 $76,000 $3,800 on Production Equipment erty Taxes Supervisor Salary $40.700
A:
Q: 36. ABC Industries has the following acount balances: Retained eamings Revenue Operating Expenses…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: 877 Stargel Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2…
A: As posted multiple sub parts we are answering only first three sub parts kindly repost the…
Q: For the Years Ended December 31, 20Y2 and 20Y1 Inc. Comparative Income Statement 20Y2 20Υ1 Sales…
A: As requested to help with questions 5 , 7 , 12 so we are answering only that.
Q: Income Statement Dec. 31, 2022 Company A Company B Sales P850,000 P1,350,000 Less: Cost of Goods…
A: Efficiency in the management of stock is judged by inventory turnover ratio and days inventory…
Q: (21,818) (23,306) Distribution costs (52,629) (39,703) Administration expenses (11,187) (7,929)…
A: Ratio analysis: It is fundamental equity analysis and analysizes company's liquidity, operational…
Q: A company reported a sale revenue for $700,000. The gross profit margin is 60% and the selling…
A: Definition: Net income: Net income is the excess amount of revenue that arises after deducting all…
Q: 2018 852,000 otal revenue expenses osts of goods sold elling/general experies 232,000 9,200 $402,000…
A: Formula used: Amount Increase = 2018 Amount - 2017 Amount
Q: Notes RO '000 RO *000 Revenue Operating costs Gross profit 15 16 17,658 (11,102) 6,556 18,017…
A: The Gross profit ratio and the Net profit ratio are important tools for analyzing the financial…
Q: Service revenue 110,500 Salary expense 44,850 12.
A: Introduction: Income statement: All revenues and expenses are to be shown in income statement. It…
Q: Sales 8.250.000.00 Operating costs 4,725.000.00 Operating income 3,525,000.00 Interest expense…
A: Formula: Economic value added (EVA) = Net operating profit after tax - Total invested capital x WACC…
Q: Revlon Company provided the following data for the current year. Segment Revenue Profit (loss)…
A: The information above shows that any operating segment with revenue equal toor greater than P200,000…
Q: Berry Corporation reports the following information. Year 7 Year 6 Cash $12,768 $11,592…
A: Residual operating income of the company is the Net operating profit after tax of current year minus…
Q: Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 1 20Y2…
A: Average Total assets = (Beginning Total assets + Ending Total assets) /2 = (9,024,000+8,254,000)/2…
Q: FILL - UP THE MISSING AMOUNTS: Sales CGS 40% GP 479,400 Expenses Net Profit (140,600)
A: The gross profit percentage is calculated as gross profit divided by net sales revenue.
Q: Sales Cost of goods sold Gross Profit Operating expenses P800,000 480,000 320,000
A: Formula used: Each line item value % = ( Each line item value / Sales value ) x 100
Q: Service revenue 110,500 Salary expense 44,850 Supplies expense 3,225 Insurance expense 1800…
A: Lets understand the basics. Income statement is prepared by management to know income expense and…
Q: FILL -UP THE MISSING AMOUNTS: Sales CGS GP 40% Expenses 421,800 Net Profit 58,200
A: The gross profit is calculated as difference between sales and cost of goods sold. The operating…
Q: 15 Sales 9,220,000.00 4,550,000.00 16 Cost of goods sold (d) 2,470,000.00 17 Gross profit (e) (e) 18…
A:
Q: Revenues €800,000 Income from continuing operations Comprehensive income Net income 100,000 120,000…
A: Income Statement - Statement of Income in case of multi step income statement dividend into detailed…
Q: The following extracts relate to Company X and Company Y for 20X1: Co X $000 Co Y $00 Revenue 20,000…
A: Operating profit margin = Operating profit / Revenue
Q: Use the information below provided by Angel Baby Angel Company: Sales 8,250,000.00 Operating…
A: WACC (r) = 8% Total invested capital (C) = 24,875,000 Tax rate (T) = 40%
Q: Sales revenue (all on account) $10,177,250 $9,614,00C Cost of goods sold 5,611,750 5,298,750 Gross…
A: The ratio analysis helps to analyse the financial statements of the business.
Q: Delta GMBH’s ROE is 8.9 percent. Sales are $2,956,000.00. Total debt ratio is 0.3743. Total debt is…
A: The ROA cane be calculated as per the DuPont Equation.
Q: Revenue P 3,560,241.12 P 5,349,715.16 P 7,115,176.08 P 8,995,838.82 P 10,997,370.77 P 13,125,662.04…
A: The word "payback period" alludes to how long it requires to recoup an investment's cost. Roughly…
Q: 9. Sales Purchases P3,348,000 2,150,000 70,000 95,000 185,000 202,000 78,000 56,000 44,000 35,000…
A: Income Statement - This statement shows the income earned and loss incurred by the organization in…
Q: Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 1 20Y2…
A: As posted multiple sub parts we are answering only first three sub parts kindly repost the…
Q: lf the income from operating 850 000 lD., other revenue and gains 150 000 lD ., income tax 40 000…
A: Given: Income from operating 850 000 lD Other revenue and gains 150…
Q: Jecember 31, 20Y2 and 20Y1 20Υ2 20Υ1 Sales... $10,000,000 $9,400,000 4,950,000 $4,450,000 $1,880,000…
A: Since we answer only up-to three sub-parts we shall answer first three. Please resubmit a new…
Q: Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 1 20Y2…
A: Average Total assets = (Beginning Total assets + Ending Total assets) /2 Average Total assets =…
Q: 877 Stargel Inc. Comparative Income Statement the Years Ended December 31, 20Y2 and 20Y1 20Υ2 20Υ1…
A: As posted multiple sub parts we are answering only first three sub parts kindly repost the…
Q: 2014 2013 Revenue $14,147,293 $13,566,296 Cost of goods sold $-8,447,560 $-8,131,586 Selling,…
A: Definition: Day's sales in inventory: This ratio tells the number of days company takes to sell its…
Q: Net income $127,530 Enterest expense 11,093 Average total assets 2,069,000
A: Return on assets is calculated by dividing Earning before interest and taxes by average total…
Q: 178,00 185,45 193,086 200,914 2021 2022 2023 2024 2021 2022 2023 2024 Net Sales (P). 384,000 393,600…
A: The question is related to Capital Budgeting. The details are given.
Q: Product W4 $16,000 $5,920 lle expenses xpenses for the entire company were $42,760.
A: Overall Break even point = total fixed cost/ weighted contribution Margin Overall Break even point…
Q: Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 1 20Y2…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: ASDF Corporate Income Statement Current Year Units Sold 100,000 $37.84 $3, 784,000 $1,284,000 Unit…
A: Break even unit sales can be described as the level of sale which generate enough revenue to cover…
Q: Revenue Expense Net Income 52.500 52,500 29.150 $ (29,150) 612.500 612.500 254,100 S (254,100)…
A: The income statement is prepared to find net income or losses incurred during the period.
Q: Company 1 (P) 720,000 25,000 -591,000 18,000 Company 2 (P) 1,820,000 Sales revenue Interest revenue…
A: Solution Concept Taxable income means the income that is chargeable to income tax Taxable income…
Q: Garden Sales, Inc., sells garden supplies. Management is planning its cash needs for the second…
A: Cash budget refers to an estimation of cash inflows and outflows in a business over a specified…
Q: Sales $79,000 $ 41,000 $72,000 $60,000 $ 40,000 $ 292,000 Expenses Avoidable 15,800 56,600 43,600…
A: Net loss refers to the situation when a company is not able to earn the desired amount of income or…
Q: aiysis 877 Stargel Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1…
A: 14) Return on common stockholders equity is the income generated by company for every dollar…
Q: ales $910,000 oss on sale of equipment $8,000 Cost of goods sold $495,000 Operating expense $175,000…
A: Solution: Net sales is the sales reduced by sales returns and allowances. Operating income is…
Q: The following scenario relates to questions 16 – 20. Summary financial information for ABC Co is…
A: Net profit margin is Ratio of Net profit to revenue Net Profit Margin = Profit After Interest and…
Was Anna effective in controlling her expenses?
the attached images are the problem and the answer.
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
- Chris is a financial manager for a small business. Right now, he's working on next year's budget. Money is tight, and each department has requested more money than Chris is able to budget for it. His best friend works in marketing and is pressuring Chris for an extra $5,000.00 for her advertising budget. Chris doesn't want to disappoint her but granting her the favor would mean taking money away from other departments. The decision is up to him, and his boss will trust his judgment. What should Chris do? Is it all right to let a personal relationship influence his budgeting decisions?Recently, the owner of KFC Franchise decided to change how she compensated her top manager. Last year, the manager received a fixed salary of GHC50,000 and KFC made GHC110,000 in profits (excluding the manager’s compensation). She feared that her store’s performance was connected to the top manager shirking on the job and expected that changes to her top manager’s compensation structure would improve sales. Therefore, this year she decided to offer him a fixed salary of $40,000 plus 5 percent of the store’s profit. Since the change, the store is performing much better, and she forecasts profits this year to be $300,000 (again, excluding the manager’s compensation). Assuming the change of compensation is the reason for owner make (net of payment to her top manager) because of this change? Does the manager make more money under the new payment scheme?Recently, the owner of KFC Franchise decided to change how she compensated her top manager. Last year, the manager received a fixed salary of GHC50,000 and KFC made GHC110,000 in profits (excluding the manager’s compensation). She feared that her store’s performance was connected to the top manager shirking on the job and expected that changes to her top manager’s compensation structure would improve sales. Therefore, this year she decided to offer him a fixed salary of $40,000 plus 5 percent of the store’s profit. Since the change, the store is performing much better, and she forecasts profits this year to be $300,000 (again, excluding the manager’s compensation). Assuming the change of compensation is the reason fothe increased profits, and the forecast is accurate, how much more money will the owner make (net of payment to her top manager) because of this change? Does the manager make more money under the new payment scheme?
- Recently, the owner of a Trader Joe's franchise decided to change how she compensated her top manager. Last year, she paid him a fixed salary of $65,000, and her store made $120,000 in profits (not counting payment to her top manager). She suspected the store could do much better and feared the fixed salary was causing her top manager to shirk on the job. Therefore, this year she decided to offer him a fixed salary of $30,000 plus 15 percent of the store's profits. Since the change, the store is performing much better, and she forecasts profits this year to be $280,000 (again, not counting the payment to her top manager). Assuming the change in compensation is the reason for the increased profits, and that the forecast is accurate, (a) Which compensation method (the old one or the new one) will the manager prefer? Please explain why. (b) Which compensation method (the old one or the new one) would the owner of the franchise prefer? Please explain why. (c) If there was another…- After closing her beloved restaurant due to the pandemic, Kiki started to sell her signature sauces to consumers. The ingredients for a sauce bottle cost $1.25 and packaging costs another $0.50. A distribution company handles the storage and distribution of the sauce and charges $0.75 or each bottle. Kiki has calculated that the overhead cost is $5000 per month. She sells one sauce bottle at $5.00 to the customers. a. How many sauce bottles must Kiki sell to break-even? What is the total revenue for breakeven? b. If she can sell only 1000 bottles, what should be the selling price to break-even?Smart owns multiple Burger restaurants. After months of struggling, one of the restaurants just must be closed, Smart knows that this loss will already cause a decrease in his reported net earnings, he decides to go ahead and charge a majority of the company's expenses to this business unit shut down. This is an example of ………. in earning Management
- Lorenzo, the owner of a local poster shop, comes to you for help. While his shop has been breaking even for the past two years, it has not been able to generate a profit. For him to keep the shop open, he needs to earn at least $12,000 in operating income next year. You agree to help Lorenzo and ask him for some current information about his products' selling price and costs. You tell him you will work through some possible scenarios that might involve changing his sales price to generate the number of units sold needed to reach his target profit. Lorenzo shares the following information with you as you ponder different scenarios to help your client. Selling price $7.50 Cost for paper, per unit $0.70 Cost for printing, per unit $1.10 Cost for film, per unit $0.60 Staff salaries $48,000.00 Other operating costs $12,120.00 Using Lorenzo's data and proper Excel formulas, first, plan to get an understanding of Lorenzo's financial situation based on breakeven. Then look at…Lisa is a contractor, and she owns a small home renovation company that specializes in kitchen renovations. Lisa fears she has been underbidding her projects, and that translates into lost profits that could help sustain her through slow periods. She is putting together an estimate for a potential client and has determined the following activities: Activity Cost Driver Rate Estimated Use for Job Demo of Existing Space Square Footage $3.26 /square foot 520 square feet Cabinet Installation # of Hours $205 /hour 8 hours Countertop Installation Square Footage $12.00/square foot 280 square feet Previously, Lisa was billing at a flat rate of $16 per square foot of the demo space with no additional markup. Lisa would like to add a 20% markup to the cost to arrive at the final bid price. Using Activity-Based Costing (ABC), what is the final bid price for her potential customer? (Round intermediate calculations and final answer to 2 decimal places, eg. 25,000.25.) Final bid price $Five fishermen live in a village and have no other employment or income earning possibilities besides fishing. They each own a boat that is suitable for fishing, but does not have any resale value. Fish are worth $5 per pound and the marginal cost of operating the boat is $500 per month. They all fish in a river next to the village, and they have determined that when there are more of them out there on the river fishing, they each catch less fish per month according to the following schedule: Boats Fish Caught per Boat (pounds) 200 190 175 155 5 130 Assume that the fishermen band together and act as a group. With 3 boats total, they will jointly make $ operation cost. Joint profit will be $ Hint: Do not use thousands separators. 1 2 3 4 +5 revenue and pay $ This will be equally divided among 5 fishermen, each will get $
- Kendall & Floyd provides landscaping services in Eastvale. Sara Kendall, the owner, is concerned about the recent losses the company has incurred and is considering dropping its yard cleanup services, which she feels are marginal to the company's business. She estimates that doing so will result in lost revenues of $67,800 per year (including the lost tree business from customers who use the company for both services). The present manager will continue to supervise the tree services with no reduction in salary. Without the yard cleanup business, Sara estimates that the company will save 14 percent of the equipment leases, labor, and other costs. She also expects to save 29 percent on rent and utilities. The Income statement before dropping the yard cleanup service follows. Required: a. Prepare a report of the differential costs and revenues if the yard cleanup service is discontinued. b. Should Sara discontinue the yard cleanup service? Complete this question by entering your answers…Timmy knows that Tammy, his boss at ABC Corp., desperately wants to bring the department in under-budget for the year so that she can earn herself a nice year-end bonus. And since Timmy is desperate to butter Tammy up and become her favorite employee, his brain churns out the following logic: Even though I used my own credit card to take that big group of customers out to eat and to the ball game last night, and even though the total cost was $1,200, I’ll not submit an expense report and so not get reimbursed, which will make Tammy very happy and she’ll like me very much! Oh, and since I file a Schedule C for my side business (tax return prep), I’ll just deduct the $1,200 there! Wonderful strategy! Do you agree with Timmy that his strategy is wonderful? Why or why not?Anita Hayes, who owns a travel agency, bought an old house to use as her business office. She found that the ceiling was poorly insulated and that the heat loss could be cut significantly if 6 in. of foam insulation were installed. She estimated that, with the insulation, she could cut the heating bill by $160 per month and the air-conditioning cost by $100 per month. Assuming that the summer season is three months (June, July, and August) of the year and that the winter season is another three months (December, January, and February) of the year, what is the most that Anita can spend on insulation that would make installation worthwhile given that she expects to keep the property for five years? Assume that neither heating nor air conditioning would be required during the fall and spring seasons. If she decides to install the insulation, it will be done at the beginning of May. Anita's interest rate is 9% compounded monthly.