Help next to accounting 101-10pts. for the first correct answer-Thanks!?
Company's financial information:
Average shares outstanding $20,000
Cost of Goods sold 36,000
Debt outstanding 65,000
General and admin. expenses 12,000
Income due expenses 20,000
Interest Expense 7,500
Payments to Owners 30,000
Rental revenue 50,000
Sales revenue 81,000
Selling revenue 28,000
service revenue 23,000
info provided, compute following amounts for the extent:
gross profit, operating expenses, income from operation, pretax income, lattice income, income per share.
I am failing and necessitate serious backing and dont enjoy time for tutoring. Also any dutiful websites? Thanks!
Answers:
Sales revenue 81,000
smaller number Cost of Goods sold 36,000
Gross profit 45,000
Operating expenses:
General and admin. expenses 12,000
Selling expenses 28,000
Sub-total 40,000
Income from operation 5,000
Add others:
Rental revenue 50,000
Service revenue 23,000
smaller amount Interest Expense (7,500)
Pretax income 70,500
smaller amount Income rates expenses (20,000)
Net income 50,500
EPS = 50,500/Average shares outstanding 20,000 = $2.525
Debt outstanding 65,000 and Payments to Owners 30,000 are match sheet items and I don't believe they numeral contained by income determination.
Note: Depending on the business of the co., rental and service revenue could be operating where grip they should form segment of income from operation.
Check something, you said sale revenue and selling revenue. Did you be going to this? It seem both are one and the same.
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Average shares outstanding $20,000
Cost of Goods sold 36,000
Debt outstanding 65,000
General and admin. expenses 12,000
Income due expenses 20,000
Interest Expense 7,500
Payments to Owners 30,000
Rental revenue 50,000
Sales revenue 81,000
Selling revenue 28,000
service revenue 23,000
info provided, compute following amounts for the extent:
gross profit, operating expenses, income from operation, pretax income, lattice income, income per share.
I am failing and necessitate serious backing and dont enjoy time for tutoring. Also any dutiful websites? Thanks!
Answers:
Sales revenue 81,000
smaller number Cost of Goods sold 36,000
Gross profit 45,000
Operating expenses:
General and admin. expenses 12,000
Selling expenses 28,000
Sub-total 40,000
Income from operation 5,000
Add others:
Rental revenue 50,000
Service revenue 23,000
smaller amount Interest Expense (7,500)
Pretax income 70,500
smaller amount Income rates expenses (20,000)
Net income 50,500
EPS = 50,500/Average shares outstanding 20,000 = $2.525
Debt outstanding 65,000 and Payments to Owners 30,000 are match sheet items and I don't believe they numeral contained by income determination.
Note: Depending on the business of the co., rental and service revenue could be operating where grip they should form segment of income from operation.
Check something, you said sale revenue and selling revenue. Did you be going to this? It seem both are one and the same.