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American Public University *
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600
Subject
Finance
Date
May 17, 2024
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1
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WESTON ENTERPRISES 2020 Income Statement Sales $17.547 Costs 5,209 Depreciation 1,536 Interest paid 714 a. What was owners' equity for 2019 and 20207 (Do not round intermediate calculations.) b. What was the change in net working capital for 20207 (Do not round intermediate calculations.) c-1. In 2020, the company purchased $3.114 in new fixed assets. How much in fixed assets did the company sell? (Do not round intermediate calculations.) c-2. In 2020, the company purchased $3.114 in new fixed assets. What was the cash flow from assets for the year? The tax rate is 21 percent. (Do not round intermediate calculations.) d-1. During 2020, the company raised $777 in new long-term debt. How much long-term debt must the company have paid off during the year? (Do not round intermediate calculations.) d-2. During 2020, the company raised $777 in new long-term debt. What was the cash flow to creditors? (Do not round intermediate calculations.) a. |Owners' equity 2019 $ 32320 Owners' equity 2020 $ 32340 b. |Change in NWC $ 240 :' Fixed assets sold $ 13378 ;’ Cash flow from assets |$ 84198 g' Debt retired $ 514 g' Cash flow to creditors $ 451
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Related Questions
Question.
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WESTON ENTERPRISES
2019 and 2020 Partial Balance Sheets
Assets Liabilities and Owners’ Equity
2019 2020 2019 2020
Current assets $ 1,248 $ 1,305 Current liabilities $ 568 $ 600
Net fixed assets 5,777 6,023 Long-term debt 3,228 3,489
WESTON ENTERPRISES
2020 Income Statement
Sales $ 17,529
Costs 5,203
Depreciation 1,532
Interest paid 708
a. What was owners' equity for 2019 and 2020? (Do not round intermediate calculations.)
b. What was the change in net working capital for 2020? (Do not round intermediate calculations.)
c-1. In 2020, the company purchased $3,110 in new fixed assets. How much in fixed assets did the company sell? (Do not round intermediate calculations.)
c-2. In 2020, the company purchased $3,110 in new fixed assets. What was the cash flow from assets for the year? The tax rate is 25 percent. (Do not round intermediate calculations.)
d-1. During 2020, the company raised $772 in new…
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I NEED HELP WITH D AND F OF THIS PROBLEM
Rhodes Corporation’s financial statements are shown below.
Rhodes Corporation: Income Statements for Year Ending December 31(Millions of Dollars)
2020
2019
Sales
$
12,000
$
10,000
Operating costs excluding depreciation
10,634
8,702
Depreciation and amortization
410
390
Earnings before interest and taxes
$
956
$
908
Less interest
260
200
Pre-tax income
$
696
$
708
Taxes (25%)
174
177
Net income available to common stockholders
$
522
$
531
Common dividends
$
203
$
200
Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars)
2020
2019
Assets
Cash
$
550
$
500
Short-term investments
220
200
Accounts receivable
2,750
2,500
Inventories
1,550
1,300
Total current assets
$
5,070
$
4,500
Net plant and equipment
3,650
3,500
Total assets
$
8,720
$
8,000
Liabilities and Equity
Accounts payable
$
1,100
$…
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Mesflo Enterprise,
Income Statement
For the Year Ended 31st December, 2020
Sales
$442 500
Cost of goods sold
Operating expenses
Interest expense
Income tax expense
Depreciation expense
$225 000
162 000
5 250
11 250
18 000
(421 500)
(4 500)
Loss on sale of a plant asset
Gain on retirement of debt
Net Income
12 000
28 500
Additional Information
1. All sales were on credit
2. All purchases were on credit
3. Plant assets that cost $52 500 were purchased for $7 500 and
issuing $45 000 of bonds payable to the seller
4. Plant assets with an original cost of $22 500 and accumulated
depreciation of $9 000 were sold for $9 000 cash. The result was
a loss of $4 500.
5. The proceeds from issuing 2 250 ordinary shares were $11 250.
6. The $12 000 gain on retirement of bonds resulted from paying $13
500 to retire bonds that had a book value of $25 500.
7. Cash dividends of $10 500 were declared and paid.
Required:
1. Prepare a statement of cash flows that reports the cash inflows
and outflows from…
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4. Net income for Jimin Company for 2020 includes the effect of the following transactions
involving the sale of fixed assets:
Sales Price
P20,000
25,000
Purchases of fixed assets during 2020 amounted to P340,000. The Accumulated Depreciation
account increased P40,000 during 2020. How much is the depreciation expense for 2020?
Cost
P 80,000
150,000
Gain (Loss)
P 10,000
(18,000)
Asset
Y
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Income S.atement
For the Year Ended June 30, 2020
Net sales
P2,430,500
Cost of goods sold (including depreciation
of P191,500)
P1,073,000
Operating expenses (including depreciation
of P100,000)
500,000
7,500
(26,000)
(15,000)
(44,000)
356,000
P1,851,500
P 579,000
Interest expense
Gain on sale of equipment
Gain on sale of trading securities
Unrealized holding gain on trading securities
Income tax
Total
Net income
Texas Company
Balance Sheets
June 30
2020
2019
Assets
P442,000
325,000
P532,000
275,000
141,500
168,500
450,000
43,000
1,095,000
352,000
P3,057,000
Cash
Trading Securities(market)
Accounts receivable
80,500
Inventories
86,000
Investment in Associates (cost)
43,000
321,500
Land
Buildings (net)
Equipment (net)
Total assets
242,500
P1,540,500
Liabilities & Equity
P 93,500
P107,500
50,000
41,500
156,500
Accounts payable
Short-term bank loans payable
Accrued operating expenses
Income tax payable
Bonds payable (net)
Common stock, P10 par value
Additional paid in capital
Retained…
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Net income for Inkaleb Inc. for 2020 includes the effect of the following transactions involving the sale of fixed assets.
Asset Sales Price Cost Gain (Loss)X P20,000 P 80,000 P 10,000Y 25,000 150,000 (18,000)Purchases of fixed assets during 2020 amounted to P340,000. The Accumulated Depreciation account increased P40,000 during 2020. How much is the depreciation expense for 2020?
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Partial Income Statement of ABC Corp. In 2021 Sales revenue $350,200 Cost of goods sold $142,000 Fixed costs $43,000 Selling, general, and administrative expenses $27,800 Depreciation $45,800 Interest expense $0 Tax rate 40% The Net Income for ABC Corp. in 2021 is $___________ (round to the nearest dollar amount)
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Storme Imports Company (SIC)
Tax Rate
COMPARITIVE INCOME STATEMENT
30%
for years ended 31 December
2018
2019
$
*Sales revenue
1,420,000
*Interest revenue
511,500
*Investment Income
52,500
*Other revenue
89,500
Discuss with CEO and Consulting Team
2,073,500
Expenses and losses
**Cost of goods sold
460,000
**Selling and admin administrative
195,000
***Computer (operating)
**Depreciation
55,000
**Interest expense
25,200
Total expenses and losses
735,200
Income before taxes
1,338,300
Income tax expense (30%)
401,490
Net Income
936,810
1. Complete the formulas in cells provided for revenues* for 2019. 2019 revenues have increased by ¾ %…
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Rhodes Corporation’s financial statements are shown below.
Rhodes Corporation: Income Statements for Year Ending December 31(Millions of Dollars)
2020
2019
Sales
$
12,000
$
11,000
Operating costs excluding depreciation
10,522
9,674
Depreciation and amortization
410
370
Earnings before interest and taxes
$
1,068
$
956
Less interest
180
100
Pre-tax income
$
888
$
856
Taxes (25%)
222
214
Net income available to common stockholders
$
666
$
642
Common dividends
$
203
$
200
Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars)
2020
2019
Assets
Cash
$
650
$
600
Short-term investments
210
200
Accounts receivable
2,750
2,500
Inventories
1,950
1,800
Total current assets
$
5,560
$
5,100
Net plant and equipment
3,850
3,500
Total assets
$
9,410
$
8,600
Liabilities and Equity
Accounts payable
$
1,300
$
1,200
Accruals
650
600
Notes…
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Rhodes Corporation’s financial statements are shown below.
Rhodes Corporation: Income Statements for Year Ending December 31(Millions of Dollars)
2020
2019
Sales
$
12,000
$
11,000
Operating costs excluding depreciation
10,522
9,674
Depreciation and amortization
410
370
Earnings before interest and taxes
$
1,068
$
956
Less interest
180
100
Pre-tax income
$
888
$
856
Taxes (25%)
222
214
Net income available to common stockholders
$
666
$
642
Common dividends
$
203
$
200
Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars)
2020
2019
Assets
Cash
$
650
$
600
Short-term investments
210
200
Accounts receivable
2,750
2,500
Inventories
1,950
1,800
Total current assets
$
5,560
$
5,100
Net plant and equipment
3,850
3,500
Total assets
$
9,410
$
8,600
Liabilities and Equity
Accounts payable
$
1,300
$
1,200
Accruals
650
600
Notes…
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PARROTHEAD ENTERPRISES
2020 and 2021 Partial Balance Sheets
Assets
2020
2021
Liabilities and Owners’ Equity
2020
2021
Current assets
$ 1,278
$ 1,403
Current liabilities
$ 566
$ 613
Net fixed assets
5,057
6,120
Long-term debt
2,760
2,939
PARROTHEAD ENTERPRISE
2021 Income Statement
Sales
$ 15,874
Costs
7,243
Depreciation
1,435
Interest paid
436
a.
What is owners' equity for 2020 and 2021?
b.
What is the change in net working capital for 2021?
c-1.
In 2021, Parrothead Enterprises purchased $2,640 in new fixed assets. How much in fixed assets did the company sell?
c-2.
In 2021, Parrothead Enterprises purchased $2,640 in new fixed assets. What is the cash flow from assets for the year? The tax rate is 24 percent.
d-1.
During 2021, Parrothead Enterprises raised $564 in new long-term debt. How much long-term debt must Parrothead Enterprises have paid off during the year?
d-2.
During 2021, Parrothead Enterprises raised $564 in new…
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Prepare an Income Statement of Company Alfex as at 31 Dec. 2020.a) Write off (in minus) of short-term financial assets 9 000b) Other costs by nature 4 000c) Change in inventories of traded goods + 2 000d) Revenue from sale of building 50 000e) Income tax 10%f) Revenue from sale of traded goods 12 000g) Retained profits from previous years 10 000h) Accumulated depreciation of building 49 000i) Historical cost of building 102 000
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Current Attempt in Progress
Sheridan Inc. reported the following for 2023:
Sales Revenue
Cost of Goods Sold
Selling and Administrative Expenses
Loss on Disposal of Equipment
Unrealized Gain-OCI
$1,512,000
874,000
216,000
(12,300)
14,400
Prepare a statement of comprehensive income. Ignore income tax and EPS. Assume Sheridan follows IFRS.
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Financial information for Powell Panther Corporation is shown below:
Powell Panther Corporation: Income Statements for Year Ending December 31 (millions of dollars)
2021
2020
Sales
$
2,500.0
$
2,000.0
Operating costs excluding depreciation and amortization
1,938.0
1,700.0
EBITDA
$
562.0
$
300.0
Depreciation and amortization
62.0
54.0
Earnings before interest and taxes (EBIT)
$
500.0
$
246.0
Interest
55.0
44.0
Earnings before taxes (EBT)
$
445.0
$
202.0
Taxes (25%)
178.0
80.8
Net income
$
267.0
$
121.2
Common dividends
$
240.3
$
97.0
Powell Panther Corporation: Balance Sheets as of December 31 (millions of dollars)
2021
2020
Assets
Cash and equivalents
$
36.0
$
30.0
Accounts receivable
375.0
300.0
Inventories
468.0
360.0
Total current assets
$
879.0
$
690.0
Net plant and equipment
621.0
540.0
Total assets
$
1,500.0
$
1,230.0
Liabilities and Equity
Accounts payable
$
250.0
$
200.0
Accruals
75.0…
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Solve for fy22 sales and depreciation a on the 2022 income statement. remember to reference the growth rate provided by Paul.of 0.141
FY21
FY22
Sales
$24884886
Blank
Cost of Goods Sold
$19659044
Other Expenses
$2735335
Depreciation
$995395
Blank
Taxable Income
$1493092
Taxes (21%)
$313549
Net Income
$1179543
Dividends
$500,000
Add. to Retained Earnings
$679543
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Statement of Profit and Loss and Other Comprehensive Income for the years
ended 31 December
2024
2023
R'000
R'000
Turnover
1287052 934052
Operating Profit
137342
81768
Net Finance Cost
39264
20862
Operating Profit before taxation
98078
60906
Income tax expense
7027
3048
Profit for the Year
91051
57858
3502
2237
Operating profit includes Depreciation
and loss on sale of fixed asset
5/12
Required:
a) Prepare the cash flows from operating activities for the company for 2024
using the available information
(10 Marks)
b) Perform a financial review of the company based on calculating the following
financial ratios and explain how it may be interpreted.
Debt equity ratio
Times interest earned
Current ratio
Debtors average collection period
Inventory turnover
Your answer should include an overall assessment of the company (25 Marks)
c) List the audit steps to verify the existence of inventory
(10 Marks)
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Q. No. 1.
From the following information of Albert Company as on 31t December 2018:
Noncurrent asset
$25,00,000
Working capital
Current ratio
Non-current assets tumover ratio
Gross profit
Trade receivable turnover ratio
Loss on sale of plant assets
Trade payable turnover ratio
Interest expenses
Income tax
Inventory turnover ratio
10,00,000
2:1
8 times
20% on sales
10 times
$10,000
15 times
S50,000
20%
10 times
10% of turn over
15% of the net income
1:1
S10,000
Net income
General Reserve
Capital gearing ratio
Depreciation expenses
Amortization on patent
Doubtful expenses
Derecognizing expenses
$8,000
$5,000
$15,000
Required:
A. Prepare a statement of Financial Performance for the year ended 31t December 2018
B. Prepare a Statement of Financial Position as of 31* December 2018.
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What amount should Dysabel report as Cost of Sales in its 2020 consolidated income statement?
a) 1,012,5000
b.) 918,000
c.) 675,000
d.) 580,500
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Refer to the following financial information of Scholz Company:
NOPAT
8.250.000.00
EBITDA
17,725.000.00
Net Income
5,050,000.00
Capital
Expenditures
6,820,000.00
After tax capital
costs
6,280.000.00
Tax rate
40%
1. Calculate the Company's depreciation and amortization expense
2. calculate its interest expense. Use 2 decimal places for your final answer.
3. calculate its EVA. Use 2 decimal places for your final answer.
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KM Manufacturing Company
The income statement for the year ended December 31, 2020, for KM Manufacturing Company contains the
following condensed information.
KM Manufacturing Company
Income Statement
For the Year Ended December 31, 2X20
Sales revenue
Cost of goods sold
Operating expenses (excluding depreciation)
Depreciation expense
Loss on disposal of plant assets
Income before income taxes
P6,583,000
P2,810,000
2,086,000
880,000
24,000
5,800,000
783,000
353,000
P430,000
Income tax expense
Net income
The P24,000 loss resulted from selling equipment for P270,000 cash. The equipment was purchased at a cost
of P750,000. The following balances are reported on KM's comparative balance sheets at December 31.
KM Manufacturing Company
Comparative Balance Sheets
2X20
2X19
Cash
Accounts receivable
Inventory
Accounts payable
P672,000
775,000
834,000
521,000
P130,000
610,000
867,000
501,000
Income tax expense of P353,000 represents the amount paid in 2020. Dividends declared and paid in 2020…
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Use the following selected 2016 balance sheet and income statement information for Home Garden Supply Co. (in millions) to compute asset turnover (AT) to the nearest hundredth of a percent.
Net income
Gross profit
on sales
Average
total assets
Sales
Tax rate on operating profit
$69,960
$700,400
$360,600
$1,356,504
35%
Question 24 options:
A)
3.76
B)
5.17
C)
0.27
D)
17.30
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KM Manufacturing Company
The income statement for the year ended December 31, 2020, for KM Manufacturing Company contains the
following condensed information.
KM Manufacturing Company
Income Statement
For the Year Ended December 31, 2X20
Sales revenue
Cost of goods sold
Operating expenses (excluding depreciation)
Depreciation expense
Loss on disposal of plant assets
Income before income taxes
P6,583,000
P2,810,000
2,086,000
880,000
5,800,000
783,000
353,000
P430,000
24,000
Income tax expense
Net income
The P24,000 loss resulted from selling equipment for P270,000 cash. The equipment was purchased at a cost
of P750,000. The following balances are reported on KM's comparative balance sheets at December 31.
KM Manufacturing Company
Comparative Balance Sheets
Cash
Accounts receivable
Inventory
| Accounts payable
2X20
P672,000
775,000
834,000
521,000
2X19
P130,000
610,000
867,000
501,000
Income tax expense of P353,000 represents the amount paid in 2020. Dividends declared and paid in 2020…
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Profit and loss data for Lota & Romy, Inc. for 2019 and 2020 follow:
2019
2020
Increase
P2,688,000
(Decrease)
P762,000
Sales
P3,450,000
Cost of Sales
1,920,000
2,760,000
840,000
Gross Profit
P768,000
P690,000
P(78,000)
REQUIRED:
1. Prepare a statement/summary analyzing the variation in gross profit giving as
much information as can be determined concerning factors responsible for the
change, under each of the following independent assumptions:
a. Total units sold in 2020 are 25% above units sold in 2019.
b. Selling prices in 2020 are 20% above the selling prices in 2019.
c. Cost prices in 2020 are 10% lower than the cost prices in 2019.
d. No data are available relative to prices and volume changes.
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Income Statement: The income statement of Fairoz store Inc. is given for the
years 2020 & 2019.
2020
2019
General and administrative expenses
21.600
24,000
Interest expense
1,500
1.500
Net sales
$136.400
$138,000
Selling Expense
11.660
12,720
$1,023.0
5,230
Income taxes
99.000
95.000
COGS
770
450
Gain on Sale of land
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KGOTSO CO
INCOME STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2021
P'000
P'000
Sales
720
Raw materials consumed
Staff costs
70
94
Depreciation
Loss on disposal of non-current asset
118
18
300
420
Operating profit
Interest payable
28
392
Profit before tax
Тахation
124
268
Profit for the year
KGOTSO CO
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER
2020
2021
P'000
P'000
Non-current assets
Cost
1,596
(318)
1.278
1,560
(224)
1.336
Depreciation
Current assets
Inventory
Trade receivables
24
76
20
58
Bank
48
148
1.426
56
134
1.470
Total assets
Equity and liabilities
Equity
Share capital
Share premium
Retained carnings
360
340
36
24
716
1,112
514
878
Non-current liabilities
Long-term loans
Current liabilities
200
500
Trade payables
Тахation
12
6.
102
114
1426
Total equity and liabilities
1470
Additional information:
i. Dividends paid were P66,000.
ii. During the year, the company paid P90,000 for a new piece of machinery.
Required:
Prepare the statement of cash flows for Kgotso Co for the year…
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Accounting-20201
1301 Fall 2020/2021 (Sections 1, 2, and 81)
Presented below is financial information related to Ibra Company
lincome from operations
90,000
Income taxes
30%
Loss on disposal of the component in the
7,000
sompany
10,000
if this information was used to prepare an income statement Net Income should be:
Select one
Oa 83 000
Ob.90000
73.000
Oia.49.000
Oe20 000
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Total Assets for Wendy's Pumpkins on 1 January 2020 was $650,000 and
on 31 December 2020 was $850,000.
Profit (before tax) for 2020 was $70,000, and the interest expense of the
period was $20,000.
What was the 2020 Rate of Return on Total Assets for Wendy's
Pumpkins?
formula: Rate of Return on Total Assets = Profit before Interest and Tax /
Average Total Assets
Select one:
а. 4%
O b. 9%
О с. 16%
O d. 12%
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Sa Min Gi Company reported the following data for the 2020:
Net sales
P9,500,000
Cost of goods sold
4,000,000
Distribution costs
1,000,000
Administrative expenses
Interest expense
1,200,000
700,000
Gain from sale of land
500,000
800,000
Income tax expense
Income from discontinued operations- net of tax
Unrealized gain on equity investment at FV through OCI- net of tax
Actuarial loss during the year fully recognized- net of tax
Foreign translation adjustment- debit net of tax
Revaluation surplus during the year-net of tax
600,000
1,300,000
300,000
100,000
2,500,000
How much is the total comprehensive income for the 2020?
C. P6,300,000
A. P2,900,000
B. P3,800,000
D. P6,500,000
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Problem:
Remesh Corporation prepared the following income statement and statement of retained earnings for the year ended December 31, 2021.
Remesh Corporation
December 31, 2021
Expense and Profit Statement
Dollars in thousands
Sales (net)
$206,000
Less: Selling Expenses
(20,600)
Net Sales
$185,400
Add: Interest Revenue
2,400
Add: Gain on sale of equipment
3,600
Gross Sales Revenue
$191,400
Less: Cost of operations:
Cost of Goods Sold
$126,100
Correction of overstatement in last years income because of error $5,500 (net of tax credit)
$3850
Dividend cost ($0.50 per share for 8k common shares)
$4000
Unusual loss due to a hurricane, $6,400 (net of tax credit)
$1,920
($135,870)
Taxable Revenues
$55,530
Less: Income tax on income from continuing operations
$16,659
Net income
$38871
Miscellaneous Deductions
Loss from operations of…
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The following financial information was provided by Anya Company:
Net Income
8,255,000.00
NOPAT
75,785,000.00
EBITDA
143,000,000.00
Net Profit Margin
6.00%
Operating capital
425,070,000.00
After tax cost of capital
12.00%
Tax rate
35.00%
16. Assuming the Company has no amortization expense, how much is its depreciation expense? Use 2 decimal places in your final answer
17. Refer to Anya Company, calculate its Interest Expense. Use 2 decimal places in your final answer
18. Refer to Anya Company, calculate its sales. Use 2 decimal places in your final answer
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BHP Group Ltd.- 2019 and 2020 Partial Balance Sheet Assets Liabilities & Owner’s Equity 2019 2020 2019 2020 Current assets $4665 $7279 Current liabilities $2076 $4256 Net Fixed assets $7033 $11378 Long-term debt $3712 $1980 Total Equity (Total assets – total liabilities) (Total assets – total liabilities) BHP Group Ltd.- 2020 Income Statement Sales $10073 Cost of goods sold $5815 Depreciation $2227 Interest paid $1284 Taxes $1202 Calculate the Profit margin ratio of BHP Group Ltd. for the financial year 2020
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Computron's Income Statement
2019
2020
INCOME STATEMENT
Net sales
$ 2,059,200
$ 3,500,640
Cost of Goods Sold (Except depr. and amort.)
$ 1,718,400
$ 2,988,000
Other Expenses
$ 204,000
$ 432,000
Depreciation and amortization
$ 11,340
$ 70,176
Total Operating Costs
$ 1,933,740
$ 3,490,176
Earnings before interest and taxes (EBIT)
$ 125,460
$ 10,464
Less interest
$ 37,500
$ 105,600
Pre-tax earnings
$ 87,960
$ (95,136)
Taxes (40%)
$ 35,184
$ (38,054)
Net Income
$ 52,776
$ (57,082)…
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ACE Limited has the following results for the 15 months to 31 December 2021:
£
Adjusted trading profit, before deduction of capital allowances 1,500,000
Capital allowances claimed:
Year to 30 September 2021 312,650
3 months to 31 Dec 2021 40,210
Capital gains/loss
Disposal 12 May 2021 (Gain) 15,586
Disposal 6 October 2021 (loss) (12,692)
Building society interest:
Received 31 December 2020 3,500
Received 31 December 2021 4,000
UK dividend received on 25 November 2021 10,000
Accrued building society interest was £2,000 on 30 September 2020, £4,000 on 30 September 2021 and £2,000 on 31 December 2021.
Required:
Compute the company’s total corporation tax liability for the 15-month period.
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18
eppertree Company’s financial statements on December 31, 2021, showed the following:
Net Sales
$ 550,000
Fixed Assets, January 1
$ 146,000
Fixed Assets, December 31
$ 134,000
Total Assets, January 1
$ 194,000
Total Assets, December 31
$ 200,000
What is the fixed asset turnover for 2021?
Multiple Choice
3.93
2.60
4.10
2.79
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Dela Rosa Company Company
The income statement for the year ended December 31, 2020, for Dela Rosa Company Comnany contains the
following condensed information.
Dela Rosa Company Company
Income Statement
For the Year Ended December 31, 2X20
Sales revenue
Cost of goods sold
Operating expenses (excluding depreciation)
Depreciation expense
Loss on disposal of plant assets
Income before income taxes
Income tax expense
Net income
P6,583,000
P2,810,000
2,086,000
880,000
24.000
5,800.000
783,000
353,000
P430,000
The P24,000 loss resulted from selling equipment for P270,000 cash. The equipment was purchased at a cost
of P750,000. The following balances are reported on Dela Rosa's comparative balance sheets at December
31,
Dela Rosa Company Company
Comparative Balance Sheets
Cash
Accounts receivable
Inventory
Accounts payable
2X20
P672,000
775,000
834,000
521,000
2X19
P130,000
610,000
867,000
501,000
Income tax expense of P353,000 represents the amount paid in 2020. Dividends declared and paid…
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1. Refer to the following financial information of Scholz Company:
NOPAT
8,250,000.00
EBITDA
17,725,000.00
Net Income
5,050,000.00
Capital Expenditures
6,820,000.00
After tax capital costs
6,280,000.00
Tax rate
40%
Calculate the Company’s depreciation and amortization expense
2. Refer to Scholz Company, calculate its interest expense. Use 2 decimal places for your final answer.
3. Refer to Scholz Company, calculate its EVA. Use 2 decimal places for your final answer.
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