Supplies 4,500 Instructions Prepare an income statement and a retained earnings statement for Grove Company. Sales Revenue 36,500 Cost of Goods Sold 13,000 Gross Margin 23,500 Operating Expenses Salaries Expense 5,200 Depreciation Expense 4,800 Interest Expense 2,500 Total Operating Expense 12,500 Net Income 11,000 Retained Earnings Jan 1 16,000 Add: Net Income 11,000 Less: Dividends 5,300 Retained Earnings Dec 31 21,... Sales Revenue 36
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and maintenance, administration, and sales, sales promotions, corporate services. 2. Units: dollars per hour January February March Power expense 4.7 4.7 4.7 personnel salaries expense 24 24 24 Total Variable cost per revenue hour 28.7 28.7 28.7 3. Income statement for Salem Data Services From the article, I know that intracompany work was billed at $400 per hour, and commercial sales were billed at $800 per hour. So, intracompany contribution margin: $400-$28.7= $371.3/hr Commercial contribution margin:
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1. [45 points] What was the impact of the restatement on the financial statements? Your company’s 10-K/A should provide a reconciliation or tabular presentation of the original and restated financial statement amounts. a. Prepare vertical income statement(s) and balance sheet(s) for the years and amounts presented in the originally filed 10-K and for years and amounts presented in the 10-K/A i.e., for all years affected by the restatement. What key accounts did the restatement affect? Use
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Accounts (All Income Statement Accounts as well as the Dividend Account) are closed. Therefore if the Revenue account is not closed, the company’s net income will be overstated for the next accounting period which would give an incorrect picture of the company’s operations in the period under examination. 2. Expense accounts are not closed? Explain why. The same logic applies as in number 1 above; only in this case expenses for the next accounting period would be overstated and net income would be
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Guillermo Analysis Paper FIN 571 June 11, 2012 Mr. John Kushner Guillermo Furniture Store Analysis Guillermo has a manufacturing company is Mexico. Guillermo has an excellent location for his business because of the supply of timber for his furniture. Inexpensive labor and slight raise in the price of the furniture had Guillermo making a good profit. The business was going well for Guillermo until a new competitor entered the furniture market. The rise in population
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Fundamentals of macroeconomics ECO/372 June 7, 2012 Osvaldo Miranda Fundamentals of macroeconomics Part 1 Describe the following terms in your word. GROSS DOMESTIC PRODUCT (GDP) Gross Domestic Product is the monetary value of all the sales of goods and services produced within a country's borders that usually is calculated by years on a specific time period. This monetary value of sales and services includes public, private consumption, investments, government outlays, and exports
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500) | (15,000) | |Trade accounts payable | (25,000) | (15,500) | |Income taxes payable | (21,000) | (29,100) | |Deferred income taxes | (5,300) | (4,600) | |8% callable bonds payable |(45,000)
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First, this report will compare between nominal and real change in the expenditure. This research will analyze the changes of major departments and examine why the changes appear. Lastly, this report will investigate how those changes affect citizens’ life in Kansas City. By contrast, Aviation Department Expenditure decreased from $179.1 million to $146.8 million, an amount that represents $32.2 million decrease as well as an 18.02% decrease. Public Works Department Expenditure decreased from
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Michael Santiago IBM Corporation Question 1: Decompose IBM’s ROE and discuss the factors (and trends) that contribute to Big Blue’s profitability. IBM Corp. | Dec-1996 | Dec-1997 | Dec-1998 | Dec-1999 | Net Income | $2,023.00 | $2,093.00 | $2,346.00 | $2,089.00 | Shareholder's Equity | $21,628.00 | $19,816.00 | $19,433.00 | $20,511.00 | ROE RATIO | 9.35% | 10.56% | 12.07% | 10.18% | Factors and trends that made a significant contribution to Big Blue’s profitability can include
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