Complete the following horizontal analysis of a comparative income statement? Alonzo's Auto Parts Comparative Income Statement For
Question:
Transcribed Image Text:
Alonzo's Auto Parts Comparative Income Statement For years ending June 30, 2013 and 2014 2014 Increase (decrease) Amount 2013 Percent Revenue: Gross sales Sales returns and allowances Net sales Cost of goods sold: Beginning inventory, July 1 Purchases Ending inventory, June 30 Cost of goods sold Gross profit from sales Operating expenses: Salary Insurance Utilities Rent Depreciation Total operating expenses Net income $291,707 $275,873 5,895 6,821 35,892 157,213 32.516 32.587 146,999 30,013 42,000 3,800 1,986 3,600 4,000 40,000 3.800 2,097 3,300 4,500
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 46% (15 reviews)
Net sales for 2014 291707 5895 285812 Cost of goods sold for 2014 35892 157213 32516 160589 Gross pr...View the full answer
Answered By
Rohith Bellamkonda
I am studying in IIT Indore,the most prestigious institute of India.I love solving maths and enjoy coding
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Business Math
ISBN: 978-0133011203
10th edition
Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble
Question Posted:
Students also viewed these Finance questions
-
Complete the following horizontal analyses of Dragonfly Corporations income statement. What was the largest percentage increase in expenses? What was the largest percentage decrease in expenses? What...
-
Complete the following horizontal analyses of Dragonfly Corporation's income statement. What was the largest percentage increase in expenses? What was the largest percentage decrease in expenses?...
-
Compare the formula is step 3 of the How To box: Prepare a horizontal Analysis of a Comparative Income Statement (p. 756) with the formula you would use to find the percent of sales tax if you know...
-
Discuss the various ways project change can be managed. In your discussion, be sure to include real world examples if you have experienced them those experiences may help your project
-
What is a millage rate? How is it determined?
-
Carolina Trucking Company (CTC) is evaluating a potential lease for a truck with a 4-year life that costs $40,000 and falls into the MACRS 3-year class. If the firm borrows and buys the truck, the...
-
An infinitely long, solid, vertical cylinder of radius \(R\) is located in an infinite mass of an incompressible fluid. Start with the Navier-Stokes equation in the \(\theta\) direction and derive an...
-
Casebolt Company wrote off the following accounts receivable as uncollectible for the first year of its operations ending December 31, 2014: Customer Amount Shawn Brooke.......$ 4,650 Eve Denton...
-
Using the "alternative" flexibility equation for design of expansion loops, calculate the depth of a loop for a steel pipeline installed between two fixed anchors for a 10" pipe (OD: 273.1 mm, wall...
-
Procter & Gamble has been the leading soap manufacturer in the United States since 1879, when it introduced Ivory soap. However, late in 1991, its major rival, Lever Bros. (Unilever), overtook it by...
-
Complete the following income statement and vertical analysis? Marten's Family Store Income Statement For Year Ending December 31, 2013 Percent of net sales Revenue: Gross sales Sales returns and...
-
Complete the following balance sheet for Rooter Green Construction Company. Rooter Green Construction Company Balance Sheet June 30, 2014 Assets Current assets Cash Supplies Accounts receivable Total...
-
Starting with D X and S X and P X = $4.50 with free trade in Figure 9.1, analyze the partial equilibrium effects of a negotiated export quota of 30X. Figure 9.1 Px ($) 5 4 3 2.5 2 1 0 G G 10 M E I...
-
The company Amazon acquired raw materials whose cash value is $586,250.90 on credit, with a down payment of 30% on the cash price, and the balance through advance monthly payments of $15,250.00 and a...
-
Case Study Reflective: this makes scents PURPOSE: The purpose of this reflection is to think about the information provided in the case study and how you will integrate your learnings in the working...
-
How much Alberta must deposit to accumulate $250,000 within 4 years at an interest rate of 8%: a) Capitalized monthly b) Capitalized quarterly
-
Tamar Company manufactures a single product in two departments: Forming and Assembly. Information for the Forming process for May follows. Direct Materials Conversion Units Percent Complete Percent...
-
Sue's goal is to have $10,000 in her savings account seven years from now. How much must she set aside at the end of each year at 4.5% compounded annually to meet this goal?
-
Evaluate the given functions. Values of the independent variable are approximate. g(x) = 7x x 2 ; find g(45.81) and g(21.85).
-
Apply Jacobis method to the given system. Take the zero vector as the initial approximation and work with four-significant-digit accuracy until two successive iterates agree within 0.001 in each...
-
On April 1, 2015, Faircloud Variety Company deposited $24 000 into a savings account earning simple interest of 1.5%. Interest is paid to the account at the end of every calendar quarter. How much...
-
On July 17, 2016, Leah deposited $1500 into a savings account that earned simple interest of 1.05%. How much interest was earned and paid into Leahs account on December 1, 2016?
-
Along with licensing, the purchase of auto insurance for vehicles is required in Canada. Benefits of auto insurance are as follows: Safeguards the investment in the automobile. Pays for medical...
-
What are the vulnerabilities of embedded operating systems, such as, but not limited to, IoT devices, programmable logic devices, and vehicle control systems.
-
Factor the polynomial completely. 7x-17x-12
-
What are some relevant recommendations about Coca-Cola's Planning, Design, and Implementation of an Enterprise Resource Planning System that other companies can apply to their own initiatives?
Study smarter with the SolutionInn App