Complete the following horizontal analysis of a comparative income statement. Express percents to the nearest tenth of
Question:
Transcribed Image Text:
Alonzo's Auto Parts Comparative Income Statement For years ending June 30, 2013 and 2014 Increase (decrease) Amount 2014 2013 Percent Kevenue: Gross sales Sales returns and allowances Net sales Cost of goods sold: Beginning inventory, July l 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: 55% (9 reviews)
Net sales for 2014 239873 12815 227058 Cost of goods sold for 2014 27814 123213 24482 126545 Gross p...View the full answer
Answered By
OTIENO OBADO
I have a vast experience in teaching, mentoring and tutoring. I handle student concerns diligently and my academic background is undeniably aesthetic
4.30+
3+ 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...
-
You kick a soccer ball, compressing it suddenly to 2/3 of its original volume. In the process, you do 410 J of work on the air (assumed to be an ideal gas) inside the ball. (a) What is the change in...
-
State whether the following sentences are true or false regarding proprietary- type funds and the accounting measurements made within them. If the sentence is false, state why. 1. Enterprise Funds...
-
Assume Ganado enters into a swap agreement to receive euros and pay Japanese yen, on a notional principal of 5,000,000. The spot exchange rate at the time of the swap is 104/. (When you answer the...
-
A vertical shaft passes through a bearing and is lubricated with an oil having a viscosity of \(0.2 \mathrm{~N} \cdot \mathrm{s} / \mathrm{m}^{2}\) as shown in Fig. P6.85. Assume that the flow...
-
The following income statement was prepared for Frame Supplies for the year 2016: FRAME SUPPLIES Income Statement For the Year Ended December 31, 2016 Sales ............ $ 250,000 Cost of goods sold...
-
1. Referring to the diagram, if the velocity of B is constant at 1.5 m/s upward, determine the angular velocity of the rod AB in rad/s. (use three decimal places)2. Find the velocity of point A along...
-
Consider the following fragment of assembly language that is to be executed on a generic three way superscalar processor that can accommodate one memory access per clock. Rewrite the code to improve...
-
Complete the following income statement and vertical analysis. Express percents to the nearest tenth of a percent? Serpa's Gifts Income Statement For Year Ending December 31, 2012 Percent of net...
-
Prepare a balance sheet for Miss Muffins' Bakery for December 31, 2014. The company assets are: cash, $1,985; accounts receivable, $4,219; merchandise inventory, $2,512. The liabilities are: accounts...
-
A train is traveling up a 2.88 incline at a speed of 4.31 m/s when the last car breaks free and begins to coast without friction. (a) How much time does it take for the last car to come to rest...
-
Internet addiction is a significant issue for today's youth, how many times have you told your child to put away the device, only to be ignored? In this brief but informative video, the consequences...
-
Discuss presentism vs absenteeism What can a business do to reduce absenteeism and are the measures ethical?
-
Salinity The Puffer fish at the zoo requires the 405 gallon tank to be 4% salt. After a period of time, some water evaporated, raising the salinity to 9%. How many gallons of water must be resupplied...
-
Cost Behavior Alisha Incorporated manufactures medical stents for use in heart bypass surgery. Based on past experience, Alisha has found that its total maintenance costs can be represented by the...
-
Provide 3 benefits to Job enlargement and rotation also provide 2 disadvantages for both.
-
Evaluate the given functions. Values of the independent variable are approximate. f(x) = 8.07 2x; find f(5.87) and f(4.29).
-
You are standing at x = 9.0 km and your assistant is standing at x = 3.0 km. Lightning bolt 1 strikes at x = 0 km and lightning bolt 2 strikes at x = 12.0 km. You see the flash from bolt 2 at t = 10...
-
In how many months will $1290 earn $100.51 interest at 8 12%?
-
Interest of $20.95 is earned at 3.15% on a deposit of $2660 in how many months?
-
Determine the number of days it will take $564 to earn $15.09 at 7 34%
-
According to the Hawail Wildlife Fund, North Pacific Humpback Whales migrate from the icy waters around Alaska during the fall to spend the winter in Hawaii where they mate, give birth, and nurture...
-
Find the limit 4 lim (x -2x32x + x 1) =? 2+1 -
-
Train-the-trainer manual for the training and development department within your organization or for one with which you are familiar. Your trainers will soon be responsible to train the staff about...
Study smarter with the SolutionInn App