A straightforward technique for constructing a pro forma income statement is the percent-of-sales method. This method...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
A straightforward technique for constructing a pro forma income statement is the percent-of-sales method. This method involves predicting sales and subsequently representing different income statement elements as -. The percentages employed are typically based on the proportions of sales for those items in the preceding year. O a. percentages of the projected sales O b. percentages of the projected expense O c. percentages of the projected cost of good sold O d. percentages of the projected equity A straightforward technique for constructing a pro forma income statement is the percent-of-sales method. This method involves predicting sales and subsequently representing different income statement elements as -. The percentages employed are typically based on the proportions of sales for those items in the preceding year. O a. percentages of the projected sales O b. percentages of the projected expense O c. percentages of the projected cost of good sold O d. percentages of the projected equity
Expert Answer:
Answer rating: 100% (QA)
The question asks for a term used in constructing a pro forma income st... View the full answer
Related Book For
Managerial Accounting Tools for Business Decision Making
ISBN: 978-1118856994
4th Canadian edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly
Posted Date:
Students also viewed these general management questions
-
The company that you work for as a managerial accountant uses independent agents to sell its products. These agents are currently being paid a commission of 15% of the sales price but are asking for...
-
The company that you work for as a managerial accountant uses independent agents to sell its products. These agents are currently being paid a commission of 15% of the sales price but are asking for...
-
Identify each process as endothermic or exothermic and indicate the sign of H. (a) Sweat evaporating from skin (b) Water freezing in a freezer (c) Wood burning in a fire
-
Lanza Company, SA had the following adjusted trial balance. LANZA COMPANY, SA Adjusted Trial Balance For the Month Ended June 30, 2017 Instructions (a) Prepare closing entries at June 30, 2017. (b)...
-
On March 10, 2019, Dearden, Inc., purchased 15,000 shares of Jaffa stock for $35 per share. Management intends to hold the securities long term. Dearden?s year ends on December 31. The following...
-
Explain the idea behind meansends analysis. Compare it with search as a planning method. Which more closely matches the methods people use when formulating plans in everyday life?
-
Hindi Company has the following production data for April: units transferred out 40,000, and ending work in process 5,000 units that are 100% complete for materials and 40% complete for conversion...
-
Drip Sips has a machine for making their beverages the original cost of the old machine |book value of the old machine operating costs of the old machine |per year 188,000 remaining useful life 14...
-
TurboX is a online video game company that makes three types of video games: action, role play, and sports. It is interested in understanding its millennial customers. By combining the data from its...
-
You have $100,000 to invest in a portfolio containing Stock ABC and Stock DEF. Your goal is to create a portfolio that has an expected return of 10.4125 percent. If Stock ABC has an expected return...
-
4- Find the missing numbers "letters A, B, C, D, E, F, G and I". a-16N (a, 1p) Bo b-H(1H, CH){H c-EC (C, a) 10Ne d-H(H, n) He
-
2. The figure below shows a barge floating in water and is loaded with gravel. If the barge's centre of gravity is at G; (a) Determine whether the barge will restore itself when the wave causes it to...
-
1.8. The state of a spin-particle is given by i =1/31+2)+ + 1-2) (1) What are (S) and AS, for this state? Suppose that an experiment is carried out on 100 particles, each of which is in this state....
-
The Moon orbits the Earth is a roughly circular orbit. To calculate the force the Earth exerts on the Moon, you need to know the direction of the separation unit vector (7) and the gravitational...
-
2p 1e A position-dependent force (x, y) = axy (with a a constant) acts on an object with mass m. The object is released from rest at position (xo, y1) (with y a nonzero constant). When the object is...
-
1. In lectures and in the labs, we discussed the Wald and Wilson methods for estimat- ing the binomial parameter. Coverage probabilities are often used to determine the effectiveness of confidence...
-
Ask students to outline the reasons why the various elements of culture (social structures and control systems, language and aesthetics, religion and other belief systems, educational systems, etc.)...
-
Data for the investment centres for Stahl Company are given in BE11-9. The centres expect the following changes in the next year: Centre I a 15% increase in sales; Centre II a $200,000 decrease in...
-
An incomplete cost of goods manufactured schedule is presented below for Cepeda the year ended December 2016: Instructions Complete the cost of goods manufactured schedule for Cepeda Manufacturing...
-
For Biswell Company, variable costs are 70% of sales and fixed costs are $195,000. Calculate the required sales in dollars that are needed to achieve management's target operating income of $75,000....
-
(a) Derive a general expression for the response of a uniform beam subjected to an arbitrary force. (b) Use the result of part (a) to find the response of a uniform simply supported beam under the...
-
Derive Eqs. (E.7) and (E.8) of Example 8.10. Data From Example 8.10:- Equation E.7 and E.8:- Determine the effects of rotary inertia and shear deformation on the natural frequencies of a simply...
-
Derive Eqs. (E.5) and (E.6) of Example 8.10. Data From Example 8.10:- Equation E.5 and E.6:- Determine the effects of rotary inertia and shear deformation on the natural frequencies of a simply...
Study smarter with the SolutionInn App