What is the entry for the current year's taxes on a common-sized income statement? Submit Answer...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
What is the entry for the current year's taxes on a common-sized income statement? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924)) Category Prior Year Current Year ??? ??? 320,715 397,400 40,500 33,750 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 428,469.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 54,982.00 Interest expense 40,500 42,662.00 Inventories 279,000 288,000 Long-term debt 335,823.00 398,890.00 Net fixed assets 946,535 999,000 Notes payable 148,500 Operating expenses (excl. depr.) 126,000 Retained earnings 306,000 Sales 639,000 849,083.00 Taxes 24,750 47,153.00 Accounts payable Accounts receivable Accruals Additional paid in capital 162,000 162,849.00 342,000 Att #2 O Category. Accounts payable Accounts receivable Prior Year Current Year ??? ??? 320,715 397,400 40,500 33,750 500,000 541,650 17,500 47,500 94,000 105,000 328,500 429,913.00 33,750 35,000 54,000 55,482.00 40,500 41,623.00 Inventories 279,000 288,000 Long-term debt 335,191.00 399,774.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 161,365.00 Retained earnings 306,000 342,000 Sales 639,000 849,045.00 Taxes 24,750 48,925.00 Accruals Additional paid in capital Cash Common Stock COGS Current portion long-term debt Depreciation expense Interest expense What is the current year's accounts payable balance? Submit Answer format: Number: Round to: 0 decimal places. unanswere not submitte Attempts Remaining Infinit #3 Category. Prior Year Current Year Accounts payable ??? Accounts receivable 397,400 Accruals 33,750 Additional paid in capital 541,650 Cash 47,500 Common Stock 105,000 COGS 428,469.00 Current portion long-term debt 35,000 Depreciation expense 54,982.00 Interest expense 42,662.00 Inventories 288,000 Long-term debt 335,823.00 398,890.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 162,849.00 Retained earnings 306,000 342,000 Sales 639,000 849,083.00 Taxes 24,750 47,153.00 ??? 320,715 40,500 500,000 17,500 94,000 328,500 33,750 54,000 40,500 000 What is the current year's return on assets (ROA)? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924)) unanswere not_submitte Attempts Remainin Infin #4 Category Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 428,469.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 54,982.00 Interest expense 40,500 42,662.00 Inventories 279,000 288,000 Long-term debt 335,823.00 398,890.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 162,849.00 Retained earnings 306,000 342,000 Sales 639,000 849,083.00 Taxes 24,750 47,153.00 What is the current year's return on equity (ROE)? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924)) unanswer not submit Attempts Remaini Infir #5 Category Prior Year Current Year Accounts payable ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 431,263.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 55,419.00 Interest expense 40,500 42,969.00 Inventories 279,000 288,000 Long-term debt 339,644.00 398,125.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 161,867.00 Retained earnings 306,000 342,000 Sales 639,000 849,467.00 Taxes 24,750 48,241.00 ??? What is the current year's entry for long-term debt on a common-sized balance sheet? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924)) unanswer not submit Attempts Remaini Infin What is the entry for the current year's taxes on a common-sized income statement? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924)) Category Prior Year Current Year ??? ??? 320,715 397,400 40,500 33,750 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 428,469.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 54,982.00 Interest expense 40,500 42,662.00 Inventories 279,000 288,000 Long-term debt 335,823.00 398,890.00 Net fixed assets 946,535 999,000 Notes payable 148,500 Operating expenses (excl. depr.) 126,000 Retained earnings 306,000 Sales 639,000 849,083.00 Taxes 24,750 47,153.00 Accounts payable Accounts receivable Accruals Additional paid in capital 162,000 162,849.00 342,000 Att #2 O Category. Accounts payable Accounts receivable Prior Year Current Year ??? ??? 320,715 397,400 40,500 33,750 500,000 541,650 17,500 47,500 94,000 105,000 328,500 429,913.00 33,750 35,000 54,000 55,482.00 40,500 41,623.00 Inventories 279,000 288,000 Long-term debt 335,191.00 399,774.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 161,365.00 Retained earnings 306,000 342,000 Sales 639,000 849,045.00 Taxes 24,750 48,925.00 Accruals Additional paid in capital Cash Common Stock COGS Current portion long-term debt Depreciation expense Interest expense What is the current year's accounts payable balance? Submit Answer format: Number: Round to: 0 decimal places. unanswere not submitte Attempts Remaining Infinit #3 Category. Prior Year Current Year Accounts payable ??? Accounts receivable 397,400 Accruals 33,750 Additional paid in capital 541,650 Cash 47,500 Common Stock 105,000 COGS 428,469.00 Current portion long-term debt 35,000 Depreciation expense 54,982.00 Interest expense 42,662.00 Inventories 288,000 Long-term debt 335,823.00 398,890.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 162,849.00 Retained earnings 306,000 342,000 Sales 639,000 849,083.00 Taxes 24,750 47,153.00 ??? 320,715 40,500 500,000 17,500 94,000 328,500 33,750 54,000 40,500 000 What is the current year's return on assets (ROA)? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924)) unanswere not_submitte Attempts Remainin Infin #4 Category Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 428,469.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 54,982.00 Interest expense 40,500 42,662.00 Inventories 279,000 288,000 Long-term debt 335,823.00 398,890.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 162,849.00 Retained earnings 306,000 342,000 Sales 639,000 849,083.00 Taxes 24,750 47,153.00 What is the current year's return on equity (ROE)? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924)) unanswer not submit Attempts Remaini Infir #5 Category Prior Year Current Year Accounts payable ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 431,263.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 55,419.00 Interest expense 40,500 42,969.00 Inventories 279,000 288,000 Long-term debt 339,644.00 398,125.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 161,867.00 Retained earnings 306,000 342,000 Sales 639,000 849,467.00 Taxes 24,750 48,241.00 ??? What is the current year's entry for long-term debt on a common-sized balance sheet? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924)) unanswer not submit Attempts Remaini Infin
Expert Answer:
Answer rating: 100% (QA)
Answers 1 Entry for current years taxes on a commonsized income statement There is no specific entry ... View the full answer
Related Book For
Posted Date:
Students also viewed these finance questions
-
What is the entry for an employee's personal phone calls included in the company's bill?
-
What is the entry when merchandise has been received but not the vendor's invoice?
-
What is the entry for the down payment from a signed contract?
-
Which of the following procedures most likely represents an internal control designed to reduce the risk of errors in the billing process? 1. Requiring customers that purchase on account to be...
-
1. Given the ideas presented about Apples strategy, what HR actions would be most suitable for supporting that strategy? 2. What challenges would you expect to be most significant for Apples HR staff...
-
You have invested $10,000 dollars for your grandchildren at an interest rate of 8.7%. Using the Simple Interest formula, (assuming you do not take any money out of the account ) about how much will...
-
What makes a question bad? Develop three examples of bad questions. Rewrite your examples so they could be judged as good questions.
-
At December 31, 2018, Landy Products has cash of $24,000, receivables of $18,000, and inventory of $80,000. The companys equipment totals $182,000. Landy owes accounts payable of $22,000 and...
-
Figure 1d) Image transcription text 10 4 x )8.500 THRU All grooves are 8.5mm wide J (14.5005 10.000 unless otherwise indicated. 17.000 17.000 TOP VIEW 17.000 All 8.5mm grooves are 11mm deep. SCALE 1...
-
I need help on this read from bottom to top. Image transcription text 7"} The second ?nancial statement to prepare is the statement of retained earnings. To determine the ending balance of...
-
Melissa owns 100% of the stock in Fitness Corporation (Fitness), a calendar year corporation. Melissa has an adjusted basis of $25,000 in her stock at the beginning of the current year (2016)....
-
Who are the main actors in an entrepreneurial ecosystem?
-
What is the difference between discounting and factoring?
-
How do social impact venture investors differ from purely financially motivated venture investors?
-
How can one infer the true cost of trade credit?
-
What is the difference between enterprise and equity value?
-
Q2 (Essential to cover) Suppose the following bonds are trading in the market. Bond Time-to-Maturity Face value Coupon rate E 1 $ 100 0% F 2 $ 100 2% G 4 $ 100 0% Price $ 94.79 $ 92.25 $ 74.88 In...
-
A crop-dusting plane flies over a level field at a height of 25 ft. If the dust leaves the plane through a 30 angle and hits the ground after the plane travels 75 ft, how wide a strip is dusted? See...
-
Define the generalized function p(x) = 5(a) - 3 (x - 1) (a) As a limit of ordinary functions; (b) By using duality.
-
Write out the details of the proof of the "if" part of Theorem 1.7: if A is nonsingular, then the linear system Ax = b has a unique solution for every b. Theorem 1.7 A linear system Ax = b has a...
-
Prove that if c 0 is any nonzero scalar and A is an invertible matrix, then the scalar product matrix c A is invertible, and (CA)-= -A-1
-
What are the four main consumer rights?
-
What is the role of the Securities and Exchange Commission?
-
In what ways do companies demonstrate their social responsibility?
Study smarter with the SolutionInn App