Revenues FedEx CORPORATION Income Statement Service Revenue (in millions) Interest Revenue Total Revenues Expenses Depreciation Expense...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Revenues FedEx CORPORATION Income Statement Service Revenue (in millions) Interest Revenue Total Revenues Expenses Depreciation Expense 5 Income Tax Expense E Interest Expense Office Expense 58 Rent Expense 59 Repairs and Maintenance Expense 60 63 Salaries and Wages Expense Transportation Expense 62 63 Total Expenses 64 Net Income 66 3-b. Prepare a statement of retained earnings for the year ended May 31, 2019. 67 (Use a cell reference to link this Enancial statement to the relevant cell in the preceding financial statement.) 60 (Enter your answers in millions, not in whole dollars.) (Negative amounts or amounts to be deducted should be input and displayed as negative values.) RIC X A C 120 29 Income Tax Expense 20 Income Tax Payable 3,300 21 Interest Expense 22 Interest Receivable 23 Interest Revenue 24 Notes Payable (long-term) 590 200 60 27,600 25 Notes Payable (short-term) 1,000 25 Office Expenses 13,760 27 Prepaid Rent 900 2 Rent Expense 3,300 29 Repairs and Maintenance Expense 2,800 30 Retained Earnings 14,770 31 Salaries and Wages Expense 24,800 32 Salaries and Wages Payable 1,740 33 Service Revenue 69,700 34 Supplies 35 Transportation Expense 36. 500 20,550 $153,430 $153,430 D 37 3 Required: 393-a. Prepare an income statement for the year ended May 31, 2019. 42 (Use a cell reference to link this financial statement to the relevant cell in the preceding financial statement.) 41 (Enter your answers in millions, not in whole dollars.) 42 (All answers should be input and displayed as positive values.) > 5 Intro expected value and variance - STAT 1430, section All, Spring... ezto.mheducation.com M Question 3 - Chapter 4 Excel Assignment Homework 5 - Connect This question has been opened in a new tab. In order to continue your assignment, please save your Excel question. 3 [The following information applies to the questions displayed below.] FedEx Corporation reported its balance sheet at May 31, 2019. Assume the following alphabetically listed accounts were included in its trial balance immediately prior to preparing the financial statements. FedEx CORPORATION Adjusted Trial Balance Part 3 of 3 10 points eBook References Accounts Payable Accounts Receivable Cash Accumulated Depreciation Depreciation Expense Common Stock Dividends Equipment Goodwill Income Tax Expense Income Tax Payable Interest Expense Interest Receivable Interest Revenue At May 31, 2019 (millions of dollars) Debit Credit $ 2,960 $ 9,200 29,100 2,300 3,200 3,300 710 59,500 10,900 120 3,300 590 200 60 Notes Payable (long-term) Notes Payable (short-term) 27,600 1,000 Office Expenses 13,760 Prepaid Rent 900 Rent Expense 3,300 Repairs and Maintenance Expense 2,800 Retained Earnings 14,770 Salaries and Wages Expense 24,800 Salaries and Wages Payable Service Revenue 1,740 69,700 Supplies 500 Transportation Expense 20,550 $153,430 $153,430 < 1. Use the Open Excel in New Tab button to launch this question. 2. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect. # $ 1 2 3 4 de5 % 96 MacBook Pro Q W E R T Y 28 & 7 8*> + 9 0 0 P A S D F G H J K L M Integra Z 0 1430 Chp 5 Intro expected value and variance - STAT 1430, section All, Spring... McGraw Hill Excel Question - Saved ezto.mheducation.com M Question 3- Chapter 4 Excel Assignment Homework 5 - Connect Search for tools, help, and more (Option + Q) File Home Insert Share Formulas Data Review View Help Draw V Calibri (Body) 11 V BA *** 11R x 1C Xv fx A B C D Number $ +000 .00 00.0 | E F G H 1 3 4 5 6 2 FedEx Corporation reported its balance sheet at May 31, 2019. Assume the following alphabetically listed accounts were included in its trial balance immediately prior to preparing the financial statements. FedEx CORPORATION Adjusted Trial Balance 7 At May 31, 2019 8 (millions of dollars) 9 Debit Credit 10 Accounts Payable $2,960 11 Accounts Receivable $9,200 12 Accumulated Depreciation 29,100 13 Cash 2,300 14 Common Stock 3,200 15 Depreciation Expense 3,300 16 Dividends 710 17 Equipment 59,500 18 Goodwill 10,900 19 Income Tax Expense 120 20 Income Tax Payable 3,300 21 Interest Expense 22 Interest Receivable 590 200 23 Interest Revenue 24 Notes Payable (long-term) 25 Notes Payable (short-term) 26 Office Expenses 27 Prepaid Rent 78 > 13,760 900 Rent Fynence =Grading Worksheet + Workbook Statistics 3.300 esc 1 @ 2 #3 60 27,600 1,000 $ $ 4 % do 5 Bc + MacBook Pro 96 Q W E R T Y tab A lock S D LL & 29 7 He 8 * 9 C 0 G H J K 1430 Chp 5 Intro expected value and variance - STAT 1430, section All, Spring... McGraw Hill Excel Question - Saved ezto.mheducation.com M Question 3 - Chapter 4 Excel Assignment Homework 5 - Connect Search for tools, help, and more (Option + Q) File Home Share Insert Formulas Data Review View Help Draw V Calibri (Body) 11 V Bvvv... ab Number $ 5000 .00 .0 <0 .00 11Rx 1C XV fx A B 36 $153,430 C $153,430 D E F G H 37 38 Required: 39 3-a. Prepare an income statement for the year ended May 31, 2019. 40 (Use a cell reference to link this financial statement to the relevant cell in the preceding financial statement.) 41 (Enter your answers in millions, not in whole dollars.) 42 (All answers should be input and displayed as positive values.) 43 44 45 46 445 FedEx CORPORATION Income Statement 47 (in millions) 48 Revenues 49 Service Revenue 50 Interest Revenue 51 52 Total Revenues 53 Expenses 54 Depreciation Expense 55 Income Tax Expense 56 Interest Expense 57 Office Expense 58 Rent Expense Repairs and Maintenance 59 Expense 60 Salaries and Wages Expense 61 esc Transportation Expense =Grading Worksheet + Workbook Statistics $ ! @ 1 2 3 4 75 % Bc MacBook Pro & 6 29 7 Q W E R T Y tab A lock S D F G H U * 8 J He + 9 A 0 J < > 0 1430 Chp 5 Intro expected value and variance - STAT 1430, section All, Spring... McGraw Hill Excel Question - Saved ezto.mheducation.com M Question 3 - Chapter 4 Excel Assignment Homework 5 - Connect Search for tools, help, and more (Option + Q) File Home Insert Formulas Share Data Review View Help Draw Calibri (Body) v 11 v BA~ V Number V $ 500 <0 .00 11R x 1C XV fx A B C D E F G H J 78 3-c. Prepare a classified balance sheet at May 31, 2019. 79 80 81 82 83 84 85 (Use a cell reference to link this financial statement to the relevant cell in the preceding financial statement.) (Enter your answers in millions, not in whole dollars.) (Negative amounts or amounts to be deducted should be input and displayed as negative values.) FedEx CORPORATION Balance Sheet May 31 + 86 87 88 Current Assets (in millions) Assets Current Liabilities Liabilities 89 Cash Accounts Payable 90 Accounts Receivable Income Tax Payable 91 F Prepaid Rent 92 Supplies 93 F Interest Receivable 94 Total Current Assets 95 96 97 98 Goodwill 99 100 101 102 Total Assets Equipment Less: Accumulated Depreciation Equipment, Net Salaries and Wages Payable Notes Payable (short-term) Total Current Liabilities Notes Payable (long-term) Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total Liabilities and Stockholders' Equit 103 104 105 < == Grading Worksheet + Workbook Statistics MacBook Pro e esc 1 2 8 N @ > Bc He 3 205 S4 $ % 96 & 29 7 8 * 61 ) 0 Q tab W E R T Y U 1 0 A lock S D F G H J K < GO 1430 Chp 5 Intro expected value and variance - STAT 1430, section All, Spring... McGraw Hill Excel Question Saved ezto.mheducation.com M Question 3 - Chapter 4 Excel Assignment Homework 5 - Connect Search for tools, help, and more (Option + Q) File Home Share Insert Review Data Formulas View Help Draw Calibri (Body) 11 V B~ Av 11Rx 1C V XVfx A B C D 57 55 Office Expense Rent Expense 58 Repairs and Maintenance 59 Expense 60 Salaries and Wages Expense 61 Transportation Expense 62 63 Total Expenses V Number V $ 600 .00 .00 .0 077 E FL G H J + 64 Net Income 65 66 3-b. Prepare a statement of retained earnings for the year ended May 31, 2019. 67 (Use a cell reference to link this financial statement to the relevant cell in the preceding financial statement.) 68 (Enter your answers in millions, not in whole dollars.) 69 (Negative amounts or amounts to be deducted should be input and displayed as negative values.) 70 71 72 73 74 FedEx CORPORATION Statement of Retained Earnings For the Year Ended May 31, 2019 (in millions) 75 Beginning Balance, 6/1/2018 76 Add: Net Income 77 Less: Dividends 78 Ending Balance, 5/31/2019 79 80 3-c. Prepare a classified balance sheet at May 31, 2019. 81 (Use a cell reference to link this financial statement to the relevant cell in the preceding financial statement.) 82 (Enter your answers in millions, not in whole dollars.) Alnanti mente amounts to ha dadunted child him.. dil tab =Grading Worksheet Workbook Statistics esc 1 e2 + Q W lock A S > Bc do 5 $ % 674 # 3 E D MacBook Pro & 6 29 7 R T Y U LL He 8 * 9 0 0 G H J K Revenues FedEx CORPORATION Income Statement Service Revenue (in millions) Interest Revenue Total Revenues Expenses Depreciation Expense 5 Income Tax Expense E Interest Expense Office Expense 58 Rent Expense 59 Repairs and Maintenance Expense 60 63 Salaries and Wages Expense Transportation Expense 62 63 Total Expenses 64 Net Income 66 3-b. Prepare a statement of retained earnings for the year ended May 31, 2019. 67 (Use a cell reference to link this Enancial statement to the relevant cell in the preceding financial statement.) 60 (Enter your answers in millions, not in whole dollars.) (Negative amounts or amounts to be deducted should be input and displayed as negative values.) RIC X A C 120 29 Income Tax Expense 20 Income Tax Payable 3,300 21 Interest Expense 22 Interest Receivable 23 Interest Revenue 24 Notes Payable (long-term) 590 200 60 27,600 25 Notes Payable (short-term) 1,000 25 Office Expenses 13,760 27 Prepaid Rent 900 2 Rent Expense 3,300 29 Repairs and Maintenance Expense 2,800 30 Retained Earnings 14,770 31 Salaries and Wages Expense 24,800 32 Salaries and Wages Payable 1,740 33 Service Revenue 69,700 34 Supplies 35 Transportation Expense 36. 500 20,550 $153,430 $153,430 D 37 3 Required: 393-a. Prepare an income statement for the year ended May 31, 2019. 42 (Use a cell reference to link this financial statement to the relevant cell in the preceding financial statement.) 41 (Enter your answers in millions, not in whole dollars.) 42 (All answers should be input and displayed as positive values.) > 5 Intro expected value and variance - STAT 1430, section All, Spring... ezto.mheducation.com M Question 3 - Chapter 4 Excel Assignment Homework 5 - Connect This question has been opened in a new tab. In order to continue your assignment, please save your Excel question. 3 [The following information applies to the questions displayed below.] FedEx Corporation reported its balance sheet at May 31, 2019. Assume the following alphabetically listed accounts were included in its trial balance immediately prior to preparing the financial statements. FedEx CORPORATION Adjusted Trial Balance Part 3 of 3 10 points eBook References Accounts Payable Accounts Receivable Cash Accumulated Depreciation Depreciation Expense Common Stock Dividends Equipment Goodwill Income Tax Expense Income Tax Payable Interest Expense Interest Receivable Interest Revenue At May 31, 2019 (millions of dollars) Debit Credit $ 2,960 $ 9,200 29,100 2,300 3,200 3,300 710 59,500 10,900 120 3,300 590 200 60 Notes Payable (long-term) Notes Payable (short-term) 27,600 1,000 Office Expenses 13,760 Prepaid Rent 900 Rent Expense 3,300 Repairs and Maintenance Expense 2,800 Retained Earnings 14,770 Salaries and Wages Expense 24,800 Salaries and Wages Payable Service Revenue 1,740 69,700 Supplies 500 Transportation Expense 20,550 $153,430 $153,430 < 1. Use the Open Excel in New Tab button to launch this question. 2. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect. # $ 1 2 3 4 de5 % 96 MacBook Pro Q W E R T Y 28 & 7 8*> + 9 0 0 P A S D F G H J K L M Integra Z 0 1430 Chp 5 Intro expected value and variance - STAT 1430, section All, Spring... McGraw Hill Excel Question - Saved ezto.mheducation.com M Question 3- Chapter 4 Excel Assignment Homework 5 - Connect Search for tools, help, and more (Option + Q) File Home Insert Share Formulas Data Review View Help Draw V Calibri (Body) 11 V BA *** 11R x 1C Xv fx A B C D Number $ +000 .00 00.0 | E F G H 1 3 4 5 6 2 FedEx Corporation reported its balance sheet at May 31, 2019. Assume the following alphabetically listed accounts were included in its trial balance immediately prior to preparing the financial statements. FedEx CORPORATION Adjusted Trial Balance 7 At May 31, 2019 8 (millions of dollars) 9 Debit Credit 10 Accounts Payable $2,960 11 Accounts Receivable $9,200 12 Accumulated Depreciation 29,100 13 Cash 2,300 14 Common Stock 3,200 15 Depreciation Expense 3,300 16 Dividends 710 17 Equipment 59,500 18 Goodwill 10,900 19 Income Tax Expense 120 20 Income Tax Payable 3,300 21 Interest Expense 22 Interest Receivable 590 200 23 Interest Revenue 24 Notes Payable (long-term) 25 Notes Payable (short-term) 26 Office Expenses 27 Prepaid Rent 78 > 13,760 900 Rent Fynence =Grading Worksheet + Workbook Statistics 3.300 esc 1 @ 2 #3 60 27,600 1,000 $ $ 4 % do 5 Bc + MacBook Pro 96 Q W E R T Y tab A lock S D LL & 29 7 He 8 * 9 C 0 G H J K 1430 Chp 5 Intro expected value and variance - STAT 1430, section All, Spring... McGraw Hill Excel Question - Saved ezto.mheducation.com M Question 3 - Chapter 4 Excel Assignment Homework 5 - Connect Search for tools, help, and more (Option + Q) File Home Share Insert Formulas Data Review View Help Draw V Calibri (Body) 11 V Bvvv... ab Number $ 5000 .00 .0 <0 .00 11Rx 1C XV fx A B 36 $153,430 C $153,430 D E F G H 37 38 Required: 39 3-a. Prepare an income statement for the year ended May 31, 2019. 40 (Use a cell reference to link this financial statement to the relevant cell in the preceding financial statement.) 41 (Enter your answers in millions, not in whole dollars.) 42 (All answers should be input and displayed as positive values.) 43 44 45 46 445 FedEx CORPORATION Income Statement 47 (in millions) 48 Revenues 49 Service Revenue 50 Interest Revenue 51 52 Total Revenues 53 Expenses 54 Depreciation Expense 55 Income Tax Expense 56 Interest Expense 57 Office Expense 58 Rent Expense Repairs and Maintenance 59 Expense 60 Salaries and Wages Expense 61 esc Transportation Expense =Grading Worksheet + Workbook Statistics $ ! @ 1 2 3 4 75 % Bc MacBook Pro & 6 29 7 Q W E R T Y tab A lock S D F G H U * 8 J He + 9 A 0 J < > 0 1430 Chp 5 Intro expected value and variance - STAT 1430, section All, Spring... McGraw Hill Excel Question - Saved ezto.mheducation.com M Question 3 - Chapter 4 Excel Assignment Homework 5 - Connect Search for tools, help, and more (Option + Q) File Home Insert Formulas Share Data Review View Help Draw Calibri (Body) v 11 v BA~ V Number V $ 500 <0 .00 11R x 1C XV fx A B C D E F G H J 78 3-c. Prepare a classified balance sheet at May 31, 2019. 79 80 81 82 83 84 85 (Use a cell reference to link this financial statement to the relevant cell in the preceding financial statement.) (Enter your answers in millions, not in whole dollars.) (Negative amounts or amounts to be deducted should be input and displayed as negative values.) FedEx CORPORATION Balance Sheet May 31 + 86 87 88 Current Assets (in millions) Assets Current Liabilities Liabilities 89 Cash Accounts Payable 90 Accounts Receivable Income Tax Payable 91 F Prepaid Rent 92 Supplies 93 F Interest Receivable 94 Total Current Assets 95 96 97 98 Goodwill 99 100 101 102 Total Assets Equipment Less: Accumulated Depreciation Equipment, Net Salaries and Wages Payable Notes Payable (short-term) Total Current Liabilities Notes Payable (long-term) Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total Liabilities and Stockholders' Equit 103 104 105 < == Grading Worksheet + Workbook Statistics MacBook Pro e esc 1 2 8 N @ > Bc He 3 205 S4 $ % 96 & 29 7 8 * 61 ) 0 Q tab W E R T Y U 1 0 A lock S D F G H J K < GO 1430 Chp 5 Intro expected value and variance - STAT 1430, section All, Spring... McGraw Hill Excel Question Saved ezto.mheducation.com M Question 3 - Chapter 4 Excel Assignment Homework 5 - Connect Search for tools, help, and more (Option + Q) File Home Share Insert Review Data Formulas View Help Draw Calibri (Body) 11 V B~ Av 11Rx 1C V XVfx A B C D 57 55 Office Expense Rent Expense 58 Repairs and Maintenance 59 Expense 60 Salaries and Wages Expense 61 Transportation Expense 62 63 Total Expenses V Number V $ 600 .00 .00 .0 077 E FL G H J + 64 Net Income 65 66 3-b. Prepare a statement of retained earnings for the year ended May 31, 2019. 67 (Use a cell reference to link this financial statement to the relevant cell in the preceding financial statement.) 68 (Enter your answers in millions, not in whole dollars.) 69 (Negative amounts or amounts to be deducted should be input and displayed as negative values.) 70 71 72 73 74 FedEx CORPORATION Statement of Retained Earnings For the Year Ended May 31, 2019 (in millions) 75 Beginning Balance, 6/1/2018 76 Add: Net Income 77 Less: Dividends 78 Ending Balance, 5/31/2019 79 80 3-c. Prepare a classified balance sheet at May 31, 2019. 81 (Use a cell reference to link this financial statement to the relevant cell in the preceding financial statement.) 82 (Enter your answers in millions, not in whole dollars.) Alnanti mente amounts to ha dadunted child him.. dil tab =Grading Worksheet Workbook Statistics esc 1 e2 + Q W lock A S > Bc do 5 $ % 674 # 3 E D MacBook Pro & 6 29 7 R T Y U LL He 8 * 9 0 0 G H J K
Expert Answer:
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
Students also viewed these accounting questions
-
The following information is available from the 2024 financial statements of Indigo Inc. and Sandhill Ltd.: Income tax expense Interest expense Net income Total assets Total current liabilities Total...
-
Fuel costs are a significant fraction of total costs in the airline industry. How might airline managers use options to manage fuel costs? What is the downside of doing this?
-
Financial ratio analysis is conducted by four groups of analysts: short-term lenders, long-term lenders, stockholders, and managers. What is the primary emphasis of each group, and how would that...
-
What do you like best about working at this company?
-
Recording Adjusting Entries Zimmerman Companys annual accounting year ends on December 31. It is December 31, 2011, and all of the 2011 entries except the following adjusting entries have been made:...
-
Why would you perform a silent installation? What is the purpose of a password complexity policy? Oracle offers a free download of all editions of the Oracle Database. How does the company derive...
-
a partir de los indicadores de liquidez o solvencia calculados, recomendara usted la compra del terreno que se evala en este caso? a. No es recomendable, toda vez que la empresa muestra baja...
-
Selling price for coffee machine $400 and coffee bean 600, variable cost pern unit for coffe machine and coffee bean grinder $160 and $320. Total units produced 480, Machine hours required to produce...
-
Describe the difference between an operational and a capital financial budget. Discuss what must be included to request finances through a capital request. What are some examples for capital request...
-
Suppose the memory of a computer is as follows: Address Ox100 Address 0x101 Address 0x102 Address 0x103 78 12 34 56 What integer value is this on a big-endian computer?
-
What is the discounted payback period assuming a 7% discount rate for the following flows? Time 0 1 2 3 4 Payments -3000 1500 700 600 1000
-
Daily demand for a product sold at a store follows a normal distribution with a mean of 16 units and standard deviation of 4 units. The store pays $100 for each unit. Fixed costs of replenishment are...
-
Why is Mary Wollstonecraft considered to be an early advocate of women's rights
-
Describe a group you belong or have belonged discuss the stages of group development and suggest how to improve the group effectiveness by using the group development model.
-
Quince Interests is a partnership with a tax year that ends September 30, 2012. During that year, Potter, a partner, received $3,000 per month as a guaranteed payment, and his share of partnership...
-
Russell (age 50) and Linda (age 45) Long have brought you the following information regarding their income and expenses for the current year. Russell owns and operates a landscaping business called...
-
Sally and Charles Heck received the following dividends and interest during 2012: Assuming the Hecks file a joint tax return, complete Schedule B of Form 1040 (on page 2-33) for them for the 2012 tax...
-
Test the overall significance of a regression model and identify the components of this test from your computer output.
-
Identify the sample.
-
Based on the strategy, what type of sampling technique will be used to identify the sample? a. Why did you choose this type of technique?
Study smarter with the SolutionInn App