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New Member
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Dec 20, 2005, 06:33 PM
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Accounting Final Exam Help Please
I have another one thank you for those that are helping me.
Revenue and expense data for Malden Company are as follows:
2006 2005Adminstrative expenses $37,000 $20,000
Cost of Good Sold 400,000 320,000
Income Tax 40,000 32,000
Net Sales 900,000 700,000
Selling Expenses 190,000 110,000
(A) Prepare a comparative income statement, with vertical analysis, stating each item for both 2006 and 2005 as a percent of sales.
Thank you again.
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Ultra Member
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Dec 20, 2005, 06:39 PM
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Here is part of the answer...
Comparative Income Statement
---------- 2006-----------2005
Net Sales--900,000------700,000
COGS----- 400,000------320,000
Net Proft---500,000------380,000
Admin Exp--37,000------20,000
Selling Exp--190,000------110,000
IBT---------273,000------250,000
Inc. Taxes---40,000------32,000
Net Income--233,000------218,000
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New Member
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Dec 20, 2005, 07:09 PM
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Can you tell me what IBT stands for? Thank you
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Ultra Member
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Dec 21, 2005, 06:06 AM
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Ibt = Income Before Tax.
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New Member
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Dec 21, 2005, 08:29 AM
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Thank you for all your help
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New Member
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Jun 17, 2009, 09:29 PM
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Equipment accquired at beginning of the year cost $56,000
estimatie residual value of 3,000
useful life of 5 years
Determine the 2nd year's depreciation using straight-line depreciation:)
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New Member
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Jun 17, 2009, 09:30 PM
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10,600
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New Member
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Jul 17, 2011, 04:09 PM
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Salter Inc.'s unit selling price is $52, the unit variable costs are $34, fixed costs are $118,254, and current sales are 10,623 units. How much will operating income change if sales increase by 5,856 units?
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New Member
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Nov 1, 2011, 01:35 AM
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Change in operating income is 144.44% approx..
In $ it is $105408.
It can either be found out by working a comparative income statement or applying Degree of operating leverage..
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New Member
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Nov 6, 2012, 03:38 PM
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Can I speak with someone about assets liabilites and owner's equity?
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New Member
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Nov 6, 2012, 03:39 PM
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Can I speak with some one about assets liabilites and owner's equity in preparring for my finial
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Ultra Member
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Nov 6, 2012, 03:47 PM
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What are your questions?
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