Entries by mary WAMBUGU

The following information is related to Alpha Company’s fiscal year 2017. Income Statement: Net Income $3,000,000 Depreciation Expense 500,000

August 27, 2019 in /by

The following information is related to Alpha Company’s fiscal year 2017.            Income Statement:                        Net Income                            $3,000,000                        Depreciation Expense              500,000                        Loss on Sale of Plant Assets      50,000                        Interest Expense                           5,000            Balance Sheet – 12/31/17: Increase (Decrease)                        Accounts Payable                 ($40,000)                        Plant Assets – Purchased      250,000                        Plant Assets – Disposals        (100,000)            Additional Information:                        Common Stock exchanged for outstanding Long Term Notes Payable of $125,000                        Dividends […]

 

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The following financial information is for Alpha Corporation are for the fiscal years ending 2017 & 2016 (all balances are normal): Item/Account 2017

August 27, 2019 in /by

The following financial information is for Alpha Corporation are for the fiscal years ending 2017 & 2016 (all balances are normal): Item/Account 2017 2016 Cash $26,000 $16,000 Accounts Receivable 40,000 50,000 Inventory 30,000 22,000 Current Liabilities 50,000 42,000 Net Sales (all credit) 390,000 360,000 Cost of Goods Sold 260,000 250,000 Use this information to determine for FY 2017: […]

 

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Bravo utilizes a JIT production system and there are no Raw Materials, Work-in-Process or Finished Goods inventories. Bravo Company expects that all costs will remain the same for FY 2017 with the exception of fixed factory overhead which is budgeted to increase by $1,700. Use this information to determine:1.

August 27, 2019 in /by

Bravo utilizes a JIT production system and there are no Raw Materials, Work-in-Process or Finished Goods inventories. Bravo Company expects that all costs will remain the same for FY 2017 with the exception of fixed factory overhead which is budgeted to increase by $1,700. Use this information to determine:1. FY 2016 Cost of Goods Sold […]

 

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During FY 2016, Bravo Company sold 16,000 units for $84,000. Bravo had $3.00 variable costs per unit sold. Bravo also reported $28,000 of fixed costs. Use this information to determine FY 2016:

August 27, 2019 in /by

During FY 2016, Bravo Company sold 16,000 units for $84,000. Bravo had $3.00 variable costs per unit sold. Bravo also reported $28,000 of fixed costs. Use this information to determine FY 2016: 1. Contribution Margin per unit 2. Breakeven in Units 3. Breakeven in Total Sales (Round any total dollar value to the nearest whole dollar & enter […]

 

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