User Account

All Pages

Prepare a classified income statement for the year ended

Assignment Help Accounting Basics
Reference no: EM131576102

Question: I. The following data were taken from the financial statements of TUV Company as of December 31, 2010:

1. Sales P5,000,000

2. Selling expenses 360,000

3. Administrative expenses 120,000

4. Cost of Goods Sold/Cost of Sales 3,500,000

5. Interest Expense 60,000

6. Income tax 20%

7. Gross profit 46500000

8. Profit before tax ?

9. Profit for the period ?

REQUIRED: Supply the missing amounts and prepare a classified income statement for the year ended December 31, 2010

Reference no: EM131576102

Questions Cloud

Use to reduce and mitigate those risks : Discuss several common financial risks and the methods you would use to reduce and mitigate those risks.
Would a person be interested in the film why or why not : Would a person be interested in this film? Why or why not? Being a review, you are choosing to persuade others that your opinion on interpretations is correct.
The bonds make semiannual payments-yield to maturity : Stein Co. issued 16-year bonds two years ago at a coupon rate of 9 percent. The bonds make semiannual payments.
Pitfalls front desk agents should always avoid : Think of 3 best practices front desk agents should always execute at the front desk, and 3 pitfalls front desk agents should always avoid.
Prepare a classified income statement for the year ended : REQUIRED: Supply the missing amounts and prepare a classified income statement for the year ended December 31, 2010.
What will happen to existing supply avenues : What will happen to existing supply avenues? What would be the costs and benefits to governments
Evaluating the research : discipline-what questions would you ask your classmate if you were evaluating the research
How much will you have in the account in six years : How much will you have in the account in 3 years? How much will you have in the account in 6 years?
How might intelligence and moral development be related : How might intelligence and moral development be related?Explain how you might view it using a strengths perspective.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd