The ceo of smart phone cases llc is preparing a loan

Assignment Help Accounting Basics
Reference no: EM13483851

The CEO of Smart Phone Cases, LLC is preparing a loan application to be used for expansion. Using the data below (only), prepare an Income Statement. Within this Income statement, include totals for Cost of Goods Sold, Gross Margin, Sales General, and Administrative, Earnings before Interest and Taxes, Pretax Income, and Net Income. Also compute the Profit Margin on Sales =Net Income / Revenue. Provide Spreadsheet.

Price each

$19.95


Quantity Sold

50,000


Production Labor Costs each unit

$8.25


Material Costs each unit

$2.00


Labor Overhead

35%

of labor

Marketing

$45,000


Depreciation

$8,000


Research and Development

$18,000


Administrative

$52,000


Interest Expense

$2,600


Taxes

25.0%

of pretax Income

Reference no: EM13483851

Questions Cloud

Consider how economic conditions affect the default risk : how the yield curve may respond to prevailing conditions.consider how economic conditions affect the default risk
Grippers expects to sell 8500 pairs of shoes for 180 each : preparing an operating budgetgrippers sells its rock-climbing shoes worldwide. grippers expects to sell 8500 pairs of
Consider the prevailing conditions for the following : forecasting interest rates based on prevailing conditions.consider the prevailing conditions for the following factors
What is the valuation of the bond if the market : you need to present to your client alice cartwright some investment options for her to choose from. her choices are
The ceo of smart phone cases llc is preparing a loan : the ceo of smart phone cases llc is preparing a loan application to be used for expansion. using the data below only
Suppose reeder corp has three divisions all using the : suppose reeder corp. has three divisions all using the warehouse pipes seals and flanges. the total warehousing cost
Examine and discuss the characteristics of npv and the role : in working out your responses to the discussion question you should choose examples from your own experience or find
Combining the following information compute the total : combining the following information compute the total amount of 1 cash flow from investing activities and 2 cash flow
Comment on any trends in the dataobtain a current issue of : obtain a current issue of the federal reserve bulletin or review of copy from the feds web site www.federalreserve.gov

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much was the company return on assets

Lake Coffee Company reported net income of $54,000 and net sales totals $800,000. The company's asset turnover ratio is 4.5 times. How much was the company's return on assets?

  Highest point of trajectory

A golfer's tee shot follows a path given by y = 64t - 16t^2, where y is the height of the ball (in feet) after t seconds of flight. Halfway through its flight, the golf ball reaches the highest point of its trajectory. How high is that?

  Floating exchange rate regime

Assume that the U.S. Congress imposes an raise in taxes. Under the floating exchange rate regime, carefully illustrate and describe the process that will generate a new goods market

  Balance sheet of a manufacturer

Which of the following would not be found on the Balance Sheet of a manufacturer?

  Cost of goods sold for specific year

If Carly Manufacturing Company's cost of goods manufactured for 2008 amounted to $1,390,000, its cost of goods sold for the year is

  What amount can kevin exclude from gross income

Kevin is a candidate for an undergraduate degree at a local university. During 2010, he was granted a fellowship that provided the following: What amount can Kevin exclude from gross income in 2010?

  Amortization schedule for three-year period

Prepare an amortization schedule for the three-year period. Organize the information in accounts under an accounting equation. Prepare an income statement, balance sheet, and statement of cash flows for each of the three years.

  An excerpt from a conversation between two sales clerks

The following is an excerpt from a conversation between two sales clerks, Tracy Rawlin and Jeff Weimer. Both Tracy and Jeff are employed by Magnum Electronics, a locally owned and operated electronics retail store.

  Part 11 what is the break-even point bep and why is it

part 11 what is the break-even point bep and why is it important?2 what is the contribution margin cm and why is it

  Shlee corporation issued a 7-year 67300

shlee corporation issued a 7-year 67300 zero-interest-bearing note to garcia company on january 1 2011 and received

  Amount of cash reported on a company bank statement

Differences between the amount of cash reported on a company's bank statement and the balance in the company's Cash account before the bank reconciliation are primarily due to:

  What is the depreciation expense for year 1

On January 1, year 1, an entity acquires a new machine with an estimated useful life of 20 years for 100,000. The machine has an electrical motor that must be replaced every five years at an estimated cost of 20,000.

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!

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