What is the budgeted income statement for third quarter

Assignment Help Accounting Basics
Reference no: EM131744131

Question - Data from various budgets to go by is below.

Sales forecast: $185,000

Interest expense: $2,400

Selling and administrative expenses: $74,450

Cost of goods sold: $56,800

(Company's income tax rate is 30%)

(Income before taxes: $51,350)

What is the budgeted income statement for third quarter of the year?

Reference no: EM131744131

Questions Cloud

Identify and discuss a local law enforcement agency : Identify and discuss a local law enforcement agency that exemplifies best practice in cultural competency, community engagement
What are amounts of sarah deductible transportation expenses : Sarah purchased a new car at the beginning of the year. What are the possible amounts of Sarah's deductible transportation expenses
The best description of variables data : Which of the following is the best description of variables data?
Nussbaum incentive program : 1. How much would you assess Nussbaum's incentive program? 2. Which basic motivation concepts and theories are illustrated in this case?
What is the budgeted income statement for third quarter : Selling and administrative expenses: $74,450, What is the budgeted income statement for third quarter of the year
Find the value of your investment two years from now : What is the value of your investment two years from now? Multiply $6,800 × (1/1.10) or divide by 1.10 (one year's discount rate at 10 percent).
How big promises accurately record value of its drilling rig : How should Big Promises accurately record the value of its drilling rig? Should it be regarded as an impaired asset and carrying amount be written down
Explain unethical practices : How can the theories of leader influence on organizational culture be used to explain unethical practices?
People that affect the way we communicate : In addition to the differences such as; gender, sexual orientation, age, ethnicity, and culture-can you think of other differences among people.

Reviews

Write a Review

Accounting Basics Questions & Answers

  During its first year of operations gehrig company had

during its first year of operations gehrig company had credit sales of 3000000 of which 400000 remained uncollected at

  Explain the nature and importance of management accounting

ACCT6004 Management Accounting Research Component Assignment. Explain the nature and importance of management accounting

  Uncle john promised tom come and take care of me and i will

uncle john promised tom come and take care of me and i will leave you the farm when i die. tom took care of uncle john

  Show all financial statement effects of this long term bond

insurance companies and pension plans hold large quantities of bond investments. discount insurance corp purchased

  First-stage allocation to the setting up activity cost pool

How much cost, in total, would be allocated in the first-stage allocation to the Setting Up activity cost pool?

  Theoretical justification is there for widjaja company use

(Long-Term Contract-Percentage-of-Completion) Widjaja Company is accounting for a longterm construction contract using the percentage-of-completion method.

  Stocks current yield-capital gains yield and stock return

Suppose the price of a stock is $50 at the beginning of the year and $53 at the end of the year and it pays a $2 dividend during the year. Calculate the stocks current yield, capital gains yield and the stock's return.

  Quantitative methods-decision analysis

What are some inherent challenges in using decision trees effectively in today's organizations? How can these challenges be overcome?

  Prepare a single journal entry to record

It also pays a total of $1,440,000 in construction costs - this amount consists of $1,354,500 for the new building and $85,500 for lighting and paving a parking area next to the building. Prepare a single journal entry to record these costs incurr..

  What is the annual net cost of a monthly fee

What is the annual net cost of a monthly fee of $5, check processing fee of $.25, average 19 checks per month.

  How many units need to be sold to break even

Break-Even Analysis: You have been asked to calculate how many units need to be sold to break even, based on the costs provided in task #3.

  Calculate net sale revenue for october

Jim.com sell books on account $11 each (cost of these book is $16500) on October 10, 2011. One hundred of these book (cost $660) were damange in shipment, so Jim.com later received the damange good as sale return on October 13, Customer paid the b..

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