Q15-4. In a contribution income statement‚ costs are classified according to behavior as variable or fixed‚ and the contribution margin (the difference between total revenues and total variable costs) that goes toward covering fixed costs and providing a profit is emphasized. In a functional income statement‚ costs are classified according to function (rather than behavior)‚ such as manufacturing and selling and administrative. This is the type of income statement typically included in corporate
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Submit Homew ork for Ch tad9000 gfmcppeopigbdej Advanced Manag Question 1: Score 0/4 Your response Exercise 5-1 Fixed and Variable Cost Behavior [LO1] Espresso Express operates a number of espresso coffee stands in busy suburban malls. The fixed weekly expense of a coffee stand is $1‚200 and the variable cost per cup of coffee served is $0.22. Requirement 1: Fill in the following table with your estimates of total costs and cost per cup of coffee at the indicated levels of activity
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The balance sheet consists of assets and liabilities of any firm. The assets are called as the uses of the firm and the liabilities are called as the sources of the firm. Sources of the firm: (Debts or liabilities): The debts or liabilities are the claims of the outsiders against the assets of the firm. The liabilities refer to the amount payable by the firm to the claimholders; i.e. the amount owed by the firm to other parties. For an obligation to be recognized as a liability‚ it must meet three
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I am writing to analyse the company’s current balance sheet and income statement. Particularly‚ I will critique on the company’s results‚ compare it to past years‚ compare it to competitors‚ and make recommendations on how to improve its financial position. Neiman Marcus department stores offer luxurious and high-quality men’s and women’s apparel and accessories. The Neiman Marcus Group operates 35 stores in nearly 20 states. The 2004 net income was an impressive $204 million and revenue was $3
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The different between the formats of financial statements (income statement and balance sheet) for different types of business such as sole proprietorship‚ partnership and limited company Each company will have different economic sectors so they use different financial statements with different format that satisfy those sectors. The financial statements collect the financial records form the sales and purchases produce‚ the net taxable profit or loss for each month. Different types of business use
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Journal Entries Example Company A was incorporated on January 1‚ 2010 with an initial capital of 5‚000 shares of common stock having $20 par value. During the first month of its operations‚ the company engaged in following transactions: Date Transaction Jan 2 An amount of $36‚000 was paid as advance rent for three months. Jan 3 Paid $60‚000 cash on the purchase of equipment costing $80‚000. The remaining amount was recognized as a one year note payable with interest rate of 9%. Jan 4 Purchased office
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Income Statement of the Air Asia for the quarter end 31/3/2014‚ 30/6/2014 and 30/9/2014 First quarter 2014 (1Q14) The Group recorded revenue of RM1302.4 million for the quarter ended 31 March 2014‚ 0.1% higher than the revenue of RM1300.8 million recorded in the quarter ended 31 March 2013. The revenue growth was supported by a 4% growth in passenger volume while the average fare was down 9% at RM164 as compared to RM180.achieved in first quarter of 2013. Ancillary income per passenger was increased
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Balance Sheets A general ledger is the foundation of a company’s financial records‚ as they constitute the central summary of a company’s financial system. Every transaction is recorded through the general ledger. These records remain as a permanent track of the history of all financial transactions since the opening day of the company (Business Town‚ n.d.). The purpose of any business is to increase the owner’s equity through solid revenues. These revenues increase assets or proceed to decrease
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bank reconciliation‚ Apex Company provided the ff. information Balance per bank statement 1‚805‚000 Deposit in transit 325‚000 Return of customer’s check for 60‚000 Insufficient fund Outstanding checks 275‚000 Bank service change for August 10‚000 On Aug 31‚ 2011‚ what is the adjusted cash in bank? a. 1‚ 855‚ 000 b. 1‚ 795‚ 000 c. 1‚ 785‚ 000 d. 1‚ 755‚ 000 3. Credit balances in Accounts Receivable shall be classified as a. Current Liabilities
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1. Arredondo‚ Inc. has current assets of $2‚170‚ net fixed assets of $9300‚ current liabilities of $1350‚ and long-term debt of $3980. Building a balance sheet for this company‚ address the following questions: a. What is the value of the shareholders’ equity account for this firm? b. How much is net working capital? Arredondo‚IncBalance Sheet | Assets Liabilities and Owener`s EquityCurrent assets $2‚170 Current
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