Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 1. how to prepare projected income statement for t

1. HOW TO PREPARE PROJECTED INCOME STATEMENT FOR THE YEAR ENDING 31 OCTOBER 2020? SUBJECT...

60.1K

Verified Solution

Question

Accounting

1. HOW TO PREPARE PROJECTED INCOME STATEMENT FOR THE YEAR ENDING 31 OCTOBER 2020?

SUBJECT IS : PROJECT FINANCIAL MANAGEMENT.

2. projected statement of financial position as at 31 october 2020

information: Stanwick Ltd, a manufacturing concern, is making financial plans for one of its projects for the 12 months commencing 01 November 2019. The estimates of the operating results and financial position at the year end 31 October 2019 are show in the statements below. Sales: 1 800 000; cost of sales (1140000); Labour: 450 000; Materials: 260 000; Overheads 370 000; Depreciation 60 000; Gross Profit 660 000; Operating expenses (300 000); Selling expenses 138 000; General and administrative expenses 162 000; Operating profit 360 000; Interest expense (40 000); Profit before tax 320 000; Income tax (96 000); Profit after tax 224 000.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

8. A firm's target cash balance should be set as the smaller of (1) its transaction...

Mechanical Engineering
1.2K views

Solidification Processing: Consider the solidification of superheated (Ti = 1480oC) Inconel X spheres of various sizes (from 1...

General Management
1.2K views

Strategic HR Planning Discuss the Corporate Strategy impact on HR, Develop an HR Strategy linked to the...

Biology
1.2K views

The cytoskeleton of a cell is comprised of which of the following macromolecules?ProteinsLipidsCarbonhydratesNucleic acids

Basic Math
1.2K views

Suppose the probability of an event is 0 60 What are the odds in favor...

Basic Math
1.2K views

1 point Determine whether each of the following statements is true or false 1 Every...

Statistics
1.2K views

Find the expected payback for a game in which you bet 8 on any number...

Algebra
1.2K views

The function f is defined as follows f x 3 int x a Find the...

Accounting
1.2K views

Milano Pizza is a small neighborhood pizzeria that has a small area for...

Accounting
1.2K views

QUESTION 4 Production costs flow to the income statement under cost of goods sold...

Accounting
1.2K views

IS THIS A PUBLIC CHARITY A DIFFERENT KIND OF CHARITY, INC.... their numbers OVER...

Accounting
1.2K views

PART 2: Scenario-Based Multiple-Choice Questions Use the below information to answer the following NINE questions...