Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. ali firm financial statements for the financial ye

Ali firm financial statements for the financial year 2020 comprise the following data. . ...

80.2K

Verified Solution

Question

Finance

image

image

Ali firm financial statements for the financial year 2020 comprise the following data. . Net income: dollar 15768 Depreciation: 2689 increase in inventory: 7823 increase in accounts receivable: 6406 decrease in accounts payable: 4062 . Calculate indirect method of operating cash flow: Answer: A&P is interested in predicting its income statement for the year 2021. The company estimates that its sales in 2021 will be $4500000. Using the fixed and variable cost data, Find the following: A&P Company Income statement For the Year Ended December 31, 2020 Sales 2000000 Less: Cost of goods sold Variable cost 1450000 Fixed cost 10000 540000 20000 34000 6000 Gross profit Less: Operating expenses Selling expense (all vanable) Utility expense all variable) Depreciation expensefall variable) Operating profit Less: Interest expense ( al fixed) Net profit before taxes Less: Taxes (10%) Net profit after taxes 480000 12000 468000 46800 421200 ASPs toto cost of goods sold in 20213 ALPs Depreciation Expense in 2021: ABP's Total operating expenses in 2021 AP's Net profit ofter taxes in 2021

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

Chemistry
1.2K views

1. A student prepares a 250.0 mL solution using 41.7 grams of potassium nitrite. They then...

Civil Engineering
1.2K views

Give excell sheet for load calculation for designing building in staad and etabs Give detailed excell format...

Electrical Engineering
1.2K views

Using the result of table-1 and table- 2, make the following ratio calculation (use the 1.2...

Accounting
1.2K views

Which of the following is being fulfilled when management compares the budget to actual? results? A. Planning B. Directing C. Controlling D. Adjusting

Basic Math
1.2K views

8 in K A triangular prism with its measurements is shown Find the surface area...

Algebra
1.2K views

Given that the system of linear equations Ax b is as follows find the least...

Accounting
1.2K views

The current sections of Bonita Inc.'s balance sheets at December 31, 2021 and 2022,...

Accounting
1.2K views

Larned Corporation recorded the following transactions for the just completed month. a. $74,000...

Accounting
1.2K views

In preparing a company's statement of cash flows for the most recent year, the following...

Accounting
1.2K views

Exercise 23-14 Your answer is partially correct. Try again. Oriole Inc., a greeting card company,...

Accounting
1.2K views

4. What income tax effect does a partnership's receipt of tax-exempt interest and the proceeds...

Accounting
1.2K views

During the fourth quarter of 2020, Dorsey Enterprises Corp. decided to invest excess cash in...