Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. can someone explain me how to get the results for

Can someone explain me how to get the results for Proj 2015? Thank you ...

70.2K

Verified Solution

Question

Accounting

Can someone explain me how to get the results for Proj 2015? Thank you

2014 Proj 2015
Current Assets Cash $ 20
Accounts Receivable $ 240
Inventory $ 240
Total Current Assets $ 500
Net Plant & Equipment $ 500
Total Assets $ 1,000
Liabilities & Owners Equity
Accounts Payable $ 100
Notes Payable $ 100
Total Current Liabilities $ 200
Long Term Debt $ 100
Total Liabilities $ 300
Common Stock $ 500
Retained Earnings $ 200
Total Stockholders' Equity $ 700
Total Liabilities, Equity $ 1,000
Income Statement Sales $ 2,000
COGS $ 1,200
Gross profit $ 800
Selling and Admin Expense $ 700
EBIT $ 100
Interest Expense $ 10 $ 20
EBT $ 90
Taxes @ 40% $ 36
Net Income $ 54
Common Dividend $ 21.6
Addition to Retained Earnings $ 32

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

Basic Math
1.2K views

You are interested in finding a 90 confidence interval for the mean number of visits...

Medical Sciences
1.2K views

please explain the 2 mechanisms that protect the stomach from being digested

Economics
1.2K views

c. Discuss a work situation in which you, a manager, or other employee had inadequate communications skills...

Physics
1.2K views

1. A submarine (sub A) travels through water at a speed of 8.00 m/s, emitting a...

Biology
1.2K views

KEY Unaffected male Unaffected female Affected male Affected female 25 1 11 1 H 2...

Geometry
1.2K views

arks Science Ecology a E Edulastic omplicated Prisms bawi 1 unit T

Basic Math
1.2K views

Scientist claims that pneumonia causes weight loss in mice The table shows the weights in...

Basic Math
1.2K views

The city of Raleigh has 11200 registered voters. There are two candidates for city council...

Accounting
1.2K views

The annual effective rate of interest on a loan is a...

Accounting
1.2K views

Knowledge Check 01 Which of the following statements about donated assets are true? ...

Accounting
1.2K views

Global Fitters, an international clothing company, has purchased material handling equipment that cost $100,000 and...

Accounting
1.2K views

Perez Co. previously acquired 10,000 shares of its own stock ($1 par) in the open...