Attached is a schedule of five proposed changes at the end of the year.Before theChangeAfter theChange$18,800,000 (a) $200,000 $19,000,000Proposed Change400,00013,600,00013,200,000 (b)1,600,000 (c)(100,000)1,500,000($ in 000's)Net salesCost of goods sold.Operating expensesOther revenueOther expenseNet income500,000 (d)450,000 (e)Net salesCost of goods soldOperating expensesOther revenueOther expenseTotal effect$4,050,00050,000(50,000)550,000400,000$4,050,000Required:1. & 2. Select whether each of the proposed changes and the total effect of all the changes are conservative, aggressive, or neutral.

Conservative accounting practices: Conservative accounting practices refer to the accounting…

Attached is a schedule of five proposed changes at the end of the year. Before the After the Change $18,800,000 (a) $200,000 $19,000,000 Change Proposed Change. 13,200,000 (b) 400,000 13,600,000 1,600,000 (c) (100,000) 1,500,000 500,000 (d) 450,000 (e) ($ in 000's) Net sales. Cost of goods sold Operating expenses Other revenue Other expense Net income. Net sales Cost of goods sold Operating expenses $4,050,000 Other revenue Other expense Total effect 50,000 (50,000) Required: 1. & 2. Select whether each of the proposed changes and the total effect of all the changes are conservative, aggressive, or neutral. 550,000 400,000 $4,050,000

Attached is a schedule of five proposed changes at the end of the year. Before the After the Change $18,800,000 (a) $200,000 $19,000,000 Change Proposed Change. 13,200,000 (b) 400,000 13,600,000 1,600,000 (c) (100,000) 1,500,000 500,000 (d) 450,000 (e) ($ in 000's) Net sales. Cost of goods sold Operating expenses Other revenue Other expense Net income. Net sales Cost of goods sold Operating expenses $4,050,000 Other revenue Other expense Total effect 50,000 (50,000) Required: 1. & 2. Select whether each of the proposed changes and the total effect of all the changes are conservative, aggressive, or neutral. 550,000 400,000 $4,050,000

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter7: Fixed Assets, Natural Resources, And Intangible Assets

Section: Chapter Questions

Problem 7.3.2MBA

See similar textbooks

Similar questions

Compute for the corrected profit for the following year: 2019 A.550,000 B.450,000 c.360,000 D.500,000
Use the following information to answer the questionsProperty:Purchase Price$7,017,000Acquisition Costs$0Year 1 PGI$1,263,060PGI Growth Rate/year4.0%Year 1 Miscellaneous Income$0Miscellaneous Income Growth Rate/year0.0%Annual Vacancy and Collection Losses/year11.0%Year 1 Operating Expense$415,926Operating Expense Annual Growth Rate2.8%Year 1 Capital Expenditures$38,220Capital Expenditures Annual Growth Rate1.6%Holding period (years)5Property to be sold for NOI6 capitalized at (Terminal Cap Rate):7.5%Selling Expenses in year 56.5%Financing:LTV67%Loan Costs (% of Mortgage Value)1.40%Loan term (years)30Monthly Amortization / monthly paymentsLoan is a 2/2 ARMLoan Rate = T-Bill + 0.37%Teaser Rate3.420%T-Bill Rate at Initiation2.990%T-Bill on Reset Date 15.540%T-Bill on Reset Date 25.910%T-Bill on Reset Date 36.850%T-Bill on Reset Date 47.250%T-Bill on Reset Date 58.120%T-Bill on Reset Date 68.900%Pre-tax Required Return32.00% 1-Find the annual debt service in year 3 2-Find the Annual Debt…
Total annual revenue Total revenue growth rate Terminal revenue growth rate Net operating profit margin (NOPM) Net operating asset turnover (NOAT) Projected total revenue for the following year would be: Select one: O O O $2,850,649 5.0% 2% 8.2% 3.42 a. $2,993,181 b. $2,948,141 c. None of these are correct d. $2,907,662
Given the following information:SalesFixed ExpensesVariable Expensess5,0002,0001,750What would expected operating profit be if the company experienced a 10% increase in fixedcosts and a 100/0 increase m sales volume? a) $1,375. b) $1,550. c) $1,250. d) $1,750.
Current assets of NorthPole.com at the end of each quarter were: 1st quarter $1.3 million, 2nd quarter $1.7 million, 3rd quarter $1.5 million and 4th quarter $2.2 million. The best estimate for North Pole's permanent current assets is: Seleccione una: Oa. $2.2 million. Ob. $1.675 million. Oc. $1.3 million. Od. $0.9 million.
2020 2019 Net sales.. P2,200,000 P2,000,000 Total Expenses. 1,998,000 1,800,000 Required: a. Compute the percentage change in 2020 for the amounts of (1) net sales and (2) total expenses
Cost of goods sold = 100,000 Merch at Beginning = 50,000Merch at End = 45,000 Acct Payable Beginning = 30,000Acct Payable End = 40,000 What is Cash paid for merch this year?
Find the value of P for which the inflows will equal the outflows. Find the effective rate first. Rate Year Outflows 0 1 2 3 4 5 678 9 10 -P -2P -4P -8P -16P $1,530 $2,545 $3,269 $3,490 18% pycd Inflows $24,000 $30,000 $36,000 $42,000 $48,000 $54,000
The sales and profit for two years were as below: (IN OMR) Sales Profit 2019 30000 10000 2020 20000 5000 What will be the correct amount of Sales required to earn a profit of OMR 20000? Select one: O a. OMR 50000 O b. OMR 45000 O c. OMR 60000 O d. OMR 40000
Perform a vertical analysis on the following information. 2021 2020Cash $ 420,000 $ 1,050,000Accounts receivable 660,000 300,000Inventory 1,020,000 925,000Long-term assets 3,900,000 2,725,000Total assets $ 6,000,000 $ 5,000,000
The sales and profit for two years were as below: (IN OMR) Sales Profit 2019 250000 15000 2020 350000 25000 What will be the correct amount of Profit when sales OMR 500000 are given? Select one: a. OMR 40000 b. OMR 30000 O c. OMR 20000 d. OMR 50000
The sales and profit for two years are as below: Sales Profit 2019 80000 20000 2020 100000 30000 Calculate Sales required to earn a profit of OMR 50000: Select one: a. OMR 140000 O b. OMR 180000 O c. OMR 120000 O d. OMR 160000