For 2014, Kasay Company initiated a sales promotion campaign that included the expenditure of an additional $30,000
Question:
For 2014, Kasay Company initiated a sales promotion campaign that included the expenditure of an additional $30,000 for advertising. At the end of the year, Scott Brown, the president, is presented with the following condensed comparative income statement:
Instructions
1. Prepare a comparative income statement for the two-year period, presenting an analysis of each item in relationship to net sales for each of the years. Round to one decimal place.
2. To the extent the data permit, comment on the significant relationships revealed by the vertical analysis prepared in(1).
Transcribed Image Text:
Kasay company Comparative Income Statement For the Years Ended December 31, 2014 and 2013 2014 2013 Sales. $820,000 20,000 900,000$800,000 340,000 $540,000$460,000 $176,000 72,000 $248,000 $212,000 92,000 378,000 304,000 240,000 S 64,000 922,500 22,500 360,000 216,000 81,000 $297,000 $243,000 135,000 Administrative expenses.... Income from operations ther income Income before income tax ncome tax expense. Net income.... 270,000 108,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 64% (14 reviews)
1 KASAY COMPANY Comparative Income Statement For the Years Ended December 31 2014 and 2013 2014 2013 ...View the full answer
Answered By
Saikumar Ramagiri
Financial accounting:- Journal and ledgers, preparation of trail balance and adjusted trail balance Preparation of income statement, retained earning statement and balance sheet Banks reconciliation statements Financial statement analysis Cash flow statement analysis (both direct and indirect methods) All methods of Depreciations Management Accounting:- Ratios Budgeting control Cash budget and production budget Working capital management Receivable management Costing:- Standard and variance costing Marginal costing and decision making Cost-volume-profit analysis Inventory management (LIFO, FIFO) Preparation and estimation of cost sheet Portfolio management:- Calculation of portfolio standard deviation or risk Calculation of portfolio expected returns CAPM, Beta Financial management:- Time value of money Capital budgeting Cost of capital Leverage analysis and capital structure policies Dividend policy Bond value calculations like YTM, current yield etc International finance:- Derivatives Futures and options Swaps and forwards Business problems Finance problems Education (mention all your degrees, year awarded, Institute/University, field(s) of major): Education Qualification Board/Institution/ University Month/Year of Passing % Secured OPTIONALS/ Major ICWAI(inter) ICWAI inter Pursuing Pursuing - M.com(Finance) Osmania University June 2007 65 Finance & Taxation M B A (Finance) Osmania University Dec 2004 66 Finance & Marketing. B.Com Osmania University June 2002 72 Income Tax, Cost & Mgt, Accountancy, Auditing. Intermediate (XII) Board of Intermediate May 1999 58 Mathematics, Accountancy, Economics. S S C (X) S S C Board. May 1997 74 Mathematics, Social Studies, Science. Tutoring experience: • 10 year experience in online trouble shooting problems related to finance/accountancy. • Since 6 Years working with solution inn as a tutor, I have solved thousands of questions, quick and accuracy Skills (optional): Technical Exposure: MS Office, SQL, Tally, Wings, Focus, Programming with C Financial : Portfolio/Financial Management, Ratio Analysis, Capital Budgeting Stock Valuation & Dividend Policy, Bond Valuations Individual Skills : Proactive Nature, Self Motivative, Clear thought process, Quick problem solving skills, flexible to complex situations. Achievements : 1. I have received an Award certificate from Local Area MLA for the cause of getting 100% marks in Accountancy during my Graduation. 2. I have received a GOLD MEDAL/Scholarship from Home Minister in my MBA for being the “Top Rank student “ of management institute. 3. I received numerous complements and extra pay from various students for trouble shooting their online problems. Other interests/Hobbies (optional): ? Web Surfing ? Sports ? Watching Comics, News channels ? Miniature Collection ? Exploring hidden facts ? Solving riddles and puzzles
4.80+
391+ Reviews
552+ Question Solved
Related Book For
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
Question Posted:
Students also viewed these Managerial Accounting questions
-
For 2010, Othere Technology Company initiated a sales promotion campaign that included the expenditure of an additional $20,000 for advertising. At the end of the year, George Wallace, the president,...
-
For 2016, Indigo Company initiated a sales promotion campaign that included the expenditure of an additional $39,000 for advertising. At the end of the year, Lumi Neer, the president, is presented...
-
For 20Y2, Tri-Comic Company initiated a sales promotion campaign that included the expenditure of an additional $50,000 for advertising. At the end of the year, Lumi Neer, the president, is presented...
-
Add to Graph a method subgraph() that takes a SET as its argument and returns the induced subgraph (the graph comprising the specified vertices together with all edges from the original graph that...
-
A stellar object is emitting radiation at 3.55 mm. (a) What type of electromagnetic spectrum is this radiation? (b) If a detector is capturing 3.2 108 photon per second at this wavelength, what is...
-
Fletcher Companys current stock price is $36.00, its last dividend was $2.40, and its required rate of return is 12%. If dividends are expected to grow at a constant rate, g, in the future, and if r...
-
You have recently been employed as the manager of internal audit for a large multinational financial services company. It is clear to you that you have been given the job because of your reputation...
-
Contrast the traditional Porsche customer decision process to the decision process for a Cayenne or a Panamera customer. Porsche (pronounced Porsh-uh) is a unique company. It has always been a niche...
-
Acoma, Incorporated, has determined a standard direct materials cost per unit of $6.60 (2 feet $3.30 per foot). Last month, Acoma purchased and used 4,660 feet of direct materials, for which it paid...
-
Using the Blazer Corporation information and financial statements created in unit 2, create a cash flow statement for 2018. Then answer the following questions about the statement and the...
-
For 2014, Lindell Company reported its most significant decline in net income in years. At the end of the year, H. Finn, the president, is presented with the following condensed comparative income...
-
Data pertaining to the current position of Forte Company are as follows: Cash ....................$412,500 Marketable securities.............. 187,500 Accounts and notes receivable (net)............
-
Instagram is a businesss visual shop on mobile, and were seeing more people seek out businesses there, said Sheryl Sandberg, Facebooks chief operating officer. What types of brands lend themselves to...
-
Elizabeth and Robert are a young couple who recently got married. They wish to have children, but before trying to conceive, they have genetic testing done and find out that they are both carriers of...
-
The comparative balance sheets and income statements for Rundle Company follow: Balance Sheets As of December 31 Year 2 Year 1 Assets Cash Accounts receivable $23,360 1,743 $2,974 1,046 Inventory...
-
Midland Resources has two production departments (Fabrication and Assembly) and three service departments (Engineering, Administration, and Maintenance). During July, the following costs and service...
-
Summary and analysis of the primary evidence. To complete the summary and analysis, must address these specific questions. Who was the author[s], date and/or origins of the primary source? To whom...
-
Last year's sales were $225,000,000. The company has 60,000 bonds with a 30-year life outstanding, with 15 years until maturity. The bonds carry a 10 percent semi-annual coupon, and are currently...
-
Rent control causes larger shortages in the _________ run because over that time horizon, supply and demand are _________ elastic. a. long; more b. long; less c. short; more d. short; less
-
What services are provided by the provincial and territorial governments?
-
The value chain is an analytical technique for identifying organizational opportunities and threats. True of False
-
The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $82.60 on December 31, 20Y2. Instructions Determine the following measures for...
-
The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $82.60 on December 31, 20Y2. Instructions Determine the following measures for...
-
The dividend yield of Suburban Propane was 10.2% in a recent year, and the dividend yield of Google was 0% in the same year. What might explain the difference between these ratios?
-
Next year, the economy is expected to be in recession with probability 0 . 3 and in expansion with probability 0 . 7 . In the case of recession, the return on stock X is expected to be - 5 % and the...
-
Aria Acoustics, Inc. ( AAI ) , projects unit sales for a new seven - octave voice emulation implant as follows: Year Unit Sales 1 9 1 , 0 0 0 2 1 0 4 , 0 0 0 3 1 1 8 , 0 0 0 4 1 1 3 , 0 0 0 5 9 4 , 0...
-
Steve's house was destroyed in a tornado in 2023. He purchased the house for $150,000 in September 2012. The fair market value of the house before the tornado was $400,000 and the fair market value...
Study smarter with the SolutionInn App