Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Mar 10, 2022

Income Statement - CAF 20x2 20x1 Food Sales $97661 $65817 Beverage Sales $75899 $50712 Total Sales Cost of Food $37238 $29957 Cost of Beverage

Income Statement - CAF 20x2 20x1 Food Sales $97661 $65817 Beverage Sales $75899 $50712 Total Sales Cost of Food $37238 $29957 Cost of Beverage $16033 $11094 Labour $26825 $24573 General Admin $9044 $8718 Marketing $8336 $9626 Total Costs Income from Operation Interest (expense income) Income before taxes Taxes Net Income Find Operating Income Ratio for the year 20x2.

Step by Step Solution

★★★★★

3.47 Rating (160 Votes )

There are 3 Steps involved in it

Step: 1

Ans caaleculation of operatings ancome ratio 20x2 20X2 65817 food s... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

23rd Edition

978-0324662962

More Books

Students also viewed these Accounting questions

Question

★★★★★

Part One Directions Complete pro forma for NOI Commercial Complex Tenant Bank Retailer Office Office Utilities Lease Type Taxes NNN OP EX Category Percentage 4 tenants Size Outparcel 3,125 9,600...

Answered: 1 week ago

Question

★★★★★

Income statement 2020 Net sales 60,000 Operating expenses excl. depreciation - 55,000 Depreciation - 1,500 Operating profit 3,500 Financial expenses - 1,000 Profit before tax 2,500 Tax -500 Reported...

Answered: 1 week ago

Question

★★★★★

Costs for the marketing department and total sales of Belfords, a British chain of department stores located in the United Kingdom and other European countries, are available on the Web site...

Answered: 1 week ago

Question

★★★★★

Hrishi is a senior executive for a large manufacturing company in Mississauga Ontario where he has been employed for the past 10 years and his annual salary is $250,000 including bonus. He is 47...

Answered: 1 week ago

Question

★★★★★

Closing the Balances in the Variance Accounts at the End of the Year Yohan Company has the following balances in its direct materials and direct labor variance accounts at year-end: Unadjusted Cost...

Answered: 1 week ago

Question

★★★★★

Answered: 1 week ago

Question

★★★★★

Determine whether or not there is a statistically significant difference in ???????? and ???????? suggested by each of the confidence intervals in Exercise 6.63.

Answered: 1 week ago

Question

★★★★★

Mainland Resources Inc. began operations on June 5, 2014. Journalize the following equity transactions that occurred during the first month ofoperations: 2014 5 Gave 4,000 common shares to the...

Answered: 1 week ago

Question

★★★★★

Question 34 Which of the following is a potential advantage of variable costing relative to absorption costing? The use of variable costing is consistent with cost-volume-profit analysis. Net income...

Answered: 1 week ago

Question

★★★★★

A storage tank is connected to a pond (at atmospheric pressure!) by a length of 3-in pipe and two gate valves. From previous operating experience, it has been found that when the tank is at a...

Answered: 1 week ago

Question

★★★★★

Identify the main principles of discrimination law in recruitment and selection and in employment.

Answered: 1 week ago

Question

★★★★★

When writing an email, a project manager reviews two large paragraphs in the email and removes any excess content. What email best practice are they using? 1 point Ask important questions. State what...

Answered: 1 week ago

Question

★★★★★

Sue reports her manager for harassment. It was determined that he did harass Sue. It is illegal to penalize someone for reporting harassment. Which of the following actions by the manager is...

Answered: 1 week ago

Question

★★★★★

Which of the following isnottrue concerning treasury stock? Select one: a. Holding treasury stock causes a company's number of shares issued and number of shares outstanding to be different. b....

Answered: 1 week ago

Question

★★★★★

The table below shows the number of visitors to a museum over a period of 5 days. Monday Tuesday Wednesday Thursday Children 120 110 90 135 Adults 130 140 125 105 Which stack plot best represents the...

Answered: 1 week ago

Question

★★★★★

Justify whether or not you believe that Penalty Enhancements should attach to crimes based on hate or bias?

Answered: 1 week ago

Question

★★★★★

Malahat Inc. 7.5% coupon bonds on the market that have ten years left to maturity. The bonds make annual payments. If the YTM on these bonds is 8.75%, what is the curent bond price?

Answered: 1 week ago

Question

★★★★★

For the following exercises, write the polynomial function that models the given situation. Consider the same rectangle of the preceding problem. Squares of 2x by 2x units are cut out of each corner....

Answered: 1 week ago

Question

★★★★★

As a preliminary to requesting budget estimates of sales, costs, and expenses for the fiscal year beginning January 1, 2011, the following tentative trial balance as of December 31, 2010, is prepared...

Answered: 1 week ago

Question

★★★★★

In 2007, Best Buy reported revenue of $35,934 million. Its gross profit was $8,769 million. What was the amount of Best Buys cost of merchandise sold?

Answered: 1 week ago

Question

★★★★★

The following selected transactions were completed during November between Sycamore Company and Bonita Company: Nov. 2. Sycamore Company sold merchandise on account to Bonita Company, $16,000, terms...

Answered: 1 week ago

Question

★★★★★

The following facts relate to McKane Corporation. 1. Deferred tax liability, January 1, 2019, $60,000. 2. Deferred tax asset, January 1, 2019, $20,000. 3. Taxable income for 2015, $115,000. 4....

Answered: 1 week ago

Question

★★★★★

From 2011 through 2019 as follows. Pretax financial income (loss) and taxable income (loss) were the same for all years since Lanier has been in business. Assume the carryback provision is employed...

Answered: 1 week ago

Question

★★★★★

Mitchell Corporation had income before income taxes of $195,000 in 2019. Mitchell's current income tax expense is $48,000 and deferred income tax expense is $30,000. Prepare Mitchell's 2019 income...

Answered: 1 week ago

Previous Question Next Question