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there one question which has many subtopics youll get multiile likes and please hurry thanks please highlight the net income for all questions part a
there one question which has many subtopics youll get multiile likes and please hurry
The following is a summary of transactions for January 20xx, gathered by the Sample Cafe bookkeeper Sample Cafe Transactions Item Notes Includes 600 medium cups medium cups sold to the college and delivered to a reception that has been invoiced, but not yet paid 5year te 7.700 medium cups of coffee sold at $3.00 each 3,600 large cups of coffee sold at $4.00 each Espresso maker purchased last year for $11.400 5000 premium for business Insurance $3.500 for rent $2,300 for coffee beans Premium for fully Includes $2.200 in rent deposits $1,600 for coffee cups Includes coffe docarded valued at $100 O cups in inventory at the beginning of Saruary $700 worth of cups still in inventory at the end of month $2.500 owed in parole $16.100 to employees for payroll $100 of interest on loan Paid mid- month Includes $500 inity deposits $1,100 for electricity and water 12.000 in advertising $5,000 per week billed monthly Use the preceding transaction information to create a Cash-Based Income Statement for January using the following template. Account Balance Revenues $0 Expenses Coffee and Cups $0 Salaries and Wages $0 Rent and Utilities 0 Advertising 0 Insurance SO Equipment $0 Interest $0 Other Expenses SO Total Expenses $0 Now use the transaction information to create a Accrual-Based Income Statement for January using the following template. Account Balance Revenues SO Cost of Goods Sold SO Gross Margin, or Gross Profit $ 0 Expenses Salaries and Wages 0 Rent and Utilities 0 Advertising Insurance Equipment Depreciation SO Interest 0 . Total Expenses : What is the gross margin percent for Sample Cafe? Answer 0 % For each cup of coffee sold, what is the average contribution margin? Answer $ 0.00 What are salaries and wages as a percent of revenue? Answer 0 % What is the net income as a percent of revenue? Answer 0.0 % % QUESTION 7 If Sample Cafe had given employees a 10% raise at the beginning of January, what would net income have been presuming taxes increase at the same rate as wages Answer Which of the following statements are true based on the differences between the two accounting approaches used in January? The cash-based system understated revenues relative to what was actually sold. Cash received from sales was less than revenues on the income statement using the accrual-based system U Cash flows were more accurately represented using the accrual-based system n The monthly cost of having an espresso machine was more accurately represented using the accrual-based system Net income is always higher using an accrual accounting system thanks
please highlight the net income for all questions part a and bu
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