TUNNY Quiz.UUL B TUA. A. 2. (10 points) The task is to match the lettered items with the correct Termy Situations in the table below. A. This statement states or records a business's assets, abilities, and owners equity as of particular date B. This represents the dollar value of the ownes investment in the business This represents and reports a business's performance during a particular period of time. D. This item as entered on the Income Statement or Profit and Loss Statement refers to the purchase costs (often the wholesale price paid) that were incurred for the products that were then actually sold. E. This item as entered on the Income Statement or Profit and Loss Statement, is a non- Gish expense E. This is an entry on the balance sheet representing the total net income that the business has held within the business, that is, reinvested in the business over time This entry on the Balance Sheet represents the depreciated values of items that have lives in the business longer than one accounting period. This entry on the Balance Sheet represents the amount that is owed to others beyond the next accounting period L. This entry on the Balance Shed represents the amount that is owed to others in the next accounting period J. This entry on the Balance Sheet is the value of any good that belongs to the business such as cash, equipment or property Terms Situation Matching Letter The Income Statement or Profit and Loss Statement Depreciation Expo On the Balance Sheet the entry for Owners Equity Retained Earnings On the Income Statement the entry for Cast of Goods Sold On the Balance Sheet the entry for Net Fixed Assets On the Balance Sheet the entry for Assets The Balance Sheet On the Balance Sheet the entry for Land-Term Liabilities On the Balance Sheet the entry for Current Liabilities O Download BIU A A IW 1. (10 poin) March the ladies with the corect Tem. Appearing below is a list of wede. Following that is a list of Select the what best munches the Termine A Refers to the costs that were actually incurred for the sales of a product B Refers to Gross Profit minus Total Operating Expenses in the period covered by the P&L C Revenue generated from the sales of product in the period covered by the P & L. This total includes cash sales as well as credit sales DI Product Sales minus Cost of Goods Sold E What is paid to the owners of the business's shares of Common Stock? F Refers to revenue generated from the sales of services in the period covered by the P&L G Results from subtracting Interest Expense from Operating Profit. H. The sum of Product Sales and Service Income I Refers to the expenses of operating the business in the period covered by the P&L Ja determined by adding Service Income to Grow Margin Matching Letter Terms Total Operating Expenses Total Revenue Operating Profit Dividends Gross Margin Cost of Goods Sold Product Sales Service Income Gross Profit Net Income Before Tax BIU 3 points) Utilize the information given to you in the balance sheet and income statement to fill in and finish the attached profitability linkage model. Fill in all boxes with the exception that you can fill in the "Total Operating Expenses" box without filling in all individual expense items boxes. Balance Sheet Total Current $700,000 Total Current $400,000 Total Fixed $2,300,000 Long term Liabilities $1,200,000 Total Liabilities $1,600,000 Total Owners Equity $1,400,000 Total Assets $3,000,000 Total Lab Owners Equity $3,000,000 INCOME STATEMENT Last 12 months Dollars Product Sales 56,200,000 Service Income $450,000 Total Receipts 56,650,000 Cost of Goods $4,600,000 Gross Margin $1,600,000 Gross Profit $2,050,000 Total Operating Expenses $1,650,000 Operating Profit $400,000 Other Income $0 Interest Exp $130,000 NIET $270,000 & c O & Tools Help le Do @ @ Normal BIU A - A- E DE Toul Recipe PROFITABILITY LINKAGE MODEL Operating Management The FulLab Portal OL Tans is Deprecation Son of God Thule Rad Adama DED SO Income S NEE huitar US Tag Puchado Balbos Misc. Exp STE 5 Total Recep Ats Acco Carreto ROEN In Toale Land Tora A OI Y Saa Normal BIU A. A Equip Strand Page 4 of 5 FINLAR Sur More Som 3 To Slong