The ceo of smartphone apps llc is preparing a loan, Ask an Expert

Accounting

The CEO of Smartphone Apps, LLC is preparing a loan application. Using the data below (only), prepare an Income Statement. Within this Income statement, include totals for Cost of Goods Sold, Gross Margin, Sales General, and Administrative, Earnings before Interest and Taxes, Pretax Income, and Net Income. Also compute the Profit Margin on Sales. Submit using a spreadsheet.

Net Revenue $1,458,000
Production Labor Costs $385,444
Material Costs $247,500
Marketing $127,000
Depreciation $58,122
Research and Development $98,000
Administrative $258,300
Interest Expense $21,608
Taxes 25% of pretax Income

Slot Precision Services, Inc. has five alternative broaching machines/processes that are being studied. Only one will be chosen and the data is shown below. Recommend the choice for management that uses the internal rate of return criterion. Compare this with the decision with that of a Present Worth criterion. Submit your solution in a spreadsheet.
MARR 15% EAR

Time Horizon 5 years

Alternatives Investment in year 0 Annual Cash Flow Salvage value in last year

1 $50,000 $18,000 $0
2 $250,000 $85,000 $75,000
3 $350,000 $105,000 $125,000
4 $600,000 $150,000 $400,000
5 $800,000 $165,000 $600,000

View complete question

Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M944547

Have any Question?Write your Review or question?

Related Questions in Accounting Basics

Question - stockman corp purchased 10 1000 6 bonds of

Question - Stockman Corp. purchased 10, $ 1,000 6% bonds of Energy Corporation when the market rate of interest was 14%. Interest is paid semiannually on the bonds, and the bonds will mature in six years. Using the PV fu ...

Question - xyz ltd has a balance day of 31 december on 1

Question - XYZ Ltd has a balance day of 31 December. On 1 January 2XX3, it had an opening inventory balance of $12,000. XYZ Ltd purchased $23,000 worth of goods for resale. On 31 December 2XX3, the closing inventory bala ...

Assignment -in this assignment you are asked to provide a

Assignment - In this assignment, you are asked to provide a summary of recent developments relating to financial reporting and prepare financial statement reports in accordance with accounting standard requirements. As s ...

Question - on 1 january 2015 image plus ltd acquired

Question - On 1 January 2015 Image Plus Ltd acquired electronic equipment for $18 000, net of GST. It is estimated it will have no residual value. If depreciation is provided at 10% p.a. on the diminishing-balance basis, ...

Question - prepare journal entries the town records

Question - Prepare journal entries. The Town records encumbrances only for its Supplies appropriation. 1) Lancing adopted the following budget for the year: Revenues: Property taxes $275,000 Licenses and fees $35,000 App ...

Question - chopin corporation had these transactions

Question - Chopin Corporation had these transactions pertaining to debt investments: Jan.1 Purchased 90 10%, $1,000 Martine Co. bonds for $90,000 cash. Interest is payable semiannually on July 1 and January 1. July1 Rece ...

Intermediate product cost calculationfrom the information

Intermediate: Product cost calculation From the information given below you are required to: (a) Prepare a standard cost sheet for one unit and enter on the standard cost sheet the costs to show sub-totals for: (i) prime ...

Question - during 2017 crimson inc purchased 2775000 of

Question - During 2017, Crimson Inc. purchased $2,775,000 of inventory. The cost of goods sold for 2017 was $2,635,938 and the ending inventory at December 31, 2017 was $544,688. What was the inventory turnover for 2017?

Question - given the following data what is the value of

Question - Given the following data, what is the value of the gross profit as determined by the LIFO method? Sales revenue 300 units at $15 per unit Purchases 240 units at $10 per unit Beginning Inventory 120 units at $9 ...

Question - aqua corporation is a retail operation

Question - Aqua Corporation is a retail operation specializing in pool equipment and outdoor furniture. It is very interested in merging with Icterine Corporation, a lamp manufacturer; Aqua is very profitable and Icterin ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Accounting Basics Expert