homework 12 - Financial accounting homework AP6-2, AP6-4,...

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Financial accounting homework AP6-2, AP6-4, AP6-5, Compute the Gross Profit Percentage and Receivables Turnover for Papa John’s for FY 2008. AP6-2 1. Bad Debt expense (E)………4908 Allowance for doubtful accounts…. 4908 Allowance for doubtful accounts…. .5060 Accounts receivable……………………. .5060 Allowance s for doubtful accounts Balance at beginning of year Additions charged to costs and expenses Deductions from reserve Balance end of year Year 3 2032 4908 5060 1880 Year 2 1234 5475 4677 2032 Year 1 940 5269 4975 1234 AP6-4 Rang Corporation Income Statement For the Year Ended December 31,2012 Net sales revenue 175,000 Cost of goods sold 98,000 Gross Profit =77,000 Operating Expenses Selling expense 17,000 Administrative and general expense 18,000 Bad debt expense 2,000 Sales discounts 8,000 Total operating expenses =45,000 Income from operations =32,000 Income tax expense =9600 Net income ==22,400
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Financial accounting homework Earnings per share on common stock outstanding = 22,400/10,000 shares= $2.24/share
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This note was uploaded on 12/01/2009 for the course H ADM 121 at Cornell University (Engineering School).

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homework 12 - Financial accounting homework AP6-2, AP6-4,...

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