20 Lecture 4b-ch. 5

20 Lecture 4b-ch. 5 - Solutions to exercises in lecture:...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Solutions to exercises in lecture: Ch. 5 M5-2 1. C 2. A 3. B 4. C 5. B M5-3 No. Title _____2__ Form 10-K _____3__ Annual Report _____1__ Press release announcing annual earnings M5-4 NUTBOY THEATER COMPANY Income Statement For the Year Ended December 31, 2010 Revenues: Ticket Sales $ 50,000 Concession Sales 2,500 Total Sales Revenues 52,500 Operating Expenses: Salaries and Wage Expense 30,000 Advertising Expense 8,000 Utilities Expense 7,000 Total Operating Expenses 45,000 Income from Operations 7,500 Other Revenue (Expense): Interest Revenue 200 Other Revenue 50 Income before Income Tax Expense 7,750 Income Tax Expense 2,500 Net Income $ 5,250 Net Profit Margin = Net Income / Total Sales Revenues = $5,250 / $52,500 = 10% Nutboy produced more net income per dollar of sales (ten cents) than in the previous year (8 cents).
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
M5-5 WER PRODUCTIONS Statement of Stockholders’ Equity For the Year Ended December 31, 2009 Contributed Capital Retained Earnings Balances at December 31, 2008 $ 100,000
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/23/2011 for the course BUSINESS 20 taught by Professor Samuelson during the Spring '11 term at UC Riverside.

Page1 / 3

20 Lecture 4b-ch. 5 - Solutions to exercises in lecture:...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online