Park and West, LLC, provides consulting services to retail merchandisers in the Midwest. In 2019, they generated $716,000 in service revenue. Their total cost (fixed and variable) per client was $2,700 and they served 125 clients during the year. If operating expenses for the year were $304,000 what was their net income? Park and West, LLC Income Statement For Year Ending 2019 $fill in the blank 2 fill in the blank 4 $fill in the blank 6 fill in the blank 8 $fill in the blank 10

Park and West, LLC, provides consulting services to retail merchandisers in the Midwest. In 2019, they generated $716,000 in service revenue. Their total cost (fixed and variable) per client was $2,700 and they served 125 clients during the year. If operating expenses for the year were $304,000 what was their net income? Park and West, LLC Income Statement For Year Ending 2019 $fill in the blank 2 fill in the blank 4 $fill in the blank 6 fill in the blank 8 $fill in the blank 10

Name: Park and West, LLC, provides consulting services to retail merchandise
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: Park and West, LLC, provides consulting services to retail merchandisers in the Midwest. In 2019, they generated $716,000 in service revenue. Their total cost (fixed and variable) per client was $2,700 and they served 125 clients during the year. If

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 2EA: Park and West, LLC, provides consulting services to retail merchandisers in the Midwest. In 2019,...

See similar textbooks

Similar questions

MENA Corp., registered with BIR in 2019, has the following data for the year 2021: Gross Sales 1,000,000 PWD & SC Discounts given 100,000 Returns and allowance 150,000 Cost of Goods Sold 300,000 Salaries to personnel 250,000 Q2: How much is the gross income? Answer: Pls include solution. Thanks.
2. Park and West, LLC, provides consulting services to retail merchandisers in the Midwest. In 2019, they generated $720,000 in service revenue. Their total cost (fixed and variable) per client was $2,500 and they served 115 clients during the year. If operating expenses for the year were $302,000 what was their operating income? Use this information to construct an income statement for the year 2019. Operating Income Cash Retained Earnings Gross Profit Cost of Goods Sold Service Revenue Cost of Services Operating Expenses Sales Revenue PLEASE NOTE: You must enter the account names exactly as written above and all whole dollar amounts will be with "$" and commas as needed (i.e. $12,345). Park and West, LLC Income Statement for Year Ended 2019
May I ask for an explanation and solution to the question for a better understanding. Thank you! 18. The following data for the years ended December 31, 2019 and 2020 were presented to the management Zigzag Company: 2020 = Net sales: 1,363,000, Cost of Sales: 911,800, Gross Profit: 451,200; 2019 = Net Sales: 1,250,000, Cost of Sales: 776,000, Gross Profit: 474,000. The management requested you to determine the cause of the decline in gross profit on sales in spite of the favorable information given by the sales division that the quantity sold in 2020 was higher than in 2019 and that the production costs in 2020 were lower than that of 2019 by 6%. The increase (decrease) in net sales due to cost factor is: a. (P135,800) b. P135,800 c. (P58,200) d. P58,200
May I ask for an explanation and solution to the question for a better understanding. Thank you! 17. The following data for the years ended December 31, 2019 and 2020 were presented to the management Zigzag Company: 2020 = Net sales: 1,363,000, Cost of Sales: 911,800, Gross Profit: 451,200; 2019 = Net Sales: 1,250,000, Cost of Sales: 776,000, Gross Profit: 474,000. The management requested you to determine the cause of the decline in gross profit on sales in spite of the favorable information given by the sales division that the quantity sold in 2020 was higher than in 2019 and that the production costs in 2020 were lower than that of 2019 by 6%. The increase (decrease) in net sales due to price factor is: a. (P113,000) b. P113,000 c. (P199,500) d. P199,500
You have the following information about Al- Farah Company: 2020: Net Sales 11,396.9, Gross profit 6,205.0 Selling expenses 3,920.8, Administrative expenses 69.2, interest expenses 136.0, income tax 727.6 2019: Net Sales 10,584.2, Cost of Goods Sold 4,747.2, Selling expenses? Administrative expenses 90.3, Income from operation 2122.1, interest expenses 119.7, and income tax 675.3 Required: prepare an income statement and conduct a horizontal analysis Sol: A worksheet for the compared income statement For the period ending 12/31/2020 2020 2019 Variances % Net Sales Cost of Goods Sold Gross profit Operating Expenses:- uan Selling expenses Administrative expenses Total Operating Expenses Income from operation Other expenses and losses:- Interest expenses Income before income tax Income tax Net income
May I ask for an explanation and solution to the question for a better understanding. Thank you! 15. The following data for the years ended December 31, 2019 and 2020 were presented to the management Zigzag Company: 2020 = Net sales: 1,363,000, Cost of Sales: 911,800, Gross Profit: 451,200; 2019 = Net Sales: 1,250,000, Cost of Sales: 776,000, Gross Profit: 474,000. The management requested you to determine the cause of the decline in gross profit on sales in spite of the favorable information given by the sales division that the quantity sold in 2020 was higher than in 2019 and that the production costs in 2020 were lower than that of 2019 by 6%. The percent change in volume is: a. 17.50% b. 14.00% c. 25.00% d. 20.00%
A. Zienna Inc. is concerned about the level of its advertising and office salaries expense. Selected statement of Comprehensive income data from 2018 to 2020 appear below. 2020 2019 2018 Sales 140,000.00 60,000.00 37,500.00 Gross Profit 89,600.00 37,200.00 22,500.00 Advertising Expense 7,000.00 3,300.00 2,250.00 Office Salaries Expense Profit 22,400.00 9.000.00 4,500.00 30,800.00 13,800.00 9,000.00 Required: Calculate trend percentage for sales, advertising expense and office salaries expense. Use 2018 as the base year. Round off to the nearest percent.
Shelcal, Inc. provides the following data for the year 2019: Net Sales Revenue, $437,690; Cost of Goods Sold, $255,000. O The gross profit as a percentage of net sales is (Round your answer to two decimal places.) OA) 37.96% OB) 39.80% OC) 60.20% OD) 40.8%
BCD Company had sales Revenue of $500,000 for the year 2019. Its cost of goods sold was $240,000, and its operating expenses were $50,000, and administrative expenses $ 25,000. Interest revenue for the year is $5,000 of which $2000 is unearned and interest expense was $12,000. BCD’s income tax rate is 25%. Required: Prepare a classified multiple-step income statement for the year for BCD Company.
ABC Company has the following information for the year ended December 31, 2022: Sales revenue: $1,500,000 Cost of goods sold: $800,000 Operating expenses: $300,000 Interest expense: $50,000 Income tax rate: 30% Calculate the net income for ABC Company for the year ended December 31, 2022.
The following information pertains to Redping Corporation for the year ended December 31, 2020.Sales to unaffiliated customers $2,000,000Inter-segment sales of products similar tothose sold to unaffiliated customers 600,000All of Redping’s segments are engaged solely in manufacturing operations. Redping has a reportablesegment if that segment’s revenue exceeds ____________________.A. $264,000B. $260,000C. $204,000D. $200,000
Raymond, Inc. a manufacturer of piping for the plumbing industry, had the following financial performance for the last two years as shown on their income statements below: Raymond, Inc. Comparative Income Statement For the Years Ended December 31, 2021 and 2020 2021 2020 Amount Amount Sales $910,000 $700,000 Cost of goods sold 475,000 350,000 Gross profit 435,000 350,000 Selling expenses 146,500 115,000 Administrative expenses 99,500 85,000 Total operating expenses 246,000 200,000 Income from operations 189,000 150,000 Other income 65,000 50,000 Income before income tax 254,000 200,000 Income tax expense 63,000 50,000 Net income $191,000 $150,000 1. Prepare a horizontal analysis using the form provided to the right.…

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

SEE MORE TEXTBOOKS

GET THE APP

About FAQ Academic Integrity Sitemap Document Sitemap

Contact Bartleby Contact Research (Essays)High School Textbooks Literature Guides Concept Explainers by Subject Essay Help Mobile App

GET THE APP

Privacy

Your CA Privacy Rights

Your NV Privacy Rights

About Ads

Manage My Data

bartleby, a Learneo, Inc. business

Park and West, LLC
Income Statement
For Year Ending 2019
	$fill in the blank 2
	fill in the blank 4
	$fill in the blank 6
	fill in the blank 8
	$fill in the blank 10