Business Finance
Calculation and financial statement analysis

Fin4478

Troy

Question Description

I need to fill the table, and complete the 2.jpg's prepare.

The table need to caculate, and then do the financial statement analysis.

Calculation and financial statement analysis
.jpg
Calculation and financial statement analysis
.jpg
Calculation and financial statement analysis
.jpg
Calculation and financial statement analysis
.jpg
Calculation and financial statement analysis
table.jpg

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Final Answer

Hello, kindly attached find detailed income statements, forecast of collections from accounts receivables, summary cash statement and estimated balances sheets showing financial position of the company in Quarter 2 and Quarter 3.Kindly, in case you need more clarification on the figures contact me to help.I will also attach a comparative financial analysis(Question e) involving these statements.Please contact me for more information.
Attached.

(a)

Estimated Income statements for 2nd and 3rd Quarters
EASY-TURN TOY COMPANY
Quarter ended June 30, 1985
$
Revenue
Gross billing (120,000 units at $3)
Less: Provosions for uncollectible acc
Discount taken by customers

7,200.00
2,160.00

Revenue from operations
Expenses:
Factory cost of goods (170,000 units produced)
Material appropriated to production
Direct Labour costs incurred
Factory Overhead
Variable costs:
Indirect Labour
Power
Supplies, Miscellaneous
Fixed costs:
Supervision
Property taxes
Depreciation
Insurance
Miscellaneous
Total factory costs incurred
Less: Unsold inventory of finished goods
Factory costs of goods sold
Selling Expenses (Which vary proportionately with sales)
Administration costs and expenses (fixed)
Total Expenses
Net Margin from operations
Interest
Earnings before taxes
Income taxes
Net Profits

18,333.00
4,400.00
5,500.00
5,000.00
3,000.00
2,500.00
250.00
2,250.00

EASY-TURN TOY COMPANY
Quarter ended September 30, 1985
$
Revenue

Gross billing (180,000 units at $3)
Less: Provosions for uncollectible acc
Discount taken by customers

10,800.00
3,240.00

Revenue from operations
Expenses:
Factory cost of goods (240,000 units produced)
Material appropriated to production
Direct Labour costs incurred
Factory Overhead
Variable costs:
Indirect Labour
Power
Supplies, Miscellaneous
Fixed costs:
Supervision
Property taxes
Depreciation
Insurance
Miscellaneous
Total factory costs incurred
Less: Unsold inventory of finished goods
Factory costs of goods sold
Selling Expenses (Which vary proportionately with sales)
Administration costs and expenses (fixed)
Total Expenses
Net Margin from operations
Interest
Earnings before taxes
Income taxes
Net Profits

1
2
3
4
5
6
7
8

Notes
Provisions for Uncollectible account =2% of sales
Discount Taken by customers = 0.6% of sales
Factory cost of goods = Production Units x $1
All expenses except power and property taxes = 1st Q X 83.333%
Power = 100% of 1st Quarter
Property Taxes = 3000 after every 3 months
Interest = 6% x 20,000 x12/3
Income Taxes =50% of Earning s before taxes

18,333.00
4,400.00
5,500.00
5,000.00
3,000.00
2,500.00
250.00
2,250.00

$

$

360,000.00
(9,360.00)
350,640.00

170,000.00
119,000.00

28,233.00

13,000.00
330,233.00
63,000.00
267,233.00
60,000.00
12,000.00
339,233.00
11,407.00
300.00
11,107.00
5,553.50
5,553.50

$

$

540,000.00
(14,040.00)
525,960.00

240,000.00
168,000.00

28,233.00

13,000.00
449,233.00
63,000.00
386,233.00
60,000.00
12,000.00
458,233.00
67,727.00
300.00
67,427.00
33,713.50
33,713.50


(a)

Estimated Income statements for 2nd and 3rd Quarters
EASY-TURN TOY COMPANY
Quarter ended June 30, 1985
$
Revenue
Gross billing (120,000 units at $3)
Less: Provosions for uncollectible acc
Discount taken by customers

7,200.00
2,160.00

Revenue from operations
Expenses:
Factory cost of goods (170,000 units produced)
Material appropriated to production
Direct Labour costs incurred
Factory Overhead
Variable costs:
Indirect Labour
Power
Supplies, Miscellaneous
Fixed costs:
Supervision
Property taxes
Depreciation
Insurance
Miscellaneous
Total factory costs incurred
Less: Unsold inventory of finished goods
Factory costs of goods sold
Selling Expenses (Which vary proportionately with sales)
Administration costs and expenses (fixed)
Total Expenses
Net Margin from operations
Interest
Earnings before taxes
Income taxes
Net Profits

18,333.00
4,400.00
5,500.00
5,000.00
3,000.00
2,500.00
250.00
2,250.00

EASY-TURN TOY COMPANY
Quarter ended September 30, 1985
$
Revenue

Gross billing (180,000 units at $3)
Less: Provosions for uncollectible acc
Discount taken by customers

10,800.00
3,240.00

Revenue from operations
Expenses:
Factory cost of goo...

paulmarieke8 (136)
University of Virginia

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