subject
Business, 05.05.2020 16:46 emilyproce

Noventis Corporation prepared the following estimates for the four quarters of the current year:
First Quarter Second Quarter Third Quarter Fourth Quarter
Sales $ 1,350,000 $ 1,620,000 $ 1,890,000 $ 2,160,000
Cost of goods sold 435,000 515,000 585,000 635,000
Administrative costs 320,000 190,000 195,000 205,000
Advertising costs 0 120,000 0 0
Executive bonuses 0 0 0 80,000
Provision for bad debts 0 0 0 66,000
Annual maintenance costs 74,000 0 0 0
Additional Information:
i. First-quarter administrative costs include the $170,000 annual insurance premium.
ii. Advertising costs paid in the second quarter relate to television advertisements that will be broadcast throughout the entire year.
iii. No special items affect income during the yealr.
iv. Noventis estimates an effective income tax rate for the year of 40 percent.
Required:
a) Assuming that actual results do not vary from the estimates provided, determine the amount of net income to be reported each quarter of the current year.
b) Assume that actual results do not vary from the estimates provided except for that in the third quarter, the estimated annual effective income tax rate is revised downward to 38 percent. Determine the amount of net income to be reported each quarter of the current year.

ansver
Answers: 3

Other questions on the subject: Business

image
Business, 21.06.2019 22:00, jayzeptor
How would you cite different books by the same author on the works cited page? a. moore, jack h. folk songs and ballads. salem: poetry press, 1999. print. moore, jack h. ballads in poetry – a critical review. dallas: garden books, 1962. print. b. moore, jack h. folk songs and ballads. salem: poetry press, 1999. print. –––. ballads in poetry – a critical review. dallas: garden books, 1962. print. c. moore, jack h. ballads in poetry – a critical review. dallas: garden books, 1962. print. moore, jack h. folk songs and ballads. salem: poetry press, 1999. print. d. moore, jack h. ballads in poetry – a critical review. dallas: garden books, 1962. print. –––. folk songs and ballads. salem: poetry press, 1999. print.
Answers: 1
image
Business, 22.06.2019 13:40, madisonrparks
Horace society is planning its annual western fair raceway gala. the gala committee has assembled the following expected costs for the event: dinner (per person) $10 gaming token and program (per person) $2 prize payouts $4,300 tickets and advertising $800 private box suite rental $1,700 lottery licenses $200 the committee members would like to charge $40 per person for the evening’s activities. required: 1. what is the break-even point for the dinner-dance (in terms of the number of persons who must attend)? 2. assume that last year only 200 persons attended the dinner-dance. if the same number attend this year, what price per ticket must be charged in order to break even? 3. refer to the original data ($40 ticket price per person). prepare a cvp graph for the dinner- dance from zero tickets up to 600 tickets sold.
Answers: 2
image
Business, 22.06.2019 18:50, gabelawson6996
Dominic is the founder of an innovative "impromptu catering" business that provides elegant, healthy party food and decorations on less than 24 hours' notice. the company has grown by over 150 percent in the past year. dominic credits some of the company's success to studying the strategies of prominent social entrepreneurs, such as wikipedia's jimmy wales. what can dominic do to exemplify the social entrepreneurship model?
Answers: 2
image
Business, 23.06.2019 02:30, rosier2230
Astudent finds data on an internet site that contains financial information about selected companies. he plans to analyze the data and use the results to develop a stock investment strategy. what kind of data source is he using? what concerns might you have about drawing conclusions from this data set?
Answers: 1
You know the right answer?
Noventis Corporation prepared the following estimates for the four quarters of the current year:

Questions in other subjects:

Konu
Mathematics, 11.09.2020 08:01
Konu
Mathematics, 11.09.2020 08:01
Konu
Chemistry, 11.09.2020 08:01
Konu
Social Studies, 11.09.2020 08:01
Konu
Mathematics, 11.09.2020 08:01
Konu
Mathematics, 11.09.2020 08:01
Konu
History, 11.09.2020 08:01
Konu
Mathematics, 11.09.2020 08:01
Konu
Chemistry, 11.09.2020 08:01
Konu
Mathematics, 11.09.2020 08:01