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2 years ago

What was the 2012 net profit amount if the 2013 pro-forma net profit of $187,000 was based on a 22% increase?

Business

1 answer:

makvit [3.9K]2 years ago

6 0

Answer:

2012 net profit = 100/122 x $187,000

2012 net profit = $153,279

Explanation:

Since the pro-forma net profit for 2013 is $187,000 which increases by 22% over the net profit of 2012, thus, the 2012 net profit is 100/122 of 2013 pro-forma net profit.

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2 years ago

In the company's accounting system all fixed expenses of the company are fully allocated to products. Further investigation has

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Answer:

= $132,000.

Explanation:

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2 years ago

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Answer:

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On January 1, 2021, Avondale Lumber adopted the dollar-value LIFO inventory method. The inventory value for its one inventory po

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Answer:

Avondale Lumber

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Explanation:

a) Data:

Year Ended Inventory year Cost index

December 31 end costs (relative to base year)

2021 $340,000 1.02

2022 350,000 1.06

2023 400,000 1.07

2024 430,000 1.10

b) The inventory at year-end costs is rebased using the cost index that is relative to the base year, by dividing the inventory costs by the cost index.

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2 years ago