48% \"-Sun History Bookmarks Window Help Bing Yahoo WebAssign Noc Cret Card 3 In

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48% "-Sun History Bookmarks Window Help Bing Yahoo WebAssign Noc Cret Card 3 Income Statement Help Save& ExitSubmit 3 Income Statement 1. For each of the following items in Old Time Cable, Inc' s financial statements, Indicate (O whether it is reported in the income revenue, or expense account. The statement (VS) or balance sheet BS) and (2 whether " is an asset 1ablity, Stockholders' equity, first item is given as an example 2. Old Time Cable also reported $4,340 in operating expenses. Based on the Based on the available information, determine the company's net profit margin expressed as a percent Complete this question by entering your answers in the tabs below. Required 1 Required 2 Based on the available information, determine the company's net Oild Time Cable also reported $4,340 in operating expenses. prott margin expressed as a percent. (Round your answer to 1 decimal place.) Prev lofslll Next > 3 5 6 8 0

Explanation / Answer

Answer

Account

Amount

Answers

0

Cash

$                  880.00

Balance Sheet

Asset

1

Service Revenue

$               5,500.00

Income Statement

Revenue

2

Accounts receivables

$                  900.00

Balance Sheet

Asset

3

Interest Expense

$                  380.00

Income Statement

Expense

4

Deferred Revenue

$                  200.00

Balance Sheet

Liability

5

Income Tax Expense

$                  250.00

Income Statement

Expense

6

Retained Earnings

$                  120.00

Balance Sheet

Stockholder's Equity

Income Statement

A

Service Revenue

$               5,500.00

Expenses:

B

Operating Expenses

$               4,340.00

C

Interest Expense

$                  380.00

D

Income Tax Expense

$                  250.00

E = B+C+D

Total Expense

$               4,970.00

F = A - E

Net Income

$                  530.00

G = (F/A) x 100

Net Profit Margin

9.6%

Account

Amount

Answers

0

Cash

$                  880.00

Balance Sheet

Asset

1

Service Revenue

$               5,500.00

Income Statement

Revenue

2

Accounts receivables

$                  900.00

Balance Sheet

Asset

3

Interest Expense

$                  380.00

Income Statement

Expense

4

Deferred Revenue

$                  200.00

Balance Sheet

Liability

5

Income Tax Expense

$                  250.00

Income Statement

Expense

6

Retained Earnings

$                  120.00

Balance Sheet

Stockholder's Equity

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