Question

Operating loss (2,353,456) Interest expense 4543 Other (income) expense 0 Net loss 0 Above is a...

Operating loss (2,353,456)
Interest expense 4543
Other (income) expense 0
Net loss 0

Above is a partial income statement. Use the following accounts to determine other (income) expense, then calculate net loss.

Depreciation 12,035.99
Interest Expense 4,543.21
Loss on extinguishment of debt 5,818.00
Non-cash interest 595.00
Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Calculation attached

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Staley Inc. reported the following data: Net income $488,200 Depreciation expense 54,800 Loss on disposal of...
Staley Inc. reported the following data: Net income $488,200 Depreciation expense 54,800 Loss on disposal of equipment 30,900 Increase in accounts receivable 10,800 Increase in accounts payable 11,900 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Staley Inc. Statement of Cash Flows (partial) Cash flows from operating activities: $ Adjustments to reconcile...
Kennedy, Inc. reported the following data: Net income $133,858 Depreciation expense 12,905 Loss on disposal of...
Kennedy, Inc. reported the following data: Net income $133,858 Depreciation expense 12,905 Loss on disposal of equipment 11,445 Gain on sale of building 20,704 Increase in accounts receivable 7,893 Decrease in accounts payable 2,850 Prepare the Cash flows from operating activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash outflows, a decrease in cash, cash payments, or any negative adjustments. Kennedy, Inc. Statement of Cash Flow Cash flows from operating...
Staley Inc. reported the following data: Net income $297,200 Depreciation expense 60,200 Loss on disposal of...
Staley Inc. reported the following data: Net income $297,200 Depreciation expense 60,200 Loss on disposal of equipment 24,500 Increase in accounts receivable 20,500 Increase in accounts payable 10,500 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.
The income statement and a schedule reconciling cash flows from operating activities to net income are...
The income statement and a schedule reconciling cash flows from operating activities to net income are provided below ($ in 000s) for Peach Computers. PEACH COMPUTERS Income Statement For the Year Ended December 31, 2018 Sales $ 530.0 Cost of goods sold (318.0 ) Gross margin 212.0 Salaries expense $ 63.0 Insurance expense 40.0 Depreciation expense 19.0 Loss on sale of land 17.0 139.0 Income before tax 73.0 Income tax expense (36.5 ) Net income $ 36.5 Reconciliation of Net...
The income statement and a schedule reconciling cash flows from operating activities to net income are...
The income statement and a schedule reconciling cash flows from operating activities to net income are provided below ($ in thousands) for Peach Computers. PEACH COMPUTERS Income Statement For the Year Ended December 31, 2018 Sales $ 305 Cost of goods sold (185 ) Gross margin 120 Salaries expense $ 41 Insurance expense 19 Depreciation expense 11 Loss on sale of land 5 76 Income before tax 44 Income tax expense (22 ) Net income $ 22 Reconciliation of Net...
Cash Flows from Operating Activities—Indirect Method Staley Inc. reported the following data: Net income $413,900 Depreciation...
Cash Flows from Operating Activities—Indirect Method Staley Inc. reported the following data: Net income $413,900 Depreciation expense 53,800 Loss on disposal of equipment 28,300 Increase in accounts receivable 27,900 Increase in accounts payable 11,300 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Staley Inc. Statement of Cash Flows (partial) Cash flows from operating...
Kennedy, Inc. reported the following data: Net income$184,581 Depreciation expense16,601 Loss on disposal of equipment(9,387) Gain...
Kennedy, Inc. reported the following data: Net income$184,581 Depreciation expense16,601 Loss on disposal of equipment(9,387) Gain on sale of building19,680 Increase in accounts receivable10,437 Decrease in accounts payable(2,265) Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash outflows, a decrease in cash, cash payments, or any negative adjustments. Kennedy, Inc. Statement of Cash Flow Cash flows from operating activities: Net income $ Adjustments to...
The income statement and a schedule reconciling cash flows from operating activities to net income are...
The income statement and a schedule reconciling cash flows from operating activities to net income are provided below ($ in millions) for Mike Roe Computers. MIKE ROE COMPUTERS Income Statement For the Year Ended December 31, 2018 Sales $ 150.80 Cost of goods sold (90.40 ) Gross margin 60.40 Salaries expense $ 20.80 Insurance expense 12.80 Depreciation expense 5.40 Interest expense 6.40 (45.40 ) Gains and losses: Gain on sale of equipment 12.80 Loss on sale of land (3.80 )...
Cash Flows from Operating Activities—Indirect Method The net income reported on the income statement for the...
Cash Flows from Operating Activities—Indirect Method The net income reported on the income statement for the current year was $135,500. Depreciation recorded on store equipment for the year amounted to $22,400. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $54,060 $49,190 Accounts receivable (net) 38,760 36,350 Merchandise inventory 52,920 55,340 Prepaid expenses 5,950 4,670 Accounts payable (merchandise creditors) 50,650 46,530 Wages...
Total revenue 1600000 Operating expenses (excluding depreciation and amortization shown separately below) $500,000 Selling, general and...
Total revenue 1600000 Operating expenses (excluding depreciation and amortization shown separately below) $500,000 Selling, general and administrative expenses (excluding depreciation and amortization shown separately $199,194 Cost of product sold $960,000 Other net periodic $(4,186) Depreciation & Amortization $90,000 Loss on disposal on asset $2,162 Interest expense net $50,000 Loss on debt extinguishment, net $6,484 Other expense, net $1,000 Income before taxe $300,000 Income taxe expense $70,000 Net Income $45,000 what is the operating income?
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT