4-5 pages Accounting Assignment with Excel doc in 24 hours

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Week 1 Assignment Data

AMcarParts, Inc.

Income Statement For the Year Just Ended

Revenues $ 325,000,000 Operating Expenses Salaries and Wages

$ 175,000,000

Payroll taxes, etc. 70,000,000

Supplies 12,975,000

Delivery Fleet 5,020,000

Communications 525,000

Insurance 1,975,000

Office supplies 195,000

Miscellaneous Operating Income

1,835,000

267,525,000

57,475,000 Other Income/Expense Interest expense Income Before Income Taxes

1,980,000

55,495,000 Provision for Income Taxes Net Income

12,208,900

$ 43,286,100

Notes and Assumptions Change Percentage

1. Revenue is from selling after-market automotive parts. Increase 2%

2. Salaries are gross for all employees. Increase 2%

3. Payroll taxes are 40% of salaries and wages. No Change 0%

4. Supplies include raw materials, hardware, tools, etc. Increase 5%

5. Gas, maintenance, etc are for delivery vehicles. Increase 5%

6. Company communication plan. Increase 2%

7. Insurance is for liability, vehicles, and unemployment. Increase 10%

8. Office supplies include all supplies not associated with manufacturing. Increase 3%

9. Miscellaneous accounts for all other expenses not covered above. Increase 7%

10. Interest expense is for purchase of the delivery fleet. No Change 0%

11. Provision for income taxes is 22% No Change 0%