Accounting questions?

Accounting questions?
According to its website (www.smuckers.com), the J.M. Smucker Company was founded in 1897 when the Company's namesake and founder sold his first product -- apple butter -- from the back of a horse-drawn wagon. Today, over a century later, the Company is the market leader in fruit spreads, peanut butter, shortening and oils, ice cream toppings, and health and natural foods beverages in North America under such icon brands as Smucker?s?, Jif? and Crisco?.

The Report on Business in the Globe and Mail, February 22, 2005 reported the following:

J.M. Smucker Co.?s fiscal third-quarter profit rose 15 per cent, despite charges, as its acquisition last year of International Multifoods boosted sales. The Orrville, Ohio, maker of jams, jellies and preserves reported profit of $36.1-million (U.S.) for the quarter ended Jan. 31. Per-share profit declined 1.6 per cent to 61 cents due to more shares outstanding in the latest quarter. Sales grew 60 per cent to $550.2-million. The units that were acquired from Multifoods contributed $187.6-million to sales.


5. Based on the information given, Smucker?s year-end is most likely
a)February 22
b)January 31
c)December 31
d)April 30
e)None of the above


6. Based on the information given, assuming all amounts were reported in US dollars and that there were no gains or losses, Smucker?s expenses for the reported third-quarter were
a)$550.2-million U.S.
b)$36.1-million U.S.
c)$514.1-million U.S.
d)$187-6-million U.S.
e)None of the above







7. Based on the information given, Smucker?s profit for the second-quarter was
a)approximately $36.1-million U.S.
b)approximately $187.6-million U.S.
c)approximately $31.4-million U.S.
d)approximately $30.7-million U.S.
e)None of the above
when answering the questions please tell me how you came up with the solutions. thx


Answers:

Chosen Answer
Jo:  5. d)April 30

they told u jan 31 is the 3rd quarter so add one more quarter.

6. c)$514.1-million U.S.

sales - expenses = profit.

7. c)approximately $31.4-million U.S.

36.1/115 * 100
2007-10-28 01:11:01