Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Shown below is summarized data for a company for the year end December 31.
Sales of merchandise for cash
$58,250
Sales of merchandise on credit
10,000
Cost of goods sold
36,500
Selling expense
11,800
Administrative expenses
5,000
Sales returns and allowances
2,000
Items not included in the above amounts:
Estimated bad debt loss, 2% of credit sales
Average income tax rate, 20%
Number of shares of common stock outstanding, 2,000
Based on the data, prepare an income statement that shows both gross profit and income from operations. Include the earnings per share. Calculate and interpret the meaning of the gross profit percentage ratio.
What is amount of depreciation for the second full year, during which the machine was used 5,000 hours?
What was the relation between unit sales and unit production levels in each year? For each year, indicate whether inventories grew or shrank.
Nadal declared and paid a cash dividend of $36,000. On December 31, Nadal reported a net income of $85,000 for the year. Create all necessary journal entries in 2010 for both situations.
Create the required general journal entry to record the subsequent transactions for the Flaherty Company incurred $95,000 of factory labor costs which is paid in cash.
1.lets take that we also produce the plastic bottles for containing the water. would the production of plastic bottles
Prepare an adjusted trial balance, prepare an income statement for year ended 2013 and a balance sheet as of December 31, 2013 - Prepare and post closing entries.
flexible budgeted income statement using variable costing.downes consolidated industries international uses a standard
Determine the variable cost per order shipped and determine the fixed shipping costs per quarter.
question national shops inc. reported the subsequent amounts on its balance sheet as of 31st december
On July 1 of the current year, the unrestricted partnership interest (fair market value of $25,000) was transferred to Katie. How should Katie treat the receipt of the partnership interest in the current year?
question 1. which statement is false?a. stock basis may not go below zerob. aaa may not go below zeroc.losses are
On December 31, 2014, Faital Company acquired a computer from Plato Corporation by issuing a $640,800 zero-interest-bearing note, payable in full on December 31, 2018. Faital Company's credit rating permits it to borrow funds from its several line..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd