How do prepare multiple-step income statement in good form

Assignment Help Accounting Basics
Reference no: EM132808007

Appier Corporation had the information listed below available in preparing an income statement for the year ended December 31, 2021. All amounts are before income taxes. Assume a 30% income tax rate for all items

Sales 950,000$
Profits from operation of discount cement division 130,000$
Loss from disposal of cement division (90,000$)
Operating expenses 215,000$
Rent revenue 85,000
Cost of goods sold 250,000

Instructions

Problem 1: Prepare multiple-step income statement in good form.

Reference no: EM132808007

Questions Cloud

What is the restaurant weighted average cost of capital : What is the restaurant's weighted average cost of capital? You have been asked by an investor to value a restaurant using discounted cash flow valuation
What options does audit firm have in the situation : What options does your audit firm have in this situation and what course of action would you take? Assume you are the audit manager on an audit engagement
Determine an individual personality : 1. Discuss the various factors that determine an individual's personality.
What the cost of equity are closest to : The debt/equity ratio (measured in market values) is 1.5, and the after-tax cost of debt are 4.0%. Therefore the cost of equity are closest to
How do prepare multiple-step income statement in good form : Prepare multiple-step income statement in good form. All amounts are before income taxes. Assume a 30% income tax rate for all items
What is the amount of labor cost charged to overhead : Kim worked a total of 186 hours for month of June. Overtime was due to company's production inefficiency. What is the amount of labor cost charged to Overhead?
Create a bibliography using the word references : Read the information on this site which is the Evaluating Sources, Evaluating Websites section of the PGCC Library Research Tutorial. Look at your sources
What should the company establish as sales price per unit : What should the company establish as the sales price per unit if it sets a target of earning an operating income of Sh.400, 000 by producing
Research on ethical issues and emerging technologies : Research information about your careers of interest, ethical issues, and emerging technologies - Read about evaluating website on the PGCC Library web site.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd