Solution-Prepare a complete multiple-step income statement

Prepare a complete multiple-step income statement

Assignment Help Cost Accounting

Reference no: EM13546349

Preparing a Multiple-Step Income Statement - The following data were taken from the records of Township Corporation at December 31, 2012:

Sales revenue	$79,000
Gross profit	28,000
Selling (distribution) expense	7,000
Administrative expense	?
Pretax income	13,000
Income tax rate	35%
Shares of stock outstanding	3,500

Required:

Prepare a complete multiple-step income statement for the company (showing both gross profit and income from operations). Show all computations. ( Hint: Set up the side captions or rows starting with sales revenue and ending with earnings per share; rely on the amounts and percentages given to infer missing values.)

Reference no: EM13546349

Questions Cloud

Write a c program generates a ordered sequence of random num : Write a C program Gen.c that generates a ordered sequence of 20 random numbers within a range of 1000 to 9999. The program is invoked by a command line % gen datfile1

What was the angular velocity of the shoulder joint : A .8 meter tennis racket is swung by a player with an arm length of .7m. what was the angular velocity of the shoulder joint

What is the projected npv for the investment : Calculate the projects annual free cash flow (FCF) for each of the next five years, where the firms tax rate is 35% - What is the projected NPV for the investment?

What is the induced emf during this interval : A coil with a self inductance of .75 mH experiences a constant current build up fro zero to 5.0A in .125s. what is the induced emf during this interval

Prepare a complete multiple-step income statement : Prepare a complete multiple-step income statement for the company (showing both gross profit and income from operations). Show all computations.

What emf is induced across the ends of the wire : A.2m wire is moved perpendicular to a.5magnetic field at a speed of 1.5m/s. what emf is induced across the ends of the wire

What is the speed and direction of stone : A curling stone with a mass of 7 kg moves across the ice at a speed of 1.35 m/s in the positive x direction. What is the speed and direction of stone 2 after the collision

What was over- or under-applied manufacturing overhead : What was over- or under-applied manufacturing overhead in May -

Find the speed and kinetic energy of the connected cars : Two Train cars are on a smooth level track. Car 1 has an initial mass of 10,000 kg and an initial speed of 18 m/s. what is the speed and kinetic energy of the connected cars after the collision

User Account

All Pages

Prepare a complete multiple-step income statement

Reference no: EM13546349

Reference no: EM13546349

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT