Reference no: EM13158130
The accountant of Whitney Houston Shoe Co. has compiled the following information from the company's records as a basis for an income statement for the year ended December 31, 2007.
Rental revenue $ 29,000
Interest on notes payable 18,000
Market appreciation on land above cost 31,000
Wages and salaries-sales 114,800
Materials and supplies-sales 17,600
Income tax 37,400
Wages and salaries-administrative 135,900
Other administrative expenses 51,700
Cost of goods sold 496,000
Net sales 980,000
Depreciation on plant assets (70% selling, 30% administrative) 65,000
Cash dividends declared 16,000
There were 20,000 shares of common stock outstanding during the year.
nstructions:
(a) Prepare a multiple-step income statement.
(b) Prepare a single-step income statement.
(c) Which format do you prefer? Discuss.
|
Which cell structures in the algae would vital to disposal
: Alyssa was an atmospheric scientist concerned that the earth's climate may be warming due to excessive carbon dioxide accumulation. She was exploring ways to reduce carbon dioxide levels by stimulating the growth of algae and other organisms.
|
|
How much will the ph change
: A beaker with 1.70×102 mL of an acetic acid buffer with a pH of 5.000 is sitting on a benchtop. The total molarity of acid and conjugate base in this buffer is 0.100 M. A student adds 6.20 mL of a 0.490 it M HCl solution to the beaker. How much wi..
|
|
What cell structures had contracted
: Emily noticed that her house plants were wilting badly. Most likely what cell structures had contracted?
|
|
Pre-disaster mitigation program
: Should mitigation funding from the federal government be tied to individual disaster like it is with the Hazard Mitigation Grant Program, or should it be independent of disasters altogether like with the Pre-Disaster Mitigation Program?
|
|
Prepare a multiple-step income statement
: The accountant of Whitney Houston Shoe Co. has compiled the following information from the company's records as a basis for an income statement for the year ended December 31, 2007. Prepare a multiple-step income statement.
|
|
Artistic achievements of the hellenistic period
: Compare and contrast the artistic achievements of the Hellenistic period with those of the classical age. How were they different?
|
|
Human-made versus a natural disaster
: In your estimation, what are some of the challenges to an effective EOC during an actual crisis? Are the challenges similar or different during a human-made versus a natural disaster?
|
|
Determine henry recognized gain
: Henry transfers property with an adjusted basis of $90,000 and a FMV of $100,000 to a newly-formed corporation in a Sec. 351 exchange. Henry receives stock with a FMV of $80,000 and a short-term note with a $20,000 FMV. Henry's recognized gain is ..
|
|
Alcualte the hardness of the water in ppm
: 5.00 mL of water sample was titrated for hardness with 4.15mL of 0.0200M EDTA. write the equastion for the reaction and calcualte the hardness of the water in ppm
|