Prepare a multiple step income statement for year ending

Assignment Help Accounting Basics
Reference no: EM131988596

Question - Walmart data below, prepare, in good form, a Multiple Step Income Statement for year ending December 31, 2012.

Data:

Cost of Goods Sold

335,127,000

Depreciation Expense

10,265,000

Extraordinary loss

50,000

Income from operating discontinued clothing line

100,000

Insurance Expense

10,000,000

Interest Expense

2,322,000

Loss from Effects of Strike

62,000

Loss on disposal of discontinued clothing line

167,000

Rent Expense

15,000,000

Salaries Expense

50,000,000

Sale of Equipment

224,000

Sales

446,950,000

The company has a tax rate of 30%.

The company did not pay any preferred dividends

The company is NOT in the business of selling equipment.

The company has 3,500,000 shares of common stock outstanding.

Reference no: EM131988596

Questions Cloud

Top of us intelligence reports for the first time : Chapter 5 of the course textbook states: "In 2013, cyberthreats were at the top of US intelligence reports for the first time. Cyberthreats are now the number
Describe music using musical terms like melody harmony etc : Describe the music, using musical terms like melody, harmony, etc. as best you can. Give me your opinion, even if it's mixed.
What would you do to make your team members : Find some examples of each type of motivator, and which is more powerful for leaders to use?
Analyze the repayment of the debt : Analyze the repayment of the debt by using the four (4) standard repayment plans for the book up cone.
Prepare a multiple step income statement for year ending : Walmart data below, prepare, in good form, a Multiple Step Income Statement for year ending December 31, 2012
Current issues previous next : Current Issues Previous Next You are an athletic administrator for a local university. Your head football coach and football
What is her monthly payment : If Jamie starts her first payment at the end of 13th month and makes 60 payments to pay the loan, what is her monthly payment?
Competitive strength assessment reveal about amazon : What does a competitive strength assessment reveal about Amazon 's e-commerce business, as compared to the leader's in the retail industry?
Prepare a type-written essay of five paragraphs : Prepare a type-written essay of five paragraphs to the following statement: In some countries ruled by dictators, poetry and other forms of creative expression.

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