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Pepsi [2]
1 year ago
8

check my workcheck my work button is now enableditem 1 north trails cinema, incorporated, operates movies and food concession co

unters throughout the united states. its income statement for the quarter ended june 30, 2019, reported the following (accounts are listed alphabetically in thousands): admissions revenue $ 490,100 concessions expenses 39,700 concessions revenue 311,500 film rental expenses 255,850 income tax expense 41,600 office expenses 255,400 rent expense 85,800 salaries and wages expense 74,000 net income (loss) ? required: solve for the missing amount by preparing an income statement for the quarter ended june 30, 2019. (enter your answers in thousands.)
Business
1 answer:
UNO [17]1 year ago
7 0

The Net Income for the quarter is give as: $90,850. See the attached for more explanation.

<h3>What is an Income Statement?</h3>

An income statement summarizes a company's sales, costs, and profitability over time. It is sometimes referred to as a profit-and-loss (P&L) or earnings statement.

It displays your revenue from the sale of goods or services expenditures to produce income and run your company

It is important to note that when there is a short fall between expense and income, it is referred to as Net Loss. The net financial position is derived by removing the sum of all expenses from the sum of all income streams.

The three main parts of an income statement is:

  • Revenue
  • Expenses; and
  • Profit.

Learn more about Net Income:
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The measures used by an organization to provide reasonable assurance that the organization produces reliable financial reports,
const2013 [10]

Answer:

The correct answer is letter "A": The internal control structure.

Explanation:

The internal control structure of a company encompasses the firm's organizational objectives in regards to ensuring policies and federal laws, accurate operating information and accounting records, protecting the company's from threats, and measuring employees' performance to help them improve their efficiency.

6 0
3 years ago
Which of the following is NOT a special power if the senate?
AnnZ [28]
D. Appointments to the Supreme Court must be apptoved in the Senate.

not sure though
6 0
3 years ago
On January 1, 2018, Baddour, Inc., issued 10% bonds with a face amount of $168 million. The bonds were priced at $147.2 million
bagirrra123 [75]

Answer:

(A)Balance sheet

Bonds at September 30th

Bonds Payable      168,000,000

Discount on Bonds  (20,152,000)

Interest Payable       12,600,000

Net                          160,448,000

(B) Income Statment

Interest Expense 13,248,000

(C)Cash Flow Statment

Financing

Cash generate for Bonds issued 147,200,000

Explanation:

Jan 1st, 2018 168,000,000 face value

Issed at 147.2M for an effective rate of 12%

Discount of 20.8M

Bonds at September 30th

<em>accrued interest expense:</em> 147,200,000 x 12% x 9/12 = 13,248,000

<em>interest payable: </em>168,000,000 x 10% x 9/12 = 12,600,000

<em>amortization of Discount:</em> 648,000

7 0
3 years ago
Inventory records for Dunbar Incorporated revealed the following: Date Transaction Number of Units Unit Cost Apr. 1 Beginning in
Drupady [299]

Answer:

$816

Explanation:

Calculation for Dunbar Incorporated Ending inventory

Formula for Ending inventory units using FIFO method:

Ending inventory units = Beginning balance + Purchase -sales

Leg plug in the formula

490+410 - 600

= 300units

Calculation for Ending inventory

Ending inventory = 300*2.72

= $816

Therefore the Ending inventory assuming FIFO method is use would be $816

3 0
3 years ago
Mount Company incurred a total cost of $8,600 to produce 400 units of pulp. Each unit of pulp required 5 direct labor hours to c
Sophie [7]

Answer:

The correct answer is option (B).

Explanation:

According to the scenario, the given data are as follows:

Total cost = $8,600

Total units = 400 Units

Direct labor hour per unit = 5

Variable cost = $1.50

So, we can calculate the fixed cost by using following formula:

Fixed cost = Total cost - Total Direct labor cost

Where, Total direct labor cost = $1.50 × 5 × 400 = $3,000

By putting the value in the formula, we get

Fixed cost = $8,600 - $3,000

= $5,600

5 0
3 years ago
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