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Keith_Richards [23]
2 years ago
10

Tamarisk Corporation had net sales of $2,422,100 and interest revenue of $40,200 during 2020. Expenses for 2020 were cost of goo

ds sold $1,453,500, administrative expenses $220,100, selling expenses $291,900, and interest expense $53,400. Tamarisk’s tax rate is 30%. The corporation had 100,200 shares of common stock authorized and 71,770 shares issued and outstanding during 2020. Prepare a condensed multiple-step income statement for Tamarisk Corporation. (Round earnings per share to 2 decimal places, e.g. 1.48.)

Business
1 answer:
Contact [7]2 years ago
5 0

Answer:

Explanation:

In the income statement, the total revenues and the total expenses are recorded.  

If the total revenues are more than the total expenditure then the company earns net income

And, If the total revenues are less than the total expenditure then the company have a net loss

This net income or net loss would reflect in the statement of the retained earning account.  

The preparation of the income statement is presented in the spreadsheet. Kindly find the attachment below:

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Answer:

Allocated cost:

B7= 0.23*600,000= 138,000

K6= 0.50*600,000= 300,000

X9= 0.27*600,000= 162,000

Explanation:

Giving the following information:

Ferrier Chemical Company makes three products, B7, K6, and X9, which are joint products from the same materials. In a standard batch of 150,000 pounds of raw materials, the company generates 35,000 pounds of B7, 75,000 pounds of K6, and 40,000 pounds of X9. A standard batch costs $600,000 to produce.

weighted average:

B7= 35,000/150,000= 0.23

K6= 75,000/150,000= 0.5

X9= 40,000/150,000= 0.27

Allocated cost:

B7= 0.23*600,000= 138,000

K6= 0.50*600,000= 300,000

X9= 0.27*600,000= 162,000

8 0
2 years ago
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Lerok [7]

Generally the preferred method of making decisions within an organization is the rational model. This model is the preferred method for making decisions but generally it is pretty unrealistic for a company to obtain and adapt into their organization. This model tries to combine rational with structured deicsion aking for the best possible outcome.

4 0
3 years ago
In statistical discrimination,
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Explanation:

Statiscal discrimenation is a preferential treatment of workers based on racial or gender inequality.

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3 years ago
The notes to a recent annual report from Weebok Corporation indicated that the company acquired another company, Sport Shoes, In
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Answer: $230,500

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2 years ago
The impact of Inequality on businesses<br>​
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