About what percentage of young children spend some amount of time with non-parental caregivers?

Problem 4-6 (Algo) Income statement presentation; Discontinued operations; EPS [LO4-1, 4-3, 4-4, 4-5] Rembrandt Paint Company ha

Masja [62]

Answer and Explanation:

The preparation of the multiple-step income statement is presented below:

Rembrandt Paint Company

Income Statement

For the Year Ended December 31, 2021

Sales revenue $24,000

Less: Cost of goods sold -$13,500

Gross profit $10,500

Less:

Operating expenses

Selling and administrative -$3,100

Restructuring costs -$1,400

Operating Income $6,000

Add: Interest revenue $220

Less: Interest expense -$420

Income from Continuing operations before income tax expense and extra ordinary item $5,800

Less: Income tax expense (25%) -$1,450

Income from Continuing operations before extraordinary item $4,350

Discontinued Operations

Income from operations of discontinued components ($3,200 - $2,200) $1,000

Less: Income tax expense (25%) $250

Income from Discontinued operations $750

Income before extraordinary items $5,100

Extraordinary item $0

Net Income $5,100

Earning per share

Income from Continuing operations before extraordinary item ($4,350 ÷ 600 shares) $7.25

Income from Discontinued operations ($750 ÷ 600 shares) $1.25

Extraordinary item 0

Net Income $8.50

We simply deduct all types of expenses and added all types of incomes

3 0

3 years ago

A company facing a simple environment would ____.

adoni [48]

<span>A company facing a simple environment would not thrive. A simple environment would not pose any competition at all for the employees to step up their game and bring out the best in them. Competition is not part of a simple environment but on a complex level.</span>

7 0

3 years ago

(b) The following expenditures relating to plant assets were made by Prather Company during the first 2 months of 2020. Opposite

densk [106]

Answer:

Please see explanation below

Explanation:

1. Paid $5,000 of accrued taxes at time plant site was acquired. - Debit accrued taxes account $5000, credit cash expenses account $5000.

2. Paid $200 insurance to cover possible accident loss on new factory machinery while the machinery was in transit. - Debit freight and insurance in transit $200, credit cash expenses $200.

3. Paid $850 sales taxes on new delivery truck. - Debit sales tax $850, credit expenses $850.

4. Paid $17,500 for parking lots and driveways on new plant site. - Debit land improvements $17,500, credit cash expenses $17,500.

5. Paid $250 to have company name and advertising slogan painted on new delivery truck. - Debit advertisement $250, credit cash expenses $250.

6. Paid $8,000 for installation of new factory machinery. - debit installation costs (under plants and machinery $8000.

7. Paid $900 for one-year accident insurance policy on new delivery truck. - Debit insurance $900, credit cash expenses $900.

8. Paid $75 motor vehicle license fee on the new truck. - Debit licensing fees $75, credit cash expenses $75.

6 0

3 years ago

Read 2 more answers

What are you primarily doing when you reconcile your checking account?

wlad13 [49]

I believe the answer is: B. Making sure that your records match your bank’s records.

During this process, it is very common to see some difference between your records and the bank's. This could be caused by occurrence such as outstanding check, mistakes during recording, insufficient funds, etc. In order to fix this, you need to make an adjustment to find out why the difference occurs.

7 0

3 years ago

Read 2 more answers

A community researcher wanted to explore the connection between the number of bathrooms in a house and the sale price of the hou

slava [35]

Answer:

A house's average sale price went up by $47,000 for each full bath.

Explanation:

A descriptive statistic describes the result of an study using quantitative terms. While a logical inferential statistic makes feasible predictions using the data described by the descriptive statistic.

For example, a study showed that 70% of men prefer to go to work in the morning (descriptive statistic). The study showed that men are more likely to search for jobs in the morning shift (logical inferential statistic).

5 0

3 years ago