1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ra1l [238]
3 years ago
9

Salaries and wages expenses $ 460 Research and development expense $ 114 Depreciation expense 90 Income tax expense 634 Sales re

venue 7,030 Loss on disposal of plant assets 46 Interest expense 161 Cost of goods sold 3,400 Advertising expense 499 Rent expense 105 Sales returns and allowances 230 Utilities expense 60 Assume tax is 35%. Prepare a multiple-step income statement.
Business
1 answer:
guapka [62]3 years ago
7 0

Answer:

$ 1,212 Net INCOME

Explanation:

        Income Statement

$ 7,030 Sales

-$ 230 Sales returns and allowances

$ 6,800 Net Sales Revenues

-$ 90 Depreciation expense

-$ 3,400 Cost of goods sold

$ 3,310 Gross PROFIT

-$ 499 Advertising expense

-$ 114 Research and development expense

-$ 460 Salaries and Wages Expenses

-$ 105 Rent expenses

-$ 60 Utilities Expenses

-$ 1,238 Operating EXPENSES

$ 2,072 Operating INCOME

-$ 46 Loss on disposal of plant assets

-$ 161 Interest Expenses

-$ 207 NonOperating EXPENSES

$ 1,865 NET INCOME AFTER TAXES

-$ 653 Income Tax Expenses 35%

$ 1,212 Net INCOME

You might be interested in
A business letter is not written:
GalinKa [24]

Answer:

OC. between two private individuals.

Explanation:

A business letter is a formal document written to convey an official or commercial message. It is written in a standard format. A Business letter is usually short, clear, and concise.

Two private individuals will probably communicate using personal letters.  Unlike a business letter, a personal letter uses a friendly and relaxed tone. They are no laid down formats to consider.  Personal letters may convey messages concerning the writer or recipient's social, religious, or economic matters.

8 0
3 years ago
A team of builders has surveyed buyers of their new homes for years. Consistently, only 48% of the buyers have indicated they we
Assoli18 [71]

Answer:

Explanation:

So, the hypothesis is:

H0 : p = .48 versus Ha : p≠ .48

check the picture attached for more explanation

3 0
2 years ago
______has an absolute advantage in the production of alfalfa, and_______ has an absolute advantage in the production of barley.
AVprozaik [17]

Answer:

The person with Absolute advantage is the one that produces more of a good than the other.

<em><u>Dina </u></em><em>has an absolute advantage in the production of alfalfa, and </em><em><u>Charles</u></em><em> has an absolute advantage in the production of barley. </em>

The person with Comparative Advantage is the person who produces something at a lower opportunity cost.

Charles Opportunity Costs

Producing Alfalfa gives 12 bushels per acre instead of 6 bushels for Barley.

Producing 1 Alfalfa means 6/12 = 0.5 bushels Barley is given up

Producing 1 bushel of Barley means 12/6 = 2 bushels Alfalfa is given up.

Dina Opportunity Costs

Producing Alfalfa gives 15 bushels per acre instead of 5 bushels for Barley.

Producing 1 Alfalfa means 5/15 = 0.33 bushels of Barley is given up

Producing 1 bushel of Barley means 15/5 = 3 bushels of Alfalfa is given up.

<em>Charles's opportunity cost of producing 1 bushel of barley is </em><em><u>2</u></em><em> bushels of alfalfa, whereas Dina's opportunity cost of producing 1 bushel of barley is </em><em><u>3</u></em><em> bushels of alfalfa. Because Charles has </em><em><u>lower</u></em><em> a opportunity cost of producing barley than Dina, </em><em><u>Charlie</u></em><em> has a comparative advantage in the production of barley, and </em><em><u>Dina</u></em><em> has a comparative advantage in the production of alfalfa.</em>

6 0
3 years ago
The Havard Heating Company has been very successful in the past four years. Over these years, it paid common stock dividend of $
Snowcat [4.5K]

Answer:

$102.34

Explanation:

to be able to use the Gordon growth model, we must first determine the growth rate:

(4.15 - 4) / 4 = 3.75%

(4.35 - 4.15) / 4.15 = 4.82%

(4.58 - 4.35) / 4.35 = 5.29%

we can assume that the company will expect the growth rate to be 5.29%

stock price = (dividend + growth rate) / (required rate of return - growth rate)

= ($4.58 x 1.0529) / (10% - 5.29%) = $4.82 / 4.71% = $102.34

3 0
3 years ago
Select the answer that best describes why the return on investment (ROI) for higher education is high even though the cost of co
s2008m [1.1K]
I would say A. <span>You have the potential to earn more money in the future when you continue your education past high school.

Hope this helps!</span>
6 0
3 years ago
Other questions:
  • Why is looking at cash flow an important step in a good financial plan?
    11·1 answer
  • In some countries it is customary to pay government officials to secure necessary business contracts and permits. American busin
    6·1 answer
  • If the demand curve for tickets to a taping of a television show intersects the supply curve for tickets to that show at a negat
    13·1 answer
  • Erkkila Inc. reports that at an activity level of 6,600 machine-hours in a month, its total variable inspection cost is $423,980
    13·1 answer
  • Rob Redbird is interested in attending a concert next weekend. Unfortunately, he is scheduled to work. If he finds a substitute
    5·1 answer
  • Richard participated in a study conducted by an advertising agency. During his interview, he was asked to gauge the services pro
    13·1 answer
  • Luke is the owner of Fun Times, a U.S. event-planning company. He plans to open an event-planning company, Events &amp; Adventur
    9·1 answer
  • Which of the following statements is false?
    8·1 answer
  • Investment X offers to pay you $6,900 per year for 9 years, whereas Investment Y offers to pay you $9,300 per year for 5 years.
    13·1 answer
  • Who is credited with pioneering the principles of the scientific approach to management ?
    7·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!