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tekilochka [14]
3 years ago
5

The following is a listing of some of the balance sheet accounts and all of the income statement accounts for Orange Company as

they appear on the company’s adjusted trial balance.
Accounts Payable $ 8,000
Accounts Receivable 27,000
Inventory 23,200
Advertising Expense 20,000
Cost of Goods Sold 153,000
Delivery Expense 7,600
Income Tax Expense 4,000
Insurance Expense 1,000
Rent Expense 18,400
Sales Revenue 320,000
Sales Discounts 9,400
Sales Returns & Allowances 43,000

Income from Operations would be:
Business
1 answer:
Sidana [21]3 years ago
4 0

Answer:

$67,600

Explanation:

income from operations = gross profit - operating expenses.

In this case, the income from operations = EBIT, it is not always that way because EBIT includes non-operating income, but in this case this doesn't exist.  

Sales Revenue 320,000

- Sales Discounts 9,400

<u>- Sales Returns & Allowances 43,000     </u>

Net sales = 267,600

<u>- Cost of Goods Sold 153,000                  </u>

gross profit = 114,600

- Advertising Expense 20,000

- Delivery Expense 7,600

- Insurance Expense 1,000

<u>- Rent Expense 18,400                              </u>

income from operations = 67,600

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After 160 customer reviews for the hotel, 65% were Excellent
Aneli [31]

Answer: 104 reviews

Explanation:

Number of customers reviews = 160

Percentage of customer reviews that were excellent= 65%

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3 years ago
Kyle, a single taxpayer, worked as a freelance software engineer for the first three months of 2021. During that time, he earned
laila [671]

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Data and Calculations:

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Total income for 2021 = $222,000

FICA taxes:

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4 0
3 years ago
Headland Co. has a held-to-maturity investment in the bonds of Schuyler Corp. with a carrying value of $79,200. Headland determi
Allisa [31]

Answer:

The Journal Entry is as follows:

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The Journal Entry is as follows:

Loss on Impairment $8,400

Debt Investment ($8,400)

7 0
3 years ago
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