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maw [93]
3 years ago
13

The following information was taken from the records of Roland Carlson Inc. for the year 2020: income tax applicable to income f

rom continuing opera-tions $187,000, income tax applicable to loss on discontinued operations $25,500, and unrealized holding gain on available-for-sale debt securities (net of tax) $15,000.
Gain on sale of equipment $95,000
Cash dividends declared $150,000
Loss on discontinued operations 75,000
Retained earnings January 1, 2020 600,000
Administrative expenses 240,000
Cost of goods sold 850,000
Rent revenue 40,000
Selling expenses 300,000
Loss on write-down of inventory 60,000
Sales revenue 1,900,000
Shares outstanding during 2020 were 100,000

Required:
a. Prepare single -step income statement.
b. Prepare comprehensive income statement for 2020, using two statement format.
c. Prepare a retained earnings statement for 2020.
Business
1 answer:
Free_Kalibri [48]3 years ago
5 0

Answer: uhhh d

Explanation:

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MV Corporation has debt with market value of ​million, common equity with a book value of ​million, and preferred stock worth mi
kirza4 [7]

Answer:

The Weighted Average cost of capital measures the cost to the company of its current capital structure by using the weights of the various capital measures. WACC usually uses market values so;

Total amount = Debt + Preferred stock + common equity

= 100 million + 20 million + ( 50 * 6 million)

= $420 million

<u>Proportions.</u>

Debt

= 100/420

= 24%

Preferred Stock<u> </u>

= 20/420

= 5%

Common Equity

= 300/420

= 71%

6 0
3 years ago
When a company discontinues an operation and disposes of the discontinued operation (component), the transaction should be inclu
Ne4ueva [31]

Answer:

1. an amount after continuing operations.

Explanation:

In preparing the income statement the transactions resulting into gain or loss from the discontinued operations are always reported in income statement.

For this there is special heading that is

Amount after continuing operations

This basically reflects the gain or loss from the sale of such segment.

This provides for reporting all the transactions as part of business but in an highlighted manner.

4 0
3 years ago
Which category in Maslow's hierarchy includes basic survival needs such as air, food, water, and shelter?
riadik2000 [5.3K]

the answer is : A

The Physiological category in Maslow's hierarchy includes basic survival needs such as air, food, water, and shelter.

7 0
3 years ago
Read 2 more answers
Les just bought a megaphone of root beer. As he drinks from the giant cup, he eventually becomes full. One of his friend's comme
MrMuchimi

Answer:

Sink-Cost Fallacy

Explanation:

According to my research on studies conducted by various behaviorists, I can say that based on the information provided within the question the mental bias that describes Les's behavior is called the Sink-Cost Fallacy. This fallacy/bias refers to when an individual relentlessly continues's a behavior solely because of the resources that they have invested, either being time, money, or effort. Which in this case since, Les invested money into the drink so he does not want to waste it even though it might make him sick.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

8 0
3 years ago
The standard costs and actual costs for direct materials for the manufacture of 3,000 actual units of product are as follows: St
svetoff [14.1K]

Answer:

$2,250 favorable

Explanation:

The direct material price variance is computed as;

= ( Standard price - Actual price ) × Actual quantity

Given that;

Standard price = $8.75

Actual price = $8

Actual quantity = 3,000 units

Direct material price variance

= ( $8.75 - $8 ) × 3,000

= ( $0.75 ) × 3,000

= $2,250 favorable

6 0
2 years ago
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