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Margaret [11]
3 years ago
13

The following income statement items, arranged in alphabetical order, are taken from the records of Shaw Corporation for the cur

rent year:
Advertising expense $1,374
Interest expense $1,360
Commissions expense 2,271
Interest revenue 1,464
Cost of goods sold 29,214
Rent revenue 6,957
Depreciation expense - office building 2,724
Salaries and wages expense—office 11,582
Income tax expense 1,586
Sales revenue 48,243
Insurance expense - salesperson’s auto 2,141
Supplies expense—office 921


Assume that Shaw Corporation classifies all operating expenses into two categories: (1) selling and (2) general and administrative.

Required:
Prepare a multiple-step income statement for the current year.
Business
1 answer:
Alenkinab [10]3 years ago
8 0

Answer:

so sry idk

Explanation:

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6 0
3 years ago
Soy Products ​(Upper K​SP) buys soybeans and processes them into other soy products. Each ton of soybeans that Upper KSP purchas
galben [10]

Answer:

See attachment for 1 and 2

Explanation:

Number 2 (continuation)

ISP should process the soy meal into soy cookies because that increases profit by $263. However, ISP should sell the soy oil as is, without processing it into the form of Soyola, because profit will be $56 higher if they do. Since the total joint cost is the same under both allocation methods, it is not a relevant cost to the decision to sell at splitoff or process further.

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3 years ago
A pension fund is making an investment of $100,000 today and expects to receive $1,600 at the end of each month for the next fiv
Vladimir [108]

Answer:

The answer is 14.4%

Explanation:

Calculations as follows:

Total returns 1600*12*5=96,000

Plus the capital investment of 100,000

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196,000=100,000(1+r/100)∧5

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5√1.96 -1= r/100

1.1440-1 = r/100

0.144=  r/100

r = 14.4%

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3 years ago
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