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3 years ago

The following information relates to Sheridan Company for the year 2022.

Business

1 answer:

aliina [53]3 years ago

5 0

Answer:

a. Computation of net income

Particulars Amount

Service revenue $52,500

Less: Expenses

Salaries and wages expenses ($23,520)

Utilities expense ($2,600)

Rent expense ($8,740)

Advertising expense ($1,510)

Net Income $16,130

b. Computation of comprehensive income statement

Particulars Amount

Net Income $16,130

Add: Other Comprehensive Income $380

Comprehensive Income $16,470

Note: Dividend will not be included as it forms part of Income statement

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The trial balance of Rollins Inc. included the following accounts as of December 31, 2021:

Alinara [238K]

Answer:

Net income = $725,625

Earnings per share = $7.26 per share

Explanation:

The multiple-step income statement refers to an income statement that displays gross profit obtained as sales revenue minus cost of goods sold, and also shows an organization's operating revenues and operating expenses separately from its nonoperating revenues or gains and expenses or losses.

The multiple-step income statement can be prepared as follows:

Rollins Inc.

multiple-step income statement

For the Year Ended December 31, 2021

Details $ $

Sales Revenue 5,400,000

Cost of goods sold (3,950,000)

Gross profit 1,450,000

Operating expenses:

Selling expense (350,000)

General and admin expense (250,000)

Total operating expenses (600,000)

Operating income 850,000

Interest revenue (expense):

Interest revenue 37,500

Interest expense (20,000)

Total Interest revenue (expense) 17,500

Other compreh. income (loss):

Loss on sale of investments (10,000)

Loss on debt investments (125,000)

Gain on projected ben. obligation 235,000

Total other compreh. income (loss) 100,000

Income before tax 967,500

Income taxes (w.1) (241,875)

Net income  725,625 

Earnings per share (w.2) 7.26

Workings:

w.1: Income taxes = Income before tax * Effective tax rate = $967,500 * 25% = $241,875

w.2: Earnings per share = Net income / Number of shares of stock outstanding throughout the year = $725,625 / 100,000 = $7.26

7 0

3 years ago

A print ad usually includes which two things?

barxatty [35]

Answer:

A. Images and text

Explanation:

7 0

3 years ago

Three Corners Markets paid an annual dividend of $1.42 a share last month. Today, the company announced that future dividends wi

Mariana [72]

Answer:

$10.82%

Explanation:

The computation of stock value is shown below:-

First we need to find out the expected dividend for computing the stock value

So, Expected dividend = $1.42 × (1 + 1.3%)

= $1.44

Now, Stock value = Expected dividend ÷ (Required return - Growth rate)

= $1.44 ÷ (14.6% - 1.3%)

= $1.44 ÷ 13.3%

= $10.82%

So, for computing the stock value we simply applied the above formula.

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3 years ago

A charge nurse is delegating a task. The nurse understands which of the following represents effective delegation? Select all th

AlekseyPX

The nurse represents that effective delegation include:

Delineating the desired outcomes of the delegation.
Asking the nurse if they are capable of completing the delegated task.
Monitoring how the delegated task is being accomplished.

<h3>How to illustrate the information?</h3>

Effective delegation means planning ahead when identifying tasks to be accomplished. Assess the situation, and clearly delineate the desired outcomes.

Monitoring how the task is being accomplished is considered effective delegating.

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2 years ago

the market risk premium equals the question 37 options: risk-free rate of return plus the inflation rate market rate of return m

Novosadov [1.4K]

The Market Risk Premium (MRP) is the difference between the market portfolio's expected return and the risk-free rate.

<h3>What is market ?</h3>

A market is a place where buyers and sellers come together to facilitate the exchange and trading of goods and services.
A market place can be physical, like a retail store, or virtual, like an e-merchant.
Many of the other examples include illegal markets, auction markets, and financial markets.
The structure of the economic market can be divided into four categories: Perfect competition, monopoly competition, oligopoly, monopoly.
Categories differ in the following characteristics: The number of producers is large in monopoly competition, few in oligopoly, and he is one in monopoly.
Markets matter. Markets are the mechanisms through which shares of a company are bought and sold, providing companies with access to cash.
Markets are very important for pricing, liquidity transformation, and enabling businesses to meet customer needs.

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6 0

1 year ago