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
Brrunno [24]
3 years ago
13

Concord Co. had sales revenue of $555,600 in 2020. Other items recorded during the year were: Cost of goods sold $320,200 Salari

es and wages expense 120,100 Income tax expense 25,590 Increase in value of company reputation 15,570 Other operating expenses 11,210 Unrealized gain on value of patents 20,410 Prepare a single-step income statement for Concord for 2020. Concord has 105,600 shares of stock outstanding
Business
1 answer:
NARA [144]3 years ago
8 0

Answer:

                          Concord Co.

                     Income Statement

    For the Year Ended December 31, 2020

Revenues:

Sales revenue                                          $555,600

Expenses:

Cost of goods sold                                ($320,200)

Salaries and wages expense                 ($120,100)

Other operating expenses                        ($11,210)

Income tax expense                               ($25,590)

Net income:                                               $78,500

Earnings per share:                                       $0.74

Increase in value of company reputation and unrealized gain on value of patents are not included in this income statement.

You might be interested in
Don executes a will leaving half of his farm to his spouse Elsie and the rest to his sons, Frank and Greg, in equal shares. The
SVETLANKA909090 [29]

Answer:

Don executes a will leaving half of his farm to his spouse Elsie and the rest to his sons, Frank and Greg, in equal shares. The will disinherits a third son, Hal. Don and Elsie divorce, but Don dies before changing his will. Under the Uniform Probate Code:

c. Frank and Greg receive the entire estate in equal shares.

Explanation:

  • Uniform Probate Code is applicable in almost 18 states of the United States that was developed to standardize the laws of wills, trusts, and intestacy.
  • The option a is not correct as Elsie can't get the half of the farm as Don and Elsie were divorced.
  • The option b is also incorrect as Elsie can't get the half of farm as well as Hal will not get the share.
  • The option c is correct as it is in accordance with Uniform Probate Code.
  • The option d is incorrect as state can't inherits the entire estate in the presence of heirs.
6 0
3 years ago
Joe was the head chef and owner of Corner Grill in Columbus. He had three employees. One of them, Joan, fell sick on Sunday. Joe
Thepotemich [5.8K]

Answer:If Ashton was made aware that he could be called in to cover for another employee during the hiring.Or he had stood in for another employee several times after being called and without calling back

Explanation:

4 0
4 years ago
Given the rapid advancements in technology in developed countries and fast pace of globalization, it is not possible to bridge t
VladimirAG [237]

Answer and explanation:

I disagree. It is a fact that developing countries cannot keep the pace of developed countries when it comes to producing technological inventions because of the differences in resources -capital and knowledge. However, everyday technology is faster at the reach of people's hands regardless of where they are located in the world. It is indeed bridging the technology access developing countries have with the developing countries. It now depends on developing countries in finding out how they use that technology to improve the masses' lifestyles.

7 0
3 years ago
Jim and Sue were going to be married and were very much in love. Before the wedding date, they went out for coffee and orally ag
ludmilkaskok [199]

Answer:

B. It will not be enforced due to the statute of frauds.

Explanation:

Jim and Sue ''orally agreed to how the marital assets would be split if they divorced'', but however did not sign any agreement that makes the contract valid. Thus, the contract will not be enforced due to the statute of frauds. A statute of frauds, simply means a contract without sufficient written evidence agreed and signed by parties to the contract.

5 0
3 years ago
I am in grade 12 right now and I’m wondering if college is worth it... I hear stories that people who go to college aren’t able
dem82 [27]
Some jobs have limited openings and are hard to find. I'm duel enrolled and very happy I'm going to college because everything I want to do requires a degree. to me every cent and hour is worth it!!! it is a matter of opinion but I would suggest you go to college
7 0
3 years ago
Read 2 more answers
Other questions:
  • The fi corporation's dividends per share are expected to grow indefinitely by 5% per year. ( lo 13-3 ) 1. if this year's year-en
    10·1 answer
  • 4.
    13·1 answer
  • What are ethics? how would they apply to business and technology?
    11·1 answer
  • Mandy is a ceo who displays little commitment to the organization's mission and staff. according to blake and mouton, mandy has
    9·1 answer
  • As the bookkeeper of a new start-up company, you are responsible for keeping the chart of accounts up to date. At the end of eac
    8·1 answer
  • Cancelling a dance class after several students hurt themselves is an example of which risk management strategy?
    11·1 answer
  • If the economy is currently in equilibrium at a level of GDP that is below potential GDP, what would move the economy back to po
    7·1 answer
  • Hey people i need 2 more Brainiest to get Virtuoso i really want to get there if you could help me that would be AMAZING.
    7·2 answers
  • In terms of stakeholder responsibility, what implies an obligation to meet the needs and wants of others?.
    5·1 answer
  • When may an item attached to a structure be considered personal property rather than real property?
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!