An interest rate that remains the same throughout the entire loan repayment period

Prepare a multiple-step income statement for Surry Co. from the following data for the year ended December 31, 2016. Sales $915,

gavmur [86]

Answer:

Surry Co.

Income Statement for the year ended December 31, 2016

Sales $915000

Less Cost of Merchandise Sold $670000

Gross Profit $245000

LESS OPERATING INCOME

Selling Expenses

Customer Refunds and allowances $ 55000

Selling expenses $ 120000 $175000

Administrative Expenses

Administrative expenses $ 30000 $30000

Total Operating expenses $205000

Operating Income $ 40000

NON-OPERATING INCOME

Interest Expense ($12000)

Rent Revenue $19000

Total Non-operating Income $ 7000

Net Income $47000

Explanation:

A multiple-step Income Statement separate Operating Revenues and Operating Expenses from Non-Operating Revenues and Non-Operating Expense.

6 0

4 years ago

Focusing provides the ability to secure a competitive edge but also itcarries some risks that will be detrimental to the focused

san4es73 [151]

Answer:

B - The potential for the preferences and needs of niche members to shift over time toward mainstream provider product attributes.

Explanation:

In the long term, such focused goods and services might be provided by every supplier, hence the Company (focused on one product) might earn less profits and lose its competitive advantage as more players have entered the competition to produce and sell similar products.

6 0

3 years ago

Which of the following statements best defines the vision of an organization?a. It is the guidepost by which managers define the

Darina [25.2K]

Answer:

The correct answer is letter "B": It is the perception of marketplace needs and the ways the organization can satisfy them.

Explanation:

The vision of a company reflects the objectives of the firm related to its surrounding environment. In other words, a company's vision comprises its operative goals in regards to the transactions necessary to satisfy its consumers' needs and wants. It is suggested that a company's vision would be a segment no longer than 150 words.

7 0

3 years ago

Ryan is a 25% partner in the rocc partnership. at the beginning of the tax year, ryan's basis in the partnership interest was $9

maw [93]

Your answer is going to be, $115,000

6 0

4 years ago

Given the returns for two stocks with the following information, calculate the correlation coefficient of the returns for the tw

julsineya [31]

Answer:

The correlation coefficient of the returns for the two stocks is 0.231

Explanation:

From the question given, we apply the method called co variance

Co variance is referred to as when the co-movement of variables are measured.

The co variance is defined as:

ρ₁,₂=Cov₁,₂/σ₁ x σ₂

The Expected return of stock 1 μ1= 0.4 x 9+0.5 x 11+0.1 x 17=10.8%

The Expected return of stock 1 μ2=0.4 x 11+0.5 x 8+0.1 x 13=9.7%

The Variance of stock 1 σ²₁ is:

1 σ²₁=0.092 x 0.4+0.112 x 0.5+0.172 x 0.1−0.1082σ12=0.092 x 0.4+0.112 x 0.5+0.172 x 0.1−0.1082

=0.012180-0.011664 =0.000516

The standard deviation of stock 1 σ₁ =2√0.0005162 =0.022716 =2.2716%

Thus,

The Variance of stock 2 σ²₂ is:

2 σ²₂= 0.112 x 0.4+0.082 x 0.5+0.132 x 0.1−0.09722 =0.009730-0.009409=0.000321

The standard deviation of stock 2 σ₂ =2√0.000321 =0.017916=1.792%

Cov₁,₂=0.4 x (0.09−0.108)x (0.11−0.097)+0.5 x(0.11−0.108)x(0.08−0.097)+0.1 x(0.17−0.108)x(0.13 8)x(0.13−0.097) =-0.000094-0.000017+0.000205 =0.000094

Therefore,

ρ₁,₂=0.000094/((0.017916)x(0.022716)) =0.231

3 0

3 years ago