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JulsSmile [24]
2 years ago
6

The following account balances were taken from the 2021 adjusted trial balance of the Bowler Corporation: sales revenue, $485,00

0; cost of goods sold, $248,000; salaries expense, $61,000; rent expense, $36,000; depreciation expense, $46,000; and miscellaneous expense, $28,000. Prepare an income statement for 2021.
Business
1 answer:
jekas [21]2 years ago
8 0

Answer:

Bowler Corporation

Income Statement for 2021

Sales revenue                                    $485,000

Less Cost of goods sold                  ($248,000)

Gross Profit                                         $237,000

Less Expenses

salaries expense              $61,000

rent expense                    $36,000

depreciation expense     $46,000

miscellaneous expense  $28,000   ($171,000)

Net Income/ (Loss)                             $66,000

Explanation:

Income Statement shows the Operating performance of the the company over the financial period.

Income/loss = Sales - Expenses.

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Natali5045456 [20]

Answer:

It is 0.98

Explanation:

Total Assets Turnover Ratio(TATR) =   <u>   Net Sales                </u>      

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Net Assets =Gross Sales-Trade discounts-Sales tax-Sales return

TATR = 940,000/955,000 = 0.98 times

It is the ratio of a company's net sales to its average assets employed.

It is a ratio that tells how efficient the company is using its assets to generate its revenue.

The drawback of this ratio is that, if the divisional manager performance is based on this, it may sometimes leads to short-term view of performance. This  may then encourage dysfunctional behaviour which may include refusal to replace an old assets with lower based value which when replace may reduce this ratio because of the higher based value of the new assets while sales still remain the same

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3 years ago
Fiscal policy is limited when the slope of the
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The right answer for the question that is being asked and shown above is that: "d. AD and AS curves are more horizontal to the multiplier is more effective." Fiscal policy is limited when the slope of the <span>AD and AS curves are more horizontal to the multiplier is more effective.</span>
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All of the following were monetary and fiscal policy responses to the Great Recession EXCEPT? (a) Troubled Asset Relief Program
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Sean relocated to take a new job, and when he got sick he needed to find a doctor. He discovered during the visit that he didn't
Usimov [2.4K]

Answer:

The answer is: D) inseparability

Explanation:

Inseparability in marketing means that you can't separate the production of the service from its consumption.

In other words, the doctor who offers the service comes together with the service he offers.

The doctor may have treated Sean's health issues in a correct manner and probably helped to cure Sean, but if Sean doesn't like the doctor then he will not return. Sean can not separate the doctor form the service he delivers.

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3 years ago
XYZ Ltd produces a product for which the annual demand is 10,000 units. Production averages 100 units per day, while demand is 4
irina [24]

Answer: Batch size to be used  =Economic batch size of 2,236 units

Explanation:

From the question, we have that

Annual demand (D) = 10,000 units

Setup cost (S) = $200

Holding cost (H) = $2 per unit per year

Daily production (p) = 100 units per day

Daily Demand (d) = 40 units per day

Therefore Economic batch size, Q will be calculated as

Q =\sqrt{2 x D x S / H x ( 1-d/p }

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Economic batch size =2,236 units

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3 years ago
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