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Alex787 [66]
3 years ago
5

Wayman Corporation reports the following amounts in its December 31, 2021, income statement. Sales revenue $ 411,000 Income tax

expense $ 53,000 Interest expense 23,000 Cost of goods sold 133,000 Salaries expense 43,000 Advertising expense 33,000 Utilities expense 53,000 Required: Prepare a multiple-step income statement.

Business
1 answer:
cestrela7 [59]3 years ago
8 0

Answer:

Explanation:

In the income statement, the total revenues and the total expenses are recorded.  

If the total revenues are more than the total expenditure then the company earns net income

And, If the total revenues are less than the total expenditure then the company have a net loss

This net income or net loss would reflect in the statement of the retained earning account.  

The preparation of the income statement is presented in the spreadsheet. Kindly find the attachment below:

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5. If a company had $15,000 in net income for the year, and its sales were $300,000 for the same year, what is its profit margin
Alika [10]

Answer:

5%

Explanation:

Net income is $15,000

Sales is $300,000

The profit margin can be calculated as follows

= 15,000/300,000

= 0.05×100

= 5%

Profit margin is 5%

7 0
3 years ago
Paid personal communication that seeks to inform customers and persuade them to purchase products in an exchange situation is
Mashutka [201]

Paid personal communication that seeks to inform customers and persuade them to purchase products in an exchange situation is Personal selling.

What is personal selling?

  • In order to influence a customer's buying choice, personal selling is a personalized sales technique that involves direct communication between a sales representative and potential customers.
  • Globalization, the rise of the internet, and the emergence of social media, however, have made personal selling only one of many selling and marketing strategies.
  • The selling strategy might not be as popular as it once was. Yet there are so many businesses that significantly rely on this approach to selling.

What are the objectives of personal selling?

  • Building strong, long-lasting relationships with consumers.
  • Boosting demand for the offering.
  • Increasing sales.
  • Supporting the customers.

Learn more about the personal selling with the help of the given link:

brainly.com/question/18240042

#SPJ4

8 0
9 months ago
Debit postings to the individual accounts in an accounts receivable subsidiary ledger generally come from the
umka21 [38]
Bank transaction fee
4 0
2 years ago
Sam's Pizza is considering a new store location. For accounting purposes, fixed operating costs for a store are $245,000 a year,
Yuki888 [10]

Answer:

33,793   pizzas

Explanation:

The annual break-even sales level for the number of pizzas sold in the location is computed using the break-even sales units formula  below:

break-even sales=fixed costs/contribution margin per pizza

fixed costs=$245,000

contribution margin per pizza=selling price-variable cost

selling price=$12.50

variable cost=selling price*42%

variable cost=$12.50*42%

variable cost=$5.25

contribution margin per pizza=$12.50-$5.25 =$7.25

break-even sales=$245,000/$7.25 = 33,793   pizzas

5 0
2 years ago
If Clancy's boss is interested in a graphical representation of the relationship between the price and quantity of televisions d
Anna35 [415]

Answer:

A demand schedule

Explanation:

A demand schedule is a table that shows how the quantity demanded varies with changes in prices. It is a table that explains the relationship between the price of a product or service and its demand. A demand schedule provides the same information as the demand curve. The only difference is that the demand curve uses graphical representation, while the demand schedule uses the table format.

Clancy should, therefore, prepare the demand schedule for her boss. It will give the same information regarding the relationship between price of televisions and the quantity demanded.

6 0
2 years ago
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