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umka21 [38]
3 years ago
8

Crane Corporation had income from operations of $6,433,500. In addition, it suffered an unusual and infrequent pretax loss of $7

78,800 from a volcano eruption, interest revenue of $18,630, and a write-down on buildings of $56,090. The corporation’s tax rate is 30%. Prepare a partial income statement for Crane beginning with Income from operations. The corporation had 4,958,200 shares of common stock outstanding during 2020. (Round earnings per share to 2 decimal places, e.g. 1.48.)
Business
1 answer:
OverLord2011 [107]3 years ago
3 0

Answer:

Kindly check explanation

Explanation:

Given the following :

Income from operations before income tax and extraordinary item = $6,433,500

Income tax expense = (0.3 × 6,433,500) = $1,930,050

Income before extraordinary item ($6,433,500 - $1,930,050 = $4,503,450

Extraordinary event - loss from eruption = $778,800

Less:Applicable income tax : (1 - 0.3) × 778,000) = $544,600

Less : Interest revenue = $18,630

Less : write down on building = $56,090

Net income = $4,503,450 - (544,600 + 18,630 + 56,090) = $3,884,130

Income before extraordinary item = $4,503,450 / 4,958,200 = 0.9082832 = 0.91

Extraordinary loss = 544600 / 4,958,200 = 0.1098382 = 0.11

Net income = 3,884,130 / 4,958,200 = 0.7833750 = 0.78

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What is the difference between division of labour and specialisation?
Rus_ich [418]

Answer:

Specialization refers to an individual while division of labor is social or refers to society (the aggregation of individuals). Division of labour is the separation of the production process into different operations, from intellectual to manual, from each process in a production line, from country to country, etc.

7 0
2 years ago
a firm is evaluating a proposal which has an initial investment of $50,000 and has cash flows of $15,000 per year for five years
Lyrx [107]

The payback period of the project is 3.3 years.

Payback period = initial investment/ annual cash flow

= 50,000/15,000

= 3.3 years.

The time period payback period refers to the amount of time it takes to get better the fee of an funding. surely put, it's miles the period of time an investment reaches a breakeven point. human beings and groups in particular invest their money to receives a commission again, which is why the payback length is so vital.

Payback period in capital budgeting refers back to the time required to recoup the budget expended in an funding, or to attain the ruin-even factor. for example, a $a thousand funding made at the start of 12 months 1 which again $500 at the quit of year 1 and year 2 respectively could have a two-year payback duration.

In simple terms, the payback period is calculated by dividing the cost of the funding via the annual coins waft till the cumulative coins flow is nice, that's the payback yr. Payback length is typically expressed in years.

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5 0
1 year ago
Your seller wants to net $100,000 after the 5ommission is paid. assuming no closing costs, at what price does the home need to s
Murljashka [212]

$105,263.16

The seller's percentage of a sale is 100% - 5% commission = 95% (or .95). Take the amount the seller wants to net and divide it by that amount ($100,000 ÷ .95 = $105,263.16). Conversely, for a sales price of $105,263.16: $105,263.16 × .95 = $100,000.

the sales price is the discounted price at which goods or services are sold. This price is typically offered for a limited time and is typically used to promote sales during a recession or sell excess inventory. Discounts are advertised as a percentage of the regular list price.

Although the two are interchangeable, the sale price is usually used when the sale results in a lower than normal price for an item. Discounted prices on items compared to regular retail prices. According to the Business Dictionary, selling price is an "alternative term for price."

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4 0
2 years ago
A firm purchased 50 units of materials with a unit price of $1.30 on June 1. On June 15, the firm purchased 50 units with a unit
dsp73

Answer: $83

Explanation:

Given that,

On 1 June,

Materials purchased = 50 units

Unit price of material = $1.30

On June 15,

Materials purchased = 50 units

Unit price of material = $1.20

Total cost of 65 units:

= (Material purchased on 1 June × Unit price of material) + [(65 units - 50 units) × $1.20]

= (50 units × $1.30) + (15 units × $1.20)

= $65 + $18

= $83

8 0
3 years ago
[Disappointing Boat Purchase] Ava went to purchase a new boat. She wanted a boat she could use in a nearby lake and also take to
LekaFEV [45]

Answer:

Implied warrenty

Explanation:

The sale itself constituted an implied warranty of merchantability but not an express warranty or a warranty of fitness for a particular purpose.

8 0
3 years ago
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