Answer:
Net income $55,000
Earnings per common share $0.55
Explanation:
Preparation of a single-step income statement for Starr for 2015.
Starr Co. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2015
REVENUES
Sales revenue $540,000
Total revenues $540,000
EXPENSES:
Cost of goods sold $330,000
Salaries and wages expense $120,000
Income tax expense $25,000
Other operating expenses $10,000
Total expenses $485,000
($330,000+$120,000+$25,000+$10,000)
Net income $55,000
($540,000-$485,000)
Earnings per common share $0.55
($55,000 ÷ 100,000 shares)
Therefore single-step income statement for Starr for 2015 will have a Net income of $55,000 and Earnings per common share of $0.55.
Answer:
The amount of interest is $576.
Step by step explanation :
Given : Enrique borrowed $3600 to put a down payment on a motorcycle. The loan had a simple interest rate of 8% for 2 years.
To find : The amount of interest he will pay on the loan.
Solution : Using the formula,
Where, I= Interest , P=principal , R= rate, T=time in years
We have given that :
P=$3600
R=8%=0.08
T=2 years
Substitute value in the formula to find interest,
Therefore, The amount of interest is $576.
Answer:
Land $210,000 (debit)
Land Improvements $42,000 (debit)
Building $ 168,000 (debit)
Cash $ 420,000 (credit)
Explanation:
Recognise the Assets Purchased separately at their appraised amounts to reflect inflow of economic benefits and de-recognise the Asset Cash to reflect outflow of economic benefits.
Answer:
Tobago is effect Corona various
Is very harmful
I only have few ideas
I hope you like it
Answer:
f. $615
Explanation:
The standard cost for 2,850 pounds is $18,328.5 (=$6.45 * 2,850)
Materials purchase-price variance–favourable $855; it means standard price is higher and actual material price. Then we have actual cost for purchased 2,850 pounds is $17,527.5 (=$18,328.5-$855)
Then the actual price per pound $6.15 (=$17,527.5/2,850)
The difference between purchased and actual quantity used is 100 pounds (= 2,850 pounds - 2,750 pounds)
The direct materials usage variance for the period is $650 (= $6.15 * 100 pounds)
