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stepladder [879]
3 years ago
9

Wayman Corporation reports the following amounts in its December 31, 2021, income statement. Sales revenue $ 355,000 Income tax

expense $ 45,000 Interest expense 15,000 Cost of goods sold 125,000 Salaries expense 35,000 Advertising expense 25,000 Utilities expense 45,000 Required: Prepare a multiple-step income statement.
Business
1 answer:
Talja [164]3 years ago
5 0

Explanation:

The presentation of the multiple - step income statement is presented below

                                       Wayman Corporation

                               Multiple-step income statement

                                      As on December 31,2021

Sales revenue $355,000  

Less: Cost of goods sold  -$125,000

Gross profit                                            $230,000

Less: Operating expenses

Salaries expense $35,000

Utilities expense $45,000

Advertising expense $25,000  

Total operating expense                    -$105,000

Operating income                                     $125,000

Less: Interest expense                            -$15,000

Income before taxes                             $110,000

Less: Income tax expense                     -$45,000

Net income                                              $65,000

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Cemptex Corporation prepares its statement of cash flows using the indirect method to report operating activities. Net income fo
Lady bird [3.3K]

Answer:

711,300

Explanation:

Net cash generated from operating activities can be calculated by deducting and adding back the cash and non-cash items respectively from the net income for the year. Such as depreciation will be added back in net income due to it is a non-cash expense

Net Income                                                                       624,000

Depreciation and amortization                                         87,000

Decrease in accounts receivable                                     22,000

Increase in inventories                                                       (9,200)

Increase prepaid expenses                                                (8,500)

Increase in salaries payable                                              10,000

Decrease in income taxes payable                                   (14,000 )

Net cash generated from operating activities                 711,300

7 0
4 years ago
Logistics is the process of coordinating the flow of goods, services, and information among all members of the supply chain. Gro
Molodets [167]

This is true about about logistics. It is the process of coordinating the flow of goods, services, and information among all members of the supply chain.

<h3>What is the importance of logistics?</h3>

In the business and the supply world, logistics is very important for the reasons that have been listed below:

  • It helps to increase customer satisfaction.
  • It helps in the control of a businesses inventory.
  • It increases efficiency in the business place.
  • It helps to lower rates.

Read more on logistics here: brainly.com/question/23177203

8 0
2 years ago
: When you go looking for a job after graduation, what sources do you expect to use? Why?
Anna71 [15]

Answer:

you can use different types of research n ask people about information

Explanation:

it will make things easier for you about the challenges you will face and how to deal with them

8 0
3 years ago
9. How is planning made any why is it important ? Explain .<br><br>​
Varvara68 [4.7K]
Planning is made through a psychological process of rendered thoughts and ideas. Planning is important because for starters, it is a good way of gathering things in one’s mind and having mental organization. It is better to have things planned out than procrastinated because then, stress levels rise, efficiency is slower, and the accuracy of things that go on significantly depletes. Without planning, most of us would not survive because we would be so caught up in what is happening in the moment and how that affects us that we would not be able to process an idea or, as we’re referring to here, a plan. If you need any help, let me know and I will gladly assist you.
5 0
2 years ago
In a jewelry store, a customer places an order for a piece of jewelry (for example, a silver pin in the shape of a tulip). each
Marizza181 [45]

The best type of system for the order of the jewelry would be:

 

<span>1. </span>A customer chooses what he wants from the jewelry

<span>2. </span>He/she must check if the special jewels that he/she wanted are available for pre-order

<span>3. </span>Once the business agreement is done a transaction shall be followed in the making.

 

<span>Special orders should always be made to be pre-ordered, if the supplier has the item.</span>

6 0
3 years ago
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