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torisob [31]
3 years ago
9

The following data were provided by Mystery Incorporated for the year ended December 31: Cost of Goods Sold $ 159,000 Income Tax

Expense 16,000 Merchandise Sales (gross revenue) for Cash 228,000 Merchandise Sales (gross revenue) on Credit 39,600 Office Expenses 18,400 Sales Returns and Allowances 6,690 Salaries and Wages Expense 37,800 Required: Prepare a multistep income statement.

Business
1 answer:
Kryger [21]3 years ago
5 0

Answer:

Income Statement is attached in the pictures.

Explanation:

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If the purchase and sale of a currently illegal drug (for example, marijuana) were decriminalized, economists would expect:
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A. An increase in demand and supply of this drug.

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In this case, if marijuana were to decriminalized, demand would be skyrocket in the short-term. It will achieve equilibrium once it is set to be recreational use only.

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Four Seasons Hotels sell private residences in several of their properties and send direct mail to prospective residents asking
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Answer:

The correct answer is Lead generation.

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5 0
4 years ago
Southern Tours is considering acquiring Holiday Vacations. Management believes Holiday Vacations can generate cash flows of $218
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Find attached spreadsheet for detailed computations.

Download xlsx
6 0
3 years ago
Newell Rubbermaid Inc. manufactures and markets a broad array of office products, tools and hardware, and home products under a
ValentinkaMS [17]

Income Taxes Using appropriate headings and subtotals prepare a multiple-step consolidated income statement.

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                Consolidated Income statement

                Particulars                                    Amount

Net Sales                                               $ 5,864. 6

Less: Expenses                                      

Cost of Products sold                         = $ 3,6594.4

           Gross Profit                               = $2,205.2

Less: Operating expenses                            

Selling general, and administrative expenses    $ 1,515.3

Other expenses                                                     $ 432.7

          Operating Income                                   = $ 275

Less: Non-operating expenses

Interest and other non-operating expenses   $ 104.7

 Income before Taxes                                   = 152.5

Less: Income Tax expense                            $ 17.9

 Income after Taxes                                   = $134.6

Less: Loss on sale of Discontinued Operations

(net of income taxes)                                            $9.4

          Net Income                                                   $ 125.2

Learn more about  Net Income here:-brainly.com/question/15530787

#SPJ4

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1 year ago
Which of the following is included in the balance sheet? A. Revenue B. Salaries expense C. Utilities expense D. Accounts payable
Shkiper50 [21]
The answer is D. I hope it is correct
3 0
3 years ago
Read 2 more answers
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