Answer:
Multiple-step income statement for the year ending December 31, year 1
Sales $275,200
Cost of Goods Sold <u>($185,000)</u>
Gross Profit $90,200
Operating Expenses:
Administrative Expense ($35,000)
Selling expenses <u>($55,000)</u>
General Expense <u>($45,000)</u>
Operating Income ($44,800)
Non-Operating Revenue <u>$105,000</u>
Operating Income before tax $60,200
Income taxes <u>($25,000)</u>
Operating Income after Tax <u>$35,200</u>
Explanation:
Multi-step Income statement segregate the Operating Income and Expenses from non operating Income and Expense. It shows the gross profit and net operating income separately.
What business are you in? The question sounds easy enough. ...
How will the business make money? ...
What does your business need to get off the ground? ...
What is the operating budget? ...
Who are your customers? ...
How will you reach your customers? ...
What sets you apart from the competition? ...
What are your strengths and weaknesses?
What business are we in? ...
What is the vision and mission of the company? ...
Who is our customer? ...
What does our customer value? ...
What is our target market? ...
What products and services do we provide? ...
What is our sales and marketing strategy?
Answer:
a. 1.5 and 1.8
b. Montana
Explanation:
Below is the calculation for the current ratio:
a. Formula used, Current ratio = Current assets / Current liabilities
Current ratio of Kansas = 59000 / 40000 = 1.5
Current ratio of Montana = 78000 / 43000 = 1.8
b. The company that has a higher current ratio will have a greater likelihood to pay bills so Montana is the correct answer.
Answer:
As Veronica is non-cooperative that means she doesn't care for the team so In this scenario, Veronica has a task-oriented leadership style.
Explanation:
Relationship-Oriented Leadership:
Such leadership style in which the leaders focus more on the team especially for the motivations of members of his team and their well being. As Veronica doesn't show positive attitude towards the team so she doesn't has this style.
Country Club Leadership:
In this leadership style, leaders are more concerned about the happiness of their teams rather than results as they believe if their team mates are satisfied then they can achieve their goals in an efficient way.
Task-Oriented Leadership:
In this leadership style, leadership are focusing on the task and goals rather than their team members (creativity, motivation and well being of team members) like in our scenario Veronica has task oriented leadership.
Team Management:
It is defined as the quality of an individual or an organization to manage their team members in order to work efficiently to achieve their set goals. It involves the coordination and communication of all the team members and results in the alleviation of conflicts and strong bonding of team.
Answer:
The total shareholders’ equity at the end of Year 1 is $487,400
Explanation:
The computation of the ending total shareholders’ equity is shown below:
= Common stock value in exchange of cash + net income + net holding gains - dividend paid
= $442,400 + $98,000 + $1,000 - $54,000
= $487,400
While calculating the ending balance of shareholder equity we added the net income, net holding gains and deducted the dividend paid to the common stock value amount
