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grigory [225]
3 years ago
15

Blossom Corporation had net sales of $2,410,900 and interest revenue of $36,700 during 2017. Expenses for 2017 were cost of good

s sold $1,460,400, administrative expenses $218,600, selling expenses $286,400, and interest expense $50,800. Blossom’s tax rate is 30%. The corporation had 105,200 shares of common stock authorized and 73,090 shares issued and outstanding during 2017. Prepare a condensed multiple-step income statement for Blossom Corporation.

Business
1 answer:
BaLLatris [955]3 years ago
7 0

Answer:

Explanation:

In the income statement, the total revenues and the total expenses are recorded.  

If the total revenues are more than the total expenditure then the company earns net income

And, If the total revenues are less than the total expenditure then the company have a net loss

This net income or net loss would reflect in the statement of the retained earning account.  

The preparation of the income statement is presented in the spreadsheet. Kindly find the attachment below:

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3 years ago
What is the basic process of staffing​
Tems11 [23]

Answer:

hope you like it

Explanation:

Staffing is the process of determining the manpower requirements of a company which are necessary to achieve its objectives. This includes appraising and selecting candidates to fill these requirements and orienting, training and developing new and existing staff.

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5 0
2 years ago
A consumer has $180 in monthly income to spend on two goods, D and G, where D is on the y-axis. The price of good D, PD is $6, a
olga2289 [7]

Answer:

The number of units of good G that can be purchased if all income is used to purchase good G is 15 units.

Explanation:

Since D is on the y-axis, indicating G is on the x-axis, the formula for calculating the marginal rate of transformation (MRT) is given as follows:

MRT = - PG / PD …………………. (1)

Where:

MRT = Marginal rate of transformation = -2

PG = Price of good G = ?

PD = Price of good D = $6

Substituting the relevant values into equation (1) and solve for PG, we have:

-2 = - PG / $6

PG = -2 * (-6) = $12

Therefore, we have:

Number units of good G if all income is spent on it = Monthly income / PG = $180 / $12 = 15

Therefore, the number of units of good G that can be purchased if all income is used to purchase good G is 15 units.

7 0
2 years ago
Suppose that banks decide to hold fewer excess reserves relative to deposits. Other things the same, this action will cause the
marysya [2.9K]

Answer:

c. money supply to rise. To reduce the impact of this the Fed could sell Treasury bonds.

Explanation:

Since in the question it is given that the bank has decided to hold fewer reserves that contain excess reserves as compared to deposits so for this they have to borrowed the amount or the saving amount should be invested

This results in declining in interest rate which causes the money supply risen also the demand and the investment for the nation has risen that develop the inflation but for declining the inflation the FED has to sell the bonds so that it comes at equilibrium point again

4 0
3 years ago
Which of the following activities describes the opportunity cost of attending an economics class?
zhuklara [117]

Answer:

C is the correct option

Explanation:

Opportunity cost is a concept of Macroeconomic theory. It is also known as an alternative cost. It is the value of what one gives up to choose something else. In simple terms, we can say that it is the value of the road not taken. In the above question, the value of the activities one had to leave to attend the economics class woul be known as the Opprtunity cost.

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3 years ago
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