1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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:

You might be interested in
How to start a Media Company?
Evgesh-ka [11]
Did u try googling it?
7 0
3 years ago
Assets are financed by creditors and owners. At 1/29/2021, approximately what percentage of Dollar General’s assets are financed
Vlad [161]

Based on the amount of equity and that of assets, the percentage funded by owners is<u> 29.4%. </u>

<h3>What is the Percentage financed by owners?</h3>

This can be found by the formula:

= Equity / Assets x 100%

Solving gives:

= 6,702,500 / 22,825,084 x 100%

= 29.4%

In conclusion, 29.4% is financed by the owners.

Find out more on Equity at brainly.com/question/25847981.

7 0
2 years ago
With the emergence of smartphones, users no longer have to carry a separate music player, a video game, a laptop, or a magazine
ohaa [14]

Answer: (D) Industry convergence

Explanation:

 The industry convergence is basically representing the fundamental growth in an organization and it basically helps in defining the various types of industries boundaries according to the business principle.

The industry convergence is the way for applying the knowledge by using the various types of technology related application in the industry.

According to the given question, the emergence of the smartphones industry with the different types of given application best illustrating the industry convergence concept.

Therefore, Option (D) is correct answer.

6 0
3 years ago
Which of the following statement(s) is/are False? Assume a positive interest rate
gtnhenbr [62]

Answer:

False Statement:

B. Only II is False.

Explanation:

If the cash flow from a project is farther out, the present value will be lower, all else being equal.  This is because of the time value of money.  This concept states that the money you receive today is higher in value than the same amount received in the future.  And if the future is father out, then the value of the money will continue to reduce in relative value based on this time value of money concept.

5 0
3 years ago
(Consider This) If the law of diminishing returns applies to study time:
erma4kov [3.2K]

Answer:

A. the 10thhour of study will likely be less productive than the 3rd.

Explanation:

The law of diminishing returns is a point at which the level of benefits or apprehensions gained is less than the amount of energy or time that is invested.

So at the tenth hour, this law would be setting in, and the effectiveness of each additional unit of time decreases. So this hour will be less productive than the third hour.

7 0
3 years ago
Other questions:
  • A company just starting in business purchased three merchandise inventory items at the following prices. March 2, $150; March 7,
    14·1 answer
  • Melissa purchases a dvd player at a store that sells refurbished merchandise. the store has a big sign stating "caveat emptor" p
    12·1 answer
  • In the united states the largest expenditure component of gdp is
    9·2 answers
  • John gives up a shift at work so he can go to Universal with a friend. He spends $150 at Universal. He would have earned $220 du
    7·1 answer
  • The Drogon Co. just issued a dividend of $3.00 per share on its common stock. The company is expected to maintain a constant 6.2
    15·1 answer
  • Beach Runner makes running shoes and they are anticipating the incurrence of the following manufacturing overhead costs during t
    14·1 answer
  • Which of the following job duties would a person in marketing perform?
    7·1 answer
  • Nancy sold her personal residence on June 30 of this year under an agreement in which the real estate taxes were not prorated be
    8·1 answer
  • How do i buy a ring for my super hot fine dad non-existent future novio?
    15·2 answers
  • andie needs to borrow $6,000 to buy a car. one dealer offers her a monthly payment of $193.60 on a 3-year loan with an apr of 10
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!