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3 years ago

Duke Company’s records show the following account balances at December 31, 2018:

Business

1 answer:

EastWind [94]3 years ago

7 0

Answer:

Duke Company’s total comprehensive income for 2018 is $3,136,000.

Explanation:

Note: See the attached excel file for the single, continuous multiple-step statement of comprehensive income for 2018.

A multi-step income statement can be described as an income statement in which gross profit as well as the details of each category of expenses and incomes are presented in order to obtain the total comprehensive of a firm for a specified period.

After preparing a single, continuous multiple-step statement of comprehensive income for 2018 as given in the attached excel file, the total comprehensive income of Duke Company for 2018 is calculated to be $3,136,000.

Download xlsx

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3 years ago

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3 years ago

A food manufacturer reports the following for two of its divisions for a recent year.

Over [174]

Answer and Explanation:

1. Return on investment is

= Operating Income ÷ Average invested Assets

here, average invested assets is

= (Invested assets, beginning + Invested assets, ending) ÷ 2

For Beverage Division

= $349 ÷ (($2,662 + $2,593) ÷ 2)

= $349 ÷ $2,628

= 13.28%

For Cheese Division

= $634 ÷ (($4,455 + $4,400) ÷ 2)

= $634 ÷ $4,428

= 14.32%

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= 13.02%

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= ($634 ÷ $3,925) × 100

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= $2,681 ÷ $2,628

= 1.02 times

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3 years ago

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Norma-Jean [14]

Answer:

$22,500

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3 years ago