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KIM [24]
3 years ago
14

The following information is related to Dickinson Company for 2017.Retained earnings balance, January 1, 2017Sales revenue 25,00

0,000Cost of goods sold 16,000,000Interest revenue 70,000Selling and administrative expenses 4,700,000Write-off of goodwill 820,000Income taxes for 2017 1,244,000Gain on the sale of investments 110,000Loss due to flood damage 390,000Loss on the disposition of the wholesale division (net of tax) 440,000Loss on operations of the wholesale division (net of tax) 90,000Dividends declared on common stock $ 250,000Dividends declared on preferred stock 80,000Dickinson Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Dickinson sold the wholesale operations to Rogers Company. During 2017, there were 500,000 shares of common stock outstanding all year.InstructionsPrepare a multiple-step income statement and a retained earnings statement.
Business
1 answer:
seraphim [82]3 years ago
5 0

Answer

The answer and procedures of the exercise are attached in a microsof excel document.  

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.

Download xlsx
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A(n) _____ system is a computer-based information system that produces standardized reports in summarized structured form to sup
liraira [26]

Answer:

The management information system(MIS)

6 0
2 years ago
A company has net income of $90,000; its weighted-average common shares outstanding are 18,000. Its dividend per share is $0.45,
LekaFEV [45]

Answer:

Option B is correct (17.6)

Price-earnings ratio=17.6

Explanation:

option B is correct (17.6)

Given Data:

Net income=$90,000

Weighted-average common shares outstanding=18,000

Market price per share=$88

Book value per share=$76

Required:

Price-earnings ratio=?

Solution:

Formula:

Price-earnings ratio=\frac{Market\ price\ per\Share}{\frac{Net\ Income}{ weighted\ -\ average\ common \ shares\ outstanding } }

Price-earnings ratio=\frac{\$88}{\frac{\$90,000}{18,000}}

Price-earnings ratio=17.6

5 0
4 years ago
Read 2 more answers
Marc agrees to sell Diana 500 copies of a book for $3.50 per book. Marc breaches the contract by not delivering the books. At th
Lesechka [4]

Answer:

$500

Explanation:

Damages refer to the financial loss suffered by a party to a breached contract. It occurs as a result of one party refusing to perform their obligation in the contract, causing injury and losses to the other.

Damages are the extra expense incurred by the offended party due to the breach of contract. The calculation of damages involves getting the difference between the market price and the contract price. For Diana, the damages will be the market price of $4.50, and the contact price $3.50. Because the books were 500, her damage would be 500 X 1 = $500.

6 0
3 years ago
How would you build a culture of quality in an organization such as arnold palmer hospital?
77julia77 [94]

Explanation:

An organizational culture must be based on values ​​of integrity, ethics and reliability. Through these values, organizations achieve several benefits that directly impact the internal and external environment.

Integrity can be understood as the company's non-negotiable values, such as compliance with legal and human requirements that protect its employees and customers.

Ethics must be applied to all organizational processes and in all hierarchies, the relationship between boss and employees, as well as with suppliers and customers must be based on ethical values ​​that promote equality, respect and security of the rights of each individual.

And reliability is achieved through good practices in society and well-established values, which demonstrate good corporate governance and socio-environmental development practices.

In a hospital, for example, it is necessary for the organizational culture to be based on excellent service, in addition to effective communication, reliable professionals, quality equipment, problem solving staff, hygiene, etc., which are values ​​that demonstrate the values ​​and commitment of the institution with patient health and public service.

6 0
3 years ago
Culver Corporation earned $262,000 during a period when it had an average of 100,000 shares of common stock outstanding. The com
Westkost [7]

Answer:

a) The warrant are Dilutive

b) Basic EPS $2.62

c) Diluteed EPS = $2.31

Explanation:

a) The warrants are dilute because the cost of exercising the rights is lover than the market price

b) Basic Eps = Total Earning/Share Outstanding = $262,000/100,000 = $2.62

c) Diluted Eps = Earnings/(Shares outstanding+potential shares)

= $262,000/(100,000+13,500) = $2.31    

5 0
3 years ago
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