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yanalaym [24]
2 years ago
12

Presented below is information for Blossom Company for the month of January 2022. Cost of goods sold $270,000 Rent expense $35,0

00 Freight-out 6,800 Sales discounts 7,800 Insurance expense 13,000 Sales returns and allowances 12,000 Salaries and wages expense 45,000 Sales revenue 431,000. Prepare an incomestatemnt using the multi-step format.
Business
1 answer:
trapecia [35]2 years ago
5 0

Answer and Explanation:

The preparation of the multi-step income statement is shown below:

                                        Blossom Company

                                        Income Statement

                             For the Month January 2022

Revenues  

Sales revenue           $431,000

Less:  

Sales discount -$7,800  

Sales return  -$12,000

                                                 -$19,800

Net Sales                    $411,200

Less: Cost of goods sold -$270,000

Gross Profit                    $141,200

Less: Operating expenses:  

Freight out -$6,800

Insurance expense  -$13,000  

Salaries and wages expense -$45,000

Rent expense  -$35,000

Total Operating expenses -$99,800

Operating Income                  $41,400

We simply deduct the expenses from the gross profit so that the operating income could arrive

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Your boss makes an intentional effort to understand the emotion or mood of the office at all times. Your boss uses that informat
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Explanation:

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_____ is the degree to which a company relies on a provider because of the importance of the provider's product to the company a
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Supplier dependence

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Which of these changes are planned and based on situations that are expected to arise?
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3 years ago
The Ramirez Company's last dividend was $1.75. Its dividend growth rate is expected to be constant at 25% for 2 years, after whi
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Answer:

option b is correct

current stock price is $42.64

Explanation:

given data

dividend = $1.75

growth rate = 25% for 2 year

growth rate 1 = 6%

required return 2 = 12%

to find out

current stock price

solution

we will find here first stock price after 2 year that is

stock price = cash flow at 2 year end × ( 1+rate ) / ( rate 2 - rate1 )    ..................1

so here  cash flow at 2 year end = 1.75×1.25 = 2.1875

2.1875 × 1.25 = 2.734

stock price = 2.734  × ( 1+ 0.06 ) / ( 0.12 - 0.06 )  

stock price = 48.30

so stock price at 0.12 return

= cash flow at 1 year / ( 1+ rate 2 ) + cash flow at 2 year / ( 1+ rate 2 )² + stock price / ( 1+ rate 2 )²

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= $42.64

so option b is correct

current stock price is $42.64

8 0
3 years ago
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