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agasfer [191]
3 years ago
9

Consider the following

Business
1 answer:
Aliun [14]3 years ago
6 0
It is c your welcome
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Presented below is information related to Splish Company at December 31, 2020, the end of its first year of operations.
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Answer:

a. $131,880

b. $167,310

c. $156,050

d. $151,390

Explanation:

(a) Income from operations

Income from Operations is Income resulting from Primary Trading Activities of the Company.

Income from Operations = Gross Profit + Operating Income - Operating Expenses

where,

Gross Profit = Sales - Cost of Goods Sold

                    = $334,910 - $149,030

                    = $185,880

thus,

Income from Operations = $185,880 - $54,000 = $131,880

(b) Net income

Income resulting from Primary and Secondary Trading Activities of the the Company.

Net income = Income from Operations + Non Operating Income - Non Operating Expenses

                   = $131,880 + $32,710 + $9,080 - $6,360

                   = $167,310

(c) Comprehensive income

Income from both Continuing and Non - Continuing Activities.

Comprehensive income = Net income + Non - Continuing Activities

                                         = $167,310 - $11,260

                                         = $156,050

(d) Retained earnings balance at December 31, 2020

The Income remaining after distributions to shareholders have been made.

Retained earnings = Comprehensive income  - Dividends

                               = $156,050 - $4,660

                               = $151,390

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In​ class, we discussed the differences between a contribution income statement versus the traditional approach​ (absorption whi
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B) Contribution margin
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If a country has a trade surplus, then the country Group of answer choices imports as much as it exports imports more than it ex
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exports more than it imports

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Trade surplus is when export exceeds import.

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Import is the sum total of goods and services bought from other countries. If a laptop manufactured in China is sold to someone in the US, this is import

Trade deficit is when a country imports more than it exports

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When a company wants to design a new wireless headset it invited a group of interested users to comment on and try out various p
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