Project: How Entrepreneurs Improve the Economy

The following information was taken from the records of Marigold Inc. for the year 2020: Income tax applicable to income from co

ivolga24 [154]

Answer:

Net income is $312,610.

Explanation:

This can then be prepared as follows:

Marigold Inc.

Single-Step Income Statement

For the Year 2020

Particulars $ $

Revenue

Sales Revenue 1,634,000

Rent revenue 34,400

Gain on sale Of equipment 81,700

Total revenue 1,750,100

Expenses

Cost of goods sold (731,000)

Selling expenses (258,000)

Administrative expenses (206,400)

Loss on write-down of inventory (51,600)

Total expenses  (1,247,000) 

Operating income before tax 503,100

Tax on income from continuing

operations (160,820)

Income from operation after tax 342,280

Other income (loss ) (net of tax)

Unrealized holding gain on

available-for-sale securities (net of tax) 12,900

Income from continuing operations

after tax 355,180

Discontinued operations

Loss on discontinued operations

before tax (64,500)

Tax on loss on discontinued operations 21,930

Loss on discontinued operations after tax (42,570)

Net income  312,610 

Earning per share

(Net income / Number of Shares outstanding) 3.13

5 0

3 years ago

the 360 degree feedback performance appraisal system tries to improve performance ratings by forcing managers to :

olga nikolaevna [1]

Answer:

Include information from a wide range of sources in their reviews.

Explanation:

Performance appraisal refers to the evaluation of employees' performance by the human resource managers in an organization. The 360-degree feedback performance appraisal system is a type of performance appraisal that sources information about an employee from various sources, which ranges from subordinates, lateral and supervisory sources. This implies that the manager seeks to gain insight about the employee from his fellow employees, from his supervisors, his subordinates, and sometimes from external sources such as the customers who interact with that employee on a daily basis.

Most managers use this system of appraisal for developmental purposes and evaluation of an employee's performance. Information sourced can then be used to help the employees improve on their skills or promote/demote them.

5 0

3 years ago

The flow of information and ideas from one person to another involving a sender method of transmitting the idea or content and r

Deffense [45]

Answer:

Communication

Explanation:

Communication is the exchange and flow of information and ideas from one person to another; it involves a sender transmitting an idea, information, or feeling to a receiver

5 0

2 years ago

Generally speaking, oligopolistic industries producing raw materials and semifinished goods usually offer differentiated product

LenaWriter [7]

Answer:

B) False

Explanation:

The correct phrase should be:

Generally speaking, oligopolistic industries producing raw materials and semifinished goods usually offer standardized products, while oligopolists producing consumer goods usually offer differentiated products.

An example of an oligopolistic industry that we all know about is the car industry. There are very few car companies in the world since only very large companies can actually manufacture cars. Car companies offer differentiated products.

8 0

3 years ago

1976, the cost of a movie was $4. in 2012, it's $9. if the cpi for 1976 is 56, and 228 for 2012. how much is the cost of a 1976

ivann1987 [24]

$10.29 I'm not sure but hope I'm right

7 0

3 years ago