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Rus_ich [418]
3 years ago
13

After multiple years of building a business in the same location, Timothy has

Business
1 answer:
DanielleElmas [232]3 years ago
6 0

Answer: B. Timothy has been leasing his space, the lease has expired, and the owner of the property does not wish to renew.

Explanation:

A lease refers to a written agreement whereby a lessor leases his property to the lessee for a period of time and the owner of the property gets paid for the period that the property is leased out.

In this case, since Timothy needs to vacate the building where his business has always been after some number of years, it simply means that Timothy leased the space and the owner doesn't want to renew the lease.

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The trial balance for Lindor Corporation, a manufacturing company, for the year ended December 31, 2016, included the following
Maurinko [17]

Answer:

Net income = $364,000

Earning per share (EPS) = $0.36 per share.

Explanation:

A continuous multiple-step statement of comprehensive income is a form of income statement shows in a categorical and continuous manner operating income, i.e. the profit earned from the primary activities of an entity through buying and selling merchandise, other income and expenses, and net income.

For this question, continuous multiple-step statement of comprehensive income can be prepared as follows:

Lindor Corporation

Multiple-step Statement of Comprehensive Income for 2016

<u>Details                                                                  $      </u>

Sales revenue                                            2,300,000

Cost of goods sold                                    <u> 1,400,000 </u>

Gross profit                                                   900,000

Operating expenses:

Selling and administrative expenses        <u> (420,000) </u>

Operating income                                        480,000

Non operating income and exp.:

Unrealized holding gains on inv. sec.          80,000

Interest expense                                          <u> (40,000) </u>

Income before tax                                        520,000

Income tax (30% * $520,000)                    <u> (156,000) </u>

Net income                                                  <u>  364,000 </u>

EPS (364,000 / 1,000,000)                                 0.36

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3 years ago
If you are busy with another customer when someone comes in, what can you do? select one:
prohojiy [21]
Ab. smile at them and make eye contact while you continue to help the first customer so they know they were recognized and not being ignored.
7 0
3 years ago
On October 10, the stockholders’ equity of Sherman Systems appears as follows. Common stock–$10 par value, 77,000 shares authori
Vikki [24]

Answer:

See the explanation below:

Explanation:

1. Prepare journal entries to record the following transactions for Sherman Systems

a. Purchased 5,500 shares of its own common stock at $30 per share on October 11.

<u>Details                                                            Dr ($)               Cr ($)   </u>

Treasury Stock (5,500 × 30)                         165,000

Cash                                                                                      165,000

<u><em>To record the repurchase of own common stock                            </em></u>

b. Sold 1,125 treasury shares on November 1 for $36 cash per share.

<u>Details                                                            Dr ($)               Cr ($)     </u>

Cash (1,125 × 36)                                            40,500

Treasury Stock (1,125 × 30)                                                  33,750

Paid-in Capital from Sale of Treasury Stock                        6,750

<em><u>To record the sale of treasury stock.                                                      </u></em>

c. Sold all remaining treasury shares on November 25 for $25 cash per share.

<u>Details                                                                Dr ($)               Cr ($)     </u>

Cash (4,375 × 25)                                                109,375

Paid-in Capital from Sale of Treasury Stock       6,750

Retained Earnings                                                15,125

Treasury Stock 99,000 (4,375 × 30)                                       131,250

<em><u> To record the sale of the remaining treasury shares                               </u></em>

Kindly note that there is a balance of $6,750 in the Treasury Stock Paid-in Capital account. Since it is utilized, the remaining deficit will show in Retained Earnings.

2. Prepare the stockholders' equity section after the October 11 treasury stock purchase.

<u>Details                                                                                            $     </u>

77,000 issued authorized common stock–$10 par value    770,000

Paid-in capital in excess of par value, common stock           241,000

Retained earnings                                                                    904,000

Treasury stock                                                                        <u> (165,000)</u>

Total stockholders’ equity                                                      <u>1,750,000</u>

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Correct Answer, D all of the above. Each answer is a positive source of communication for telecommuters.


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