1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
qaws [65]
3 years ago
8

In its income statement for the year ended December 31, 2019, Sheridan Company reported the following condensed data. Operating

expenses $ 759,720 Interest revenue $ 29,970 Cost of goods sold 1,334,200 Loss on disposal of plant assets 15,910 Interest expense 71,270 Net sales 2,416,300 Other comprehensive income 6,920. Prepare a multiple-step income statement. (List other revenues before other expenses.)
Business
1 answer:
olga55 [171]3 years ago
6 0

Answer&Explanation:

Net Income Statment for the Year Ended December 31,2019

Net sales 2,416,300

Cost of goods sold (1,334,200)

<em>Gross Profit 1,082,100 Sales - COGS</em>

Operating expenses  (759,720)

<em>Operating Income     292,380 Gross Profit - Operating Expenses</em>

Interest revenue  29,970

Interest expense (71,270)

Loss on disposal of plant assets (15,910)

<em>Other Income (57210)</em>

<em />

<em>Net income 235,170 Operating Income + Other income</em>

Other comprehensive income 6,920.

<em>Comprehensive Income 242,090 Net Income - OCI</em>

You might be interested in
Place the following obligations as a corporation (as identified by Archie B. Carroll) in order, starting with the highest-level
BabaBlast [244]

Explanation:

1. Being a good global corporate citizen

2. Being ethical in its practices

3. Obeying the law

4. Making a profit

According to Archie B. Carroll,

The first one is Being a good global corporate citizen: How a good citizen is important for the country, being a good global corporate citizen is equally important for the corporate world.

The second one is the ethical practices: This is very closely related to citizenship. There are some professional ethics to be maintained for a corporate world to grow.

The third is obeying the law: Definitely, employees have to adhere to the rules of the organization which is an important aspect for the growth of the organization and to the corporate world.

The last is making a profit: The final part is profit. According to my personal opinion if all the above are followed, profit will reach the organization.

3 0
3 years ago
Terrance is very skilled in biological research and the scientific principles guiding his work. He is also punctual, well-organi
Veronika [31]

Answer:

<em>Transferable skills</em>

Explanation:

Transferable skills <em>include all abilities that you may have, that are helpful to companies throughout different employment and sectors. </em>

They may involve abilities that companies pursue in powerful applicants such as versatility, organisation, sportsmanship or other characteristics.

These skills can be used when searching for a new job to place your previous experience, especially if it's in another sector.

5 0
3 years ago
Government debt in the United States can be categorized a number of different ways. For each debt definition below, please indic
Nitella [24]

Answer:

Explanation:

The national debt includes ;Treasury bonds bought by a little old lady in Peoria

The public debt includes ;Treasury bonds bought by the Social Security Administration, First National Bank of Dallas the government of China First National Bank of Dallas a citizen of Germany the government of China a citizen of Germany a little old lady in Peoria the Social Security

Administration Internally held debt includes; bonds owned by the Social Security, Administration First National Bank of Dallas the government of China a citizen of Germany a little old lady in Peoria.

Externally held debt includes bonds owned by the Social Security Administration First National Bank of Dallas the government of China a citizen of Germany a little old lady in Peoria

7 0
3 years ago
(Economics)
riadik2000 [5.3K]

Answer:

D.whene the fed buys Treasury bonds,there are more bonds on

3 0
3 years ago
A Joe and Jorge both graduated from an engineering college and decided to donate money to their college. They set up 10 engineer
AfilCa [17]

Answer:

Each scholarship will have an amount of $ 85,000.

Explanation:

Since Joe and Jorge both graduated from an engineering college and decided to donate money to their college, and they set up 10 engineering scholarships per year starting in 2046 for every year, if $ 50,000 is invested in the trust fund in the year 2021 and if it earns a very good rate of return of 12% per year, to determine what will the amount of each scholarship be starting in 2046 the following calculation must be performed:

(50,000 x 1.12 ^ (2046-2021)) / 10 = X

(50,000 x 1.12 ^ 25) / 10 = X

850,003.22 / 10 = X

85,000.32 = X

Therefore, each scholarship will have an amount of $ 85,000.

8 0
3 years ago
Other questions:
  • What is quality control?
    12·1 answer
  • Compute the discounted payback statistic for Project C if the appropriate cost of capital is 7 percent and the maximum allowable
    12·1 answer
  • What does neglect include
    12·1 answer
  • A random sample of 30 lunch orders at noodles and company showed a mean bill of $10.36 with a standard deviation of $5.31. find
    15·1 answer
  • Schister Systems uses the following data in its Cost-Volume-Profit analyses: Total Sales $ 400,000 Variable expenses 220,000 Con
    11·1 answer
  • Expected direct materials purchases in Metlock Company are $204000 in the first quarter and $264000 in the second quarter. 35 pe
    14·1 answer
  • true or false filtering data in Excel online keeps all data on the screen and highlights the content that fits your criteria​
    5·2 answers
  • Coolidge Company owes $1,000 for merchandise inventory purchased from Ross Company during April. The amount owed is now past-due
    6·1 answer
  • If income increases by $100 and consumption increases by $75, the slope of the consumption function equals _____.
    8·1 answer
  • Discuss how an entrepreneur can use the following things to benefit a business: 1 Capital 2 Raw materials 3 Business location?​
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!