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3 years ago

Star co.had sale revenue £540000 in 2015

Business

1 answer:

Virty [35]3 years ago

3 0

Answer:

Net income $55,000

Earnings per common share $0.55

Explanation:

Preparation of a single-step income statement for Starr for 2015.

Starr Co. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2015

REVENUES

Sales revenue $540,000

Total revenues $540,000

EXPENSES:

Cost of goods sold $330,000

Salaries and wages expense $120,000

Income tax expense $25,000

Other operating expenses $10,000

Total expenses $485,000

($330,000+$120,000+$25,000+$10,000)

Net income $55,000

($540,000-$485,000)

Earnings per common share $0.55

($55,000 ÷ 100,000 shares)

Therefore single-step income statement for Starr for 2015 will have a Net income of $55,000 and Earnings per common share of $0.55.

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Alinara [238K]

Answer:

Straight salary compensation plan

Explanation:

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3 years ago

What is it meant by economies of scale?

joja [24]

Economies of scale refers to the cost advantage that emerges or become visible with higher or improved output of a product. There is an inverse relationship between the quantity proposed and per unit fixed costs therefore, if the product or good is produced in large or high quanity the per unit fixed cost goes down because it can already be shared with other large number of goods. There are two types of economics of sale, the internal and of course the external.

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3 years ago

Tax incidence is the A. burden sellers have to absorb from a tax on goods and services. B. deadweight loss created by a tax. C.

dybincka [34]

Answer:

E. Division of the burden of a tax between the buyer and the seller

Explanation:

Tax incidence is an economic term for the division of a tax burden between buyers and sellers. Tax incidence is related to the price elasticity of supply and demand. When supply is more elastic than demand, the tax burden falls on the buyers. If demand is more elastic than supply, producers will bear the cost of the tax.

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3 years ago

In this equation what should be the coefficients of the reactant and products I2+O2->i4O9

katrin2010 [14]

The correct answer is C.

For the equations to be balanced, the coefficients must make the number of atoms of the reactants and products the same across the equation. The other answer options leave the reactants having too many atoms and the product lacking. So the only properly balanced option is answer choice C.

So the completed balanced equation is:
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I hope this helps! :)

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2 years ago

During its first year of operations, Eastern Data Links Corporation entered into the following transactions relating to sharehol

gizmo_the_mogwai [7]

Answer:

Eastern Data Links Corporation

Journal entries

Step 1.

Issuance for Common stock at a premium in exchange for cash

Feb 12,

Dr. Cash account with $18,000,000

Cr. $1 Ordinary share Capital Account with $2,000,000

Cr. Ordinary share premium Account with $16,000,000

(Being $18million received for 2million shares valued at $1 and sold at a premium of $9)

Step 2.

Issuance for Common stock at a premium in settlement of a liability due

Feb 13,

Dr. Accounts Payable account with $360,000

Cr. $1 Ordinary share Capital Account with $40,000

Cr. Ordinary share premium Account with $320,000

(Being $360,000 legal expense liquidation in exchange of 40,000 shares valued at $1 and sold at a premium of $9)

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3 years ago