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Pavlova-9 [17]
3 years ago
8

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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3 years ago
Suppose that a planet fitness studio has fixed expenses of $7500 per month and variable expenses of $4.99 per member per month.
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gary and felix are partners of a general partnership. gary does two-thirds of the partnership work, while felix does one-third o
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In a partnership, parties who are referred to as business partners agree to work together to further their shared objectives. Individuals, companies, interest-based organisations, schools, governments, or combinations of these may be the partners in a partnership.

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brainly.com/question/9909227

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