The government can shift or influence supply in a market by providing subsidies (money) to businesses or by taxing them heavily.

Rent revenue $6540 Sales discounts $7830 Interest expense 13260 Selling expenses 99710 Beginning retained earnings 114930 Sales

Stels [109]

Answer:

Income Statement

Sales Revenue $ 402.000

Sales discounts -$ 7.830

Sales returns and allowances -$ 12.740

Net Revenue $ 381.430

Net Income -$ 22.779

Income attributable to controlling stockholders

Net Income -$ 22.779

Allocation to noncontrolling interest -$ 19.720

Income attributable to controlling stockholders -$ 62.219

Explanation:

Total Net revenue it's calculated with the Sales Revenue less Sales discounts and Returns and allowances.

Net Income it's calculated with the total Net Sales minus cost of goods sold, Expenses, Interest and Taxes for a determinated period.

To calculate the income to controlling stockholders it's necessary to subtracted at the end of the statement which they do not own.

Income Statement

Sales Revenue $ 402.000

Sales discounts -$ 7.830

Sales returns and allowances -$ 12.740

Net Sales $ 381.430

Cost of goods sold -$ 188.417

Gross Profit $ 193.013

Administrative Expenses -$ 80.660

Selling Expenses -$ 99.710

Other Income Rent Revenue $ 6.540

Net Income BEFORE Taxes $ 19.183

Interest Expenses -$ 13.260

Net Income BEFORE Taxes $ 5.923

Income Taxes -$ 28.702

Net Income -$ 22.779

Allocation to noncontrolling interest -$ 19.720

Income attributable to controlling stockholders -$ 62.219

4 0

3 years ago

Splish Corporation has retained earnings of $707,000 at January 1, 2020. Net income during 2020 was $1,428,500, and cash dividen

BartSMP [9]

Answer:

Explanation:

Statement of retained earning represent the changes in retained earning balance during the year and accumulated beginning balance of the period and Ending balance as well. It deals with all the adjustment in retained earning like net income transfer fro the year, dividend paid during the year etc.

Splish Corporation

Retained Earning Statement

for the year ended December 31, 2020

$

Retained Earning at January 1, 2020 707,000

Less: Cash Dividend paid during 2020 85,000

Add: Net Income for the year 2020 1,428,500

Retained Earning ath December 31 2020 2,050,500

5 0

2 years ago

Which one of the following is not a physical control? Group of answer choices Bank safety deposit boxes for important papers Ind

VashaNatasha [74]

Answer: Independent bank reconciliations.

Explanation:

A bank reconciliation is a process by which the records of a bank account are verified to be correct, by comparing the personal records with the records that appear on the bank statement. This process is usually done independently when a company wants to audit its accounts and reconcile its processes.

Because this is a review of bank accounts (savings, payroll, checking accounts), no physical control is needed to do it, but rather a monetary control.

I hope this information can help you.

7 0

3 years ago

Wayman Corporation reports the following amounts in its December 31, 2021, income statement.

MrRissso [65]

Answer:

Wayman Corporation

Multiple-step income statement

Sales $425,000

Less: Cost of goods sold $135,000

Gross Profit $290,000

Operating Expenses

Salary Expenses $45,000

Utility Expenses $55,000

Advertising Expenses $35,000

Total Operating Expenses ($135,000)

Net Operating Income $155,000

Other Income and Expenses

Interest expense $25,000

Net Income before Tax $130,000

Income tax expense $55,000

Net Income $75,000

6 0

3 years ago

What do symbols involve?

wariber [46]

Alllll of thooseeeeeeeee

8 0

2 years ago

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