All categories

2 years ago

You are provided with the following information for Sandhill Co., effective as of its April 30, 2022, year-end.

Business

1 answer:

Ray Of Light [21]2 years ago

7 0

Answer:

SANDHILL CO.

Income Statement

For the Year Ended April 30, 2022

<u>Revenues</u>

Sales revenue $6,200

<u>Expenses</u>

Cost of Goods Sold $1,000

Depreciation expense $315

Income tax expense $175

Insurance expense $360

Interest expense $460

Salaries & Wages expenses <u>$850</u>

Total Expenses <u>$3,160</u>

Net Income <u>$3,040</u>

<u />

SANDHILL CO.

Retained Earnings Statement

For the Year Ended April 30, 2022

Retained Earnings, May 1, 2021 $1,700

Add: Net Income <u>$3,040</u> $4,740

Less: Dividends <u>$310 </u>

Retained Earnings, April 30, 2022 <u>$4,430</u>

You might be interested in

A company's Income Tax Payable account decreased from $14 million to $12 million during the year. If its income tax expense was

Flura [38]

Answer:

A cash outflow of $82 million is correct answer

Explanation:

Options:

A cash outflow of $12 million.

A cash outflow of $78 million.

A cash outflow of $80 million.

A cash outflow of $82 million.

(Hope this helps can I pls have brainlist (crown)

8 0

2 years ago

Read 2 more answers

according to one-period model of macroeconomics which of the following statements is correct about an economy engaging in a war

KIM [24]

Option (b) for a response. In order to keep the expenditure multiplier from exceeding 1, output must increase while consumption must decrease.

<h3>Spending multiplier: What does it tell you?</h3>

An economic indicator of the impact that changes in government spending and investment have on a nation's Gross Domestic Product is the expenditure multiplier, often known as the fiscal multiplier.

<h3>When the multiplier is negative, what does that mean?</h3>

The negative multiplier effect happens when a spending leak or initial withdrawal from the circular flow has further impacts and a larger final decline in real GDP.

<h3>Why does multiplier exceed 1?</h3>

The rise in the national product indicates a rise in national income. Consumption demand rises as a result, and businesses produce to satisfy it. As a result, the increase in investment is greater than the increase in national income and product. There is a multiplier effect that exceeds one.

Learn more about expenditure multiplier: brainly.com/question/28140364

#SPJ4

4 0

1 year ago

Which lists the Business, Management, and Administration careers in order from highest level of education typically required to

Rama09 [41]

Answer:

Operations Research Analyst, Accountant, Data Entry Clerk, Intern

Explanation:

Most employers insist that operations research analysts have a master's degree. In practice, one needs a minimum of a bachelor's degree to become an operation research analyst. Most accountants attend college have a bachelor's degree, although it's not mandatory.

Interns are mostly college students. Since they have not graduated, they should have the least educational qualification, followed by clerks.

5 0

2 years ago

Read 2 more answers

At the end of Year 2, retained earnings for the Baker Company was $1,850. Revenue earned by the company in Year 2 was $2,100, ex

icang [17]

Answer

Retained earnings at the beginning of Year 2 was: $1,450

Explanation

Revenue = $2,100

Retained Earnings Closing Balance = $1,850

Expenses = $1,150

Dividends = $550

Retained Earnings Closing Balance = Revenue - Expenses - Dividends + Retained Earning Beginning Balance

$1,850 = $2,100 - $1,150 - $550 + Retained Earning Beginning Balance

Retained Earning Beginning Balance = $1,450

5 0

3 years ago

Cornerstone, Inc. has $125,000 of inventory that suffered minor smoke damage from a fire in the warehouse. The company can sell

kotegsom [21]

Answer:

Alternative of cleaning and shipping is better as loss value is less.

Relevant cost of this alternative is $23,000 incurred for cleaning and shipping.

Explanation:

Evaluating both the proposals

In case the goods are sold as it is then net cost/ loss = Carrying value of inventory - Sales Revenue

= $125,000 - $45,000 = $80,000

In case the goods are cleaned and shipped then

Total cost = $125,000 + $23,000 = $148,000

Revenue = $80,000

Net loss/ cost = $148,000 - $80,000 = $68,000

Thus Since the loss value is less i alternative 2 that is of cleaning and shipping, it shall be chosen.

The relevant cost of that alternative is $23,000 incurred in cleaning and shipping.

4 0

3 years ago