All categories

3 years ago

Presented below is information related to Splish Company at December 31, 2020, the end of its first year of operations.

Business

1 answer:

elena-s [515]3 years ago

8 0

Answer:

a. $131,880

b. $167,310

c. $156,050

d. $151,390

Explanation:

(a) Income from operations

Income from Operations is Income resulting from Primary Trading Activities of the Company.

Income from Operations = Gross Profit + Operating Income - Operating Expenses

where,

Gross Profit = Sales - Cost of Goods Sold

= $334,910 - $149,030

= $185,880

thus,

Income from Operations = $185,880 - $54,000 = $131,880

(b) Net income

Income resulting from Primary and Secondary Trading Activities of the the Company.

Net income = Income from Operations + Non Operating Income - Non Operating Expenses

= $131,880 + $32,710 + $9,080 - $6,360

= $167,310

Income from both Continuing and Non - Continuing Activities.

Comprehensive income = Net income + Non - Continuing Activities

= $167,310 - $11,260

= $156,050

(d) Retained earnings balance at December 31, 2020

The Income remaining after distributions to shareholders have been made.

Retained earnings = Comprehensive income - Dividends

= $156,050 - $4,660

= $151,390

You might be interested in

Fergie has the choice between investing in a State of New York bond at 4.1 percent and a Surething Inc. bond at 6.8 percent. Ass

iragen [17]

Answer:

The state of New York should offer bonds at 4.76% to make indifference to purchase their bonds than Surething Inc.

Explanation:

the corporation has to pay income taxes while the State of New York do not pay for income taxes thus his yield is after-tax.

Surething Inc after tax rate:

pre-tax x (1 - tax-rate) =6.8% x ( 1 - 30%) = 0.068 x (1-0.30) = 0.0476 = 4.76%

Currently the corporation bond yield a higher rate than the State of New york (4.76% against 4.10%)

7 0

3 years ago

What is a form of predictive analytics for marketing campaigns that attempts to identify target markets or people who could be c

Assoli18 [71]

The given statement belongs to "Uplift modelling" concept.

Explanation:

In analytical CRM Concept

Uplift modeling , customer segmentation and Website personalization are exist.

Uplift Modeling is an observational marketing method that forecasts the variance in the behaviour of consumers of a marketer's actions.

It splits the audience into groups that respond to the marketing camp against a control group based on the expected disparity.

3 0

3 years ago

Wei lives in Beijing where most consumers value thriftiness and perseverance, and relationships are gradually established with t

aleksley [76]

Answer:

d. long-term orientation

Explanation:

Based on the information provided within the question it can be said that this is an example of a culture high in long-term orientation . This term refers to placing all resources and focus on the long term future of something in order to make sure it lasts for as long as possible and provides great benefits far off in the future. Which is what the consumers in Beijing seem to value the most.

8 0

3 years ago

Behavioral economistsLOADING... attribute some consumer behavior to the endowment effect. Which of the following is an example o

mestny [16]

Answer: Option C

Explanation: As per the subject matter of behavioral economics, endowment effect refers top the phenomenon under which it is assumed that a rational individual will retain a commodity he or she already owns rather than acquiring the same commodity if he do not own it.

Hence from the above we can conclude that correct option is C as it states that one will not sell a painting even though at a price that the holder would pay to purchase it himself.

6 0

3 years ago

Target profit is $100,000; fixed overhead costs are $120,000 and fixed selling and administrative costs are $50,000. If total va

vlada-n [284]

Answer:

40%

Explanation:

The markup percentage to the variable cost using the variable cost method can be obtained by dividing the addition of the target profit and total fixed cost by the total variable cost as follows:

Total fixed cost = Fixed overhead costs + Fixed selling and administrative costs = $120,000 + $50,00 = $170,000

The markup percentage to the variable cost = (Target profit + Total fixed cost) / Total variable cost = ($100,000 + $170,000) / $675,000 = $270,000 / $675,000 = 0.40, or 40%.

Therefore, the markup percentage to the variable cost using the variable cost method is 40%.

3 0

3 years ago