1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
olga nikolaevna [1]
3 years ago
6

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

(c) Comprehensive income

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
Derst Inc. sells a particular textbook for $27. Variable expenses are $20 per book. At the current volume of 43,000 books sold p
NISA [10]

Answer:

d. 301,000

Explanation:

Given that the cost per textbook is $27, we know that the addition of variable and fixed Cost gives total cost.

We will multiply variable cost per textbook of $20 with current volume of book sold per year 43,000, which gives a total variable cost of $860,000.

Also, total cost would be 43,000 multiplied with $27 , which is $1,161,000 minus the total variable cost of $860,000 equals $301,000 which is the associated fixed cost.

8 0
2 years ago
Economists believe that an activity should be continued up to the point where
Goryan [66]
The marginal benefit from the activity is equal to the marginal cost
4 0
3 years ago
Antonio has $11.00 to spend on a lunch consisting of hamburgers ($1.50 each) and French fries ($1.00 per order). Antonio's satis
saveliy_v [14]

Answer: <em>$4. 71 hamburger and $6.29 French fries. </em>

Explanation:

Total spendable income of Antonio = $11.00  

1 hamburger = $1.50

1 order of French fries = $1.00

Utility maximization function: U(x1, x2) = x1x2 i.e. 1 hamburger and 2 orders of French fries

Using the Utility maximization function: U(x1, x2) = $1.50 + $2.00

                                                                                      = $3.50 per lunch  

Therefore the customer will purchase hamburger worth of $(1.50 x 11.00/3.50) = $4. 71

And French fries orders worth of $(2.00 x 11.00/3.50) = $6.29

<em>Antonio will maximize his satisfaction by purchasing $4. 71 hamburger and $6.29 French fries. </em>

3 0
3 years ago
Which multimedia and animation professional would you require to create this image for an animation sequence about a lost zebra?
Anon25 [30]
<span> storyboard artist background</span>
6 0
3 years ago
Read 2 more answers
Assume University Athletic Pharoah Club sells T-shirts for $30 and anticipates selling 6,700 shirts during football season. The
den301095 [7]

The preparation of the University Athletic Pharaoh Club's Income Statement in the contribution margin format is as follows:

University Athletic Pharaoh Club

<h3>Income Statement</h3>

For the football season

Sales Revenue                $201,000

Variable cost of sales        155,574

Contribution margin       $45,426

Fixed Costs:

Selling and administrative 33,526

Net Income                       $11,900

<h3>Data and Calculations:</h3>

Sales revenue = $201,000 ($30 x 6,700)

Cost of sales = $155,574 ($23.22 x 6,700)

Fixed Costs = $35,000

Sales commission = $1,474 ($0.22 x 6,700)

Remaining fixed costs = $33,526

Thus, the income statement of University Athletic Pharaoh Club for the football season shows a net income of $11,900.

Learn more about Contribution-Margin Income Statement at brainly.com/question/24962994

#SPJ1

3 0
2 years ago
Other questions:
  • Requirements for Negotiability.1. Be in writing:2. Be signed by the maker or the drawer:3. Be an unconditional promise or order
    15·1 answer
  • A pattern of relationships and accountability between a superior and his or her subordinates is established by the process of:
    11·1 answer
  • An antiques dealer buys a grandfather clock for $200. she sets the selling price at $350. when the clock doesn't sell after two
    10·1 answer
  • Andrew owns land (adjusted basis of $94,400) that he uses in his business. He exchanges the land and $47,200 in cash for a diffe
    8·1 answer
  • The section of the continuity plan that provides instructions for all personnel is the:
    10·1 answer
  • If the risk-free interest rate is 9% per year, what must be the price of a 3-month put option on P.U.T.T. stock at an exercise p
    15·1 answer
  • If your company has a large production-related task, such as assembling an airplane, what strategy could help you increase produ
    10·1 answer
  • Some discount stores put products in large bins and let consumers hunt and find bargains.
    13·1 answer
  • Precise Machinery is analyzing a proposed project that is expected to sell 1,450 units, ±3 percent. The expected variable cost p
    9·1 answer
  • Why has the financial crisis raised the average of people retiring?​
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!