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lilavasa [31]
3 years ago
14

Uh is edge supposed to have blank sections? Proof is below!

Business
1 answer:
Charra [1.4K]3 years ago
7 0

Answer:

nope as long as I remember

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Wayman Corporation reports the following amounts in its December 31, 2018, income statement. Sales revenue $ 376,000 Income tax
NemiM [27]

Answer:

                                          <u>Wayman Corporation</u>

                <u>Income statement for the year ended December 31, 2018</u>

                                                        Amount in $       Amount in $

Sales revenue                                                              432,000    

Cost of goods sold                                                       <u>(136,000)</u>

Gross profit                                                                  296,000

<u>Operating expenses</u>

Salaries expense                                   46,000

Advertising expense                             36,000

Utilities expense                                    56,000          (138,000)

Operating income                                                         158,000

<u>Non-operating or other</u>

Interest expense                                                           (26,000)

Income before income taxes                                        132,000

Income tax expense                                                    <u> (56,000)</u>

Net income                                                                  <u> </u><u>   76,000</u>

Explanation:

A multiple income statement is one in which incomes and expenses are classified under operating and non-operating heads. Like other forms of income statement, it shows the income and expenses of an entity for a given period of time.

5 0
3 years ago
January 1, 2021, Woody Forrest Corporation granted executive stock options to purchase 41,000 of its common shares at $9 each. T
ICE Princess25 [194]

Answer:

174,250 shares

Explanation:

The computation of the number of shares to be used in computing diluted earnings per share is shown below:

Proceeds from exercise of options (a)  $369,000  (41,000 shares × $9)

Used to repurchased for common stock (b) 30,750 shares (41,000 shares × $9 ÷ $12)

Number of shares for exercised (c)                           41,000 shares

Less: repurchased shares (d)                                    -30,750 shares

Diluted common shares {e = c - d}                             10,250 shares

Add: Common shares (f)                                             164,000 shares

Total number of shares for diluted earning per share 174,250 shares

We ignored the market price of common stock as it is not relevant.

8 0
3 years ago
Lidell Inc. budgeted production of 48,000 personal journals in 20Y6. Each journal requires assembly. Assume that three minutes a
mote1985 [20]

Answer:

Direct labor cost= $31,200

Explanation:

Giving the following information:

Production= 48,000 units

Standard time= 3 minutes per unit

Rate= $13 per hour

First, we need to calculate the number of hours required:

The proportion of minuted per hour= 3/60= 0.05

Number of hours= 48,000*0.05= 2,400 hours

Now, the direct labor cost:

Direct labor cost= 2,400*13= $31,200

7 0
3 years ago
The stock of Mulberry Corporation is owned by Archana (60%) and Anar (40%), who are mother and daughter. Pursuant to a plan of c
Phoenix [80]

Answer:

There is loss of $109,120

Explanation:

Lossrecognized=Marketvalue−Purchasevalue

=$1773200-1364000

Therefore, loss recognized by “M” Corporation is $409,200

Determine the gain or loss of A:

LossbyA=Purchasevalue−Liability−ActualbasisofM

=[($1364000-$1091200)×40%]−$218240

=$109120−$218240

=($109,120)  loss

​

4 0
3 years ago
Read 2 more answers
The U.S. work week has declined from 60 hours in 1890 to 40 hours today. The impact of the decline in working hours:________
Len [333]

Answer:

It will Decreases U.S. real GDP and on the other way round it will increases the well-being of a typical working person in the U.S.

Explanation:

The impact of the decline in working hours is that it will Decreases U.S. real GDP and on the other way round it will definitely lead to increase in the well-being of a typical working person in the U.S. because of the decline in the U.S work week which was formally 60 hours in the 1980 but now 40 hours today because a typical working person will have more time for him/her and the stress involved in working for 60 hours per week will reduce when compared with working for 40 hours per week because a typical working person in the U.S will preferred to work for 40 hours per week than 60hours per week for the betterment of their well being.

4 0
3 years ago
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