The accountant of Weatherspoon Shoe Co. has compiled the following information from the company's records as a basis for an income statement for the year ended December 31, 2010.Rental revenue $29,000Interest expense 18,000Market appreciation on land above cost 31,000Wages and salaries-sales 114,800Materials and supplies-sales 17,600Income tax 30,600Wages and salaries-administrative 135,900Other administrative expenses 51,700Cost of goods sold 516,000Net sales 980,000Depreciation on plant assets (70% selling, 30% administrative) 65,000Dividends declared 16,000There were 20,000 shares of common stock outstanding during the year.(a) Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, e. g. 5.25. For multiple entries list from largest to smallest amounts, e. g. 10, 5, 1. Enter all amounts as positive amounts and subtract where necessary.)
Answers: 3
Business, 21.06.2019 17:30, kevenluna10oytivm
Salvador county issued $25 million of 5% demand bonds for construction of a county maintenance building. the county has no take-out agreement related to the bonds. it estimates that 20% of the bonds would be demanded (called) by the buyers if interest rates increased at least 1%. at year-end rates on comparable debt were 7%. how should these demand bonds be reported in the government-wide financial statements at year-end? a) $25 million in the long-term liability section of the governmental activities column. b) $5 million in the current liability section of the governmental activities column and $20 million in the long-term liabilities section of the governmental activities column. c) $5 million in the governmental activities column and $20 million would be reported in the schedule of changes in long-term debt obligations. d) $25 million in the current liability section of the governmental activities column
Answers: 1
Business, 22.06.2019 03:00, oliviaberta91
What is the relationship between marginal external cost, marginal social cost, and marginal private cost? a. marginal social cost equals marginal private cost plus marginal external cost. b. marginal private cost plus marginal social cost equals marginal external cost. c. marginal social cost plus marginal external cost equals marginal private cost. d. marginal external cost equals marginal private cost minus marginal social cost. marginal external cost a. is expressed in dollars, so it is not an opportunity cost b. is an opportunity cost borne by someone other than the producer c. is equal to two times the marginal private cost d. is a convenient economics concept that is not real
Answers: 3
The accountant of Weatherspoon Shoe Co. has compiled the following information from the company's re...
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