![Business](/tpl/images/cats/ekonomika.png)
Business, 16.10.2020 14:01, sarahgrindstaff123
The following incorrect income statement was prepared by the accountant of the Axel Corporation:
AXEL CORPORATION Income Statement For the Year Ended December 31, 2021 Revenues and gains:
Sales revenue $660,000
Interest revenue 39,000
Gain on sale of investments 86,000
Total revenues and gains 785,000
Expenses and losses:
Cost of goods sold $360,000
Selling expense 66,000
Administrative expense 86,000
Interest expense 23,000
Restructuring costs 62,000
Income tax expense 47,000
Total expenses and losses 644,000
Net Income $141,000
Earnings per share $1.41
Required:
Prepare a multiple-step income statement for 2018 applying generally accepted accounting principles. The income tax rate is 40%.
![answer](/tpl/images/cats/otvet.png)
Answers: 1
Other questions on the subject: Business
![image](/tpl/images/cats/ekonomika.png)
Business, 21.06.2019 19:00, skcats7353
Ashare stock is a small piece of ownership in a company ture or false
Answers: 2
![image](/tpl/images/cats/ekonomika.png)
Business, 22.06.2019 15:40, kaitlynmorgan43
The cost of direct labor used in production is recorded as a? a. credit to work-in-process inventory account. b. credit to wages payable. c. credit to manufacturing overhead account. d. credit to wages expense.
Answers: 2
![image](/tpl/images/cats/ekonomika.png)
Business, 22.06.2019 16:40, yovann
Consider two similar industries, portal crane manufacturing (pcm) and forklift manufacturing (flm). the pcm industry has exactly three incumbents with annual sales of $800 million, $200 million and $100 million, respectively. the flm industry has also exactly three incumbents, with annual sales of $500 million, $450 million and $400 million, respectively. which industry is more likely to experience a higher level of rivalry?
Answers: 3
![image](/tpl/images/cats/ekonomika.png)
Business, 22.06.2019 17:00, HourlongNine342
Serious question, which is preferred in a business? pp or poopoo?
Answers: 1
Do you know the correct answer?
The following incorrect income statement was prepared by the accountant of the Axel Corporation:
AX...
Questions in other subjects:
![Konu](/tpl/images/cats/en.png)
![Konu](/tpl/images/cats/informatica.png)
Computers and Technology, 09.10.2019 08:30
![Konu](/tpl/images/cats/en.png)
English, 09.10.2019 08:30
![Konu](/tpl/images/cats/mat.png)
![Konu](/tpl/images/cats/en.png)
![Konu](/tpl/images/cats/mat.png)
Mathematics, 09.10.2019 08:30
![Konu](/tpl/images/cats/istoriya.png)
History, 09.10.2019 08:30
![Konu](/tpl/images/cats/biologiya.png)
![Konu](/tpl/images/cats/himiya.png)
Chemistry, 09.10.2019 08:30
![Konu](/tpl/images/cats/mat.png)
Mathematics, 09.10.2019 08:30