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please show explanations! thank you!
Exercise 16-19 A portion of the combined statement of income and retained earnings of Waterway Inc. for the current year follows. Income before extraordinary item Loss from discontinued operations, net of applicable income tax (Note 1) Net income Retained earnings at the beginning of the year $14,900,000 1,360,000 13,540,000 84,830,000 98,370,000 Dividends declared: On preferred stock-$6.00 per share On common stock-$1.75 per share Retained earnings at the end of the year $318,000 14,670,000 14,988,000 $83,382,000...
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HW chapter 16 Send to Gradebook < Prev Next > Question 2 --/1 View Policies Current Attempt in Progress A portion of the combined statement of income and retained earnings of Tamarisk Inc. for the current year follows. Income before extraordinary item Loss from discontinued operations, net of applicable income tax (Note 1) Net income Retained earnings at the beginning of the year $15,060,000 1,320,000 13,740,000 84,220,000 97,960,000 Dividends declared: On preferred stock-$6.00 per share On common stock-$1.75 per share...
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Question 1 of 1 - / 10 III View Policies Current Attempt in Progress Waterway Corp. has 150,600 shares of common stock outstanding. In 2020, the company reports income from continuing operations before income tax of $1,233,800. Additional transactions not considered in the $1,233,800 are as follows. 1. 2. In 2020, Waterway Corp. sold equipment for $37,700. The machine had originally cost $81,400 and had accumulated depreciation of $30,400. The gain or loss is considered non-recurring. The company discontinued operations...
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Question 6 of 6 < > 1.44/3 View Policies Show Attempt History Current Attempt in Progress The following information is related to Bonita Company for 2020. Retained earnings balance, January 1, 2020 Sales Revenue Cost of goods sold Interest revenue Selling and administrative expenses Write-off of goodwill Income taxes for 2020 Gain on the sale of investments Loss due to flood damage Loss on the disposition of the wholesale division (net of tax) Loss on operations of the wholesale division...
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-/3 > < Question 6 of 6 View Policies Current Attempt in Progress The following information is related to Bonita Company for 2020. Retained earnings balance, January 1, 2020 $1.038,800 Sales Revenue 26,500,000 Cost of goods sold 16,960,000 Interest revenue 74,200 Selling and administrative expenses 4,982,000 Write-off of goodwill 869.200 Income taxes for 2020 1,318,640 Gain on the sale of investments 116,600 Loss due to flood damage 413.400 Loss on the disposition of the wholesale division (net of tax) 466,400...
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< > Question 2 of 5 View Policies Current Attempt in Progress The following balances were taken from the books of Waterway Corp. on December 31, 2020. Interest revenue Cash Sales revenue Accounts receivable Prepaid insurance Sales returns and allowances Allowance for doubtful accounts Sales discounts Land Equipment Buildings Cost of goods sold $87.900 52.900 1,381,900 151.900 21.900 151.900 8.900 46,900 101,900 201,900 141,900 622,900 Accumulated depreciation-equipment Accumulated depreciation--buildings Notes receivable Selling expenses Accounts payable Bonds payable Administrative and general...
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--/25 Question 6 View Policies Current Attempt in Progress Kingbird Inc. reported income from continuing operations before taxes during 2020 of $818,700. Additional transactions occurring in 2020 but not considered in the $818,700 are as follows. 1. The corporation experienced an uninsured flood loss in the amount of $96,000 during the year. 2. At the beginning of 2018, the corporation purchased a machine for $61,200 (salvage value of $10,200) that had a useful life of 6 years....
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Question 10 View Policies Current Attempt In Progress The stockholders' equity section of Bramble Corporation appears below as of December 31, 2020 8% preferred stock, $50 par value, authorized 105,400 shares, outstanding 95,400 shares Common stock, $1.00 par, authorized and issued 10,600,000 shares Additional paid-in capital Retained earnings Net Income $4.770,000 10,600,000 21,730,000 $142,040,000 34,980,000 177,020,000 $ 214,120,000 Net Income for 2020 reflects a total effective tax rate of 20%. Included in the net income figure is a loss of...
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please help!
12-2, LO12-5, The following data relate to the operations of Slick Software, Inc, during 2015. Continuing operations: $19,850,000 16,900,000 12.2A Net sales . . .. Costs and expenses (including applicable income tax,) Income a Statement rnings Other data: Operating income during 2015 on segment of the business discontinued near year-end (net of income ta Loss on disposal of discontinued segment (net of income 140,000 tax benefit) Extraordinary loss (net of income tax benefit) Prior period adjustment (increase in...
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Question 1 View Policies Current Attempt in Progress Metlock Company had 205,200 shares of common stock outstanding on December 31, 2021. During the year 2022, the company issued 8,000 shares on May 1 and retired 14,000 shares on October 31. For the year 2022, Metlock Company reported net income of $238,500 after a loss from discontinued operations of $43,100 (net of tax). What earnings per share data should be reported at the bottom of its income statement? (Round answers to...
please show explanations! thank you!
Exercise 16-19 A portion of the combined statement of income and retained earnings of Waterway Inc. for the current year follows. Income before extraordinary item Loss from discontinued operations, net of applicable income tax (Note 1) Net income Retained earnings at the beginning of the year $14,900,000 1,360,000 13,540,000 84,830,000 98,370,000 Dividends declared: On preferred stock-$6.00 per share On common stock-$1.75 per share Retained earnings at the end of the year $318,000 14,670,000 14,988,000 $83,382,000...
HW chapter 16 Send to Gradebook < Prev Next > Question 2 --/1 View Policies Current Attempt in Progress A portion of the combined statement of income and retained earnings of Tamarisk Inc. for the current year follows. Income before extraordinary item Loss from discontinued operations, net of applicable income tax (Note 1) Net income Retained earnings at the beginning of the year $15,060,000 1,320,000 13,740,000 84,220,000 97,960,000 Dividends declared: On preferred stock-$6.00 per share On common stock-$1.75 per share...
Question 1 of 1 - / 10 III View Policies Current Attempt in Progress Waterway Corp. has 150,600 shares of common stock outstanding. In 2020, the company reports income from continuing operations before income tax of $1,233,800. Additional transactions not considered in the $1,233,800 are as follows. 1. 2. In 2020, Waterway Corp. sold equipment for $37,700. The machine had originally cost $81,400 and had accumulated depreciation of $30,400. The gain or loss is considered non-recurring. The company discontinued operations...
Question 6 of 6 < > 1.44/3 View Policies Show Attempt History Current Attempt in Progress The following information is related to Bonita Company for 2020. Retained earnings balance, January 1, 2020 Sales Revenue Cost of goods sold Interest revenue Selling and administrative expenses Write-off of goodwill Income taxes for 2020 Gain on the sale of investments Loss due to flood damage Loss on the disposition of the wholesale division (net of tax) Loss on operations of the wholesale division...
-/3 > < Question 6 of 6 View Policies Current Attempt in Progress The following information is related to Bonita Company for 2020. Retained earnings balance, January 1, 2020 $1.038,800 Sales Revenue 26,500,000 Cost of goods sold 16,960,000 Interest revenue 74,200 Selling and administrative expenses 4,982,000 Write-off of goodwill 869.200 Income taxes for 2020 1,318,640 Gain on the sale of investments 116,600 Loss due to flood damage 413.400 Loss on the disposition of the wholesale division (net of tax) 466,400...
< > Question 2 of 5 View Policies Current Attempt in Progress The following balances were taken from the books of Waterway Corp. on December 31, 2020. Interest revenue Cash Sales revenue Accounts receivable Prepaid insurance Sales returns and allowances Allowance for doubtful accounts Sales discounts Land Equipment Buildings Cost of goods sold $87.900 52.900 1,381,900 151.900 21.900 151.900 8.900 46,900 101,900 201,900 141,900 622,900 Accumulated depreciation-equipment Accumulated depreciation--buildings Notes receivable Selling expenses Accounts payable Bonds payable Administrative and general...
need help pls
--/25 Question 6 View Policies Current Attempt in Progress Kingbird Inc. reported income from continuing operations before taxes during 2020 of $818,700. Additional transactions occurring in 2020 but not considered in the $818,700 are as follows. 1. The corporation experienced an uninsured flood loss in the amount of $96,000 during the year. 2. At the beginning of 2018, the corporation purchased a machine for $61,200 (salvage value of $10,200) that had a useful life of 6 years....
Question 10 View Policies Current Attempt In Progress The stockholders' equity section of Bramble Corporation appears below as of December 31, 2020 8% preferred stock, $50 par value, authorized 105,400 shares, outstanding 95,400 shares Common stock, $1.00 par, authorized and issued 10,600,000 shares Additional paid-in capital Retained earnings Net Income $4.770,000 10,600,000 21,730,000 $142,040,000 34,980,000 177,020,000 $ 214,120,000 Net Income for 2020 reflects a total effective tax rate of 20%. Included in the net income figure is a loss of...
please help!
12-2, LO12-5, The following data relate to the operations of Slick Software, Inc, during 2015. Continuing operations: $19,850,000 16,900,000 12.2A Net sales . . .. Costs and expenses (including applicable income tax,) Income a Statement rnings Other data: Operating income during 2015 on segment of the business discontinued near year-end (net of income ta Loss on disposal of discontinued segment (net of income 140,000 tax benefit) Extraordinary loss (net of income tax benefit) Prior period adjustment (increase in...
Question 1 View Policies Current Attempt in Progress Metlock Company had 205,200 shares of common stock outstanding on December 31, 2021. During the year 2022, the company issued 8,000 shares on May 1 and retired 14,000 shares on October 31. For the year 2022, Metlock Company reported net income of $238,500 after a loss from discontinued operations of $43,100 (net of tax). What earnings per share data should be reported at the bottom of its income statement? (Round answers to...