The following information is available for Blossom Corporation for the year ended December 31, 2020: sales...
The following information is available for Blossom Corporation for the year ended December 31, 2020: sales revenue $830,000, other revenues and gains $90,500, operating expenses $105,000, cost of goods sold $469,000, other expenses and losses $30,000, and preferred stock dividends $40,175. The company’s tax rate was 25%, and it had 68,000 shares outstanding during the entire year. Calculate earnings per share.
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The following information is available for Blossom Corporation
for the year ended December 31, 2020: sales...
Exercise 14-12a-b The following information is available for Blossom Corporation for the year ended December 31,...
Exercise 14-12a-b The following information is available for Blossom Corporation for the year ended December 31, 2020: sales revenue $830,000, other revenues and gains $90,500, operating expenses $105,000, cost of goods sold $469,000, other expenses and losses $30,000, and preferred stock dividends $40,175. The company's tax rate was 25%, and it had 68,000 shares outstanding during the entire year. BLOSSOM CORPORATION Income Statement sion) IN Calculate earnings per share. (Round answer to 2 decimal places, e.g. 2.25.) Earnings per share
The following information is available for Oriole Corporation for the year ended December 31, 2020: sales...
The following information is available for Oriole Corporation for the year ended December 31, 2020: sales revenue $815,000, other revenues and gains $94,000, operating expenses $117,000, cost of goods sold $460,000, other expenses and losses $34,500, and preferred stock dividends $34,125. The company’s tax rate was 35%, and it had 65,000 shares outstanding during the entire year. Prepare a corporate income statement. (List other revenues before other expenses.)
The following information is available for Ivanhoe Corporation for the year ended December 31, 2020: sales...
The following information is available for Ivanhoe Corporation for the year ended December 31, 2020: sales revenue $770,000, other revenues and gains $91,500, operating expenses $109,000, cost of goods sold $470,000, other expenses and losses $34,000, and preferred stock dividends $31,850. The company’s tax rate was 30%, and it had 49,000 shares outstanding during the entire year. Prepare a corporate income statement.
The following information is available for Oriole Cerporation for the year ended December 31, 2020: sales...
The following information is available for Oriole Cerporation for the year ended December 31, 2020: sales revenue $750,000, other revenues and gains $88,000, operating expenses $116,000, cost of goods sold $464.000, other expenses and losses $32,500, and preferred stock dividends $43,125. The company's tax rate was 25%, and it had 45,000 shares outstanding during the entire year Prepare a corporate Income statement. (List other revenues before other expenses.) ORIOLE CORPORATION Income Statement < < < < < < < Calculate...
he following information is available for Oriol Corporation for the year ended December 31, 2020: sales...
he following information is available for Oriol Corporation for the year ended December 31, 2020: sales revenue $750,000, other revenues and gains $88,000, operating expenses 116,000, cost of goods sold $464,000, other expenses and losses $32,500, and preferred stock dividends $43,125. The company's tax rate was 25%, and it had 45,000 shares utstanding during the entire year repare a corporate income statement. (List other revenues before other expenses.) ORIOLE CORPORATION In State Calculate earnings per share. (Round answer to 2...
The following information is avalable for Culumber Corporation for the year ended December 31, 2020: sales...
The following information is avalable for Culumber Corporation for the year ended December 31, 2020: sales revenue $775.000, other revenues and gains 509,500, operating expenses $109.000, cost of goods so 400.000, other expenses and ses $31.000, and preferred stock dividends $35.525. The company tax rate was and it had 64.000 shares outstanding during the entire year Prepare a corporate income statement (List other revenues before there CULLUMBER CORPORATION
Q2. The following information is available for Kesley Corporation for the year ended December 31, 2016:...
Q2. The following information is available for Kesley Corporation for the year ended December 31, 2016: Sales $700000; Other revenues and Gains $9000; operating expenses $20000; cost of goods sold S300000; other expenses and losses $4000; preferred stock dividend $10000. The company tax rate 25% and it had 25000 shares outstanding during the entire year. Required: c. Prepare a Income Statement (Marking Scheme: Computation- 8 Marks, Correct Marks 2 Marks) d. Calculate earnings per share (Marking Scheme Computation 4 Marks,...
Blossom, Inc. has the following data for the year ended December 31, 2020: Net sales Loss...
Blossom, Inc. has the following data for the year ended December 31, 2020: Net sales Loss on disposal of discontinued operation Cost of goods sold Interest expense Selling expenses Administrative expenses Shares of capital stock outstanding, 10,000 Tax rate of 30% on all items $274,200 22,100 166,100 6,000 17,700 35,720 Prepare a multiple-step income statement for Blossom, Inc. for the year ended December 31, 2020. (Round earnings per share answers to 2 decimal places, eg. 5.25.) Blossom Inc. Income Statement...
Presented below is information related to Blossom Corp. for the year 2020. Net sales Cost of...
Presented below is information related to Blossom Corp. for the year 2020. Net sales Cost of goods sold Selling expenses Administrative expenses Dividend revenue Interest revenue $1,612,000 967.200 80,600 59.520 24,800 8.680 Write-off of inventory due to obsolescence Depreciation expense omitted by accident in 2019 Casualty loss Cash dividends declared Retained earnings at December 31, 2019 Effective tax rate of 20% on all items $99,200 68.200 62,000 55,800 1.215.200 Prepare a multiple-step income statement for 2020. Assume that 94.240 shares...
The following information is available for Coronado Corporation for the year ended December 31, 2020: cost...
The following information is available for Coronado Corporation for the year ended December 31, 2020: cost of goods sold $223,000, sales revenue $457,000, other revenues and gains $54,500, and operating expenses $80,000. Assuming a corporate tax rate of 30%, prepare an income statement for the company. CORONADO CORPORATION Income Statement
Exercise 14-12a-b The following information is available for Blossom Corporation for the year ended December 31, 2020: sales revenue $830,000, other revenues and gains $90,500, operating expenses $105,000, cost of goods sold $469,000, other expenses and losses $30,000, and preferred stock dividends $40,175. The company's tax rate was 25%, and it had 68,000 shares outstanding during the entire year. BLOSSOM CORPORATION Income Statement sion) IN Calculate earnings per share. (Round answer to 2 decimal places, e.g. 2.25.) Earnings per share
The following information is available for Oriole Cerporation for the year ended December 31, 2020: sales revenue $750,000, other revenues and gains $88,000, operating expenses $116,000, cost of goods sold $464.000, other expenses and losses $32,500, and preferred stock dividends $43,125. The company's tax rate was 25%, and it had 45,000 shares outstanding during the entire year Prepare a corporate Income statement. (List other revenues before other expenses.) ORIOLE CORPORATION Income Statement < < < < < < < Calculate...
he following information is available for Oriol Corporation for the year ended December 31, 2020: sales revenue $750,000, other revenues and gains $88,000, operating expenses 116,000, cost of goods sold $464,000, other expenses and losses $32,500, and preferred stock dividends $43,125. The company's tax rate was 25%, and it had 45,000 shares utstanding during the entire year repare a corporate income statement. (List other revenues before other expenses.) ORIOLE CORPORATION In State Calculate earnings per share. (Round answer to 2...
The following information is avalable for Culumber Corporation for the year ended December 31, 2020: sales revenue $775.000, other revenues and gains 509,500, operating expenses $109.000, cost of goods so 400.000, other expenses and ses $31.000, and preferred stock dividends $35.525. The company tax rate was and it had 64.000 shares outstanding during the entire year Prepare a corporate income statement (List other revenues before there CULLUMBER CORPORATION
Q2. The following information is available for Kesley Corporation for the year ended December 31, 2016: Sales $700000; Other revenues and Gains $9000; operating expenses $20000; cost of goods sold S300000; other expenses and losses $4000; preferred stock dividend $10000. The company tax rate 25% and it had 25000 shares outstanding during the entire year. Required: c. Prepare a Income Statement (Marking Scheme: Computation- 8 Marks, Correct Marks 2 Marks) d. Calculate earnings per share (Marking Scheme Computation 4 Marks,...
Blossom, Inc. has the following data for the year ended December 31, 2020: Net sales Loss on disposal of discontinued operation Cost of goods sold Interest expense Selling expenses Administrative expenses Shares of capital stock outstanding, 10,000 Tax rate of 30% on all items $274,200 22,100 166,100 6,000 17,700 35,720 Prepare a multiple-step income statement for Blossom, Inc. for the year ended December 31, 2020. (Round earnings per share answers to 2 decimal places, eg. 5.25.) Blossom Inc. Income Statement...
Presented below is information related to Blossom Corp. for the year 2020. Net sales Cost of goods sold Selling expenses Administrative expenses Dividend revenue Interest revenue $1,612,000 967.200 80,600 59.520 24,800 8.680 Write-off of inventory due to obsolescence Depreciation expense omitted by accident in 2019 Casualty loss Cash dividends declared Retained earnings at December 31, 2019 Effective tax rate of 20% on all items $99,200 68.200 62,000 55,800 1.215.200 Prepare a multiple-step income statement for 2020. Assume that 94.240 shares...
The following information is available for Coronado Corporation for the year ended December 31, 2020: cost of goods sold $223,000, sales revenue $457,000, other revenues and gains $54,500, and operating expenses $80,000. Assuming a corporate tax rate of 30%, prepare an income statement for the company. CORONADO CORPORATION Income Statement
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