Question

What is total expenses on this statement Revenues 30,737 Investments & other income o total Revenues 30, 737 COGS 22,910 Sell
0 0
Add a comment Improve this question Transcribed image text
Answer #1
Total revenue $30,737
Less: Net income $166
Total expenses $30,571
Since, Total Revenue - Total expenses = Net Income
Since, $30,737 - $166 = $30,571

*If you have any doubt feel free to ask in the comment section. Please give your valuable feedback.

Add a comment
Know the answer?
Add Answer to:
What is total expenses on this statement Revenues 30,737 Investments & other income o total Revenues...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • The next several questions require you to look at different ways of measuring the mix of...

    The next several questions require you to look at different ways of measuring the mix of assets each company holds. Which company (A, B or C) has the largest amount of inventory? What is the value of the inventory? A related and perhaps more telling question is, which company has the largest percentage of its total assets held in inventory? Which company (A, B or C) holds the greatest proportion of its total assets as facilities, equipment and other “fixed...

  • On the income statement, infrequent expenses are found in operating revenues and expenses. other revenues or...

    On the income statement, infrequent expenses are found in operating revenues and expenses. other revenues or expenses. disposal of a business segment. cumulative effects. Question 6 Publicly held companies must disclose earnings per share for all of the following except for income from continuing operations. losses from discontinued segments of a business. other revenue and expense items cumulative effects resulting from changes in accounting principles.

  • Income Statement- December 31, 2014 to December 31, 2015 Operating Revenues and Expenses Operating Revenues $1,000...

    Income Statement- December 31, 2014 to December 31, 2015 Operating Revenues and Expenses Operating Revenues $1,000 Sales Returns 22,400 250 22,150 Total Operating Revenues Operating Expenses Cost of goods and services sold 6,000 3,000 6,000 900 250 6,000 600 22,750 Labor Materials Indirect cost Selling and promotion Depreciation General and administrative Lease payment Total Operating Expense Total Operating Income -600 Nonoperating Revenues and Expenses Rents Interest receipts Interest payments 30 200 -80 150 Total nonoperating Income Net Income before Tax...

  • The major elements of the income statement are Select one: a revenues, expenses, gains, and losses....

    The major elements of the income statement are Select one: a revenues, expenses, gains, and losses. b. operating section, nonoperating section, discontinued operations, extraordinary items, and cumulative effect. C. revenues, irregular items, and general expenses. d. revenue, cost of goods sold selling expenses, and general expense. age

  • Prepare a multiple-step income statement for 2021 applying generally accepted accounting principles. The income tax rate...

    Prepare a multiple-step income statement for 2021 applying generally accepted accounting principles. The income tax rate is 25%. The following incorrect income statement was prepared by the accountant of the Axel Corporation: $680,000 41,000 88,000 809,000 AXEL CORPORATION Income Statement For the Year Ended December 31, 2021 Revenues and gains: Sales revenue Interest revenue Gain on sale of investments Total revenues and gains Expenses and losses: Cost of goods sold $370,000 Selling expense 68,000 Administrative expense 88,000 Interest expense 25,000...

  • Preparing a Single-Step and a Multiple-Step Income Statement The following pretax information is taken from the...

    Preparing a Single-Step and a Multiple-Step Income Statement The following pretax information is taken from the adjusted trial balance of Trader J's Corp. at December 31, 2020, its annual year-end. Sales revenue, net Gain on sale of investment Depreciation expense Selling expense General and administrative expenses Rent revenue $950,000 8,000 25,000 140,000 92,300 18,000 7,000 9,000 80,000 10,000 550,000 30,000 Investment revenue Interest expense Recovery from prior expropriation loss Loss on sale of long-term investments Cost of goods sold Casualty...

  • The following incorrect income statement was prepared by the accountant of the Axel Corporation: $720,000 45,000...

    The following incorrect income statement was prepared by the accountant of the Axel Corporation: $720,000 45,000 92,000 857,000 AXEL CORPORATION Income Statement For the Year Ended December 31, 2021 Revenues and gains: Sales revenue Interest revenue Gain on sale of investments Total revenues and gains Expenses and losses: Cost of goods sold $390,000 Selling expense 72,000 Administrative expense 92,000 Interest expense 29,000 Restructuring costs Income tax expense 51,500 Total expenses and losses Net Income 68,000 702,500 $154,500 $ 1.55 Earnings...

  • Exercise 4-5 (Algo) Income statement presentation (L04-1, 4-5) The following incorrect income statement was prepared by...

    Exercise 4-5 (Algo) Income statement presentation (L04-1, 4-5) The following incorrect income statement was prepared by the accountant of the Axel Corporation: $650,000 38,000 85,000 773,000 AXEL CORPORATION Income Statement For the Year Ended December 31, 2021 Revenues and gains: Sales revenue Interest revenue Gain on sale of investments Total revenues and gains Expenses and losses: Cost of goods sold $355,000 Selling expense 65,000 Administrative expense 85,000 Interest expense 22,000 Restructuring costs 61,000 Income tax expense 46,250 Total expenses and...

  • Fit-for-Life Foods reports the following income statement accounts for the year ended December 31. Gain on...

    Fit-for-Life Foods reports the following income statement accounts for the year ended December 31. Gain on sale of equipment Office supplies expense Insurance expense Sales Office salaries expense Rent expense-Selling space Sales staff wages $ 6,290 Depreciation expense-Office copier 750 Sales discounts 1,210 Sales returns and allowances 215,000 TV advertising expense 31,500 Interest revenue 11,300 Cost of goods sold 22,300 Sales commission expense $ 550 15,000 4,100 4,000 790 91,900 12,300 Income Statement For Year Ended December 31 Expenses Selling...

  • please help me complete it The following incorrect income statement was prepared by the accountant of...

    please help me complete it The following incorrect income statement was prepared by the accountant of the Axel Corporation: $670,000 40,000 87, eee 797,000 AXEL CORPORATION Income Statement For the Year Ended December 31, 2021 Revenues and gains: Sales revenue Interest revenue Gain on sale of investments Total revenues and gains Expenses and losses: Cost of goods sold $365,000 Selling expense 67,000 Administrative expense 87,000 Interest expense 24,000 Restructuring costs 63,000 Income tax expense 47,750 Total expenses and losses Net...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT