Homework Answers
Alexian Systems Inc. Income Statement For the year Ended December 31, 2021
| Particulars | Amount | Amount |
| Net Sales Revenue | $425 | |
| Cost of Goods Sold ($245-$40) | $205 | |
| Gross Profit | $220 | |
| Operating Expenses; | ||
| Selling and Administrative ($154-$26) | $128 | |
| Restructuring Cost | $26 | |
| Total Operating Expenses | $154 | |
| Operating Income | $66 | |
| Other Income | ||
| Interest Revenue | $4 | |
| Gain on sale of investment | $6 | |
| Total Other Income | $10 | |
| Income from continuing operations before Income Taxes | $76 | |
| Income Tax Expense(76*25%) | $19 | |
| Income From Continuing Opertation | $57 | |
| Discontinued Operations; | ||
| Income from Operation of Discontinued component | $120 | |
| Income Tax Expense( $120 * 25%) | $(30) | |
| Income in discontinued Operations | $90 | |
| Net Income | $147 | |
| Earning Per Share; | ||
| Income from continuing operations | $2.85 | |
| Discontinued Operations | $4.5 | |
| Net Income | $7.35 |
Add Answer to:
The preliminary 2021 income statement of Alexion Systems, Inc., is presented below. ALEXTAN SYSTEMS, INC. Income...
The preliminary 2021 income statement of Alexian Systems, Inc., is presented below: 20 ALEXIAN SYSTEMS, INC....
The preliminary 2021 income statement of Alexian Systems, Inc., is presented below: 20 ALEXIAN SYSTEMS, INC. Income Statement For the Year Ended December 31, 2021 ($ in millions, except earnings per share) Revenues and gains: Sales revenue $ 506 Interest revenue Other income 143 Total revenues and gains 669 Expenses: Cost of goods sold 287 Selling and administrative expense 158 Income tax expense 56 Total expenses 501 Net Income $ 168 Earnings per share $16.80 Additional information: 1. Selling and...
please complete exactly like photo The preliminary 20 21 income statement of Alexion Systems, Inc., is...
please complete exactly like
photo
The preliminary 20 21 income statement of Alexion Systems, Inc., is presented below: ALEXIAN SYSTEMS, INC. Income Statement For the Year Ended December 31, 2021 ($ in millions, except earnings per share) Revenues and gains: Sales revenue Interest revenue Other income Total revenues and pains Expenses: Cost of goods sold Selling and administrative expense Income tax expense Total expenses Net Income Earnings per share Additional Information: 1. Selling and administrative expense includes $27 million in...
Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021...
Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands): Sales revenue $ 31,000 Cost of goods sold $ 17,000 Interest revenue 360 Selling and administrative expense 3,800 Interest expense 560 Restructuring costs 2,100 In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $2.9 million and a gain on disposal of the component’s assets of $4.6 million. 600,000 shares...
Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021...
Rembrandt Paint Company had the following income statement items
for the year ended December 31, 2021 ($ in thousands):
Problem 4-6 (Algo) Income statement presentation; Discontinued operations; EPS (L04-1, 4-3, 4-4, 4-5) Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands): Sales revenue Interest revenue Interest expense $ 32,000 380 580 Cost of goods sold Selling and administrative expense Restructuring costs $ 17,500 3,900 2,200 In addition, during the year...
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...
The following incorrect income statement was prepared by the accountant of t AXEL CORPORATION Income Statement...
The following incorrect income statement was prepared by the accountant of t 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 Income tax expense 47,000 Total expenses and losses 644,000 Net Income $141,000 Earnings per share 62,000 Required: Prenare...
The following incorrect income statement was prepared by the accountant of the Axel Corporation: AXEL CORPORATION...
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 $ 620,000 Interest revenue 35,000 Gain on sale of investments 82,000 Total revenues and gains 737,000 Expenses and losses: Cost of goods sold $ 340,000 Selling expense 62,000 Administrative expense 82,000 Interest expense 19,000 Restructuring costs 58,000 Income tax expense 44,000 Total expenses and losses 605,000 Net Income $ 132,000...
The following incorrect income statement was prepared by the accountant of the Axel Corporation:
The following incorrect income statement was prepared by the accountant of the Axel Corporation: AXEL CORPORATIONIncome StatementFor the Year Ended December 31, 2021Revenues and gains:Sales revenue$700,000Interest revenue43,000Gain on sale of investments90,000Total revenues and gains833,000Expenses and losses:Cost of goods sold$380,000Selling expense70,000Administrative expense90,000Interest expense27,000Restructuring costs66,000Income tax expense50,000Total expenses and losses683,000Net Income$150,000Earnings per share$1.50 Required:Prepare a multiple-step income statement for 2021 applying generally accepted accounting principles. The income tax rate is 25%. (Amounts to be deducted should be indicated with a minus sign. Round EPS answer to 2...
Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021...
Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands): Sales revenue Interest revenue Interest expense $26,000 cost of goods sold 260 Selling and administrative expense 460 Restructuring costs $14,500 3,300 1,600 In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $2.4 million and a gain on disposal of the component's assets of $3.6 million. 600,000 shares of common...
Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021...
Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands): Sales revenue Interest revenue Interest expense $30,000 cost of goods sold 340 Selling and administrative expense 540 Restructuring costs $ 16,500 3,700 2,000 In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $2.8 million and a gain on disposal of the component's assets of $4.4 million. 600,000 shares of...
The preliminary 2021 income statement of Alexian Systems, Inc., is presented below: 20 ALEXIAN SYSTEMS, INC. Income Statement For the Year Ended December 31, 2021 ($ in millions, except earnings per share) Revenues and gains: Sales revenue $ 506 Interest revenue Other income 143 Total revenues and gains 669 Expenses: Cost of goods sold 287 Selling and administrative expense 158 Income tax expense 56 Total expenses 501 Net Income $ 168 Earnings per share $16.80 Additional information: 1. Selling and...
please complete exactly like
photo
The preliminary 20 21 income statement of Alexion Systems, Inc., is presented below: ALEXIAN SYSTEMS, INC. Income Statement For the Year Ended December 31, 2021 ($ in millions, except earnings per share) Revenues and gains: Sales revenue Interest revenue Other income Total revenues and pains Expenses: Cost of goods sold Selling and administrative expense Income tax expense Total expenses Net Income Earnings per share Additional Information: 1. Selling and administrative expense includes $27 million in...
Rembrandt Paint Company had the following income statement items
for the year ended December 31, 2021 ($ in thousands):
Problem 4-6 (Algo) Income statement presentation; Discontinued operations; EPS (L04-1, 4-3, 4-4, 4-5) Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands): Sales revenue Interest revenue Interest expense $ 32,000 380 580 Cost of goods sold Selling and administrative expense Restructuring costs $ 17,500 3,900 2,200 In addition, during the year...
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...
The following incorrect income statement was prepared by the accountant of t 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 Income tax expense 47,000 Total expenses and losses 644,000 Net Income $141,000 Earnings per share 62,000 Required: Prenare...
Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands): Sales revenue Interest revenue Interest expense $26,000 cost of goods sold 260 Selling and administrative expense 460 Restructuring costs $14,500 3,300 1,600 In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $2.4 million and a gain on disposal of the component's assets of $3.6 million. 600,000 shares of common...
Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands): Sales revenue Interest revenue Interest expense $30,000 cost of goods sold 340 Selling and administrative expense 540 Restructuring costs $ 16,500 3,700 2,000 In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $2.8 million and a gain on disposal of the component's assets of $4.4 million. 600,000 shares of...
Most questions answered within 3 hours.
-
A sine wave signal is displayed on the screen of an
oscilloscope. 6 peak-to-peak divisions are...
asked 55 seconds ago -
a
1500 kg car accelerates from 0 to 25 m / s in 21.0s. How much...
asked 1 hour ago -
Calculate the molarity of each of the following solutions:
(a) 30.5 g of ethanol (C2H5OH) in...
asked 1 hour ago -
1 Refer to the build-borrow-or-buy framework as a decision tree
for the Adidas company. Identify a...
asked 1 hour ago -
Problem 2: The Problem of Social Cost. A Rancher and Farmer live
side-by-side to each other....
asked 2 hours ago -
a uniform bar of weight 40N is 4 meter long. weights
on 60N and 100N are...
asked 2 hours ago -
Define Diet counceling? What are the
responsibilities of a counselor?
asked 4 hours ago -
Hey im just confused about how to put the ' A angle n' and ' S...
asked 4 hours ago -
A short essay about the WSJ article on Oreo versus Hydrox.
asked 4 hours ago -
##8. A program contains the following function definition:
##def cube(num):
##return num * num * num...
asked 4 hours ago -
find the value z of a standard Normal variable that satisfies
each of the given conditions....
asked 4 hours ago -
"banana".find('z')
Out[22]: -1
why is this -1
python 3.7
asked 4 hours ago