Homework Answers
Income statement
| Revenue | |
| Sales revenue | 556,300 |
| Expenses : | |
| Cost of goods sold | -329,700 |
| Salaries and wages expense | -125,600 |
| Other operating expenses | -10,450 |
| Income tax expense | -25,860 |
| Net income | $64,690 |
| earning per share (Net income/Number of shares) (64,690/108,900) | $0.59 |
Increase in value of company reputation and unrealized gain on value of patents are not relevant while preparing income statement.
kindly give a positive rating if you are satisfied with the solution. Please ask if you have any query related to the question, Thanks.
Add Answer to:
Wildhorse Co. had sales revenue of $556,300 in 2020. Other items recorded during the year were:...
Wildhorse Ltd. had sales revenue of £615,600 in 2022. Other items recorded during the year were:...
Wildhorse Ltd. had sales revenue of £615,600 in 2022. Other items recorded during the year were: Cost of goods sold Selling expenses Income tax Increase in value of employees Administrative expenses £376,200 136,800 28,500 17.100 11.400 Prepare an income statement for Wildhorse for 2022. Wildhorse has 100.000 shares outstanding. (Round earnings per share to 2 decimal places, eg. 1.48.) WILDHORSE LTD Income Statement £ E £ E
Send to Gradebook Question 1 View Policies Current Attempt in Progress Vaughn Co. had sales revenue...
Send to Gradebook Question 1 View Policies Current Attempt in Progress Vaughn Co. had sales revenue of $558,700 in 2020. Other items recorded during the year were: Cost of goods sold Salaries and wages expense Income tax expense Increase in value of company reputation Other operating expenses Unrealized gain on value of patents $325,300 128,000 25,690 16,910 10,710 20,460 Prepare a single-step Income statement for Vaughn for 2020. Vaughn has 109,800 shares of stock outstanding. (Round earnings per share to...
Bramble Corporation had net sales revenue of $5,840,000 and investment revenue of $224,000 for the year...
Bramble Corporation had net sales revenue of $5,840,000 and investment revenue of $224,000 for the year ended December 31, 2020. Other items pertaining to 2020 were as follows: Cost of goods sold Salaries and wages expense (sales) Advertising expense Entertainment expense Selling expenses $4,610,000 379,000 126,000 76,000 581,000 Salaries and wages expense (administrative) Rent expense Utilities expense Administrative expenses 293,000 106,000 45,000 444,000 Increase in value of company reputation Unrealized gain on value of patents Interest expense Income tax expense...
= Blue Spruce Corporation had net sales revenue of $5,770,000 and investment revenue of $226,000 for...
= Blue Spruce Corporation had net sales revenue of $5,770,000 and investment revenue of $226,000 for the year ended December 31, 2020. Other items pertaining to 2020 were as follows: $4,590,000 465.000 Cost of goods sold Salaries and wages expense (sales) Advertising expense Entertainment expense Selling expenses 130,000 79,000 674,000 303.000 Salaries and wages expense (administrative) Rent expense Utilities expense Administrative expenses 114,000 40,000 457,000 Increase in value of company reputation Unrealized gain on value of patents 73,000 35,000 172,000 85,000...
Blue Ltd. had sales revenue of £658,800 in 2022. Other items recorded during the year were:...
Blue Ltd. had sales revenue of £658,800 in 2022. Other items recorded during the year were: Cost of goods sold Selling expenses Income tax Increase in value of employees Administrative expenses £402,600 146,400 30,500 18.300 12,200 Prepare an income statement for Blue for 2022. Blue has 100,000 shares outstanding. (Round earnings per share to 2 decimal places, eg. 1.48.) BLUE LTD Income Statement £ £ £ £ The following are changes in all account balances of Bonita Furniture during the...
Wildhorse Co. reported the following information for 2020: Sales revenue Cost of goods sold Operating expenses...
Wildhorse Co. reported the following information for 2020: Sales revenue Cost of goods sold Operating expenses Unrealized holding gain on available-for-sale securities Cash dividends received on the securities $2038000 1410000 220000 120200 8800 For 2020, Wildhorse would report other comprehensive income of O $129000. O $416800. O $408000. O $120200
The financial records of Wildhorse Inc. were destroyed by fire at the end of 2020. Fortunately, the controller had kept...
The financial records of Wildhorse Inc. were destroyed by fire at the end of 2020. Fortunately, the controller had kept certain statistical data related to the income statement as follows. 1. The beginning merchandise inventory was $82,800 and decreased 20% during the current year. 2. Sales discounts amount to $16,320. 3. 27,288 shares of common stock were outstanding for the entire year. 4. Interest expense was $20,800. 5. The income tax rate is 30%. 6. Cost of goods sold amounts...
The financial records of Wildhorse Inc. were destroyed by fire at the end of 2020. Fortunately,...
The financial records of Wildhorse Inc. were destroyed by fire at the end of 2020. Fortunately, the controller had kept certain statistical data related to the income statement as follows. ANP The beginning merchandise inventory was $82,800 and decreased 20% during the current year. Sales discounts amount to $16,320. 27,288 shares of common stock were outstanding for the entire year. Interest expense was $20,800. The income tax rate is 30%. Cost of goods sold amounts to $620,000. Administrative expenses are...
The financial records of Wildhorse Inc. were destroyed by fire at the end of 2020. Fortunately,...
The financial records of Wildhorse Inc. were destroyed by fire at the end of 2020. Fortunately, the controller had kept certain statistical data related to the income statement as follows. 1. The beginning merchandise inventory was $82,800 and decreased 20% during the current year. 2. Sales discounts amount to $16,320. 3. 27,288 shares of common stock were outstanding for the entire year. 4. Interest expense was $20,800. 5. The income tax rate is 30%. 6. Cost of goods sold amounts...
Marigold Corporation had net sales of $2,400,900 and interest revenue of $37,400 during 2020. Expenses for...
Marigold Corporation had net sales of $2,400,900 and interest revenue of $37,400 during 2020. Expenses for 2020 were cost of goods sold $1,466,300, administrative expenses $221,700, selling expenses $298,700, and interest expense $45,300. Marigold’s tax rate is 30%. The corporation had 100,000 shares of common stock authorized and 74,370 shares issued and outstanding during 2020. Prepare a single-step income statement for the year ended December 31, 2020. (Round earnings per share to 2 decimal places, e.g. 1.48.) Create an Income...
Wildhorse Ltd. had sales revenue of £615,600 in 2022. Other items recorded during the year were: Cost of goods sold Selling expenses Income tax Increase in value of employees Administrative expenses £376,200 136,800 28,500 17.100 11.400 Prepare an income statement for Wildhorse for 2022. Wildhorse has 100.000 shares outstanding. (Round earnings per share to 2 decimal places, eg. 1.48.) WILDHORSE LTD Income Statement £ E £ E
Send to Gradebook Question 1 View Policies Current Attempt in Progress Vaughn Co. had sales revenue of $558,700 in 2020. Other items recorded during the year were: Cost of goods sold Salaries and wages expense Income tax expense Increase in value of company reputation Other operating expenses Unrealized gain on value of patents $325,300 128,000 25,690 16,910 10,710 20,460 Prepare a single-step Income statement for Vaughn for 2020. Vaughn has 109,800 shares of stock outstanding. (Round earnings per share to...
Bramble Corporation had net sales revenue of $5,840,000 and investment revenue of $224,000 for the year ended December 31, 2020. Other items pertaining to 2020 were as follows: Cost of goods sold Salaries and wages expense (sales) Advertising expense Entertainment expense Selling expenses $4,610,000 379,000 126,000 76,000 581,000 Salaries and wages expense (administrative) Rent expense Utilities expense Administrative expenses 293,000 106,000 45,000 444,000 Increase in value of company reputation Unrealized gain on value of patents Interest expense Income tax expense...
= Blue Spruce Corporation had net sales revenue of $5,770,000 and investment revenue of $226,000 for the year ended December 31, 2020. Other items pertaining to 2020 were as follows: $4,590,000 465.000 Cost of goods sold Salaries and wages expense (sales) Advertising expense Entertainment expense Selling expenses 130,000 79,000 674,000 303.000 Salaries and wages expense (administrative) Rent expense Utilities expense Administrative expenses 114,000 40,000 457,000 Increase in value of company reputation Unrealized gain on value of patents 73,000 35,000 172,000 85,000...
Blue Ltd. had sales revenue of £658,800 in 2022. Other items recorded during the year were: Cost of goods sold Selling expenses Income tax Increase in value of employees Administrative expenses £402,600 146,400 30,500 18.300 12,200 Prepare an income statement for Blue for 2022. Blue has 100,000 shares outstanding. (Round earnings per share to 2 decimal places, eg. 1.48.) BLUE LTD Income Statement £ £ £ £ The following are changes in all account balances of Bonita Furniture during the...
Wildhorse Co. reported the following information for 2020: Sales revenue Cost of goods sold Operating expenses Unrealized holding gain on available-for-sale securities Cash dividends received on the securities $2038000 1410000 220000 120200 8800 For 2020, Wildhorse would report other comprehensive income of O $129000. O $416800. O $408000. O $120200
The financial records of Wildhorse Inc. were destroyed by fire at the end of 2020. Fortunately, the controller had kept certain statistical data related to the income statement as follows. 1. The beginning merchandise inventory was $82,800 and decreased 20% during the current year. 2. Sales discounts amount to $16,320. 3. 27,288 shares of common stock were outstanding for the entire year. 4. Interest expense was $20,800. 5. The income tax rate is 30%. 6. Cost of goods sold amounts...
The financial records of Wildhorse Inc. were destroyed by fire at the end of 2020. Fortunately, the controller had kept certain statistical data related to the income statement as follows. ANP The beginning merchandise inventory was $82,800 and decreased 20% during the current year. Sales discounts amount to $16,320. 27,288 shares of common stock were outstanding for the entire year. Interest expense was $20,800. The income tax rate is 30%. Cost of goods sold amounts to $620,000. Administrative expenses are...
The financial records of Wildhorse Inc. were destroyed by fire at the end of 2020. Fortunately, the controller had kept certain statistical data related to the income statement as follows. 1. The beginning merchandise inventory was $82,800 and decreased 20% during the current year. 2. Sales discounts amount to $16,320. 3. 27,288 shares of common stock were outstanding for the entire year. 4. Interest expense was $20,800. 5. The income tax rate is 30%. 6. Cost of goods sold amounts...
Most questions answered within 3 hours.
-
Assume you are working with a standard deck of 52 cards. There
are 13 cards (2,...
asked 2 minutes ago -
A cell phone company offers two plans to its subscribers. At the
time new subscribers sign...
asked 1 minute ago -
Circular distribution
•Suppose two birds are flying, one is flying from the north and
the other...
asked 4 minutes ago -
If tcalc = -2.78, tcrit = 1.96, H0: Mu > Mu0, and Xbar <
Mu0, what...
asked 5 minutes ago -
Write a program that reads a floating point number and prints
“zero” if the number is...
asked 6 minutes ago -
Geoff has been running a restaurant in the city for many years.
He knows from experience...
asked 16 minutes ago -
NaOH is added to a buffer solution composed of C6H5COOH and
C6H5COO―. Which of the following...
asked 8 minutes ago -
please answer all... it all counts as a discussion problem
1a qualitative data and proportions: Suppose...
asked 8 minutes ago -
Program: Write a complete C++ program that is
made of functions main() and rShift(). The rShift()...
asked 16 minutes ago -
Extended exposure can cause hearing loss. Is this
sensorineural hearing loss or conduction hearing loss? Explain....
asked 25 minutes ago -
a
conducting spherical shell of inner radius a and outer radius b has
a point charge...
asked 25 minutes ago -
If a family spends its entire budget in a given time frame, the
family can afford...
asked 26 minutes ago