Please help me find Selling Expense.
Homework Answers
Single step income statement
| Revenues | ||
| Net sales | 1256300 | |
| Expenses | ||
| Cost of goods sold | 510000 | |
| Administrative expense | 102000 | |
| Interest expense | 19600 | |
| Selling expense (102000*5/4) | 127500 | |
| Total expense | 759100 | |
| Net income | 497200 | |
| Share outstanding | 21670 | |
| EPS | 22.94 | |
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Please help me find Selling Expense.
1. The beginning merchandise inventory was $93.840 and decreased 20%...
The financial records of Sheffield Inc. were destroyed by fire at the end of 2020. Fortunately,...
The financial records of Sheffield 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 $99,360 and decreased 20%
during the current year. 2. Sales discounts amount to $18,700. 3.
19,090 shares of common stock were outstanding for the entire year.
4. Interest expense was $20,400. 5. The income tax rate is 30%. 6.
Cost of goods sold amounts...
The financial records of Blue Inc. were destroyed by fire at the end of 2020. Fortunately,...
The financial records of Blue 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 $17,000.
3.
16,184 shares of common stock were outstanding for the entire
year.
4.
Interest expense was $19,600.
5.
The income tax rate is 30%.
6.
Cost of goods sold amounts...
The financial records of Coronado Inc. were destroyed by fire at the end of 2020. Fortunately,...
The financial records of Coronado 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 $117,760 and decreased
20% during the current year.
2.
Sales discounts amount to $14,280.
3.
21,772 shares of common stock were outstanding for the entire
year.
4.
Interest expense was $18,000.
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. 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. 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...
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...
prepare an income statement for the year 2020 in single step form The financial records of...
prepare an income statement for the year 2020 in single step
form
The financial records of Blossom 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 $101.200 and decreased 20% during the current year. 2. Sales discounts amount to $19,380 3. 27,902 shares of common stock were outstanding for the entire year. 4. Interest expense was $21,600. 5....
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...
View Policies Show Attempt History Current Attempt in Progress The financial records of Marigold Inc. were...
View Policies Show Attempt History Current Attempt in Progress The financial records of Marigold Inc. were destroyed by fire at the end of 2020. Fortunately, the controller had kept certain statistical related to the income statement as follows. 1. The beginning merchandise Inventory was $97,520 and decreased 20% during the current year. 2. Sales discounts amount to $15,300. 3. 21,812 shares of common stock were outstanding for the entire year. 4. Interest expense was $16,000. 5. The income tax rate...
prepare an income statement Nedt Question 5 View Policies Current Attempt in Progress -11 The financial...
prepare an income statement
Nedt Question 5 View Policies Current Attempt in Progress -11 The financial records of Blossom 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 $101,200 and decreased 20% during the current year. 2. Sales discounts amount to $19,380. 3. 27,902 shares of common stock were outstanding for the entire year. 4. Interest expense was...
The financial records of Sheffield 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 $99,360 and decreased 20%
during the current year. 2. Sales discounts amount to $18,700. 3.
19,090 shares of common stock were outstanding for the entire year.
4. Interest expense was $20,400. 5. The income tax rate is 30%. 6.
Cost of goods sold amounts...
The financial records of Blue 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 $17,000.
3.
16,184 shares of common stock were outstanding for the entire
year.
4.
Interest expense was $19,600.
5.
The income tax rate is 30%.
6.
Cost of goods sold amounts...
The financial records of Coronado 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 $117,760 and decreased
20% during the current year.
2.
Sales discounts amount to $14,280.
3.
21,772 shares of common stock were outstanding for the entire
year.
4.
Interest expense was $18,000.
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. 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. 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. 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...
prepare an income statement for the year 2020 in single step
form
The financial records of Blossom 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 $101.200 and decreased 20% during the current year. 2. Sales discounts amount to $19,380 3. 27,902 shares of common stock were outstanding for the entire year. 4. Interest expense was $21,600. 5....
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...
View Policies Show Attempt History Current Attempt in Progress The financial records of Marigold Inc. were destroyed by fire at the end of 2020. Fortunately, the controller had kept certain statistical related to the income statement as follows. 1. The beginning merchandise Inventory was $97,520 and decreased 20% during the current year. 2. Sales discounts amount to $15,300. 3. 21,812 shares of common stock were outstanding for the entire year. 4. Interest expense was $16,000. 5. The income tax rate...
prepare an income statement
Nedt Question 5 View Policies Current Attempt in Progress -11 The financial records of Blossom 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 $101,200 and decreased 20% during the current year. 2. Sales discounts amount to $19,380. 3. 27,902 shares of common stock were outstanding for the entire year. 4. Interest expense was...
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