Homework Answers
Answer:
| Particulars | Amount | Amount |
| Sales Revenue | 265000 | |
| Less: Cost of Goods Sold | 183000 | |
| Gross Profit | 82000 | |
| Less: | ||
| Selling Expenses | 53000 | |
| General Expenses | 43000 | |
| Administrative Expenses | 33000 | |
| Total Operating Expense | 129000 | |
| Operating Income (Loss) | (47000) | |
| Non Operating Revenue | 103000 | |
| Less: Income before Income Tax | 56000 | |
| Less: Income Tax Expense | 23000 | |
| Net Income | 33000 |
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! Required information Exercise 6-3A Prepare a multiple-step income statement and analyze profitability (LO6-2) (The following...
Required information [The following information applies to the questions displayed below.] Tisdale Incorporated reports the following...
Required information [The following information applies to the questions displayed below.] Tisdale Incorporated reports the following amount in its December 31, 2021, income statement. Sales revenue Non-operating revenue Selling expenses General expenses $265,000 103,000 53,000 43,000 Income tax expense Cost of goods sold Administrative expenses $ 23,000 183,000 33,000 Required: 1. Prepare a multiple-step income statement. (Losses should be indicated by a minus sign.) TISDALE INCORPORATED Multiple-step Income Statement For the year ended December 31, 2021 Total operating expenses Operating...
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Tisdale Incorporated reports the following amount in its December 31, 2021, income statement. Sales revenue $...
Tisdale Incorporated reports the following amount in its December 31, 2021, income statement. Sales revenue $ 350,000 Income tax expense $ 40,000 Non-operating revenue 120,000 Cost of goods sold 200,000 Selling expenses 70,000 Administrative expenses 50,000 General expenses 60,000 Exercise 6-3A Part 1 Required: 1. Prepare a multiple-step income statement. (Losses should be indicated by a minus sign.)
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please complete required 1 and 2 and explain work
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Required information [The following information applies to the questions displayed below.] Tisdale Incorporated reports the following amount in its December 31, 2021, income statement. Sales revenue Non-operating revenue Selling expenses General expenses $265,000 103,000 53,000 43,000 Income tax expense Cost of goods sold Administrative expenses $ 23,000 183,000 33,000 Required: 1. Prepare a multiple-step income statement. (Losses should be indicated by a minus sign.) TISDALE INCORPORATED Multiple-step Income Statement For the year ended December 31, 2021 Total operating expenses Operating...
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Selected information about income statement accounts for the Reed Company is presented below (the company's fiscal year ends on December 31): points Sales revenue Cost of goods sold Administrative expense Selling expense Interest revenue Interest expense Loss on sale of assets of discontinued component 2021 2020 $4,550,000 $3,650,000 2,890,000 2,030,000 830,000 705,000 390,000 332,000 153,000 143,000 206,000 206,000 60,000 eBook Print On July 1, 2021, the company adopted a plan to discontinue a division that qualifies as a component of...
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