Please rate the answer
Answer
8) A) non operating income
It realtes to the to peripheral or incidental activities of the
company. (interest and dividend revenue, gains and losses from
selling investments, interest expense)
9) A) selling expenses
B C and D are not related to sellign expenses. B ncludes the cost
of material bought and the friegt inwards . C includes office
related expenses
. D is tax expense..
8.) This section of the income statement reports revenue and expenses from the PERIPHERAL OR INCIDENTAL...
Corporation INCOME STATEMENT For the Year Ended December 31, 2020 Sales Revenue Cost of Goods Sold 705000 Gross Profit/(Loss) 504000 Selling Expenses Selling Expenses 125200 Administrative Expenses 170800 296000 < 208000 Interest Expense 7100 Dividend Revenue 18700 Interest Expense - 11600 196400 Income Before Income Taxes -58920 Income from Continuing Operations 137480 Income from Continuing Operations -51800 Discontinued Operations Loss, Net of Tax $ 85680 Net Income /(Loss) Per Share of Common Stock $ 85680 Net Income /(Loss) 50000 $...
The following income statement items appeared on the adjusted trial balance of Schembri Manufacturing Corporation for the year ended December 31, 2021 ($ in thousands): sales revenue, $18,500; cost of goods sold, $7,800; selling expenses, $1,460; general and administrative expenses, $900; interest revenue, $100; interest expense, $260. Income taxes have not yet been recorded. The company’s income tax rate is 25% on all items of income or loss. These revenue and expense items appear in the company’s income statement every...
Income Statement Format The following information from Belvidere Company's current operations is available: Administrative expenses $82,800 Cost of goods sold 556,800 Sales revenue 926,400 Selling expenses 104,400 Interest expense 8,400 Loss from operations of discontinued segment 72,000 Gain on disposal of discontinued segment 48,000 Income taxes: Amount applicable to ordinary operations 69,600 Reduction applicable to loss from operations of discontinued segment 28,800 Amount applicable to gain on disposal of discontinued segment 19,200 Required a. Prepare a multiple-step income statement. (Disregard...
The following financial information is related to Swifty Group, a service company. Revenues Income from continuing operations Comprehensive income Net income Income from operations Selling and administrative expenses Income before income tax €672,000 84,000 100,800 75.600 184,800 420,000 168,000 Compute the following: (a) Other income and expense € € (b) Financing costs € (c) Income tax € Discontinued operations (d) € (e) Other comprehensive income
The following financial information is related to Bonita Group, a service company. Revenues Income from continuing operations Comprehensive income Net income Income from operations Selling and administrative expenses Income before income tax €768,000 96,000 115,200 86,400 211,200 480,000 192,000 Compute the following: (a) Other income and expense € (b) Financing costs € (c) Income tax € (d) Discontinued operations € (e) Other comprehensive income €
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.)
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.
check my work The following income statement items appeared on the adjusted trial balance of Schembri Manufacturing Corporation for the year ended December 31, 2021 ($ in thousands): sales revenue, $18,900, cost of goods sold, $8,000; selling expenses, $1.480: general and administrative expenses. $980; interest revenue, $240; interest expense, $200. Income taxes have not yet been recorded. The company's income tax rate is 25% on all items of income or loss. These revenue and expense items appear in the company's...
Only need the values of income from operations of discontinued
component, Income tax expense, income from continuing operations
and income on discontinued operations. Thanks
Rembrandt Paint Company had the following Income statement Items for the year ended December 31, 2021 ($ in thousands): Sales revenue Interest revenue Interest expense $ 27,00€ 282 480 Cost of goods sold Selling and administrative expense Restructuring costs $ 15,000 3,400 1,7ee In addition, during the year the company completed the disposal of its plastics...
Forecasting an Income Statement Assume Abercrombie & Fitch reports the following income statements. Income Statement, For Fiscal Years Ended ($ thousands) Feb. 2, 2013 Jan. 28, 2012 Jan, 29, 2011 Net sales $ 4,510,805 $ 4,158,058 $ 3,468,777 Cost of goods sold 1,694,096 1,607,834 1,251,348 Gross profit 2,816,709 2,550,224 2,217,429 Stores and distribution expense 1,987,926 1,888,248 1,589,501 Marketing, general and administrative expense 473,883 437,120 400,804 Other operating expense (income), net (19,333) 3,472 (10,056) Operating income 374,233 221,384 237,180 Interest expense,...