Homework Answers
| Income Statement: | |||||
| Sales revenue | 362000 | ||||
| Less: Cost of goods sold | 126000 | ||||
| Gross Margin | 236000 | ||||
| Less: Operating expenses | |||||
| Salaries expenses | 36000 | ||||
| Utilities expenses | 46000 | ||||
| Advertisement expenses | 26000 | ||||
| Total Operating expenses | 108000 | ||||
| Operating income | 128000 | ||||
| Less: Non Operating expenses | |||||
| Interest expeses | 16000 | ||||
| Pre-tax Income | 112000 | ||||
| Lless: Income Tax expenses | 46000 | ||||
| After tax Income | 66000 | ||||
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9(Ch 6) Wayman Corporation reports the following amounts in its December 31, 2021, income statement 362,000Income...
Wayman Corporation reports the following amounts in its December 31, 2021, income statement. Sales revenue Interest...
Wayman Corporation reports the following amounts in its December 31, 2021, income statement. Sales revenue Interest expense Salaries expense Utilities expense $362,000 16,000 36,000 46,000 Income tax expense Cost of goods sold Advertising expense $ 46,000 126,000 26,000 Required: Prepare a multiple-step income statement. WAYMAN CORPORATION Multiple-step Income Statement For the year ended December 31, 2021 Total operating expenses Operating income
Wayman Corporation reports the following amounts in its December 31, 2021, income statement. Sales revenue Interest...
Wayman Corporation reports the following amounts in its December 31, 2021, income statement. Sales revenue Interest expense Salaries expense Utilities expense $362,000 16,000 36,000 46,000 Income tax expense Cost of goods sold Advertising expense $ 46,000 126,000 26,000 TISDALE INCORPORATED Multiple-step Income Statement For the year ended December 31, 2021 Total operating expenses Operating income (loss)
Wayman Corporation reports the following amounts in its December 31, 2021, income statement. Sales revenue Interest...
Wayman Corporation reports the following amounts in its December 31, 2021, income statement. Sales revenue Interest expense Salaries expense Utilities expense $439,000 27,000 47,000 57,000 Income tax expense cost of goods sold Advertising expense $ 57,000 137,000 37,000 Required: Prepare a multiple-step income statement. WAYMAN CORPORATION Multiple-step Income Statement For the year ended December 31, 2021 Total operating expenses Operating income
Exercise 6-2 Prepare a multiple-step income statement (LO6-2) Wayman Corporation reports the following amounts in its...
Exercise 6-2 Prepare a multiple-step income statement (LO6-2) Wayman Corporation reports the following amounts in its December 31, 2018, income statement. Sales revenue Interest expense Salaries expense Utilities expense $334,000 12,000 32,000 42,000 Income tax expense Cost of goods sold Advertising expense 42,000 122,000 22,000 Required Prepare a multiple-step income statement. WAYMAN CORPORATION Multiple-step Income Statement For the year ended December 31, 2018 $ 334,000 122,000 Sales revenue Cost of goods sold Salariesexpense 32,000 42,000 22,000 tilities expense Advertising expense...
HW #3 13. 0.50 points Beasley, Inc. reports the following amounts in its December 31, 2018,...
HW #3 13. 0.50 points Beasley, Inc. reports the following amounts in its December 31, 2018, income statement. $ 30,000 Sales revenue Interest expense Salaries expense Utilities expense $330,000 Income tax expense 12,000 Cost of goods sold 36,000 Advertising expense 45,000 22,000 Prepare a multiple-step income statement. BEASLEY, INC Multiple-step Income Statement For the year ended December 31, 2018 Total operating expenses Income before income taxes
Save-the-Earth Co. reports the following income statement accounts for the year ended December 31. Sales...
Save-the-Earth Co. reports the following income statement accounts for the year ended December 31. Sales discounts $ 800 Office salaries expense 2,500 Rent expense—Office space 2,000 Advertising expense 600 Sales returns and allowances 300 Office supplies expense 600 Cost of goods sold 10,000 Sales 30,000 Insurance expense 1,500 Sales staff salaries 3,000 Required: Prepare a multiple-step income statement for the year ended December 31.
Fit-for-Life Foods reports the following income statement accounts for the year ended December 31. Gain on...
Fit-for-Life Foods reports the following income statement accounts for the year ended December 31. Gain on sale of equipment Office supplies expense Insurance expense Sales Office salaries expense Rent expense-Selling space Sales staff wages 6.298 Depreciation expense-office copier 620 Sales discounts 1,388 Sales returns and allowances 218, eee TV advertising expense 31,129 Interest revenue 11,6ee cost of goods sold 23,788 Sales commission expense 53e 16, zee 3,900 3,800 650 91,880 13.ee Prepare a multiple-step Income statement.
The adjusted trial balance for Starbucks Electric Crane (SEC) Company at December 31, 2021, is presented...
The adjusted trial balance for Starbucks Electric Crane (SEC) Company at December 31, 2021, is presented below: Debit Credit Cash 11,100 Accounts receivable 156,000 Prepaid rent 5,600 Inventory 31,000 Iquipment 360,000 Accumulated depreciation equipment 131,000 Accounts payable 36,000 Notes payable-due in three months 36,000 Salaries payable 4.600 Interest payable 12,100 Common stock 230,000 Retained earnings 63,200 Dividends 63,900 Sales revenue 460,000 Costs of goods sold 210,000 Salaries expense 126,000 Rent expense 21.000 Depreciation expense 36,000 Interest expense 2,600 Advertising expense...
The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. ...
The December 31, 2021, adjusted trial balance for Fightin' Blue
Hens Corporation is presented below.
Accounts
Debit
Credit
Cash
$
10,600
Accounts Receivable
136,000
Prepaid Rent
4,600
Supplies
23,000
Equipment
260,000
Accumulated Depreciation
$
121,000
Accounts Payable
10,600
Salaries Payable
9,600
Interest Payable
3,600
Notes Payable (due in two years)
26,000
Common Stock
160,000
Retained Earnings
46,000
Service Revenue
360,000
Salaries Expense
260,000
Rent Expense
13,000
Depreciation Expense
26,000
Interest Expense
3,600
Totals
$
736,800
$
736,800
Prepare an...
Save-the-Earth Co. reports the following income statement accounts for the year ended December 31. $ Sales...
Save-the-Earth Co. reports the following income statement accounts for the year ended December 31. $ Sales discounts Office salaries expense Rent expense-Office space Advertising expense Sales returns and allowances Office supplies expense Cost of goods sold Sales Insurance expense Sales staff salaries 860 3,100 2,600 720 360 720 11,200 42,000 2,100 3,600 Required: Prepare a multiple-step income statement for the year ended December 31. Save-the-Earth Co. Income Statement For Year Ended December 31 Expenses Selling expenses Total selling expenses General...
Wayman Corporation reports the following amounts in its December 31, 2021, income statement. Sales revenue Interest expense Salaries expense Utilities expense $362,000 16,000 36,000 46,000 Income tax expense Cost of goods sold Advertising expense $ 46,000 126,000 26,000 Required: Prepare a multiple-step income statement. WAYMAN CORPORATION Multiple-step Income Statement For the year ended December 31, 2021 Total operating expenses Operating income
Wayman Corporation reports the following amounts in its December 31, 2021, income statement. Sales revenue Interest expense Salaries expense Utilities expense $362,000 16,000 36,000 46,000 Income tax expense Cost of goods sold Advertising expense $ 46,000 126,000 26,000 TISDALE INCORPORATED Multiple-step Income Statement For the year ended December 31, 2021 Total operating expenses Operating income (loss)
Wayman Corporation reports the following amounts in its December 31, 2021, income statement. Sales revenue Interest expense Salaries expense Utilities expense $439,000 27,000 47,000 57,000 Income tax expense cost of goods sold Advertising expense $ 57,000 137,000 37,000 Required: Prepare a multiple-step income statement. WAYMAN CORPORATION Multiple-step Income Statement For the year ended December 31, 2021 Total operating expenses Operating income
Exercise 6-2 Prepare a multiple-step income statement (LO6-2) Wayman Corporation reports the following amounts in its December 31, 2018, income statement. Sales revenue Interest expense Salaries expense Utilities expense $334,000 12,000 32,000 42,000 Income tax expense Cost of goods sold Advertising expense 42,000 122,000 22,000 Required Prepare a multiple-step income statement. WAYMAN CORPORATION Multiple-step Income Statement For the year ended December 31, 2018 $ 334,000 122,000 Sales revenue Cost of goods sold Salariesexpense 32,000 42,000 22,000 tilities expense Advertising expense...
HW #3 13. 0.50 points Beasley, Inc. reports the following amounts in its December 31, 2018, income statement. $ 30,000 Sales revenue Interest expense Salaries expense Utilities expense $330,000 Income tax expense 12,000 Cost of goods sold 36,000 Advertising expense 45,000 22,000 Prepare a multiple-step income statement. BEASLEY, INC Multiple-step Income Statement For the year ended December 31, 2018 Total operating expenses Income before income taxes
Fit-for-Life Foods reports the following income statement accounts for the year ended December 31. Gain on sale of equipment Office supplies expense Insurance expense Sales Office salaries expense Rent expense-Selling space Sales staff wages 6.298 Depreciation expense-office copier 620 Sales discounts 1,388 Sales returns and allowances 218, eee TV advertising expense 31,129 Interest revenue 11,6ee cost of goods sold 23,788 Sales commission expense 53e 16, zee 3,900 3,800 650 91,880 13.ee Prepare a multiple-step Income statement.
The adjusted trial balance for Starbucks Electric Crane (SEC) Company at December 31, 2021, is presented below: Debit Credit Cash 11,100 Accounts receivable 156,000 Prepaid rent 5,600 Inventory 31,000 Iquipment 360,000 Accumulated depreciation equipment 131,000 Accounts payable 36,000 Notes payable-due in three months 36,000 Salaries payable 4.600 Interest payable 12,100 Common stock 230,000 Retained earnings 63,200 Dividends 63,900 Sales revenue 460,000 Costs of goods sold 210,000 Salaries expense 126,000 Rent expense 21.000 Depreciation expense 36,000 Interest expense 2,600 Advertising expense...
The December 31, 2021, adjusted trial balance for Fightin' Blue
Hens Corporation is presented below.
Accounts
Debit
Credit
Cash
$
10,600
Accounts Receivable
136,000
Prepaid Rent
4,600
Supplies
23,000
Equipment
260,000
Accumulated Depreciation
$
121,000
Accounts Payable
10,600
Salaries Payable
9,600
Interest Payable
3,600
Notes Payable (due in two years)
26,000
Common Stock
160,000
Retained Earnings
46,000
Service Revenue
360,000
Salaries Expense
260,000
Rent Expense
13,000
Depreciation Expense
26,000
Interest Expense
3,600
Totals
$
736,800
$
736,800
Prepare an...
Save-the-Earth Co. reports the following income statement accounts for the year ended December 31. $ Sales discounts Office salaries expense Rent expense-Office space Advertising expense Sales returns and allowances Office supplies expense Cost of goods sold Sales Insurance expense Sales staff salaries 860 3,100 2,600 720 360 720 11,200 42,000 2,100 3,600 Required: Prepare a multiple-step income statement for the year ended December 31. Save-the-Earth Co. Income Statement For Year Ended December 31 Expenses Selling expenses Total selling expenses General...
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