The following information was taken from the records of Blue Inc. for the year 2020: Income tax applicable to income from continuing operations $228,140; income tax applicable to loss on discontinued operations $31,110, and unrealized holding gain on available-for-sale securities (net of tax) $18,300. Gain on sale of equipment $115,900 Cash dividends declared $183,000 Loss on discontinued operations 91,500 Retained earnings January 1, 2020 3,000,000 Administrative expenses 292,800 Cost of goods sold 1,037,000 Rent revenue 48,800 Selling expenses 366,000 Loss on write-down of inventory 73,200 Sales Revenue 2,318,000 Shares outstanding during 2020 were 100,000. (a)
Prepare a single-step income statement.
Prepare a comprehensive income statement for 2020, using the two statement format.
Prepare a retained earnings statement for 2020.
Answers: 1
Business, 21.06.2019 14:40
Jansen company borrowed $12,000 on a 1-year, 5 percent note payable from the local bank on april 1. interest was paid quarterly, and the note was repaid one year from the time the money was borrowed. calculate the amount of cash payments jansen was required to make in each of the two calendar years that were affected by the note payable.
Answers: 2
Business, 21.06.2019 16:00
Corey is trying to save money to buy a new tv. he invests $800 into an account paying 6.5% simple interest. for how long must he save if the tv costs $950? a. 2 years b. 3 years c. 4 years d. 5 years
Answers: 1
Business, 22.06.2019 05:30
U.s. internet advertising revenue grew at the rate of r(t) = 0.82t + 1.14 (0 ≤ t ≤ 4) billion dollars/year between 2002 (t = 0) and 2006 (t = 4). the advertising revenue in 2002 was $5.9 billion.† (a) find an expression f(t) giving the advertising revenue in year t.
Answers: 1
The following information was taken from the records of Blue Inc. for the year 2020: Income tax appl...
Engineering, 11.01.2021 21:30
Mathematics, 11.01.2021 21:30
Mathematics, 11.01.2021 21:30
Mathematics, 11.01.2021 21:30
Mathematics, 11.01.2021 21:30
Geography, 11.01.2021 21:30
Spanish, 11.01.2021 21:30
Mathematics, 11.01.2021 21:30
Mathematics, 11.01.2021 21:30
Mathematics, 11.01.2021 21:30
Mathematics, 11.01.2021 21:30