Business, 12.10.2020 17:01 IsabelAyshi
The following incorrect income statement was prepared by the accountant of the Axel Corporation:
AXEL CORPORATION Income Statement For the Year Ended December 31, 2021 Revenues and gains:
Sales revenue $ 592,000
Interest revenue 32,000
Gain on sale of investments 86,000
Total revenues and gains 710,000
Expenses and losses:
Cost of goods sold $ 325,000
Selling expense 67,000
Administrative expense 87,000
Interest expense 16,000
Restructuring costs 55,000
Income tax expense 40,000
Total expenses and losses 590,000
Net Income $ 120,000
Earnings per share $ 1.20
Required: Prepare a multiple-step income statement for 2021 applying generally accepted accounting principles. The income tax rate is 25%. (Amounts to be deducted should be indicated with a minus sign. Round EPS answer to 2 decimal places.)
Answers: 3
Business, 22.06.2019 08:00, leannaadrian
Companies in the u. s. car rental market vary greatly in terms of the size of the fleet, the number of locations, and annual revenue. in 2011 hertz had 320,000 cars in service and annual revenue of approximately $4.2 billion. the following data show the number of cars in service (1000s) and the annual revenue ($ millions) for six smaller car rental companies (auto rental news website, august 7, 2012). excel file: data14-09.xls if required, enter negative values as negative numbers. a. select a scatter diagram with the number of cars in service as the independent variable. b. what does the scatter diagram developed in part (a) indicate about the relationship between the two variables? c. use the least squares method to develop the estimated regression equation (to 3 decimals). ŷ = + x d. for every additional car placed in service, estimate how much annual revenue will change. by $ e. fox rent a car has 11,000 cars in service. use the estimated regression equation developed in part (c) to predict annual revenue for fox rent a car. round your answer to nearest whole value. $ million hide feedback partially correct
Answers: 1
Business, 22.06.2019 22:30, wbrandi118
The answer here, x=7, is not in the interval that you selected in the previous part. what is wrong with the work shown above?
Answers: 1
Business, 22.06.2019 22:50, PinkyUSA18
Which of these makes a student loan different from other types of loans
Answers: 1
Business, 23.06.2019 02:30, erik2219
Drag the tiles to the correct boxes to complete the pairs. match the scenarios with terms related to financial aid. entrance counseling fafsa financial need megan is planning to pursue an undergraduate degree in chemistry. but since her father lost his job five years ago, the family had been unable to save up enough for megan's education. arrowright kunal recently learned that he is going to receive a student loan. now he needs to attend a session in which he will learn the how the loan process works, as well as his responsibilities as a borrower. arrowright josie created an fsa id and completed a long application form online. the form asked for a lot of financial details about josie and her family. arrowright
Answers: 1
The following incorrect income statement was prepared by the accountant of the Axel Corporation:
AX...
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