Solution-Which statement you feel is the most informative

Which statement you feel is the most informative for company

Reference no: EM131037771

You have been presented with the following information from the books of Sanders and Company for the year ended Dec 31, 2011. Use this information to help you complete each of the steps below.

Sales=$3,000,000	Office Salaries=$15,000	Rental Revenue=$85,000
COGS=$1,500,000	Utilities Expense=$25,000	Dividend Revenue=$65,000
Advertising Expense=$30,000	Insurance Expense=$10000	Interest on Bonds=$12,000
Depreciation of Sales Equipment=$24,000	Officers Salaries=28,000	Travel and Entertainment=$29000
Legal Fees=$32,000	Misc Office Expense=$8,000	Freight Out=$5000

Using Excel, prepare a Multi-Step and Single-Step Income Statement. Income Tax for the year is $50,000 and Common Shares=150,000
At the bottom of one of the income statements you prepare, explain which statement you feel is the most informative for a company? Explain your reasoning.
Submit one Excel spreadsheet with all of your information.

Reference no: EM131037771

Questions Cloud

Marginal revenue and marginal cost : Rapido's marketing experts tell the CEO of Rapido that if it decreased prices by 20%, it would sell so many more shoes that profits would rise. If the expert is correct, at its current output, what can you infer about its marginal revenue and marg..

Financial crisis between the federal reserve system : Please help with a report comparing RECENT financial crisis between the Federal Reserve System and European Central Bank and how both of them responded to the crisis.

Explain whether or not there is any basis to your client''s : Research relevant tax code and explain whether or not there is any basis to your client's statement. Please be sure to reference the relevant tax code(s) in your discussion and clearly state your position.

Leading producer of carpets : Dalton, Georgia has developed into a leading producer of carpets, despite its small size. What is the reason for Dalton's comparative advantage in carpet production?

Which statement you feel is the most informative for company : At the bottom of one of the income statements you prepare, explain which statement you feel is the most informative for a company? Explain your reasoning.

Book the depreciation of the building for march : Book the transaction of the purchase of the building on March 01, 2005 - Book the depreciation of the building for March 2005

What is the lowest cost schedule for the shortest time : What is the shortest time period in which the project can be completed using the expected times listed in Table 1? What is the shortest time in which the project can be completed? What is the lowest cost schedule for this shortest time?

Why is an erp system important to your organisation : Discuss how information technology plays a role in the competitive environment of your organisation. How do you describe the competition to attract and retain clients/customers for your organisation? How do you describe the threat of substitute in..

System before and after the affordable care act : How has the economics changed in the health care system before and after the Affordable Care Act. For example, The price of health care versus and quantity received.

User Account

All Pages

Which statement you feel is the most informative for company

Reference no: EM131037771

Reference no: EM131037771

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT