Income statement , Accounting Basics

Astra Company sells financial calculators and offers instruction on their use. During its first year it expects to sell 3000 calculators at $30 each and offer 5000 hours of instruction at a "tuition" of $8 an hour. Astra pays $23 for each calculator and has two employees who give instruction on calculator use and are paid $18000 each in salary. Astra has a $20000 bank loan outstanding for the entire year at 8% and has depreciation expense of $2000. If they pay income tax at a rate of %15 and have 100 shares of common stock, calculate their Earnings per share. base it on a "good firm" income statement and assume $3000 in common stock dividends.
Posted Date: 8/29/2012 9:01:10 PM | Location : United States







Related Discussions:- Income statement , Assignment Help, Ask Question on Income statement , Get Answer, Expert's Help, Income statement Discussions

Write discussion on Income statement
Your posts are moderated
Related Questions
UOIT has recently appointed you to prepare an independent consulting report to analyze the university's current financial position and to provide some recommendations for improve

Employees : The view of business organizations exist to maximize the go back to shareholders has been undergoing modify as an outcome of social changes. A broader view is consider


What is uses of Purchases journal Purchases journal (SPECIAL JOURNAL) Used to record only credit purchases of merchandise-may be only one column which is posted to two accou

On october 5 2011 mara hotel collectedmthe amount of 180000 repreesenting advanced rental from a tenant who occupies space of the building. tHe advanced rental willcover the period

Determine the types of Credit card sales Bank Credit Card Sales - Most retail businesses accept bank credit cards. Treated as a CASH sale. Recording Bank Credit Card Sale

Q. Explain about Accountants record expenditures? Accountants record expenditures on physical resources such like buildings, land and equipment that benefit future periods as a

what are the legal distinction between business combination, merger and consolidation

Revenues from the theatrical supply of motion pictures are recognized when motion pictures are exhibited. Television licensing revenues are recorded while the program material is a

Q. Detailed steps for completing the work sheet ? Accountants use these preliminary steps in preparing the work sheet. The following segments describe the detailed steps for com