Income statement , Accounting Basics

Assignment Help:
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.

Related Discussions:- Income statement

Journal.., i want to know the concepts of journal

i want to know the concepts of journal

Define accounting and briefly explain the accounting concept, 1. (a) Define...

1. (a) Define Accounting. Briefly explain the accounting concepts which guide the accountant at the recording stage. (b) "Ledger is said to be the principal book entry and the t

What is reconciliation?, You should have recorded in your cash books all am...

You should have recorded in your cash books all amounts you've really received and payments you've really made. Though the cash books may be incomplete as your bank may have put ex

Assets, list me all the asset in the world?

list me all the asset in the world?

Accounting as an information system, As discussing the scope of accounting ...

As discussing the scope of accounting you should have observed here the accounting involves a sequence of activities connected with each other, starting along with the collecting,

Distributions to owners, Distributions to owners are reducing in equity of ...

Distributions to owners are reducing in equity of a particular business enterprise resulting from transferring rendering services, assets or incurring liabilities by the enterprise

Give the journal entry to correct scranton''s books , On 11/1/05 the Scrant...

On 11/1/05 the Scranton Electric Company issued a check in the amount of $36,000 to the Fly By Night Insurance Company. The amount represented the total premiums on a liability ins

What are your co-workers like, They are likely to tests for tact, diplomacy...

They are likely to tests for tact, diplomacy, and with descriptive skills.

Transactions affecting only the balance sheet, Q. Transactions affecting on...

Q. Transactions affecting only the balance sheet? Since every transaction affecting a business entity must be recorded in the accounting records analyzing a transaction before

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd