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

What are fixed asset, Fixed asset are assets which provides the business fu...

Fixed asset are assets which provides the business future benefit Fixed assets are those which are tangible in nature and is not meant for sale in the near future and from whi

Inome statement, #question.outline basic elements to keep in mind while pre...

#question.outline basic elements to keep in mind while preparing an income statement?

TURNOVER, WHAT IS THE MEANING OF INVENTORY TURNOVER

WHAT IS THE MEANING OF INVENTORY TURNOVER

Create balance sheet and income statement, 1. Listed below are account bala...

1. Listed below are account balances taken from the adjusted trial balance of XYZ Inc. as of December 31, 2012.   Credit Account

Liability, partner investments, journal entries. The LP partnership was for...

partner investments, journal entries. The LP partnership was formed on January 1, 19X7, by investments from Bill Levy and Marv Parcells. Levy contributed $30,000 cash and $80,000 o

Frank Woods Business Accounting, J Green''s financial position at 1 May 200...

J Green''s financial position at 1 May 2008 was as follows bank 2,910 cash 160 equipment 5,900 premises 25,000 creditors R smith 890 t thomas 610 debtors j car

Fundamental manual accounting system, Q. Fundamental manual accounting syst...

Q. Fundamental manual accounting system? Those planning on a public accounting career must do more than just learn accounting. To develop the essential skills a broad education

Gearing, Remedies of overtrading

Remedies of overtrading

A tabular analysis of the transactions, A tabular analysis of the transacti...

A tabular analysis of the transactions made during August 2010 by Witten Company during its first month of operations is shown below. Each increase and decrease in stockholders'

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