The following are selected ledger accounts of Coronado Corporation at December 31, 2020. Cash $207,200 Salaries and wages expense (sales) $318,080 Inventory 599,200 Salaries and wages expense (office) 387,520 Sales revenue 4,788,000 Purchase returns 16,800 Unearned sales revenue 131,040 Sales returns and allowances 88,480 Purchases 3,120,320 Freight-in 80,640 Sales discounts 38,080 Accounts receivable 159,600 Purchase discounts 30,240 Sales commissions 92,960 Selling expenses 77,280 Telephone and Internet expense (sales) 19,040 Accounting and legal services 36,960 Utilities expense (office) 35,840 Insurance expense (office) 26,880 Miscellaneous office expenses 8,960 Advertising expense 60,480 Rent revenue 268,800 Delivery expense 104,160 Casualty loss (before tax) 78,400 Depreciation expense (office equipment) 53,760 Interest expense 197,120 Depreciation expense (sales equipment) 40,320 Common stock ($10 par) 650,720 Coronado’s effective tax rate on all items is 20%. A physical inventory indicates that the ending inventory is $686,000. Prepare a condensed 2020 income statement for Coronado Corporation.
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Business, 21.06.2019 21:30
He set of companies a product goes through on the way to the consumer is called the a. economic utility b. cottage industry c. market saturation d. distribution chain
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Business, 22.06.2019 02:30
Based on the supply and demand theory, why do medical doctors earn higher wages than child-care workers?
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Business, 22.06.2019 03:40
2. the language of price controls consider the market for rental cars. suppose that, in a competitive market without government regulations, the equilibrium price of rental cars is $58 per day, and employees at car rental companies earn $19.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect there are many teenagers who would like to work at car rental companies, but the minimum-wage law sets the hourly wage at $23.00. the government has instituted a legal minimum price of $87 per day for rental cars. the government prohibits car rental companies from renting out rental cars for more than $87 per day.
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Business, 22.06.2019 14:20
Anew 2-lane road is needed in a part of town that is growing. at some point the road will need 4 lanes to handle the anticipated traffic. if the city's optimistic estimate of growth is used, the expansion will be needed in 4 years and has a probability of happening of 40%. for the most likely and pessimistic estimates, the expansion will be needed in 8 and 15 years respectively. the probability of the pessimistic estimate happening is 20%. the expansion will cost $ 4.2 million and the interest rate is 8%. what is the expected pw the expansion will cost?
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The following are selected ledger accounts of Coronado Corporation at December 31, 2020. Cash $207,2...
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