The following information is available for Jain Corp. for the year ended December 31, 2012: Other revenues
Question:
Other revenues and gains ...... $ 12,700
Net sales ........... $552,000
Other expenses and losses ...... 13,300
Operating expenses ........ 186,000
Cost of goods sold ......... 156,000
Prepare a multiple-step income statement for Jain Corp. The company has a tax rate of
30%.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 61% (13 reviews)
JAIN CORP Income Statement For the Year Ended December 31 2012 Net sales ...View the full answer
Answered By
Nyron Beeput
I am an active educator and professional tutor with substantial experience in Biology and General Science. The past two years I have been tutoring online intensively with high school and college students. I have been teaching for four years and this experience has helped me to hone skills such as patience, dedication and flexibility. I work at the pace of my students and ensure that they understand.
My method of using real life examples that my students can relate to has helped them grasp concepts more readily. I also help students learn how to apply their knowledge and they appreciate that very much.
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Question Posted:
Students also viewed these Accounting questions
-
The following information is available for Mildred Corporation for the year ended December 31, 2012: Cost of goods sold $205,000; Sales revenue $450,000; Other revenues and gains $50,000; and...
-
Multiple Choice Questions 1) The following information is available for product N6. Direct material costs ........................ $67.00 per unit of product Costs of machining...
-
The following information is available for Vega Manufacturing Company for the monthe ending July 31, 2012: Cost of goods manufactured ..........$270,000 Selling expenses ................ 58,000...
-
Which of the following variable types can be used in a switch statement under some circumstances? (Choose three.) A. An enumerated type B. StringBuilder C. Byte D. Double E. var F. Exception.
-
Replace the two couples shown with a single equivalent couple, specifying its magnitude and the direction of its axis. 160 mm 120 mm 50 N 144 mm 120 mm E12.5N 50 N 192 mm 12.5 N
-
Describe how IR spectroscopy might be used to monitor the progress of each of the following reactions. a. b. c. d. e. Na,Cr,07 H,SO, H,0 . CH3 N. CH;I N.
-
Water flows in a rectangular channel at a rate of \(q=20 \mathrm{cfs} / \mathrm{ft}\). When a Pitot tube is placed in the stream, water in the tube rises to a level of \(4.5 \mathrm{ft}\) above the...
-
Muhsin Company has gathered the information shown on the next page about its product. Direct materials: Each unit of product contains 4.5 pounds of materials. The average waste and spoilage per unit...
-
Write a javascript program to display the grade of a student 1) Text 1-Student Name 2) Text 2-Student Id 3) Text 3 - Mark 4) Button - When you click the button display the grade in Paragraph (apply...
-
Steam at a temperature of 250C flows through a steel pipe (AISI 1010) of 60-mm inside diameter and 75-mm outside diameter. The convection coefficient between the steam and the inner surface of the...
-
Assume information similar to that in 5-1. That is: On October 5, Longhini Company buys merchandise on account from Okern Company. The selling price of the goods is $5,000, and the cost to Okern...
-
Crystal Lake Corporations accounting records show the following at yearend December 31, 2012: Purchase Discounts .... $ 5,900 Beginning Inventory .... $31,720 Freight-in .......... 8,400 Ending...
-
In Exercises 17 through 32, sketch the graph of the given function. f(x) = 1 2x + 3
-
In evaluating a piece of equipment for its optimal replacement interval, the following table of equivalent uniform annual costs is obtained. What is the optimal replacement interval for the...
-
Scallops use muscles to close their shells. Opening the shell is another storymuscles can only pull, they cant push. Instead of muscles, the shell is opened by a spring, a pad of a very elastic...
-
Milliken uses a digitally controlled dyer for placing intricate and integrated patterns on manufactured carpet squares for home and commercial use. The dyer is classified as MACRS-GDS 5-year property...
-
The Special Olympics raises money through plane pull events in which teams of 25 people compete to see who can pull a 74,000 kg airplane 3.7 m across the tarmac. The inertia of the plane is an...
-
Polaris Industries wishes to purchase a multiple-use in-plant road test simulator that can be used for ATVs, motorcycles, and snowmobiles. This is for research and experimentation and is considered...
-
One of the factors in the APT model specified in an influential paper by Chen, Roll, and Ross* is the percent change in unanticipated inflation. Who gains and who loses when inflation changes? Go to...
-
In Exercises discuss the continuity of each function. f(x) -3 1 x - 4 y 3 2 -1 -2 -3+ 3 X
-
Which integral requires more work to evaluate? Explain your answer. fsi sin 798 x cos x dx or f sin sin4x cos4 x dx
-
Hiatt Corporation's balance sheet at December 31, 2009, is presented below. During 2010, the following transactions occurred. 1. On January 1, 2010, Hiatt issued 1,500 shares of $20 par, 7% preferred...
-
The financial statements of Hershey Foods are presented in Appendix B, following the financial statements for Tootsie Roll in Appendix A. Instructions (a) Based on the information in these financial...
-
The March 27, 2007, edition of the Wall Street Journal has an article by Serena Ng and Karen Richardson titled How Borrowing Yields Dividends at Many Firms. Instructions Read the article and answer...
-
1. Define latent heat and how it is different than specific heat capacity. 2. Describe how a phase diagram changes when changing from a solid to a liquid. 3. Describe how work done is related to a...
-
In a large vaccination clinic, patients arrive at the rate of 50 per hour. The clinic is staffed with five nurses and it takes on average 6 minutes for a nurse to vaccinate a patient. Both patient...
-
Calculate the missing value. Beginning cash balance add : cash receipts Collection of notes receivable Proceeds from sale of securities collection from credit sales Total receipts Total available...
Study smarter with the SolutionInn App