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1.Companies cannot claim deductions for the payment of dividends True as long as the company pays the dividend in two instalments not less than six months apart B False False unless the dividend is franked True

2.Waking the Current Pet Adating trich Book Show Me How Calculator Multiple-Step Income Statement Use the following information to prepare a multiple-step income statement, including the revenue section and the cost of goods sold section, for Sauter Office Supplies for the year ended December 31, 20. $159,600 1,820 4,178 422 26,400 600 Sales Sales Returns and Allowances Sales Discounts Interest Revenue Merchandise Inventory, January 1, 20- Estimated Returns Inventory, January 1, 20- Purchases Purchases Returns and Allowances Purchases Discounts Freight in Merchandise Inventory, December 31, 10- Estimated Returns Inventory, December 31, 20 Wages Expense Supplies Expense Phone Expense Utilities Expense Insurance Expense Depreciation Expense-Equipment Miscellaneous Expense Interest Expense 112,000 4,550 2,710 855 29,900 1,100 27,400 600 900 7,000 1,300 3,800 570 4,700 Sauter Office Supplies Income Statement Previous Next > Check My Work 4 more Check My Work uses remaining Email Instructor Save and all Sum Assert for Grading All werk saved
Calculator Sauter Office Supplies Income Statement For Year Ended December 31, 20-- Revenue from sales: Sales Less: Sales returns and allowances 159,600 1.820 Less: Sales discounts 4,178 Net sales ? 159.400 X Cost of goods sold: Merchandise inventory, January 1, 20 26,400 → Estimated returns Inventory, January 1, 20- 600 x Purchases 112,000 Less: Purchases returns and allowances 4,550 Lessi Purchases discounts dropdown 2,750 X Net purchases ? 76,602 X 2,710 X Add: Freight-in Cost of goods purchased 159,000 X Gross profit X 48,000 x Less: Income from operations x Previous Next > Check My Work 4 more Check My Work uses remaining All work saved. Email instructor Save and Ex Submit Assignment for Grading
eBook Show Me How Calculator Gross profit X 48.000 X Less: Income from operations x DO Operating expenses: Wages expense 27,400 Supplies expense 600 Phone expense 900 Utilities expense 7,000 Insurance expense 1,300 3.800 Depreciation expense-equipment Miscellaneous expense Total operating expenses 570 41.570 Income from operations Other revenues: Interest revenue 4,700 x Other expenses: Feedback Check My Work 4 more Check My Work uses remaining Previous