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Fill the statements into the following and show work on how everything was calculated a. Suppose the division provided copy services to a customer for
Fill the statements into the following and show work on how everything was calculated
a. Suppose the division provided copy services to a customer for the discounted price of $263.700. Under normal conditions. Turner's would have provided these services for $293,000. Other revenues totalled $54,000. b. Salaries cost the division $25,000 to provide these services. The division had to pay employees overtime. Ordinarily, the salary cost for these services would have been $22,500. C. Other expenses totalled $246,000. Income tax expense was 38% of income before tax. d. Turner's has two operating divisions. Each division is accounted for separately to indicate how well each is performing. At year-end, Turner's combines the statements of divisions to show results for Turner's as a whole. e. Inflation affects the amounts that Turner's must pay for copy machines. To show the effects of inflation, net income would drop by $5,000. f. If Turner's were to go out of business, the sale of its assets would bring in $185,000 in cash. Revenue: Total revenue Expenses: Total operating expenses Net income
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