Operations of Blossom Corporation Sales Returns and Allowances
Order ID:89JHGSJE83839 Style:APA/MLA/Harvard/Chicago Pages:5-10 Instructions:
Operations of Blossom Corporation Sales Returns and Allowances
Question Description
The information below relates to the operations of Blossom Corporation, a private company following ASPE, for the year ended December 31, 2020:
Cost of goods sold $326,000
Interest expense 2,090
Sales returns and allowances 8,710
Accounts payable 119,878
Sales discounts 3,592
Depreciation expense 982,096
Sales revenue 982,596
Salaries and wages expense 163,332
Prepaid expenses 3,250
Rent expense 35,500
Loss from fire 8,118
Rental revenue 21,506Additional information:
• The effective tax rate is 40%. • Depreciation expense: 50% administrative expense and 50% selling expense • Salaries and wages expense: 45% administration expense and 55% selling expense • Rent expense: 70% administration expense and 30% selling expense
Prepare a multiple-step income statement in good form by function. (Enter selling expenses before administrative expenses. Round answers to 0 decimal places, e.g. 5,275.)
RUBRIC
Excellent Quality
95-100%
Introduction 45-41 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Literature Support
91-84 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Methodology
58-53 points
Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score
50-85%
40-38 points
More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.
83-76 points
Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.
52-49 points
Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality
0-45%
37-1 points
The background and/or significance are missing. No search history information is provided.
75-1 points
Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.
48-1 points
There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
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Operations of Blossom Corporation Sales Returns and Allowances