By what date must taxes be filed in the united states?

In its income statement for the year ended December 31, 2019, Sheridan Company reported the following condensed data. Operating

olga55 [171]

Answer&Explanation:

Net Income Statment for the Year Ended December 31,2019

Net sales 2,416,300

Cost of goods sold (1,334,200)

Gross Profit 1,082,100 Sales - COGS

Operating expenses (759,720)

Operating Income 292,380 Gross Profit - Operating Expenses

Interest revenue 29,970

Interest expense (71,270)

Loss on disposal of plant assets (15,910)

Other Income (57210)

Net income 235,170 Operating Income + Other income

Other comprehensive income 6,920.

Comprehensive Income 242,090 Net Income - OCI

6 0

3 years ago

Four roommates are planning to spend the weekend in their dorm room watching old movies, and they are debating how many to watch

denis-greek [22]

Answer:

1. Inside the dorm room, the movies are Non-Rival which means that one person can watch the movie and it will not diminish the ability of others to watch as well.

Also as they are all in the same dorm, the showing of the movie is Non-Excludable as well because no one can stop the other from watching.

Public good is both Non-Rival and Non-Excludable so the showing of a movie IS a public good.

2.

Musashi Sean Bob Eric Total Willingness to pay

10 9 8 3 30

8 7 6 2 23

6 5 4 1 16

4 3 2 0 9

2 1 0 0 3

The optimal number of movies that can be rented is dependent on their total willingness to pay. If their Total willingness to pay for the movie is above $8 which is the cost of a movie, then they will get it. From the table, the fifth movie is below the price of $8 so they should rent 4 movies.

3. If they rent 4 movies and there are 4 of them then the cost per person is;

= (8 *4)/4 people

= 24/4

= $8

This means that each roommate will pay $8.

3 0

3 years ago

Labels Plus, LLC, exports specialty printing equipment for the labeling, flexible packaging, and carton industry. Due to increas

Kisachek [45]

Label Plus, LLC, ......................... Due to increased support from DEPARTMENT OF COMMERCE'S BUREAU OF INDUSTRY AND SECURITY.
The department of commerce's bureau of industry and security helps small businesses by supplying them with information which can help their business to succeed on the international scale.

6 0

3 years ago

Electric, Inc. was incorporated on January 1, 2016. Electric issued 7 comma 000 shares of common stock and 1 comma 200 shares

marta [7]

Answer:

$48,000

Explanation:

The computation of the total amount paid to the preferred shareholder is shown below:

= Number of preferred stock shares × par value × dividend rate × number of years

= 1,200 shares × $100 × 10% × 4 years

= $48,000

Simply we multiplied with the number of preferred stock with the par value, its dividend rate and the time period so that the correct value can come

All other information which is given is not relevant. Hence, ignored it

7 0

3 years ago

In 2016, Sarah (who files as single) had silverware worth $10,000 (basis $6,000) stolen from her home. Sarah's insurance company

-BARSIC- [3]

Answer:

C) None of the $5,000 should be included in gross income.

Explanation:

During 2016, Sarah's itemized deductions (other than the stolen silverware) were only $2,000. If Sarah wanted to deduct the stolen silverware, she could have taken a casualty loss = $6,000 - $100 - $3,000 = $2,900. Her total itemized deductions would equal $2,000 + $2,900 = $4,900.

But during that year, Sarah should have opted for a standard deduction of $6,300 which is higher than her itemized deductions. That means that Sarah didn't claim any deduction for her silverware, so any money received from the insurance company should not be included in her gross income.

5 0

3 years ago