Answer:
$161 million
Explanation:
Given that,
Gross profit = $350 million
Operating expenses = $120 million
Tax rate = 30%
First, we need to find out the income before taxes by subtracting operating expenses from the gross profit then we are able to determine net income after taxes.
Income before tax:
= Gross profit - Operating expenses
= $350 million - $120 million
= $230 million
Net income after taxes:
= Income before tax - Taxes
= $230 million - (0.30 × $230 million)
= $230 million - $69 million
= $161 million
Answer:
c. Debit to Cash and a credit to Merchandise Inventory
Explanation:
When a buyer returns goods these are return outwards,
The correct entries to record them would be to debit cash as goods have been returned and credit the merchandise purchased so,
Debit cash account with the amount of goods returned
Credit Merchandise inventory with the amount of goods returned.
Hope that helps.
The things that describes above is that they are all intelligent techniques. These are used in dealing with decision making. In order for the person to know how to deal with the situations and how to cope up by applying the following characteristics in situations.
The mutual benefit that the American Clothing Company derives by partnering with a Chinese Manufacturer comes because <u>E. It is</u> an example of counter-trading ...
<h3>What is Counter-trading?</h3>
Counter-trading occurs when goods or services are exchanged for other goods or services rather than for hard currency. It is a reciprocal form of international trade in which, for example, the American Clothing Company brings in its technology while the Chinese Manufacturer provides cheap labor and other resources.
<h3>Answer Options:</h3>
A. It is a strategic alliance in which two countries share the risks and rewards of starting a new enterprise together in a foreign country.
B. It is a wholly owned subsidiary in which a foreign subsidiary is totally owned and controlled by an organization.
C. It is a greenfield venture in which owning the organization has been built from scratch.
D. It is an example of a franchise in which a company allows a foreign company to pay it a fee and a share of the profit in return for using the first company’s brand name and a package of materials and services.
E. It is an example of counter-trading in which the country is bartering for goods.
Thus, the counter-trade between these companies is mutually beneficial because of <u>Option E</u>.
Learn more about counter-trading at brainly.com/question/14659049
