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Pepsi [2]
4 years ago
6

An inexperienced accountant for Marigold Corp. showed the following in the income statement: income before income taxes $432,000

and unrealized gain on available-for-sale securities (before taxes) $85,200. The unrealized gain on available-for-sale securities and income before income taxes are both subject to a 33% tax rate. Prepare a correct statement of comprehensive income.
Business
1 answer:
nekit [7.7K]4 years ago
6 0

Answer:

$346,524

Explanation:

Marigold Corp correct statement of Comprehensive Income

Income before income taxes 432,000

Income taxes expenses 142,560

(432,000*33%)

Net Income or loss 289,440

(432,000-142,560)

Other comprehensive income:

Unrealized gain on available-for-sale securities before tax

(85,200-(85,200*33%)

=85,200-28,116

=57,084

Hence:

Comprehensive income:

289,440+57,084

=$346,524

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A farmer grows squash in his 100 by 100 foot garden. He then sells the crop at the local farmers' market. Two summers ago, he wa
olasank [31]

Answer:

Yes, the fertilizer lived up to its promise

Explanation:

New fertilizer promised 50% increase in yield

Initial yield = 1200 pounds of squash

Expected yield with new fertilizer = 1200 + (1200×0.5) = 1200 + 600 = 1800 pounds

Actual yield = 1900 pounds

Since the actual yield surpassed the promise yield of the fertilizer, it lived up to its promise

3 0
3 years ago
No variable overhead is incurred or budgeted. The expected cash balance at the end of the current year is $3,500. Disbursements
elena-s [515]

Answer:

$23,000

Explanation:

The computation of the budgeted excess or (deficiency) in cash flows is shown below:-

Budgeted excess or (deficiency) in cash flows at the end of the first quarter =  Cash Inflows - Cash Outflows

=$60,000 - $25,000 - ($8,000 - $1,000) - $5,000

= $60,000 - $25,000 - $7,000 - $5,000

= $23,000

Therefore for computing the Budgeted excess or (deficiency) in cash flows at the end of the first quarter we simply applied the above formula.

8 0
3 years ago
Ondren Machine Tools has total assets of $3,930,000 and current assets of $829,000. It turns over its fixed assets 3.8 times per
Katarina [22]

The return on stockholders’ equity is 28.90%.

<h3>How to calculate the stockholders’ equity?</h3>

Total Assets 3930000

Less: Total debt 1280000

Total Stockholders' equity 2650000

Total assets 3930000

Less: Current assets 829000

Fixed Assets 3101000

Total Assets 3930000

Less: Total debt 1280000

Total Stockholders' equity 2650000

Total assets 3930000

Less: Current assets 829000

Fixed Assets 3101000

Fixed Assets 3101000

X Fixed Assets turnover 3.8

Total revenue 11783800

Total revenue 11783800

X Return on sales 6.50%

Net income 765947

Net income 765947

Divide by Total Stockholders' equity 2650000

Return on stockholders’ equity 28.90%

Learn more about equity on:

brainly.com/question/25847981

#SPJ1

6 0
2 years ago
Read 2 more answers
When was the word integer introduced?
svet-max [94.6K]
<span>The origin of the word integer dates back to the early 16th century. Back then, the word was used as an adjective meaning 'entire' or 'whole'. However, the word is composed of two Latin words 'in-' (expressing negation) and the root of 'tangere' (to touch) which were used separately ages before it came together we know it today.</span>
8 0
3 years ago
Sweet Stuff Sugar Source ships product all over the world. Since the product it ships has a low value-to-weight ratio, transport
dedylja [7]

Answer:

a large percentage of the total cost

Explanation:

When a product has a high value to weight ratio it means it is expensive and the weight is light. For products with low value to cash ratio they are cheap but have large weight.

Low value to weight ratio goods are more expensive to transport and they do not make up the high transportation cost because they are also cheap.

In this scenario Sweet Stuff Sugar Source ships low value to weight goods all over the world. So their transportation cost will be high and it will make up a large percentage of total cost.

5 0
3 years ago
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