Answer:
Before-tax income $ 11,252,000
Less: Deduction for state income tax(529000+451000) $ 980,000
Taxable Income $ 10,272,500
Tax rate 21%
Federal income tax $ 2,157,225.00
Mesa’s combined tax rate
= ([$980,000 state tax + $2,157,225 federal tax] ÷ $11252000) 27.88%
Explanation:
The value of a bank's assets is than its liabilities, the bank is said to be <u>solvent</u>
<h3>What is assets?</h3>
Any resource that a company, an organization, or an economic body owns or controls is considered an asset. It encompasses everything that has the potential to generate gains in the economy. When turned into money, assets indicate the worth of ownership.
<h3>What do you mean by solvent in accounting?</h3>
A company's capacity to fulfill its short-term and long-term financial commitments is known as its solvency. One indicator of a company's financial health is its level of solvency, which reveals whether it will be able to continue running its business into the near future. Ratio analysis is a tool investors can use to assess a company's solvency.
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Answer:
The correct answer is option (b) 44,000
Explanation:
Solution
Given that:
From the question given, the first step to take is to find out how many square feet would the Building Maintenance cost be allocated
Now,
The Square feet over which Building Maintenance cost would be allocated is stated as follows:
The Square feet over which Building Maintenance cost would be allocated = Square Footage of Machining + Square Footage of Assembly = 18000 + 26000
Thus,
=18000 + 26000 = 44,000
Answer:
Income Statment for the year ended december 31th, 20X9
Sales Revenue 437,100 (9,300 units x 47 price per unit)
COGS 223,200 (9,300 units x 24 unit cost)
Gross Profit 213,900
S&A 138,000
Net Income 75900
Explanation:
Unit cost:
DM + DL + VO + FO = 9 + 6 + 4 + 5 = 24
Answer:
1.63
Explanation:
The computation of the pricing elasticity of supply using the midpoint method is shown below:
= (change in quantity supplied ÷ average of quantity supplied) ÷ (percentage change in price ÷ average of price)
where,
Change in quantity supplied would be
= Q2 - Q1
= 1,100 - 500
= 600
And, the average of quantity supplied is
= (1,100 + 500) ÷ 2
= 800
Change in price would be
= P2 - P1
= $0.80 - $0.50
= $0.30
And, average of price would be
= ($0.80 + $0.50) ÷ 2
= 0.65
So, after solving this, the price elasticity of supply is 1.63