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4 years ago

Are scholarships included in gross income

Business

1 answer:

GarryVolchara [31]4 years ago

7 0

Answer:

Generally, you report any portion of a scholarship, a fellowship grant, or other grant that you must include in gross income as follows: If filing Form 1040 (PDF), include the taxable portion in the total amount reported on the "Wages, salaries, tips" line of your tax return

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Aquilera, Inc., has sales of $19.6 million, total assets of $14.6 million, and total debt of $5.4 million. The profit margin is

Gnom [1K]

Answer:

a. $1,764,000.00

b. 12.08%

c. 19.17%

Explanation:

a. What is the company's net income?

Profit margin = Net income ÷ Sales

Therefore, we have:

9% = Net income ÷ $19,600,000

Net income = $19,600,000 × 9% = $1,764,000.00

Therefore, the net income of Aquilera, Inc. is $1,764,000.00

b. What is the company's Return on Assets (ROA)?

ROA = Net income ÷ Total Assets

ROA = $1,764,000 ÷ $14,600,000 = 0.120821917808219 = 12.08%

Therefore, the ROA of Aquilera, Inc. is 12.08%

c. What is the company's Return on Equity (ROE)?

Total Assets = Total Debt + Total Equity

Therefore,

Total Equity = Total Assets - Total Debt

Total Equity = $14,600,000 - $5,400,000 = $9,200,000

ROE = Net income ÷ Total Equity

ROE = $1,764,000 ÷ $9,200,000 = 0.191739130434783 = 19.17%

Therefore, the ROE of Aquilera, Inc. is 19.17%

5 0

4 years ago

It is estimated that between 1899 and 1924, about 2.1 million italians left the u.s. while almost ____ million arrived.

Semmy [17]

<span>About 3.8 million persons arrived in Italy during the period 1899 and 1924. This amount is far greater that the amount that left during that period.</span>

5 0

3 years ago

In the month of November Marigold Corp. wrote checks in the amount of $43300. In December, checks in the amount of $59239 were w

yanalaym [24]

Answer:

$11,977

Explanation:

The difference between the balance of the total checks written and balance of the total checks presented for withdrawal gives the amount outstanding.

As such, amount of outstanding checks at the end of December is the net of the balance of the checks written in November and December and the balance of the checks presented in the same period.

This is

= $43300 + $59239 - $39630 - $50932

= $11,977

4 0

4 years ago

Read 2 more answers

exercise 4-9A Calculate the balance of cash using a bank reconciliation (LO4-5) Spielberg Company's general ledger shows a check

algol13

Answer:

$22,789

Explanation:

One of the uses of the Bank Reconciliation Statement is to check the accuracy of the Cash Balance.

The Balance on the Bank Statement and that of the Cash Book in the Ledgers should always agree.

Bank Reconciliation Statement as a July 31

Balance as per Bank Statement $22,364

Add Lodgments not yet credited $1,745

Less unpresented checks ($1,320)

Balance as per Cash Book $22,789

Therefore,

The balance of cash using a bank reconciliation is $22,789

5 0

3 years ago

Did juice wrld actually die? Or did he fake his death?

Neporo4naja [7]

Answer:

he actually died

Explanation:

he died of an accidental drug overdose which caused him to have a seizure.

6 0

3 years ago

Read 2 more answers