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Ugo [173]
2 years ago
7

During the​ year, EcoWash Corporation has $ 310 comma 000 in​ revenues, $ 95 comma 000 in​ expenses, and $ 6 comma 000 in divide

nd declarations and payments. Net income for the year​ was:
Business
1 answer:
fiasKO [112]2 years ago
8 0

Answer:

$215,000

Explanation:

Given that,

EcoWash Corporation has:

Revenues = $310,000

Expenses = $95,000

dividend declarations and payments = $6,000

Hence, the net income is determined by subtracting expenses from the revenues.

Net income:

= Revenues - Expenses

= $310,000 - $95,000

= $215,000

Therefore, the EcoWash Corporation has a net income of $215,000 for the year.

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Given the following data on bond yields:
Alexandra [31]

Answer:

Explanation:

a) Confidence index=Yield on top-rated corporate bonds/ Yield on intermediate-grade corporate bonds

This year=9.3%/11.8%=0.788

Last Year=9.8%/11.3%=0.8673

b) From the calculations we can see that confidence index is decreasing from 0.8673 to 0.788.

4 0
3 years ago
On January 15, the end of the first pay period of the year, North Company’s employees earned $26,000 of sales salaries. Withhold
Contact [7]

Answer: Please see the  explanation column

Explanation:

Journal entry to record North Company’s salaries expense and related liabilities.

Date            Particulars                        Debit                 Credit

Jan, 15 Sales salaries expense      $26,000

     To  FICA Social Security taxes

payable at 6.2%                                                                $1,612

     To FICA Medicare taxes

payable at 1.45%                                                                 $377

  To federal income taxes payable                                 $2,000

To employee medical insurance payable                           $429

To  employee union dues payable                                      $180

 Sales Salaries Payable                                                      $21.402

Working :

FICA Social Security taxes = 6.2% x $26,000 = $1,612

FICA Medicare taxes = 1.45% x 26,000 = $377

Salary payable =Sales salaries expense -(FICA Social Security taxes payable + FICA Medicare taxes payable + federal income taxes payable+medical insurance payable  +employee union dues payable  ) = 26,000 - (1612+377+2000+429+180)=$21,402.

6 0
3 years ago
Rodriguez Corporation issues 18,000 shares of its common stock for $174,800 cash on February 20. Prepare journal entries to reco
AleksAgata [21]

Answer:

a.

Date              Account Title                                                   Debit           Credit

Feb. 20         Cash                                                            $174,800

                     Common stock                                                              $144,000

                     Paid-In Cap. in excess of par                                          $30,800

<u>Working</u>

Common stock = 18,000 * 8

= $144,000

Paid-in cap. = 174,800 - 144,000

= $30,800

b.

Date              Account Title                                                   Debit           Credit

Feb. 20         Cash                                                            $174,800

                     Common stock                                                              $174,800

c.

Date              Account Title                                                   Debit           Credit

Feb. 20         Cash                                                            $174,800

                     Common stock                                                               $72,000

                     Paid-In Cap. in excess of par                                       $102,000

<u>Working</u>

Common stock = 4 * 18,000 = $72,000

Paid in cap = 174,000 - 72,000 = $102,000

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2 years ago
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3 years ago
The after-tax cost of debt ________ the before-tax cost of debt for a firm that has a positive marginal tax rate.
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Answer:

the correct answer is

A) is always less than

8 0
3 years ago
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