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lidiya [134]
3 years ago
12

A company has the following budget information: Sales: $118,800; COGS: $48,500; Depreciation expense: $1,500; Interest expense:

$250; Other expenses: $41,880. If the company budgets 40% for income tax expense, the amount of budgeted income tax expense will be
Business
1 answer:
olga_2 [115]3 years ago
7 0

Answer: <em>Amount of budgeted income tax expense = $10,668</em>

Explanation:

Given:

Sales = $118,800

COGS = $48,500

Depreciation expense = $1,500

Interest expense = $250

Other expenses = $41,880

We'll compute the amount of budgeted income tax expense using the following formula:

Amount of budgeted income tax expense = 40% of (Sales - COGS - Depreciation expense - Interest expense - Other expenses)

= $118,800 - $48,500 - $1,500 - $250 - $41,880

= 40% x $26,670  

= $10,668

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Lily wants to build a business. She has very little capital. She does, however, have a partner with which she could run a busine
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The correct answer is option (b) Little capital

Explanation:

Solution

With a little capital this will help Lily to choose a sole proprietorship organization for her business. a sole proprietorship can begin with a little capital.

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: which statement is true about nonexempt employees? group of answer choices under the flsa, executive, professional, and admini
Kobotan [32]

The true statement that we can see about the non exempt employees is that nonexempt employees are covered by flsa and include most hourly workers.

<h3>What is meant by non exempt employees?</h3>

Employees who are not excluded from pay have a right to the minimum wage and overtime compensation if they put in more than 40 hours per week.

For each hour over 40 in a workweek, businesses are required by the FLSA to pay non-exempt workers no less than time and a half their usual wage rate. If a non-exempt worker isn't paid hourly, one can determine their hourly rate by dividing their total earnings by the number of hours they worked. When making these calculations, vacation, holidays, and sick days shouldn't be taken into account unless the person really worked on those days.

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1 year ago
Akers Company sold bonds on July 1, 20X1, with a face value of $100,000. These bonds are due in 10 years. The stated annual inte
Taya2010 [7]

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$76,620.83

Explanation:

According to the scenario, computation of the given data are as follows

Future Value (FV) = $100,000

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By putting the value in excel present value formula, we get,

PV = $76,620.83

Attachment is attached below

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