On a normal roadway, a driver in Lane Position 2 may be preparing to _________

The before-tax income for Culver Co. for 2017 was $101,000 and $84,100 for 2018. However, the accountant noted that the followin

valentina_108 [34]

Answer:

Corrected income before tax year 2017 = $65,690

Corrected income before tax year 2018 = $102,467

Explanation:

According to the scenario, computation of the given data are as follow:-

Particular Year 2017 ($) Year 2018 ($)

Income before tax 101,000 84,100

Corrections

1. In 2017, unearned sales -36,200

Sales added in 2018 36,200

2. In 2017, understated ending inventory 9,500

In 2018, overstated opening inventory -9,500

3. Add-wrongly charged interest expenses 13,800 13,800

Less-actual interest expenses

In 2017 ($230,000-$14,000)×7%=$216,000×7% -15,120

In 2018, bond of carrying amount

=$216,000+($15,120-$13,800)=$217,320

In 2018, Actual interest expense=($217,320×7%) -15,212

4 Add-wrongly charged depreciation expenses

In 2017=($8,100×10%) 810

In 2018,=($8,100-$810)×10%+$8,500×10% = 1,579

Less-actual expenses for repairs -8,100 -8,500

Corrected income before tax 65,690 102,467

4 0

4 years ago

_________obtain goods from manufacturers and sell them to consumers.

zzz [600]

Answer:

market?

Explanation:

cause in the end it says sell them

6 0

3 years ago

Read 2 more answers

Suppose the Fed carries out an open market sale of $100m and simultaneously decreases the minimum required reserve ratio from 10

andrey2020 [161]

Answer:

loanable amount after Fed operation = $950 M

Securities after fed operation = $50 M

attached below is the T-account table

Explanation:

Given data:

For assets : securities = $100 M , Loans = $800 M

For Liabilities : Constant demand deposit = $1000 M

difference between the assets and liability = $100 M and this makes the Banking system unbalanced hence the Banking system needs the intervention of the Fed. and the reduction in the required reserve ratio from 10% to 5% is the right action

How with the reserve ratio reduced to: 0.05

hence required Minimum required securities after operation = 0.05 * 1000 M = 50 M

Note : Total demand deposits = securities + loanable amount

therefore loanable amount after Fed operation = $1000 M - $50 M = $950

Attached below is the T-table

When both tables are compared it can be seen that there is a significant increase in the loanable amount after the Fed's operations and increase in Loanable amount transcends to increase in Monetary base

5 0

4 years ago

You earn $420 per week. you put socual security taxes

Drupady [299]

2940 would be 420 per week

4 0

3 years ago

NewCorp has net income of $360. The firm pays out 35 percent of the net income to its shareholders as dividends. During the year

zmey [24]

Answer:

The cash flow to stockholders amounts to $45

Explanation:

Cash flow to stockholders is the term which is defined as the cash amount which the company pays out to the shareholders.

The cash flow to stockholders is computed as:

Cash flow to stockholders = Dividend paid - New equity raised

where

Dividend paid is computed as:

Dividend paid = Net Income × %

= $360 × 35%

= $126

New equity raised is $81

So, putting the values above:

Cash flow to stockholders = $126 - $81

Cash flow to stockholders = $45

4 0

3 years ago

On a normal roadway, a driver in Lane Position 2 may be preparing to __________ .