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2 years ago

Information for Hobson Corp. for the current year ($ in millions):

Business

1 answer:

madam [21]2 years ago

8 0

Answer:

Income before tax of $17,000,000

net income $12,750,000

Explanation:

Hobson income from continuing operations can be computed by eliminating transactions relating to discontinued operations from the details provided:

Income from continuing operations $215,000,0000

additional warranty expense ($70,000,000)

additional depreciation ($145,000,000)

non-deductible portion of advertising $17,000,000

income before tax $17,000,000

tax at 25%*$17 million ($4,250,000)

Net income $12,750,000

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2 years ago

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A firm sells 2000 units at £500 each. If fixed costs are £50,000 and variable costs are £100 per unit, calculate the total costs

Blababa [14]

Answer: £ 250,000

Explanation:

Given: Fixed costs = £50,000

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Variable cost per unit = £100

Since Total variable cost = (Number of units) x (Variable cost per unit)

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We know that,

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2 years ago

Pina Colada Corp. holds Tamarisk, Inc. $44400, 120-day, 15% note. The entry made by Pina Colada Corp. when the note is collected

Dafna1 [17]

Answer and Explanation:

The journal entry is shown below

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To Interest receivable ($44,400 × 15% × 120 days ÷ 360 days)

(Being the cash received is recorded)

Here we debited the cash as it increased the assets and at the same time we credited the interest receivable and the note receivable as it decreased the assets

The same is to be considered

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2 years ago

For each of the following corporate formations, (1) write the amount of gain or loss that will be recognized by the shareholders

Maslowich

Answer:

Back Stop, Inc.

1. The amount of gain or loss that will be recognized by the company:

a. $30,000 gain

b. $80,000 loss

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a. $150,000

b. ($80,000)

Explanation:

1) Data and Calculations:

a. Building $150,000 Capital, Kelly $120,000 Unrealized gain $30,000

b. Unrealized loss $80,000 Capital, Kelly $80,000

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2 years ago

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iren2701 [21]

Answer:

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Explanation:

Elena might be right about American consumers liking African products, but if importing those goods is too difficult, or is subject to several trade barriers, or some other issues, then Elena might have to reconsider her idea. Sometimes no matter how good a business idea is, if it is impractical to carry out, then t is useless.

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2 years ago