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weqwewe [10]
3 years ago
10

On December 31, 2019, The Bates Company's revenue is $440,000 and expenses total $340,000 before consideration of the following:

Accrued wages total $21,000; Accrued revenues total $56,000; Depreciation expense is $27,000; Rental revenue of $7,000 was earned; the rent from a tenant was initially recorded by Bates as unearned rent revenue; The income tax rate is 40% of income before income taxes. What is Bates' net income after consideration of the above information
Business
1 answer:
Rudik [331]3 years ago
7 0

Answer:

Explanation:

Revenue = $440,000

Expenses = $340000

Accrued wages = $21000

Accrued revenues = $56000

Depreciation exp = $27000

Rental value earned but not recorded = $7000

Income tax rate = 40%

Total revenue = 440000 +56000 + 7000 = $503000

Total expenses = 340000 + 21000 + 27000 = $388000

Income before tax = 503000 - 388000 = $115000

income tax = 115000 x .4 = $46000

Net income = 115000 - 46000 = $69000 .

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6 0
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Brian recently had to have minor surgery that cost him $3,000. He used the $2,300 remaining in his HSA but will pay the rest out
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The leaders of Barcelona Restaurant Group use ideas and tactics from multiple historical approaches to management. This approach
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3 0
2 years ago
Which of the following transactions or events would have no immediate effect on the times interest earned ratio but will cause d
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