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Bad White [126]
3 years ago
10

Emery mining inc. recently reported $170,000 of sales, $75,500 of operating costs other than depreciation, and $10,200 of deprec

iation. the company had $16,500 of outstanding bonds that carry a 7.25% interest rate, and its federal-plus-state income tax rate was 35%. how much was the firm's net income? the firm uses the same depreciation expense for tax and stockholder reporting purposes. (round your intermediate and final answers to two decimal places.)
Business
1 answer:
jonny [76]3 years ago
5 0
<span>Net Income After Tax = Net Income Before Tax - Tax Net Income Before Tax = 170,000-75,500-10,200+(16,500*0.0725)=85,496.25 Tax = 0.35*Net Income Before Tax=0.35*85,496.25= 29,923.69 Net Income After Tax = 85,496.25- 29,923.69 = 55,572.56</span>
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The following data were taken from the balance sheet accounts of Masefield Corporation on December 31, 2019.
viktelen [127]

Answer:

Please see below

Explanation:

a. A 5% stock dividend is declared and distributed when the market per share was $39.

Common stock par value($10) 500,000

Retained earning = 50,000 × 5% × 39

= $97,500

Common stock dividend distributed

50,000 × 5% × $10

= $25,000

See attached further explanations.

7 0
3 years ago
A company with shallow product line depth and broad product line breadth would have which of the following? Select one: a. few p
LiRa [457]

Answer: A- few product lines with many items in each

Explanation: A company with shallow product line depth and broad product line breadth would have few product lines with many items in each.

This means that a shallow product line depth is a few product lines. The company has limited variety of product.

While the broad product line breadth means that the company has many items available.

3 0
3 years ago
Read 2 more answers
Suppose the economy is operating at a point where output is less than the natural level of output. Which of the following statem
laiz [17]

Answer: a) the price level is less than the expected price level.

Explanation:

When the actual output in an economy is lower then the natural output it is called a Contractionary Gap and the price level will be lower.

This is because the Short Run Aggregate Supply Curve and the Demand curve will intersect at a lesser quantity which will equate to a lower price as well because the economy is producing less and the people are demanding less as well so the point at which they meet will be a lesser price.

3 0
3 years ago
Where the combined strength of two items is greater than the sum of their individual strengths. In the media business, this term
ddd [48]

Answer:

The correct answer is: Synergy.

Explanation:

The term synergy means cooperation and its most frequent use was, until now, in the field of medicine, where the synergistic effect of two organs is discussed as the improvement that is produced by the fact that these organs work together.

Applied to the business world, synergy is the production of additional effects that results from the joint work of two or more organizations, taking into account that those effects would not occur if those organizations acted separately.

Synergy in operational activities are those that apply to a function or resource in which the consequences of that collaboration are manifested. It can be synergies in marketing, such as those created when using sales channels, after-sales services or even common logistics; synergies in supplies, which generate benefits in purchase prices or payment conditions for volume purchases or transformation synergies or other operational activities, share production or management schedules or controls, etc.

4 0
3 years ago
Which one of the following groups of accounts only have debit balances
scoray [572]

Answer: b. Sales Returns, Wages, Machinery, Discount Allowed

Explanation:

Sales returns reduce the sales made. Sales are put on the credit side so transactions that will reduce sales such as sales returns would have to go on the debit side.

Wages are an expense and expenses are debited to show they are increasing so they have a debit balance.

Machinery is an asset and assets have debit balances.

Discount allowed reduces the sales balance and as mentioned above, transactions that reduce sales go on the debit side so this has a debit balance as well.

4 0
3 years ago
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