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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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How would you expect each of the following to affect the economy-wide demand for U.S. money (currency)? a. Competition among bro
Anna007 [38]

Answer:

Market interest rate is also known as nominal interest rate. The nominal interest rate is sum of real interest rate and inflation rate. Fed try to control the monetary condition and real interest rates by manipulating money supply. These interest rates also affect the demand of money in market.

Part (a)

When commission of brokers decreases then buying and selling of stocks becomes easier and cheaper and people would transact in more and more stocks which will decrease the demand of money as liquidity of stock has increased.

Part (b)  

When grocery store starts accepting credit cards then people would need to carry less cash and demand of money will decrease.

Part (c)

As financial investors are now worried about riskiness of stocks so they will decrease their investment in stocks and prefer holding more money so demand of money will increase.

5 0
3 years ago
Cynthia works as a salesperson at an apparel showroom. A week ago, she met a customer who stated that a particular dress was qui
olasank [31]

Answer:

Assumptive close

Explanation:

  • Discount means cut off price

\boxed{\sf Discount=Sold\:Price-Cost\!Price}

Or simply

\\ \sf\longmapsto Discount=S.P-C.P

8 0
3 years ago
What are the 3 levels of access that can be granted to Team users of QuickBooks Online Accountant
zimovet [89]

Answer:

In QuickBooks Online Accountant, users with admin access and Firm Owners and have the authority to access of other users in the firm. The 3 levels of access that can be granted to Team users of QuickBooks Online Accountant are:

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3 0
2 years ago
Madison Inc. reported sales of $1,000,000, a debit balance in Accounts Receivable of $80,000, and a credit balance of $5,000 in
aniked [119]

Answer:

Accounts Receivable  $80,000,

Bad debt losses of 1% of credit sales= 1% * $ 80,000= $ 800

Allowance for Doubtful Accounts $5,000 credit

Bad Debts                                      $ 800 Debit

Allowance for Doubtful Accounts $4,200 credit

Two entries will be required

For recording Bad debts Expense

Bad Debts Expense $ 800 Dr

Allowance for Doubtful Accounts $ 800 credit

Adjusting Entry at year end.

Allowance for Doubtful Accounts $ 800 Debit

Account Receivables                   $ 800 Credit

4 0
3 years ago
Read 2 more answers
Younger employees also are more likely to use the Internet and social media to accomplish their tasks. This is an example of the
DaniilM [7]

Answer: Expectation and norms

                                   

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It is automatically assumed that young employees will use more technology as their generation is the when where the technology gained its pace. Thus, the assumption in the statement shows expectations and norms.

5 0
3 years ago
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