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mylen [45]
4 years ago
14

Jacobsen Corporation prepares its financial statements applying U.S. GAAP. During its 2016 fiscal year, the company reported bef

ore-tax income of $621,000. This amount does not include the following two items, both of which are considered to be material in amount: Unusual gain $201,000 Loss on discontinued operations (301,000) The company's income tax rate is 30%. In its 2016 income statement, Jacobsen would report income from continuing operations of:
Business
1 answer:
maxonik [38]4 years ago
6 0

Answer:

Jacobsen Corporation

Income from continuing operations of $621,000 will be reported.

Explanation:

The income from continuing operations is the same thing as the operating income.  It is the pre-tax income that is reported on Jacobsen Corporation's income statement for the year ended December 31, 2016.  The tax rate of 30% is applied on this figure to obtain the income tax expense for the year.  But, for Jacobsen that has other unusual items, these are taken into consideration before the income tax is imputed to obtain the after-tax income.

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Explain the impact of taxation on the valuation of a country's currency
klemol [59]

Answer:

The value of a currency depends on factors that affect the economy such as imports and exports, inflation, employment, interest rates, growth rate, trade deficit, performance of equity markets, foreign exchange reserves, macroeconomic policies, foreign investment inflows, banking capital, commodity prices

6 0
3 years ago
Heinlein Assoc. accepted a two-year interest-bearing note for $1,000,000 on January 1, 2020. The note was accepted as payment fo
gladu [14]

Answer:

                                   Debit                              Credit

Cash                            1,000,000

Note receivable                                                  1,000,000

Cash                              70,000

Interest receivable                                               70,000

Explanation:

At December 31 2021 it would be the end of maturity of the 2 year note so the note would be have to be paid in full, so Heinlein assoc will receive $1,000,000 in cash for the note. Also because it is the end of the year they will also receive 7% interest which is (0.07*1,000,000)= 70,000

The Heinlein Assoc will debit cash by 1,000,000 and credit the note receivable by the same amount and they will debit 70,000 cash and credit interest receivable by 70,000.

8 0
3 years ago
List two components of visual aids that you have used recently. Describe how you used them.
gavmur [86]

Explanation:

  • PowerPoint:

Probably the most obvious type of visual support is Microsoft PowerPoint. Best used, it can really support you for your presentation; it could have the reverse effect, but it was poorly used.

The concepts are as follows:

Do                                                              

Use a sufficiently big font (at least 20pt).

Keep your background straightforward.

If appropriate, use graphics.

Make things visual.

Use endless bullet point list slides that are all the same

Don't

You can not read it so small.

Use a picky image from the background.

The screen is white or black.

Do not over-do it – it's annoying.

Use neverending bullet point list slides that all look the same

  • Paper handouts :

Handouts are extremely helpful. Use a presentation if your data is too comprehensive for a slide, if you really want your spectators to have their findings fully recorded. Take into account the merits of your presentations at the start, middle and end. Given too long and a diversion they could show. Given too late, too many needless references may have been made by the audience. Provided in the midst and the viewers will read and not listen predictably. One powerful way to prevent these troubles is to give the key steps during your presentation incomplete presentations. The lost details can be highlighted vocally and your viewer can then fill up the gaps.

7 0
3 years ago
Read 2 more answers
A. Equipment with a book value of $65,300 and an original cost of $133,000 was sold at a loss of $14,000.
Nikitich [7]

Answer:

$221,100

Explanation:

The cash flow statements is a part of the financial statements that shows the net cash used or generated from the company's activities. These activities are the operating, investing and financing activities.

Operating activities considers the changes in current assets and liabilities. Investing involves the cash flows as a result of long term asset related activities while financing are more of long term debts and stock related activities.

Cash outflows are considered to be negative and inflows positive.

For an asset sold at a loss, the amount received must be less than the book value hence the loss

Amount received = $65,300 - $14,000

= $51,300

This company's cash flows from investing activities

= $51,300 - $89,000 + $198,000 + $60,800

= $221,100

This is the net cash generated by investing activities.

3 0
3 years ago
How can companies increase return on common stockholders’ equity without increasing revenue?
Pani-rosa [81]
D) By reducing expenses you increase margins which means there is more money available for stockholders
4 0
2 years ago
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