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mylen [45]
3 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]3 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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The right answer for the question that is being asked and shown above is that: "d. Disease killed more people in the middle colonies because of its cooler climate, resulting in a labor shortage." All of the following are true statements about the economy of the middle colonies, EXCEPT Disease killed more people in the middle colonies because of its cooler climate, resulting in a labor shortage.<span>
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8 0
3 years ago
Kirsten believes her company's overhead costs are driven (affected) by the number of direct labor hours because the production p
Vlad1618 [11]

Answer:

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Explanation:

Giving the following information:

Product A:

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Product B:

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Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

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5 0
3 years ago
Assume that the labor market for retail workers is generally unskilled. If a minimum wage is set in the labor market for retail
bazaltina [42]

Answer:

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Explanation:

In the attached diagram the scenario is illustrated.

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3 0
3 years ago
he appropriate discount rate for the following cash flows is 8 percent compounded quarterly. Year Cash Flow 1 $700 2 700 3 0 4 1
rewona [7]

Answer:

Thus, the present value is $2045.52.

Explanation:

Use the below formula to find the present value:

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Present value :

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Thus, the present value is $2045.52.

4 0
3 years ago
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algol13

Answer: E

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7 0
4 years ago
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