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alexgriva [62]
3 years ago
6

For the past year, Momsen, Ltd., had sales of $46,382, interest expense of $3,854, cost of goods sold of $16,659, selling and ad

ministrative expense of $11,766, and depreciation of $6,415. If the tax rate was 35 percent, what was the company's net income?
Business
1 answer:
Ivenika [448]3 years ago
6 0

Answer:

Net income= $11,412.2

Explanation:

Giving the following information:

sales of $46,382

interest expense of $3,854

cost of goods sold of $16,659

selling and administrative expense of $11,766

depreciation of $6,415

t=0.35

We need to use the following formula:

Net income= (sales - COGS - selling and administrative expense - interest expense - depreciation) - tax + depreciation

First, we deduct Depreciation to decrease the tax base, but because it is not an actual payment, we have to sum it after tax.

Sales= 46,382

COGS= (16,659)

Gross profit= 29,723

Selling and administrative expense= (11,766)

Interest=(3,854)

Depreciation= (6,415)

EBT= 7,688

Tax= (7,688*0.35)= (2,690.8)

Depreciation= 6,415

Net income= $11,412.2

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Bill Carson owned some land that was mortgaged to Bob Jordan. Carson erected a building on this land in which he installed heavy
irinina [24]

Answer:

In this case, when Carson mortgaged the land to Bob Jordan. he mortgaged the land and not the building or furniture.

The building, Plant and Machinery placed by Bill is not included for the mortgaged carried out by Bill and its free from any impediment.

Secondly, Bob cannot have an assert on the Building, Plant and Machinery unless its specifically mentioned in the original mortgaged documents.

Explanation:

Solution

In this scenario when Carson mortgaged the land to Bob Jordan. he mortgaged the land and not the building or furniture.

If Bill Carson has taken the loan without no alternative, what it implies is that if the land is not sufficient to repay the loan taken, Bob cannot have claim on the personal property of Bill.

The building, Plant and Machinery installed by Bill is not part for the mortgaged done by Bill and its free from any burden.

Bob cannot have any claim on the Building, Plant and Machinery unless its specifically stated in the original mortgaged documents.

7 0
3 years ago
Leto Company manufactures a certain type of alloy. The alloy undergoes a hardening process. The hardening unit is operating at f
almond37 [142]

Answer:

Leto Company

The unit contribution margin per production constraint hour is:

= $0.00637.

Explanation:

a) Data and Calculations:

Unit selling price =              $96.80

Unit variable cost =              (23.50)

Unit contribution margin = $73.30

Hardening treatment hours per unit = 5 hours

Units of alloy produced = 2,300

Total hours spent on hardening treatment = 11,500 (5 * 2,300)

Contribution margin per production constraint hour = Unit contribution margin/Total hours spent on hardening treatment

= $0.00637 ($73.30/11,500)

b) The unit contribution margin per production constraint hour shows the contribution margin that is made per unit of the production constraint.  The production constraint is the limited input resources that are available for production.  It is a product of the units of the alloy that Leto produces and the number of hours required to produce one unit.

3 0
3 years ago
In the last few decades the car manufacturing sector has found it difficult to compete with foreign car imports. High labor cost
Vedmedyk [2.9K]

A modest inflation would help the car manufacturing industry compete with foreign car manufacturers because c. It could allow real wages to downwardly adjust more easily.

<h3>How would a modest inflation help with foreign competition?</h3>

When there is modest inflation, it means that the real wages paid to the employees in the car companies would fall.

This would reduce the real costs to the card companies in terms of producing cars. They will then be able to charge lower selling prices which would allow them to compete with cheaper imports.

Options for this question include:

a. The consumers of the cars have increased purchasing power.

b. Business loans would cost less for the U.S. car manufacturers.

c. It could allow real wages to downwardly adjust more easily.

Find out more on competing with foreign producers at brainly.com/question/24100924.

#SPJ12

3 0
2 years ago
Trade Barriers do not protect homeland industries from corporations.<br> True or false?
kap26 [50]
I would say it’s false
3 0
3 years ago
Read 2 more answers
ANSWE IMMEDIATELY .
hammer [34]

Answer:

A

Explanation:

I'm pretty sure

Organization goals are the long term goals for their desired future and their future

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3 years ago
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