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telo118 [61]
3 years ago
10

Interest expense is not:

Business
1 answer:
Veseljchak [2.6K]3 years ago
7 0

Answer:

The correct answer is letter "C": Likely to fluctuate when sales change.

Explanation:

Interest Expense is the cost of borrowing money. Usually, interest is paid on a credit card for some form of debt through a bank loan, mortgage, credit line or outstanding balance. The amount charged is equal to the interest rate times the outstanding balance. Interest payments are reported on an income statement as non-operating expenses.

<em>Sales changes do not influence the interest expense.</em>

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True.............:  :3
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Classify the following as either a revenue or a capital expenditure.
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Answer and Explanation:

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So based on the above, the classification is as follows  

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c. Revenue expenditure  

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Type the correct answer in the box. Spell all words correctly. Over the last decade, George’s company has been intentionally red
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2 years ago
Organizational portfolio plan, the final phase of the strategic planning process, involves?
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3 0
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Last year, Hampton Corporation had sales of $1,855,000. The firm's costs of goods sold amounted to 70% of sales. Hampton also pa
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Answer:

Tax Liability = $74,550

Explanation:

Particular                                   Amount

Sales                                             $1,855,000

Less: COGS(70% of sales)           <u>$1,298,500</u>

Gross Profit                                   $556,500

Less: Operating expenses           <u>$225,000</u>

Operating profit                            $331,500

Add: Taxable dividend income    $40,000

Add: Capital gain                           $10,000

Less: Interest Expenses                <u>$26,500</u>

Net Taxable Income                      $355,000

Tax rate = $355,000 * 21%  

Tax Liability = $74,550

Note: 21% is the Tax rate approved by the Tax cuts and Job Acts of 2017.

3 0
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