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Black_prince [1.1K]
3 years ago
14

Use the following information to compute NET INCOME.

Business
1 answer:
maks197457 [2]3 years ago
5 0

Answer:

c. $1,890

Explanation:

As for the provided information, we have

Net income is the income after allowing expenses of every nature, and after taxes, but does not include the dividend as is not an expense but allocation or distribution of profits.

Thus net income shall be as follows:

Sales - Expenses

Sales = $10,000

Expenses = $4,000 + $1,100 + $1,750 = $6,850

Profit before taxes = $3,150

Less: Taxes @ 40% = $1,260

Net Income = $1,890

Correct option is

c. $1,890

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The answer is: $215,000

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Merchandise purchased and shipped as FOB destination, belongs to the seller until it has been properly delivered to the buyer. It will increase the inventory once it arrives on January 3.

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3 years ago
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Explanation:

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8 0
2 years ago
Read 2 more answers
If you bought a new truck for $40,000 for your auto parts delivery service, and you estimated that the truck would last you 200,
krok68 [10]

Answer:

First year depreciation expense is $2,250

Explanation:

Total depreciation expense is given by:

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So for the first year in which the truck is used 12,500 miles, the depreciation expense will be

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Question answered.

Note:

\frac{Depreciable \,Cost}{Units \,in \,Useful \,Life}{=Per-Unit\,Depreciation}

{Per-Unit\,Depreciation \times \,Units \,During \,Year = Annual \,Depreciation \,Expense

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3 years ago
The buyers purchased a residence for $195,000. They made a down payment of $25,000 and agreed to assume the seller's existing mo
Phoenix [80]

Answer:

Option (d) purchase-money mortgage

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Option (d) purchase-money mortgage

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3 years ago
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