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Dmitry_Shevchenko [17]
3 years ago
10

Pharoah Company began the year by issuing $77500 of common stock for cash. The company recorded revenues of $783000, expenses of

$657000, and paid dividends of $35000. What was Pharoah net income for the year?
Business
1 answer:
alukav5142 [94]3 years ago
8 0

Answer:

$126,000

Explanation:

Net income is computed by deducting total expenses from total income.

Accordingly,

net income = total revenue - total expenses

= 783,000 - 657,000

= $126,000

Additional common stock issuance will increase common stock and cash balance (both on the statement of financial position, not the income statement). Dividend payment is deducted after net income, and does not affect net income computation.

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A mail-order house uses 18,000 boxes a year. Carrying costs are 60 cents per box a year, and ordering costs are $96. The followi
blondinia [14]

Answer:

Hie, the <em>price schedule is missing</em> from your question however the important principles are explained below.

a. The optimal order quantity

Optimum order quantity is the order level that results in minimum ordering costs and holding costs.

Optimum order quantity  = √ (2 × Annual Demand × Cost per order) / holding cost per unit

                                         

b. The number of orders per year.

orders per year = Annual Demand / optimal order quantity

This calculates the number of orders to be placed during the year at the optimum order quantity.

                         

8 0
4 years ago
Hidalgo is primarily liable on a promissory note. Because of this, he: a. is required to pay, unless he has a valid defense to p
MatroZZZ [7]

Answer:

The correct option is A

Explanation:

Promissory note is the kind or type of note which is considered to be a financial instrument,and it comprise of a written promise made by one party  to another party in order to pay a specific or particular amount or sum of money or amount, either on a particular or a future date or on demand by the party.

This note involve the terms that are pertaining to the indebtedness like the maturity date, issuer signature, principal amount, place of issuance and the interest rate.

Therefore, Hidalgo is liable on the promissory note and because of this, he is required to pay until he has a valid and a genuine defense to payment.

4 0
3 years ago
Amounts withheld from each employee for social security and medicare vary by state.
satela [25.4K]

It is False.

No matter which states the employee lives, the amounts withheld from each employee for social security and medicare do not vary by state. The present tax rate for social security for employers and employees is 6.2% and the present current rate of medicare is 1.45% for both the employer and employee.

Employers are typically required to withhold Social Security and Medicare taxes from an employee's paycheck and pay the employer's share of those taxes.

The Social Security Tax and the Medicare Tax have different rates, and only the Social Security tax has a salary cap. The base salary ceiling is the maximum taxable salary in the year. Determine the withholding amount for Social Security and Medicare contributions by multiplying each payment by the employee's tax rate.

To learn more about social security and medicare from given link

brainly.com/question/19277833

#SPJ4

3 0
2 years ago
When only certain eoc team members or organizations are activated to monitor a credible threat, which activation level has been
skelet666 [1.2K]

The answer is:  Level 1 – Full Activation

In this level, the state would give a notification to all states' supporting agencies that a start plan is about to be implemented. The  Division of Emergency Management personnel  would soon take control to organize these agencies and assign them with each of their own roles.

5 0
3 years ago
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Answer:

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Explanation:

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