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Nikolay [14]
3 years ago
6

Provincial Inc. reported the following before-tax income statement items:

Business
1 answer:
mezya [45]3 years ago
4 0

Answer:

The income tax expense is $122,750

Explanation:

The computation of the amount of income tax expense is shown below:

As we know that

Income before tax = Operating income - non operating losses

= $580,000 - $89,000

= $491,000

Now the income tax expense is

= Income before tax × income tax rate

= $491,000 × 25%

= $122,750

Hence, the income tax expense is $122,750

This is the answer but the same is not provided in the given options

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Zinaida [17]
If it does help please Mark Brainliest...

The unit that is used in the denominator is the one to cancels the unit that appears in a numerator.


Thanks
5 0
2 years ago
_____ offer goods to business customers. These business customers are too small to merit a sales call from the distributor s rep
Neporo4naja [7]
The answer is D. Cash and carry wholesalers

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3 years ago
___________ income is the amount that is used to calculate how much tax you owe.
snow_tiger [21]

Answer:

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8 0
2 years ago
Cosmo has just made his dream come true of buying the property that his restaurant occupies. His excitement is short lived, howe
forsale [732]

Answer:

Realistic aspect

Explanation:

Considering the scenario described in the question it can be concluded that Cosmo shifted his focus onto which REALISTIC aspect of goal-setting theory.

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This implies that Cosmo is more realistic in terms of his financial abilities and willingness to work toward the goal of paying off the mortgage loan

7 0
2 years ago
Recording purchases made for cash and on account. LO 8-1 Lewis Corporation engaged in the following transactions during June. DA
vampirchik [111]

Answer:

(A) June 4

Inventory debit 1,065

Accounts Payable credit 1,065

(B) June 15

Inventory debit 1,550

Cash credit 1,550

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Cash credit 1,065

Explanation:

(A) there is no information or suggestion that Lweis will take the discount, we post as it was nominal, if later on it is paid within the discount period, we will recognize it. <u>No discount is recorded</u>

(B) Simple: increase the inventory receive and decrease cash by the amount paid.

(C) We settle the account payable for the nominal of the purchase.

It wasn't within the discount period. So <u>no discount is granted.</u>

5 0
2 years ago
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