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yanalaym [24]
3 years ago
13

MNM & Co incurred depreciation expenses of $36,810 last year. The sales were $903,480 and the addition to retained earnings

was $11,530. The firm paid interest of $7,711 and dividends of $7,500. The tax rate was 33 percent. What was the amount of the costs incurred by the company?
Business
1 answer:
sergiy2304 [10]3 years ago
3 0

Answer:

The costs incurred by the company is the same as the costs of good sold  of the company-MNM&Co ,last year.

The costs of good sold=$830,556.01

Explanation:

The detailed computation is found in the excel file attached.

Download xlsx
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Dish Corporation acquired 100 percent of the common stock of Toll Company by issuing 10,000 shares of $10 par common stock with
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Answer:

a) $2,550,000

b) $1,550,000

c)$1,000,000

d) Goodwill is $50,000

Explanation:

Part A) Determine the total Assets of the business to be used in the consolidated balance sheet

The consolidated Total Asset for Dish Corporation and Toll Company is as follows:

The Book value of the assets of Dish + Toll's assets fair value + The goodwill

How to calculate the goodwill

First, dish paid the following for acquiring Toll = $10,000 @ $60 = $600,000

Secondly, The net worth of Toll at the time was = $1,300,000- $750,000 (Assets- Liabilities)= $550,000

The Good will = $600,000- $550,000

= $50,000

<u>Calculate Consolidated Asset</u>

The Book value of the assets of Dish + Toll's assets fair value + The goodwill

= $1,200,000 + $1,300,000 + $50,000 = $2,550,000

Part b) Total Liabilities

The book value of Dish Corporation Liabilities + The Fair value of Toll Liabilities

= $800,000 + $750,000 = $1,550,000

Part c) The total or consolidated Equity =

The formula for equity at this point = The Total Assets (Part A) - The Total Liabilities (Part b)

= $2,550,000 - $1,550,000

=$1,000,000

7 0
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Q 7.40: Approximately 85% of the customers at Hanson’s Furniture Store purchase furniture using store credit. The store’s averag
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They should therefore work to reduce their Receivables Collection time.

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Climate change is expected to have a major impact on local weather patterns across the United States (and the world). Use a spat
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Answer:

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Data for Corporation and its two divisions, Domestic and Foreign, appear below:
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Answer:

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