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Kryger [21]
3 years ago
11

Income Statement. A firm’s income statement included the following data. The firm’s average tax rate was 20%. (LO3-1) Cost of go

ods sold $8,000 Income taxes paid $2,000 Administrative expenses $3,000 Interest expense $1,000 Depreciation $1,000 What was the firm’s net income? What must have been the firm’s revenues? What was EBIT?
Business
1 answer:
Blababa [14]3 years ago
7 0

Answer:

Revenues: $23.000

Net Income : $8.000

EBIT: $11.000

Please see details below:

Explanation:

Income Statement 2017

Revenues $23.000

Cost of goods sold -$8.000

Depreciation -$1.000

Gross Profit $14.000

Administrative Expenses -$3.000

Net Income Before Taxes and Int $11.000

Interest Expenses -$1.000

Net Income Before Taxes $10.000

Tax RATE 20%  -$2.000

Net Income after Taxes $8.000

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goblinko [34]
Coupon rate is the yearly interest earned by a loan and it can be calculated with

C = \frac{i}{p}

where i is the annual interest and p is the par value of the bond or the initial loan amount.

For this particular case, since the semiannual payment is $28.50, then the annual payment is 2 x 28.50 = $57.00.

Thus, we have 

C = \frac{57}{1000} = 0.057

From this, the coupon rate is 0.057 x 100% = 5.7%.
Answer: 5.7%

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3 years ago
It takes a total of 475 seconds for one technician to assemble one airrules smart phone, working alone. however, airrules manufa
maks197457 [2]
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6 0
3 years ago
Zeta, Inc., a calendar year taxpayer, suffers a casualty loss of $45,000. Zeta recovered insurance of $30,000. How much of the c
mezya [45]

Answer:

$15,000

Explanation:

Calculation to determine How much of the casualty loss will be a tax deduction to Zeta, Inc.

Using this formula

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Let plug in the formula

Casualty loss tax deduction=$45,000-$30,000

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Therefore the amount of the casualty loss that will be a tax deduction to Zeta, Inc. is $15,000

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2 years ago
What is brand repositioning?
timofeeve [1]
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Hope this helps!
3 0
3 years ago
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kiruha [24]

Answer:

As assets but separately from other receivables.

Explanation:

When a company lends money to its employees, managers or affiliated companies, or sells goods or services to them, it must report those accounts or notes receivables in a separate account than normal transactions carried out with external customers. This happens because the transactions must be verifiable to check if they were legal and followed the proper procedures, and at what price or interest rate were they carried out. E.g. a corporation that lens $10 million to its CEO at 1% interest rate is not doing things properly and that transaction should be reversed and proper interest rates must be charged.  

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