1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
inysia [295]
3 years ago
5

The Ziltech Consulting Group reported net income of $1,000,000 for its fiscal year ended December 31, 2021. In addition, during

the year the company experienced a positive pretax foreign currency translation adjustment of $400,000 and an unrealized pretax loss on debt securities of $80,000. The company’s effective tax rate on all items affecting comprehensive income is 25%. The amount of comprehensive income reported on statement of comprehensive income for 2021 would be:
Business
1 answer:
grigory [225]3 years ago
7 0

Answer:

$1,240,000

Explanation:

Given that,

Net income = $1,000,000

Pretax foreign currency translation adjustment = $400,000

Unrealized pretax loss on debt securities = $80,000

Effective tax rate = 25%

Total other comprehensive income:

= Foreign currency translation adjustment - Loss on debt securities

= [$400,000 × (1 - 25%)] - [$80,000 × (1 - 25%)]

= ($400,000 × 0.75) - ($80,000 × 0.75)

= $300,000 - $60,000

= $240,000

Comprehensive income:

= Net income + Total other comprehensive income

= $1,000,000 + $240,000

= $1,240,000

You might be interested in
Select the correct answer. Which kind of relativism suggests that the moral truth is subjective with regard to ethical practices
kondor19780726 [428]

<u>Answer:</u> A. Moral relativism

<u>Explanation:</u>

Moral relativism means the moral judgement made by people based on their differences such as culture or country, it denotes that there is no one method where people can decide what is right and what is wrong.

The four types of moral relativism are naive relativism, cultural relativism, role relativism and social relativism. Naive relativism means individuals can have own moral values. Cultural relativism means people should not judge based on one's culture.  Role relativism means a person with job role should not make judgments on others beliefs.

3 0
3 years ago
Which of the following practices are not considered essential for a comprehensive JIT implementation: Uniform production (also k
bogdanovich [222]

Answer:

False ( "Large lot sizes" is not considered essential for JIT )

Explanation:

Just in time is an arrangement and alignment of raw material supply with the production process of the business. It minimizes the holding cost, lead time required for delivery of raw material, the setup times and sizes of orders.

The Large lot sizes is not a characteristics of JIT because it may requires the storage facility to place the large orders until used in production which might increase the holding cost.

So, Large Lot Sizes are not considered essential for a comprehensive JIT implementation.

4 0
3 years ago
Upon graduating from college, you make an annual salary of $58,381. You set a goal to double it in the future. If your salary in
Fynjy0 [20]

Answer: 9.20

Explanation:

In finance there is a rule for calculating this called 'The Rule of 70'.

With The Rule of 70, you are able to calculate the amount of time it will take an investment to double if you divide 70 by the growth rate of the investment.

In this scenario, the investment is your salary and the growth rate is 7.61% pee year.

The amount of time it will take to double is therefore,

= 70 / 7.61

= 9.19842312746

= 9.20 years.

It will take 9.20 years to double.

7 0
3 years ago
Which of the following insurance types will cover the possessions inside your home?
OleMash [197]
I wanna think prob  full coverage home owners insurance 
4 0
3 years ago
During 2004, ABC Company had $750,000 of net credit sales. Accounts Receivable had a December 31, 2004, balance of $250,000.
eimsori [14]

Answer:

c. $24,500

Explanation:

The allowance for doubtful accounts is a contra-asset account that records the amount of receivables expected to be uncollectiblea, makes a reduction of the total amount of accounts receivable appearing on a company’s balance sheet. There are two way to estimate uncollectible accounts: the percentage of sales method and the accounts receivable aging method.

ABC Company uses the percentage of sales method - application a flat percentage to the total amount of net credit sales for the period.

Estimated uncollectible = 3% x $750,000 = $22,500

The company establishes an allowance for doubtful accounts for $22,500 while simultaneously reporting $22,500 in bad debt expense.

Before adjusting on December 31, 2004, the Allowance for Doubtful Accounts had a credit balance of $2,000.

The balance in the allowance for doubtful accounts after adjustment is $22,500 + $2,000 = $24,500

8 0
3 years ago
Other questions:
  • Carl lives in a small new england town where he and other residents attend monthly town meetings. at these meeting they publicly
    5·1 answer
  • Tim mows neighborhood lawns for extra money. Suppose that he would be willing to mow one lawn for ​$14​, a second lawn for ​$17​
    10·1 answer
  • A city mandates that all businesses who sell goods and services to the city must pay at least a living wage to their workers tha
    11·1 answer
  • Which of the following is a characteristic of the Consolidation phase of e-commerce? predominance of pure online strategies bran
    7·1 answer
  • Develop a list of the main arguments, pro and con, that could be presented at a public hearing on the matter by members of each
    9·1 answer
  • Producers use marketing intermediaries because they ________. Group of answer choices provide technical expertise for faster pro
    15·1 answer
  • A local government awards a landscaping company a contract worth $1.5 million per year for five years for maintaining public par
    7·1 answer
  • The variable overhead efficiency variance measures the difference between the actual level of activity and the standard activity
    12·1 answer
  • Write a proposal on why your business should implement a recycling program. (will give brainliest)
    12·1 answer
  • lourdes corporation's 11% coupon rate, semiannual payment, $1,000 par value bonds, which mature in 15 years, are callable 4 year
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!