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
Dima020 [189]
3 years ago
7

In its first year of operations Best Corp. had income before tax of $500,000. Best made income tax payments totaling $210,000 du

ring the year and has an income tax rate of 40%. What is Best's net income for the year?
a. $299,000.
b. $161,000.
c. $292,000.
d. $302,000.
Business
1 answer:
Sedaia [141]3 years ago
5 0

Answer:

The correct answer is $300,000.

Explanation:

According to the scenario, the given data are as follows:

Income before tax = $500,000

Tax rate = 40%

Tax amount = $500,000 × 40% = $200,000

So, we can calculate the Best's net income by using following formula:

Net Income = Income Before Tax - Tax amount

= $500,000 - $200,000

= $300,000

The Best's net income is $300,000.

You might be interested in
True or false. When customers increase their borrowing, interest rates tend to decline
sasho [114]
The answer to your question is false
3 0
1 year ago
Fixed overhead was budgeted at $200,000, and 25,000 direct labor hours were budgeted. If the fixed overhead volume variance was
Liono4ka [1.6K]

Answer:

$208,000

Explanation:

Calculation for fixed overhead applied

Using this formula

Fixed overhead applied =Budgeted Fixed overhead+Fixed overhead volume variance

Let plug in the formula

Fixed overhead applied =$200,000+$8,000

Fixed overhead applied=$208,000

Therefore Fixed overhead applied must be $208,000

3 0
2 years ago
Ashton Woods has begun building new townhome communities in order to appeal to smaller families who would like a beautiful upsca
I am Lyosha [343]

Answer:

d) All of the above

Explanation:

Here are the options to this question :

a) Geographic

b) Demographic

c) Psychographic

d) All of the above

e) None of the above

Geographic  segmentation is the segmentation of people based on their locations

When Ashton Woods determines that homeowners are seeking locations convenient to good, local schools, he is segmenting by geography.

Demographic segmentation is the segmentation of people based on demographics such as age, income, gender, ethnicity.

When Ashton Woods profiles households based on the income they earn, he is doing demographic segmentation

Psychographic  segmentation is the segmentation of a group of people into groups based on certain psychological characteristics

When Ashton Woods determines that homeowners would want like a beautiful upscale home, without the cost of maintaining a large yard. He is segmenting based on  Psychography

4 0
3 years ago
Which of the following reflects the order of operations?
Gnesinka [82]
If you are talking about the priority of the order of operations. It is C.
5 0
3 years ago
Read 2 more answers
A project that cost $80000 with a useful life of 5 years is being considered. Straight-line depreciation is being used and salva
just olya [345]

Answer:

22%

Explanation:

Net income = Annual cash flow - Depreciation

Net income = 24350 - (80,000-5,000 / 5)

Net income = 24350 - 15,000

Net income = $9350

Average investment = Beg. value + End. Value / 2

Average investment = 80,000 + 5,000 / 2

Average investment = $42,500

Annual rate of return = Net income / Average investment * 100

Annual rate of return = $9350 / $42,500 * 100

Annual rate of return = 0.22 * 100

Annual rate of return = 22%

7 0
3 years ago
Read 2 more answers
Other questions:
  • What are some reasons why individuals might choose to not raise children in their lifetime? these may include personal reasons a
    7·1 answer
  • Exercise 4-8 (part level submission) plevin company ended its fiscal year on july 31, 2017. the company’s adjusted trial balance
    13·2 answers
  • Every decision you make is an economic decision because you're choosing how to use your
    9·1 answer
  • Which of the following is an example of an environmental sustainability practice? a. Making sound financial plans to ensure long
    5·1 answer
  • Each day, Tasty Tortilla Company incurs total costs of $8,000 to process flour into tortillas. The company can then sell the tor
    5·1 answer
  • Which of the following correctly defines the consumer​ market? A. ​Manufacturers, resellers, and consumers B. Consumers and the
    7·1 answer
  • Which of the following job duties would a person in marketing perform?
    7·1 answer
  • Frictional unemployment is inevitable because: Please choose the correct answer from the following choices, and then select the
    5·1 answer
  • What the Business ethics<br> About USA
    9·1 answer
  • If a company must expand capacity to accept a special order, it is likely that there will be:____.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!