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torisob [31]
4 years ago
12

The following information has been provided by Hale Company: • Advertising expense $8,800; • Interest expense $3,800; • Rent exp

ense for store $18,000; • Loss on sale of property and equipment $6,600; • Cost of goods sold $22,200; • Depreciation expense $8,000; • Prepaid insurance $1,900. How much were Hale’s total expenses in calculating operating income?
Business
1 answer:
klemol [59]4 years ago
6 0

Answer:

Hale’s total expenses in calculating operating income is $57000

Explanation:

Operating income represents profit realized in carrying out Hale Company primary activities

Only expenses incurred in are considered in calculation of Hale`s Operating Income

<em>Cost of Sales</em>

Cost of goods sold                        22200              

<em>Administration</em>

Rent expenses for store                18000

Depreciation                                    8000

<em>Selling and distribution expenses</em>

Advertising                                       8800

Total Expenses                               57000

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Option E

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3 years ago
Saginaw Steel Corporation has a precredit U.S. tax of $105,000 on $500,000 of taxable income in 2018. Saginaw has $200,000 of fo
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3 years ago
The supplies account had a beginning balance of $1,506. Supplies purchased during the period totaled $4,478. At the end of the p
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Answer:

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Credit Supplies account $5,550

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The movement in the balance of supplies at the start and end of a period is as a result of usage and purchases. While usage reduces the balance in supplies, purchases increases the balance. This may be expressed mathematically as

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3 years ago
An important economic problem associated with monopolies is that, at the profit-maximizing equilibrium rate of output, resources
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Answer:

D

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