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Tanya [424]
3 years ago
15

Determine the net income of a company for which the following information is available for the month of September. Service reven

ue $ 300,000 Rent expense 48,000 Utilities expense 3,200 Salaries expense 81,000
Business
1 answer:
Luba_88 [7]3 years ago
6 0

Answer:

Net income                        167,800

Explanation:

The net income will be determinate by the difference of the revenues and revenues:

Service revenue                300,000

Salaries expense 81,000

Rent expense       48,000

Utilities expense     3,200

Total expenses                 <u>  132,200  </u>

Net income                        167,800

If provided with a tax rate, that value would be the earnigns before taxes (EBT)

We should also calculate the income tax and then, subtract the income tax to get the net income

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Ben and Jerry were shareholders of Water Ice Inc., an S corp. On Jan. 1, 1998, Ben owned 40 shares and Jerry owned 60 shares. Be
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Answer: $15,060

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From the question, we are informed that Ben and Jerry were shareholders of Water Ice Inc., an S corp. On Jan. 1, 1998, Ben owned 40 shares and Jerry owned 60 shares.

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Suppose you owned a portfolio consisting of $250,000 of long-term U.S. government bonds. Would your portfolio be riskless? Expla
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An investment when it would be risk free in that case both the principal and the interest amount are to be paid within the prescribed time. Also when the U.S government bonds i.e. long term would be issued by the government have a lesser interest rate as compared with the other riskier securities available at the market place this is because as the government would default next to zero in case of the short term it would make the default when there are extreme situations arise.

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