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scoray [572]
3 years ago
12

he following data are to be used for Questions 4 and 5. The parentheses indicate amounts that should be subtracted in the comput

ation of net income. Cost of goods sold (6,000) Income tax expense (600) Interest expense (250) Operating, selling, general and administrative expenses (2,300) Sales 10,000 What is the company’s income tax RATE?
Business
1 answer:
ivann1987 [24]3 years ago
5 0

Answer:

t= 0.4138

Explanation:

First, we need to accommodate the information:

Sales= 10,000

COGS= 6000 (-)

Gross profit= 4000

Operating, selling, general and administrative expenses= 2300 (-)

Net operating income= 1700

Interest= 250 (-)

Earnings before taxes= 1450

TAX= 600 (-)

Net income= 850

t= ?

t= 600/1450= 0.4138

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Why is cooperative skill important in good trade? give the reasons..​
klio [65]

Answer:

Team cooperation encourages employees to work together for the benefit of the organization. It reduces the desire of employees to complete against each other,which often never good for the business,and instead focus on working together to achieve a common goal.

3 0
3 years ago
Why is it important to do research prior to making a purchase ?
VashaNatasha [74]

Answer/ Explanation:

<em><u>Before/Prior to making a purchase, it's important to ensure optimal decisions so it improve profitability when buying it. information on the needed characteristics of whatever you are getting. So, you are getting everything you need appropriately. </u></em>

7 0
3 years ago
Sweet manufacturing is planning to sell 400,000 hammers for $6 per unit. the contribution margin ratio is 20%. if sweet will bre
mestny [16]
At the break-even point, the total sales and the total cost is said to be equal. Therefore, there is no profit or loss. We set up the equation as follows:

Profit/Loss = (Unit Contribution Margin) (Units) - (Fixed Costs) = 0

Unit contribution margin is (0.20)(1.50) = 0.30

Substituting the known values gives;

0 = (0.30)(400,000) - FC

FC = (0.30)(400,000)

FC = $120,000

<span>Therefore, the total fixed costs would </span>$120,000.<span>
</span>
5 0
3 years ago
Everly Corporation acquires a coal mine at a cost of $400,000. Intangible development costs total $100,000. After extraction has
8090 [49]

Answer:

Explanation:

The journal entry is shown below:

Inventory A/c Dr $73,500

         To Accumulated depletion A/c $73,500

(Being the depletion is recorded)

The computation is shown below

First we have to compute the depletion per ton which is shown below:

= (Acquired cost of coal mine + Intangible development costs + fair value of the obligation - Sale value) ÷ (Number of estimated tons of coal extracted)

= ($400,000 + $100,000 + $80,000 - $160,000) ÷ (4,000 tons)

= $105

Now if 700 are extracted in first year, so the depletion would be

= 700 × $105

= $73,500

8 0
4 years ago
Cumulative Preference stockholders receive $.90 per share. There are 40,000 shares. For the last four years no dividends have be
Helen [10]

Answer:

$10,000

Explanation:

Data provided in the question:

Dividend per share = $0.90

Number of shares = 40,000

Number of years for which dividend is not paid = 4 years

Dividend paid this year = $170,000

Now,

Dividend still in arrears

= ( Number of years × Shares × Dividend per share ) - Dividend paid this year

= [ ( 4 + 1 ) × 40,000 × $0.9 ] - [ $170,000 ]

= $180,000 - $170,000

= $10,000

4 0
3 years ago
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