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alisha [4.7K]
3 years ago
11

Winston Industries had sales of $843,800 and costs of $609,900. The firm paid $38,200 in interest and $18,000 in dividends. It a

lso increased retained earnings by $62,138 for the year. The depreciation was $76,400. What is the average tax rate?
Business
1 answer:
allochka39001 [22]3 years ago
6 0

Answer:

32.83%

Explanation:

Given:

Total sales = $843,800

cost = $609,900

Amount paid in interest = $38,200

Dividends paid = $18,000

Increased in retained earnings = $62,138

Depreciation = $76,400

Now,

the earning before taxes = Total sales - Cost - Interest paid - Depreciation

or

the earning before taxes = $843,800 - $609,900 - $76,400 - $38,200

or

the earning before taxes = $119,300

And,

the net income = Dividends paid + Increased in retained earnings

the net income = $18,000 + 62,138

or

the net income = $80,138

Thus,

the tax paid = earning before taxes - net income = $119,300 - $80,138

or

the tax paid =  $39,162

Hence,

the tax rate = \frac{\textup{Tax paid}}{\textup{Earnings before tax}}\times100

or

the tax rate = \frac{39,162}{119,300}\times100

or

The tax rate = 32.83%

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Answer:

3 years

Explanation:

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= Initial investment ÷ Net cash flow

where,  

Initial investment is $450,000

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Now put these values to the above formula  

So, the value would equal to

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8 0
3 years ago
_____ refers to the actions of consumers directly involved in obtaining, consuming, and disposing of products, and the decision
Rashid [163]

Answer:

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Explanation:

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3 0
3 years ago
Levelor Company's flexible budget shows $10,710 of overhead at 75% of capacity, which was the operating level achieved during Ma
Salsk061 [2.6K]

Answer:

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Explanation:

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Budgeted Overhead = $10,710

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By putting the value, we get

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= $473 (unfavorable)

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3 years ago
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The Date sheet is a statement for daily business transactions. it includes the list of checks and balances for the office for a specific date of service.

A business transaction is an economic event involving a third party that is documented in the accounting system of a company.

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Learn more about business transactions here

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8 0
2 years ago
Match each scenario with the correct term. IPO, stock, mutual fund and NASDAQ. These are the scenarios:
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a small piece of ownership in a company - stock

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a public stock exchange - NASDAQ

5 0
3 years ago
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