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LUCKY_DIMON [66]
3 years ago
12

When paraphrasing or summarizing, it is not necessary to give credit to the original source if you use your own words.

Business
2 answers:
cestrela7 [59]3 years ago
7 0
I think this is true
kykrilka [37]3 years ago
5 0

Answer: the answer is false not true.

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During the year, the Senbet Discount Tire Company had gross sales of $1.24 million. The company’s cost of goods sold and selling
Afina-wow [57]

Answer:

Net income= $139,755

Operating cash flow= $346,835

Explanation:

Senbet discount tire company has a gross sale of $1.24 million

The cost of goods sold is $593,000

The selling expense is $246,000

The company has a note payable of $850,000 with an interest rate of 5%

Depreciation is $123,000

Tax rate is 23%

(a) Inorder to calculate the tax expense the first step is to find the interest

Interest= debt×interest rate

= $850,000×5/100

= 850,000×0.05

= 42,500

Therefore, the net income can be calculated as follows

= (sales-cost of goods sold-selling expense-depreciation-interest)(1-tax rate)

=( $593,000-$246,000-$123,000-42,500)(1-0.23)

= 181,500×0.77

= $139,755

(b) Inorder to calculate the operating cash flow the first step is to find the tax expense

Tax expense= (gross sales-cost of goods sold-selling expense-depreciation-interest)× tax

($1,240,000-$593,000-$246,000-$123,000-42,500)×0.23

= $235,500×0.23

= $54,165

Therefore, the operating cash flow can be calculated as follows

= gross sales-cost of goods sold-selling expense-depreciation-tax expense+depreciation

=$1,240,000-$593,000-$246,000-$123,000-$54,165+$123,000

= $346,835

Hence the net income is $139,755 and the operating cash flow is $346,835

4 0
3 years ago
Some organizations have the project sponsor complete a ____________ form to close a project or phase.
Harrizon [31]

Some organizations have the project sponsor complete project completion/ Client acceptance form to close a project or phase.

The Client Acceptance form means add up of the delivered solution, it confirms what deliverables has been yielded to the client and that the client has accepted those deliverables.

A project acceptance form is a document that, when implemented, means formal, written approval of the complete project. It accepts that all project requirements have been achieved and that all deliverables are completed.

An Acceptance Form assists to gain approval from the customer that the production done is according to the needs of the customer. An Acceptance Form includes all of the Acceptance Criteria for attaining the approval of the customer.

To learn more about project completion/ Client acceptance form here

brainly.com/question/15090038

#SPJ4

8 0
1 year ago
Last year Dania Corporation's sales were $525 million. If sales grow at 7.5% per year, how large (in millions) will they be 8 ye
Kipish [7]

Answer:

$936.33 Million

Explanation:

Current sales = $525 millions

Growth rate = 7.5%

Number of years = 10 years

Sales after 8 year = Current sales x (1+g)^{n}

Sales after 8 year = $ 525 million x (1+7.5/100)^{8}

Sales after 8 year = $ 525 million x (1+0.075)^{8}

Sales after 8 year = $ 525 million x (1.075)^{8}

Sales after 8 year = $ 525 million x 1.783477826

Sales after 8 year = $ 936.33 million

6 0
3 years ago
The following events occurred for Johnson Company:
il63 [147K]

Answer:

a. Received investment of cash by organizers and distributed to them 1,180 shares of $1 par value common stock with a market price of $15 per share.

Account                                 Debit      Credit

Cash                                      $17,700

Common Stock                                     $1,180

Additional Paid-In Capital                    $16,520

Assets increase, and stockholder's equity increase by the same amount: $17,700.

b. Purchased $8,200 of equipment, paying $1,500 in cash and owing the rest on accounts payable to the manufacturer.

Account                                 Debit      Credit

Equipment                             $8,200

Cash                                                       $1,500

Accounts Payable                                  $6,700

Assets increase by a net $6,700 (Equipment - Cash), and Accounts Payable by $6,700 as well.

c. Borrowed $14,000 cash from a bank. Loaned $800 to an employee who signed a note.

Account                                 Debit      Credit

Cash                                     $14,000

Notes Payable                                      $14,000

Notes Receivable                  $800

Cash                                                      $800

Assets increase by a net $14,000 (Cash + Notes Receivable - Cash), and liabilities increase by $14,000

d. Purchased $20,343 of land; paid $9,000 in cash and signed a note for the balance.

Account                                 Debit      Credit

Land                                     $20,343

Cash                                                     $9,000

Notes Payable                                     $11,343

Assets increase by a net $11,343 (Land - Cash), and liabilities increase by the same amount.

                                       

4 0
3 years ago
According to the textbook, Nucor in steel, JetBlue in airlines, and Cirque du Soleil in circuses are examples of entrepreneurial
leva [86]

Options available are:

A) fragmented

B) emerging

C) declining

D) global

E) mature

Answer:

C) Declining

Explanation:

The reason is that these companies have greater knowledge of the industry than the other companies that are entering the market. Furthermore, the industry is also in decline phase which means that the market entrants are afraid of entering the market and that the old companies like JetBlue, Nucor and Cirque du Soleil have better brand recognition which helps them make sales.

8 0
3 years ago
Read 2 more answers
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