Answer:
Explanation:
Assume: The Federal Alternative Minimum Tax rate of 20%
G.R EDWIN INC $
Sales 6, 020, 000.00
Less:
Cost of goods sold 3, 060,000.00
Gross profit 2,960,000.00
Less:
Operating Expenses 2,650,000.00
Profit 310,000.00
Less: Int Expense 27,000.00
Net Profit 283,000.00
Tax liability assuming tax rate of 20%
= 283,000 * 20%
=$56,600
Answer:
True
Explanation:
Opportunity cost refers to the benefits foregone of a non chosen alternative when an alternative is chosen.
Going to college represents opportunity cost in the form of money incurred specifically for pursuing studies and also the lost opportunity in the form of income foregone which could've been earned had the student worked somewhere.
Thus, dropping out of college would involve the opportunity cost in the form of money spent exclusively for study as well as the money which could've been earned had the individual preferred working.
Hence, the given statement is true.
Answer:
Limitations :
1. ignores cash flows after payback period
2. ignores the worth of those cashflows over time
Explanation:
Payback Period is the length of time required for the total cash inflows to equal the initial capital investment.
In principle, the sooner the capital expenditure is recouped (paid back) the better and the more attractive the project is. Whilst the longer the period the less attractive the project is.
However, payback method ignores the fact that some projects in their initial phases start with little cash inflows which at a later stage increase significantly. Thus this method ignores cash flows after payback period. Also, this method ignores the worth of those cashflows over time ( ignores time value of money) for a dollar today is worth more than a dollar tomorrow.
Answer:
The amount of the impairment = $3,150.
Explanation:
a) Data and Calculations:
Net cash flows = $63,000
Fair value of copyright = $59,850
Accumulated amortization = $15,435
Impairment gain = $3,150 ($63,000 - $59,850)
b) There is an impairment gain of $3,150 since the net cash flows is higher than the fair value of the copyright. Copyright is an intangible asset and impairment assessment must be conducted yearly.
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