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charle [14.2K]
3 years ago
13

In fiscal 2016, Snap-On Inc. reported a statutory tax rate of 35%, an effective tax rate of 30.5%. Income before income tax for

2016 was $801.4 million. What did Snap-On report as tax expense (on its income statement) in 2016? A. $166.7 million B. $170.0 million C. $244.4 million D. $184.7 million E. None of the above
Business
1 answer:
posledela3 years ago
4 0

Answer:

Snap on the report as the tax expenses will be $244.427

Explanation:

We have given income before tax in 2016 = $801.4 million

Effective rate tax = 30.5 % = 0.305

We have to find the snap on report as tax expense

Tax expenses is given by

Tax expense =income\ before\ tax\times effective\ tax\ rate=801.4\times 0.305=$244.427

So snap on the report as the tax expenses will be $244.427

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No you can not afford it

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6 0
3 years ago
A subsistence economy is one that ________. A subsistence economy is one that ________. meets its needs without working for wage
BigorU [14]

Answer:

The options in the question are not well aligned,find below question with properly aligned options:

A subsistence economy is one that ________.

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c. purchases resources for immediate use

d. meets is needs while causing ecosystem destruction

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Explanation:

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5 0
3 years ago
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r-ruslan [8.4K]
The answer to this question is Human resource manager
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ackson Co. needs to replenish its petty cash fund. Currently, it contains $11 in cash and receipts for supplies of $40 and deliv
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Answer:

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While recording this journal entry we debited the delivery expenses, supplies expenses and credited the cash account so that the proper posting could be done

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Answer

The answer and procedures of the exercise are attached in the attached archives.

Explanation  

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5 0
3 years ago
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