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raketka [301]
3 years ago
9

For the past year, Momsen, Ltd., had sales of $45,797, interest expense of $3,620, cost of goods sold of $16,134, selling and ad

ministrative expense of $11,481, and depreciation of $5,980. If the tax rate was 35 percent, what was the company's net income?

Business
2 answers:
OleMash [197]3 years ago
6 0

Answer:

$5,578.3

Explanation:

The income statement shows the net income of an entity which is the net difference between the sales and expenses including taxes incurred during the period.

Given sales of $45,797, interest expense of $3,620, cost of goods sold of $16,134, selling and administrative expense of $11,481, and depreciation of $5,980. If the tax rate was 35 percent,

Profit before tax = $45,797 - $16,134 - $3,620 - $11,481 - $5,980

= $8,582

Tax expense = 35% of $8,582

= $3,003.70

Company's net income  = $8,582 - $3,003.70

= $5,578.3

guapka [62]3 years ago
5 0

Answer:

Net income is $5,578.30

Explanation:

Please refer to the attached file

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As the result of an increase in capital the demand for labor would_______, the supply of labor would ________, and the quantity
Mademuasel [1]

Answer:

The correct answer here is option b.

Explanation:

When here is an increase in capital, the firm would like to produce more. So, the demand for labor would increase. Though the supply of labor would remain the same as it is not affected by the change in capital.

With the shift in the demand curve, the quantity of labor hired would increase as well. With no change in labor supply, the wage rate will increase as well.

8 0
3 years ago
If you can invest $1,000 today and it will grow to be worth $1,350 over the next 6 years, what is the compound annual return you
Roman55 [17]

Answer:

5.13%

Explanation:

Given:

Worth of investment today (PV) = $1,000

Investment worth after 6 years (FV) = $1,350

Time period of investment (nper) = 6 Years

It is required to compute annual return (RATE). This can be computed using spreadsheet function =RATE(nper,-PV,FV).

Substituting the values, we get =RATE(6,-1000,1350)

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Present value is negative as it is a cash outflow.

Therefore, annual return is computes as 5.13%.

3 0
3 years ago
(Will mark BRAINLIEST) Can someone explain what exactly this question is asking?:
Mekhanik [1.2K]

The question asks to describes any two methods of searching a job when you actually need for a new job. Also to search jobs you can prefer,

  • Use Online Job Portal,
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<u>Explanation:</u>

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They are a decent method to secure current position declarations that meet your criteria. Secure position advertisements on the web, in work banks, on organization sites, at work fairs, and the sky is the limit from there. At that point follow the tips to react to those openings. Address bosses to extend your system and find out about conceivable employment opportunities.

7 0
3 years ago
Discuss the intellectual debates by contemporary scholars surrounding issues of development​
r-ruslan [8.4K]

Answer:

Intellectual scholar discuss the issues of development​ as something arising out of differences between the nature and nurturing given to an individual. They also talk about relative importance of early experiences versus experiences occurring at a  later stage  in life.

They also talk about sequential development stages with age that cause emergence of certain skills in all individuals. They also talk about various theories such as cognitive theory, developmental theory, Psychoanalytic Theories, Abnormal Behavior vs. Differences etc.

Explanation:

Intellectual scholar discuss the issues of development​ as something arising out of differences between the nature and nurturing given to an individual. They also talk about relative importance of early experiences versus experiences occurring at a  later stage  in life.

They also talk about sequential development stages with age that cause emergence of certain skills in all individuals. They also talk about various theories such as cognitive theory, developmental theory, Psychoanalytic Theories, Abnormal Behavior vs. Differences etc.

4 0
3 years ago
Earned value is: Group of answer choices The real budgeted value of the work that has actually been performed to date. The total
murzikaleks [220]

Answer:

The real budgeted value of the work that has actually been performed to date.

Explanation:

Earned value refers to the three primary project success metrics: cost, schedule, and performance. It measures the actual work performed against its budget and schedule. Did the actual work performed corresponds to its work budget and was it performed on time following the schedule? Earned value represents how much of the project's budget has been performed to date, both in monetary and productive terms.

4 0
3 years ago
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