1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Rasek [7]
3 years ago
6

Paper Clip Company sells office supplies. The following information summarizes the​ company's operating activities for the​ year

: Utilities for the store ​$ 9 comma 600 Sales commissions 10 comma 100 Sales revenue 164 comma 800 Purchases of merchandise 89 comma 900 January 1 inventory 27 comma 000 Rent for store 13 comma 800 December 31 inventory 23 comma 500 What is operating​ income?
Business
1 answer:
marin [14]3 years ago
3 0

Answer:

$41,400

Explanation:

Calculation for Paper Clip Company Operating income

OPERATING NET INCOME for Paper Clip Company

Sales revenue 164,800

Less: Purchases of merchandise (89,900)

Utilities for the store (9,600)

Sales commission (10,100)

Rent for store (13,800)

Operating net income $41,400

Therefore the Operating net income will be $41,400

You might be interested in
Elvira is using the rational model of decision making. the alternative that she chose and implemented does not appear to be work
UNO [17]
<span>When a manager makes a decision based on the strong beliefs she already has, ... The rational model of decision making assumes that managers will choose the ... If a chosen alternative is implemented and it does not appear to be working, ... In time-critical situations, satisficing may be a good approach to decision making.</span>
7 0
3 years ago
In each of the following independent cases, indicate the amount (1) deductible for AGI, (2) deductible from AGI, and (3) neither
Marta_Voda [28]

Answer:

a. Ted paid $30 rent on a safety deposit box at the bank. In this box he kept the few shares of stock that he owned.

  • Not deductible

Is not a business expense nor it can be itemized.

b. Tyler paid $154 for minor repairs to the fence at a rental house he owned.

  • Deductible for AGI

Repairs and maintenance expenses of rental property decrease your AGI.  

c. Timmy paid $775 for health insurance premiums this year. Timmy is employed full-time and his employer paid the remaining premiums as a qualified fringe benefit.

  • Not deductible

If Timmy's medical expenses were more than 10% of your AGI, then you can deduct the difference. But I doubt Timmy earns less than $7,750.

d. Tess paid $1,880 of state income taxes on her consulting income.

  • Deductible from AGI

If you itemize deductions, you can deduct up to $10,000 in state or local taxes.

4 0
3 years ago
Suppose that because of the popularity of Jack Brown's, Aaron decides to open a third restaurant and issues another round of $10
Anettt [7]

The price of the new bonds given the face value and interest rate is $8,928.57.

<h3>What is the price of the bonds?</h3>

Bonds are debt instruments issued by a firm with the purpose of raising capital to carry out projects. The price of the bonds can be determined by discounting the face value of the bonds by the interest rate.

The price of the bonds = face value of the bonds / ( 1 + interest rate)

$10,000 / (1.12) = $8,928.57

To learn more about bonds, please check; brainly.com/question/8917277

6 0
2 years ago
One year ago, you purchased 100 shares of a stock. This morning you sold those shares and realized a total return of 8.2 percent
earnstyle [38]

Answer: e. sum of the dividend yield and the capital gains yields is 8.2 percent

Explanation:

The return of 8.2% that was realized is the sum of the dividend yield and the capital gains yield.

The dividend yield refers to the income earned from dividends issued by the company whose stock you owned divided by the stock price.

The capital yield is the change in price since you bought the stock for instance, buying the stock at a price of $15 and it is now worth $20.

These two yields will combine to give you the return of 8.2% that you realized.

8 0
3 years ago
A company has decided to discontinue a component of its business and sells the component by the end of the year. The amount that
dimulka [17.4K]

Answer:

C. income from operations for the year and only a loss on the disposal of the component's assets.

Explanation:

Income from discontinued operations is a line item of a company below Income from Continuing Operations and before Net Income on an income statement. It represents the after-tax gain or loss on the sale of a component of the business. It also shows the after-tax effect of the operations of the discontinued component for the period.

The amount that the company would report as income from discontinued operations is (ignore tax effects) <u>income from operations for the year and only a loss on the disposal of the component's assets.</u>

4 0
3 years ago
Other questions:
  • ou are tasked with estimating the costs of a project. Select a project you are familiar with and give a concise summary of that
    12·1 answer
  • What carries out public policy by performing tasks with the help of staff agencies?
    5·2 answers
  • A chemist is studying the effect of acid rain on the steel in bridges. why would she most likely use rate laws in this study?
    5·1 answer
  • When the price of a slice of pizza is $1.75, quantity demanded is 400. when the price per slice falls to $1.50, quantity demande
    9·1 answer
  • Which is true of output-choice models of oligopoly behavior?
    15·1 answer
  • What Cookery method is used for a matured poultry? <br>​
    8·1 answer
  • Aria’s, Inc. has 1,000 shares of 5%, $100 par value cumulative preferred stock and 10,000 shares of $1 par value common stock ou
    10·1 answer
  • You must evaluate a proposal to buy a new milling machine. The base price is $120,000, and shipping and installation costs would
    14·1 answer
  • Solve the case: A man got killed in his office. The suspects are Edison, Maxis, Jason, Janna, and Sofia. A calendar near the man
    15·2 answers
  • se the information below for Harding Company to answer the question that follow. Harding Company Accounts payable $31,226 Accoun
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!