A stock is a written promise to repay borrowed money at a later date; to raise money.

Item 15Item 15If Beck's Bicycles, Inc.'s income statement shows gross profit of $350 million, with operating expenses of $120 mi

Alinara [238K]

Answer:

$161 million

Explanation:

Given that,

Gross profit = $350 million

Operating expenses = $120 million

Tax rate = 30%

First, we need to find out the income before taxes by subtracting operating expenses from the gross profit then we are able to determine net income after taxes.

Income before tax:

= Gross profit - Operating expenses

= $350 million - $120 million

= $230 million

Net income after taxes:

= Income before tax - Taxes

= $230 million - (0.30 × $230 million)

= $230 million - $69 million

= $161 million

8 0

3 years ago

The Almer Group announced its decision to merge with Dover Global Solutions. This is an example of a(n):

Shalnov [3]

An example of firm merger is when Almer Group announced its decision to merge with Dover Global Solutions.

<h3>What is a firm merger?</h3>

A firm merger refers to an formal arrangement whereby two or more existing companies unites into one new company.

Therefore, when Almer Group announced its decision to merge with Dover Global Solutions, it is an example of firm merger.

Read more about firm merger

brainly.com/question/1977165

5 0

2 years ago

In its first year of operations, Crane Company recognized $29,500 in service revenue, $6,100 of which was on account and still o

Montano1993 [528]

Answer: See explanation

Explanation:

1. Calculate the first year's net earnings under the cash basis of accounting, and the first year's net earnings under the accrual basis of accounting.

The first year's net earnings under the cash basis of accounting will be:

Service revenue = $23400

Less: Expenses = $14310

Net income = $9090

The first year's net earnings under the accrual basis of accounting will be:

Service revenue = $29500

Less: Expenses = $15500

Net income = $14000

2. Which basis of accounting (cash or accrual) provides more useful information for decision-makers?

It should be noted that the accrual basis of accounting gives decision makers more useful information. This is due to the fact that the decision makers will probably want to know the revenue and the expenses that were incurred for a particular period and every other necessary details.

8 0

3 years ago

The homeowner's property tax exemption will reduce an assessed valuation of $200,000 to:____.

inessss [21]

As per the rate of the tax, the valuation of $200,000 will become $193,000.

Given Data:

Valuation Price = $200,000

To Find:

After-Tax exemption Valuation= ?

Let us consider the general interest rate of the property. It would be about 3.5% which is 0.035.

According to the normal tax of about 3.5% will become $7000 which will be exempted from the total evaluation therefore it will become $193,000.

Solution:

Tax Value in $ =$200,000 x 3.5% = $7000

here we have the $7000 which is the amount of tax paid by the homeowner.

Putting the value of the tax;

Tax after exemption of tax value = $200,000-$7000

= $193,000

So, the $193,000 is the price after the deduction of tax by the homeowner.

For more questions like Home tax evaluation open the link below:

brainly.com/question/17132518

#SPJ4

3 0

1 year ago

亚裔歧视+见死不救=美国亚裔歧视+见死不救=美国

pishuonlain [190]

----------------------,,,,-----------------------

7 0

3 years ago