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Fittoniya [83]
2 years ago
15

Byron Books Inc. recently reported $6 million of net income. Its EBIT was $12.6 million, and its tax rate was 40%. What was its

interest expense? [Hint: Write out the headings for an income statement, and then fill in the known values. Then divide $6 million of net income by (1 - T) = 0.6 to find the pretax income. The difference between EBIT and taxable income must be interest expense. Use this same procedure to complete similar problems.] Write out your answer completely. For example, 25 million should be entered as 25,000,000. Round your answer to the nearest dollar, if necessary. Do not round intermediate calculations.
Business
1 answer:
Dimas [21]2 years ago
6 0

Answer:

he35

Explanation:

h

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2 years ago
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Paci Restaurants accepts credit and debit cards as forms of payment. Assume Paci had $14, 000 of credit and debit card sales on
vivado [14]

Answer:

1) assuming that the credit card company's payments are immediate (1 business day)

April 30,2015, net credit and debit card sales

Dr Cash 13,580

    Cr Sales revenue 13,580

2) assuming that the credit card company's payments are immediate (1 business day)

April 30,2015, gross credit and debit card sales

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    Cr Sales revenue 14,000

8 0
3 years ago
1. Do you think it's really important to start saving for retirement as early as possible? Why or
Colt1911 [192]
Yes, I think it is important to save for retirement as early as 18 years old. I think this so that if anything goes wrong you can have kind of like a safety net.
6 0
3 years ago
Accounting systems that use standards for product costs are called budgeted cost systems. True False
Yuri [45]

Answer:

False.

Explanation:

Accounting systems that use standards for product costs are standard cost systems.

In Financial accounting, various business firms or companies use the standard cost systems to determine the variances or differences between the actual (real) cost of goods produced and the estimated cost for the goods that were produced by the company.

Hence, standard cost systems are used by business firms or companies as a strategic tool or technique for the management and control of costs, budget planning, and analyzing cost management performance at a specific period of time.

7 0
3 years ago
Every 6 months, Leo Perez takes an inventory of the consumer debts he has outstanding. His latest tally shows that he still owes
Svetradugi [14.3K]

Answer:

The answer is "87%".

Explanation:

Please find the attached file.

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