Income Taxes Using appropriate headings and subtotals prepare a multiple-step consolidated income statement.
An Income tax is a tax imposed on people or entities in admire of the income or profits earned by way of them. income tax generally is computed because the manufactured from a tax price instances the taxable earnings. Taxation fees can also vary by using the kind or characteristics of the taxpayer and the type of profits.
Consolidated Income statement
Particulars Amount
Net Sales $ 5,864. 6
Less: Expenses
Cost of Products sold = $ 3,6594.4
Gross Profit = $2,205.2
Less: Operating expenses
Selling general, and administrative expenses $ 1,515.3
Other expenses $ 432.7
Operating Income = $ 275
Less: Non-operating expenses
Interest and other non-operating expenses $ 104.7
Income before Taxes = 152.5
Less: Income Tax expense $ 17.9
Income after Taxes = $134.6
Less: Loss on sale of Discontinued Operations
(net of income taxes) $9.4
Net Income $ 125.2
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Answer:C. Real interest rates expected by British investors are 2 percentage points higher than the real interest rate expected by US investor.
Explanation:
The real interest rate is the market interest rate less the inflation rate.
The inflation rate always reduce the purchasing power of money which is the real measure of the purchasing power of money and not the money face value.
Answer:
accrued interest owed at the end of the year = $400 x interest rate x 6/12 months
the interest rate was not given, but we can assume that it was 5% just as an example:
total accrued interest expense = $400 x 5% x 6/12 = $10
the journal entry would be
December 31, 2021
Dr Interest expense 10 million
Cr Interest payable 10 million
Answer: Making initial development private saves the government from funding all of the research.
Explanation:
A grant refers to an amount of money that is financial assistance thats given by the government or an organization to an individual or firm for a specific purpose. A grant is different from a loan as it isn't meant to be paid back.
Government award grants for the development of technologies, community projects, home insulation etc.
With regards to the question, a government – sponsored grants for the private development of new technologies may result in a lower national debt when the government makes the initial development private thereby saving the government from funding all of the research.
The statement public education in texas is overseen by both elected and appointed officials is true.
Who governs the SBOE?
The State Board of Education (SBOE) establishes rules and standards for public schools in Texas. The SBOE's key tasks are as follows:
- Establishing curricular standards
- Examining and implementing educational materials
- Creating graduation requirements
- In charge of the Texas Permanent School Fund
- Appointing military reserve and special school district board members
- Final evaluation of the State Board of Educator Certification's proposed regulations
- Reviewing the commissioner's proposed charter school award, with the power to veto a recommended application
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