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umka2103 [35]
3 years ago
12

In its first year of operations Best Corp. had income before tax of $540,000. Best made income tax payments totaling $177,000 du

ring the year and has an income tax rate of 30%. What was Best's net income for the year?
Business
1 answer:
hodyreva [135]3 years ago
8 0

Answer:

$378,000

Explanation:

Best Corp. has income before tax of $540,000.

The tax rate is 30%.  the amount of tax will be 30% of $540,000.

= 30/100 x $540,000

=0.3 x 540,000

=$162,000

Tax amount = $162,000.

Net income =  Income before tax - tax amount

=$540,000 - $162,000

=$378,000

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Answer:

A. Ensuring financial statements are accurate and complete

Explanation:

GAAP stipulates how to file income statements, what financial periods to include, and how to report cash flow.

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A​ ________ illustrates consumer views of brands versus those of competing products on important buying dimensions.
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3 years ago
If Sally deposits $1200 per year and the account earns interest at a rate of 4% per year, compounded annually, how much will she
Alex787 [66]

Answer:

$88,382.67

Explanation:

Here is the complete question:

Sally makes deposits into a retirement account every year from the age of 30 until she retires at age 65.If Sally deposits $1200 per year and the account earns interest at a rate of 4% per year, compounded annually, how much will she have in the account when she retires?

To calculate the future value of the annuity, we use this formula: amount x annuity factor

Annuity factor = {[(1+r) ^N ] - 1} / r

Amount = $1200

R = interest rate = 4%

N = number of years = 35

=( 1.04^35 - 1) / 0.04 = 73.652225

73.652225 × $1200 = $88,382.67

I hope my answer helps you

8 0
4 years ago
How much did your Parent 1 (father/mother/stepparent) earn from working (wages, salaries, tips, etc.) in 2020
irina [24]

The year 2020 had a big impact on the economy due to the global pandemic, also having an impact on the annual income of families, so if your father or mother, for example, receive fixed salaries and tips, they probably felt the impacts of the economic recession.

<h3> </h3><h3>How the pandemic affected the economy </h3>

The rates of infection by the virus and mortality generated a scenario of insecurity that led to a public decision to stop consumerism in order to restrict resources and be able to adopt an effective strategy in a period of great uncertainty.

Therefore, with the measures adopted by the government, such as social isolation, many companies stopped producing, closed for a while and were unable to survive without generating profits.

The impact of the pandemic then led to an economic downturn in several countries and caused thousands of people to lose their jobs or businesses.

To change this scenario, it is necessary to implement public policies with strategies to create jobs, reduce bureaucracy, invest and encourage industry.

Find out more information about public policies here:

brainly.com/question/2595599

5 0
3 years ago
Production 54,000 units 60,000 units Machine-hours 985 hours 1,800 hours Fixed overhead costs for September $53,400 $90,000 The
Juli2301 [7.4K]

Answer:

The fixed overhead production-volume variance is $9,000 U

Explanation:

In this question, we are tasked with calculating the fixed overhead production-volume variance.

We start by calculating the fixed overhead applied to production.

mathematically that is equal to : 54,000 * 0.03 * 50 = 81,000

The budgeted fixed overhead = 90,000

Mathematically,

Fixed overhead production-volume variance = Budgeted fixed overhead - fixed overhead applied to production = 90,000 - 81,000 = $9,000 U

6 0
3 years ago
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