Answer:
B. $42,000
Explanation:
Trade receivables refers total amounts that customers of a company are owing the company for goods or services sold to them.
For Michael Co., this can be calculated as follows:
Michael's total trade receivables = 3-month note due from Michael's main customer + Due and unpaid from this month's sales + Due and unpaid from last month's sales
Therefore, we have:
Michael's total trade receivables = $12,000 + $19,000 + 11,000 = $42,000.
Therefore, Michael's total trade receivables is $42,000.
Answer:
False
Explanation:
It should be detailed, clear and straight to the point. It doesn't have to be anything complicated.
A) protecting the country and D) public schools im sure this is the answer
Answer:
Explanation:
Scholarships and grants are monies that are given to the student for education. You DO NOT have to pay them back.
Loans can also be given for education costs but you DO have to pay them back. So, obviously, you want scholarships and grants before loans.
Answer:
The corporation's tax liability is $ 228,820.
Explanation:
To calculate tax liability we first have to find net profit. Detail calculation is given below.
<u><em>Net profit Calculation</em></u>
Sales $ 3,130,000
cost of goods sold and the operating expenses ($ 2,080,000)
Interest expense ( $ 377,000)
Net profit $ 673,000
<u><em>Tax liability Calculation</em></u>
Income fall under Tax bracket of 34% ($75,001 to $10,000,0000 for corporate tax. No additional surtax will be charged as income do not fall under its net.
Tax liabilty = 673,000 * 34% = $ 228,820
