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2 years ago

Sparty Corporation has provided the following information for its most recent year of operation:

Business

1 answer:

Wewaii [24]2 years ago

7 0

Answer:

E. $40,600

Explanation:

Calculation for the amount of net income reported on Sparty's income statement

Revenue $97,000

Less: Operating Expenses $39,000

Profit Before Tax $58,000

(97,000-39,000)

Less Taxes $17,400

Net Income $40,600

($58,000-$17,400)

Therefore the amount of net income reported on Sparty's income statement will be $40,600

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________ costs are costs that limit the occurrence of defects and imperfections. prevention failure process assessment appraisal

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3 years ago

As prepaid expenses expire with the passage of time, the correct adjusting entry will be a:

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Answer:

d. debit to an expense account and a credit to an asset account.

Explanation:

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2 years ago

"Christie and Jergens formed a partnership with capital contributions of $300,000 and $400,000, respectively. Their partnership

Katen [24]

Answer:

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Explanation:

For computing the Christie and Jergens's respective shares, first, we have to compute the remaining income which is to be shared between these two partners. The computation is shown below:

= Net income - salary - interest on total capital

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Now

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= $60,000 + ($300,000 × $10%) + $2,500

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= $92,500

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3 years ago

When Patey Pontoons issued 6% bonds on January 1, 2018, with a face amount of $600,000, the market yield for bonds of similar ri

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Answer:

Follows are the solution to this question:

Explanation:

Some of the missing data is defined in the attached file, please find it.

Bond problem rates

Diagram values are based on the following:

$N = 4\times 2 \\\\$

$= 8 \ Years \\$

$i = 10.00 \% \times \frac{1}{2} \\\\$

$= 5.00 \% \\$

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Bond issuance price

Timetable for bond amortization:

please find the attachment.

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3 years ago