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zubka84 [21]
3 years ago
12

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

Business
1 answer:
Wewaii [24]3 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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The adjusted trial balance of Blossom Company at December 31, 2019, includes the following accounts: Common Stock $17,200, Divid
kap26 [50]

Answer:

Explanation:

Before preparing the retained earning statement, first we have to compute the closing balance of retained earning which is shown below:

The ending balance of retained earning = Beginning balance of retained earnings + net income - dividend paid

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The statement of retained earnings is presented in the spreadsheet. Kindly find the attachment below:

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3 years ago
The two cofounders of Impact Technology, a data-storage firm in Research Triangle Park, North Carolina, were feuding with each o
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Answer:

Organizational Behavior Specialist

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7 0
3 years ago
Logan and Johnathan exchange land, and the exchange qualifies as like kind under § 1031. Because Logan's land (adjusted basis of
ZanzabumX [31]

Answer:

a. Logan's recognized gain is $38,600

b. Logan's recognized gain is $23,160

Explanation:

a. If the worth of the land for Jonathan is $183,350, then the gain recognized by Logan would be;

the lower of the realized gain between the amount realized of $231,600 - adjusted basis of $193,000 = $38,600

or the fair market worth of the received boot i.e $48,250.

Therefore, Logan's recognized gain is $38,600

b. Suppose Jonathan's land is worth, $208,440, then we can calculate Logan's recognized gain to be ;

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6 0
3 years ago
A project will produce an operating cash flow of $136,000 a year for three years. The initial cash outlay for equipment will be
pashok25 [27]

Answer:

     NPV  =$ 60,311.80

Explanation:

<em>The net present value (NPV) of a project is the present value of cash inflow  less the present value of cash outflow of the project.</em>

NPV = PV of cash inflow - PV of cash outflow

We can set out the cash flows of the project using the table below:

                                                  0                  1                   2                 3          

Operating cash flow                                136,000     136,000    136,000

Initial cost                              (274,000)

Working capital                     (61,000 )                                          61,000

Salvage value                        <u>               </u>    <u>             </u>      <u>           </u>      1<u>5000  </u>              

Net cashflow                     <u> (335,000)  136,000      136,000      212,000.</u>

PV  inflow= (136000)× (1.1)^(-1) + (136,000× (1.1)^(-2) + (112,000)× (1.1)^(-3)

       =  395,311.80

NPV =395,311.80 -335,000

       =$ 60,311.80

3 0
3 years ago
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