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2 years ago

Purple Rose Corporation reported pretax book income of $500,000.

Business

1 answer:

Vikentia [17]2 years ago

5 0

Answer: $68,000

Explanation:

Let us assume that we are given a tax rate of 34% to use in computing the question. Therefore, Purple Rose's current income tax expense or benefit will be:

Pre-tax book income = $500,000

Less: Tax depreciation = $300,000

Net Income = $500,000 - $300,000 = $200,000

Current income tax expenses at 34% will then be:

= 34% × Net income

= 34/100 × $200,000

= $68,000

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Steve’s Lumber Company features a large selection of materials for flooring, decks, moldings, windows, siding and roofing. It is

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Answer:

1. The major issue in the process is the lack of communication between different parties. The process being manually driven, might affect the customer satisfaction and lead to lost sales. The changes which need to be made is to make available the price information of different items at once, when the customer comes in to place an order. This can be made possible by asking the suppliers to send the updated sheet every morning before the day's business begins. It will be better if the entire uncatalogued as well as the price sheet is in electronic form, which can be updated immediately, as soon as the information is received from supplier in the morning. One better alternative is to connect the suppliers through an ERP so that their price might reflect at the company's end as soon as it is updated, It will reduce much hassle and mistakes that might creep in due to manual process.

2. a. The number of customers leaving per day / week to competitors due to inefficiency.

b. Total average delay in customer's order.

c. Customer satisfaction rating of the process as this will give the overall picture of customer's opinion about the company.

3. The information system might enable the suppliers to update their information each day which can then be used by the company reps to find out the right price of an item and enable him /her to provide the estimate immediately, leading to greater customer satisfaction, reducing the lost sales and eliminating the chances of a wrong quote being given.

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3 years ago

At the beginning of 2021, Artichoke Academy reported a balance in common stock of $164,000 and a balance in retained earnings of

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Answer:

Artichoke Academy

Statement of Stockholders’ Equity

For the Year Ended December 31, 2021

Beginning balance Common Stock $164,000

Beginning balance retained earnings $64,000

Subtotal $228,000

Common Stock issued $54,000

Earned net income $44,000

Distributed dividends ($11,400)

Ending balance Common Stock $218,000

Ending balance retained earnings $96.600

Total Stockholders' Equity December 31, 2021: $314,600

Artichoke Academy

Balance Sheet

For the Year Ended December 31, 2021

Assets:

Cash $54,000

Prepaid rent $31,000

Supplies $12,300

Land $270,000

Total assets: $367,300

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Accounts payable $13,600

Utilities payable $5,200

Salaries payable $4,900

Notes payable $29,000

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Retained earnings $96,600

Total liabilities and stockholders' equity: $367,300

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2 years ago

What are levels of production?

Vinil7 [7]

Answer:

first one

Explanation:

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2 years ago

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The Mason Corporation budgeted overhead at $240,000 for the period for Department A based on a budgeted volume of 60,000 direct

IgorC [24]

Answer:

$8000

Explanation:

Given: Budgeted Overhead $240,000

Budgeted Labor Hrs 60,000

Actual Labor Hrs for Job B25 200

Actual labor cost for B25 $2,200

Direct Material cost for B25 $5000

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3 years ago

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