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Nataly [62]
3 years ago
6

he following items appeared on the Year 6 year-end trial balance for the Brown Coffee Company:DebitsCreditsRevenues$600,000Opera

ting expenses420,000Gain from disposal of component200,000Restructuring costs100,000Interest expense20,000Unrealized gain on AFS Debt Investment10,000Gain on sale of operating assets30,000Income tax expense has not yet been accrued. The company's income tax rate is 20% on all items. What amount should be reported in the company's year Year 6 income statement as income from continuing operations
Business
1 answer:
Svetllana [295]3 years ago
7 0

Answer:

net income $72,000

Explanation:

The computation of the amount that should be reported is shown below:

Revenue $600,000  

less:      

operating expense -$420,000  

restructing costs -$100,000  

interest expense -$20,000  

Add: gain on sale of investments $30,000

EBIT $90,000  

less income tax at 20%  - $18,000

net income $72,000

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Bentels Co. desires a December 31 ending inventory of 2,840 units. Budgeted sales for December are 4,000 units. The November 30
LekaFEV [45]

Answer:

Budgeted purchases      Units

Budgeted sales                4,000

Ending inventory               2,840

Beginning inventory         <u> (1,800)</u>      

Budgeted purchases        <u>  5,040</u>      

The correct answer is A                                                                                                                  

Explanation:

Budgeted purchases equal budgeted sales plus ending inventory minus beginning inventory.                            

6 0
3 years ago
Marsha Mellow’s weekly gross earnings for the week ended May 23 were $1,250, and her federal income tax withholding was $201.65.
Nataliya [291]

Answer:

$954.60

Explanation:

Gross Pay: Gross income for an individual, also known as gross pay, is the individual's total pay from his employer before taxes or other deductions.

Net Pay: Gross income for an individual, also known as gross pay, is the individual's total pay from his employer after taxes or other deductions.

Particulars       Amount   Amount

Gross Pay                          $1,250

Withholding deduction:

Income tax       <em>($201.65)</em>

Social Security  <em>(1,250*0.06 = $75)</em>

Medicare tax <em>(1,250*0.015 = $18.75)</em>

Net pay                                           $954.60  

8 0
3 years ago
A taxpayer takes six clients to an NBA playoff game. If all of the tickets (list price of $120 each) are purchased on the Intern
Amanda [17]

Answer: B. False

Explanation: the statement is false, because If all the tickets are purchased on the internet for $1800($300 each) instead of the list price of $120 each for one ticket, it makes no economic sense to buy on the internet.

Only if buying the tickets on the internet is the same rate or cheaper will it make economic sense.

5 0
3 years ago
Camille is having second thoughts about obtaining a college degree. She will have to take out tens of thousands of dollars in lo
Darina [25.2K]

Answer:

More opportunities will be available, financially and otherwise, with a college degree than without one.

Explanation:

From the passage, it stated that:

1. There is a faulty economy. This implies that economy is having a problem or the economy is in recession with little or no opportunities in terms of jobs and payments.

2. Hundreds of other college graduates earning the same degree. This implies that there many people with the same degree qualification competing for the limited job available in the faulty economy.

Based on the two statements above, it false to say that more opportunities will be available, financially and otherwise, with a college degree than without one.

5 0
2 years ago
Read 2 more answers
Neritic zone is found in which parts of the world
Ulleksa [173]
Hello there.

Question: <span>Neritic zone is found in which parts of the world

Answer: It is found in the ocean.

Hope This Helps You!
Good Luck Studying ^-^


</span>
7 0
3 years ago
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