1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
A company that makes fasteners and sells them to many different
Andreyy89
There are four main types of distribution channels;

1) Manufacturer > Wholesaler > Retailer > Consumer

2) Manufacturer > Wholesaler> Consumer

3) Manufacturer > Retailer > Consumer

4) Manufacturer > Consumer


Therefore the most likely answer here is option C

Producer to Wholesaler to Consumer
8 0
3 years ago
Read 2 more answers
Suppose your elasticity of demand for your parking lot spaces is –2, and price is $8 per day. if your mc is zero, and your capac
marshall27 [118]
The answer to the question above is "no, the business is not optimizing" according to the information shown on the question above. In this situation, we have the greater marginal revenue (4=8*(1-1/2)) than the marginal cost (0)and the business is not in its full capacity. The parking lot business can increase its marginal cost to achieve its full capacity to gain more profit.
7 0
3 years ago
On July 28, Vent Corp. sold $500,000 of 4%, eight-year subordinated debentures for $450,000. The pur­chasers were issued 2,000 d
KengaRu [80]

Answer: Vent should record $70,000

Explanation:

The requirement is to determine the amount of discount on the debentures that Vent should record at issuance.

ASC Topic 470 states that the proceeds from the issuance of debt with detachable stock warrants should be allocated between the bonds and the warrants based upon their relative fair values at the time of issuance.

In this case, the fair value of the bonds is not known, but the fair value of the warrants is $10 per warrant. Thus, the total fair value of the warrants is $20,000 ($10 × 2,000 warrants). The fair value of the debentures can be estimated to be $430,000 ($450,000 total proceeds – $20,000 fair value of warrants). The face value of the bonds $500,000 less the fair value of the bonds of $430,000 equals the bond discount of $70,000.

6 0
3 years ago
ncreased government spending spurs a short-run expansion. Over time, aggregate supply eventually __________, returning the econo
Natasha2012 [34]

If increased government spending spurs a short-run expansion. The statement that complete the gap is:<u> Shifts to the left</u>, <u>Output endresources.</u>

<h3>What is aggregate supply?</h3>

Aggregate supply can be defined as the overall amount of goods and service  that a firm intend to produce and supply at a point in  time or at a particular period of time.

If an increase in government spending lead to short run expansion this means that there will be shift in  aggregate supply of goods and service as aggregate supply will tend to shift to the left.


Therefore the statement that complete the gap is:<u> Shifts to the left</u>, <u>Output endresources.</u>

Learn more about aggregate supply here:brainly.com/question/19802257

#SPJ1

7 0
2 years ago
Discrimination lawsuits that go to court are very expensive, averaging over $200,000, so a well-crafted ________ can save an emp
frozen [14]

Answer:

Job description.

Explanation:

A job description is an internal document that a firm draws up to describe the responsiblities of a position, the required skill, and job requirements to perform a particular job role.

When a job description is well crafted it shows clearly what is required to hire a person for a job. This will reduce discrimination lawsuits because it will show clearly why a particular candidate was disqualified from the hiring process.

For example if a candidate was disqualified for not having a bachelor's degree, it should be well stated in the job description to avoid discrimination claims.

3 0
3 years ago
Other questions:
  • Smith, CPA, is a partner of Johnson Accounting Firm. Johnson audited the books of Hometown Bank. Smith's independence would be i
    10·1 answer
  • Activity Cost Pools Estimated Overhead Cost Expected Activity Assembly $ 515,520 52,500 machine-hours Processing orders $ 62,763
    5·1 answer
  • A contract clause which specifies the amount of damages to be paid in the event of a breach is called:
    11·1 answer
  • A business may explore the advantages of​ licensing, franchising, management​ contracts, and turnkey projects. After businesses
    13·1 answer
  • Auto pistons at Wemming​ Chung's plant in Shanghai are produced in a forging​ process, and the diameter is a critical factor tha
    7·1 answer
  • Anyone got sc? mines babyjas04
    12·1 answer
  • Suppose that the supply schedule for tacos shows 300 tacos per day supplied at a price of $2.00 apiece. What must the demand sch
    9·1 answer
  • The following information is available for Ivanhoe Company for the year ended December 31, 2022.
    12·1 answer
  • You are considering investing in a project with the following possible outcomes: States Probability of Occurrence Investment Ret
    14·1 answer
  • How much would you be willing to pay to rent an additional oven when the order size is 1 dozen cookies?
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!