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Elanso [62]
3 years ago
10

Freda's Florist reported the following before-tax income statement items for the year ended December 31, 2021: Operating income

$ 255,000 Income on discontinued operations 67,000 All income statement items are subject to a 25% income tax rate. In its 2021 income statement, Freda's separately stated income tax expense and total income tax expense would be: Multiple Choice $80,500 and $130,500, respectively. $80,500 and $80,500, respectively. $80,500 and $63,750, respectively. $63,750 and $80,500, respectively.
Business
1 answer:
stepan [7]3 years ago
7 0

Answer:

$63,750 and $80,500, respectively.

Explanation:

Operating income : 255,000 x 0.25   =  63,750

Discontinued:   67,000 x   0.25 =    16,750

The Operation Income will be disclosure the pre-tax incoem tax expense adn after-tax result

While, the discontinued operation will be disclosure after-tax therefore it will not be stated in the income statement their amount of income tax

However, the company will have to pay those taxes the total income tax will be the sum of both.

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________ is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings t
svp [43]

Answer:

The given option "Marketing" is the right choice.

Explanation:

  • Marketing seems to be focused on thought about either the market regarding consumer expectations as well as satisfaction with them.
  • It is different from selling, although selling is concerned with either the methods or strategies of convincing investors to exchange some currency for a certain commodity.

Some other options in question are not connected to something like the given scenario. And the above will be a good alternative.

5 0
2 years ago
Determine which of the following statements are correct regarding damaged or obsolete goods. (Check all that apply.)
fenix001 [56]

Answer:

1.  Damaged or obsolete goods are not counted in inventory if they cannot be sold.  

2.  If these can be sold… Cost should be reduced to Net Realizable Value

Explanation:

The law relating to the valuation of inventory is that ''inventory should be valued at lower of 'Cost' and 'Net Realizable Value'.

Therefore in the case of damaged or obsolete goods, they have to be eliminated from inventory, otherwise it will lead to overvaluation.

However in the case where these can be sold, They have to be valued at lower of 'cost' or 'salable value', implying that 'Cost' should be reduced to 'Net Realizable Value'

8 0
3 years ago
The principle of using precedents to guide future decisions in court cases is called
viktelen [127]
It is called "stare decisis." It is Latin for <span>"to stand by decided cases."</span>
6 0
3 years ago
Explain in detail what differences in demand that the monopoly ferry operator on the east coast island of Onus will experience c
WINSTONCH [101]

Answer:

answer is given below

Explanation:

The monopoly looks at the demand curve of the entire market. A monopoly can reduce production and increase prices or increase production and lower prices for maximum efficiency.

Since the single ferry operator operates in a fully competitive market, this is cost-taking, meaning that the price they receive is set from the demand and supply of the ferry service in the market. Monopoly yachts are price settlers so they set their own prices.

Under optimal market conditions, the average total cost of maintaining a ferry its ferry is the lowest. But the monopoly boat does not operate at the optimum level and has additional potential in the market.

as  the competitive ferry service provider is allocated and economically efficient. There can be no monopoly.

Fully competitive markets tend to get caught up in the market-determined equilibrium price and look at the flat demand curve at the equilibrium price.

5 0
3 years ago
You and a friend go clothes shopping and find a great pair of jeans. They fit you perfectly, but they also cost $100. You are wi
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3. Both of you, because you both like the jeans
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2 years ago
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