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Elanso [62]
4 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]4 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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Hello

George retired from a local law firm and then volunteered to oversee a nonprofits legal records. George is performing the duties of a corporate secretary

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4 0
3 years ago
Abc company sells 4,530 chairs a year at an average price per chair of $175. the carrying cost per unit is $39.27. the company o
alina1380 [7]

Answer:

sorry i have no clue im just trying to level up good luck on your test XD

Explanation:

8 0
3 years ago
The intended audience for the memo is___________.The tone of the memo should be________.Finally, the purpose of the memo is_____
amid [387]

The intended audience for the memo is <u><em>all company employees</em></u>. The tone of the memo should be <em><u>formal</u></em>. Finally, the purpose of the memo is <u><em>to make sure employees understand and follow the updated dress code</em></u>.

7 0
3 years ago
When calculating the net operating income of a property, it is important to identify any expenses that will be incurred in attem
Fantom [35]

Answer:

The correct answer is letter "C": Mortgage payments.

Explanation:

Net Operating Income or NOI reflects income after operating expenses deducted but before income taxes and interest are deducted. If the result is a positive value it is called <em>Net Operating Income</em>. If the figure is negative, it is referred to as <em>Net Operating Loss</em>.

Net operating income is often used to calculate real estate income, such as residential properties or commercial properties. <em>NOI is calculated by determining the Gross Operating Income (Gross potential income minus vacancy and credit loss) and subtracting the operating expenses (maintenance, fees, and insurance). </em>

<em> </em>

Thus, <em>mortgage payments are not considered in the calculation of the NOI.</em>

6 0
3 years ago
Assume that the expected future dividends (D) at end of periods 1,2, and 3, as well as the expected future price (P) at end of p
MariettaO [177]

Answer:

$66.9725

Explanation:

Data provided in the question:

Dividend:

D1 = $1.20

D2 = $1.40

D3 = $1.55

Expected future price, P3 = $82

Required return = 8.9 percent = 0.089

Now,

Stock price today = Present value of dividends and the future value

Stock price today = \frac{1.20}{(1+0.089)}+\frac{1.40}{(1+0.089)^2}+\frac{1.55}{(1+0.089)^3}+\frac{82}{(1+0.089)^3}

or

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or

Stock price today = $66.9725

8 0
3 years ago
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